Sirius Petroleum Share Discussion Threads

[astralvision] 04/12/2020 11:12

If they issued all the shares the agm gives them authority to, then very roughly there would be 10bn shares in issue.Be sensible to consolidate that before any listing, say 20 for 1 or 40 for 1 bring it down to 500m or 250m.It would , hopefully, give a 'sensible' share price rather than a 'penny dreadful'GLA

[astralvision] 04/12/2020 11:01

Future is brightThey are asking for authority to issue up to £15m new shares at the nominal value.Nominal value is 0.25p, so that equates to 6bn new shares.All, please note the 'nominal value' has absolutely nothing to do with the share price, the value the shares are issued at, the relist price or anything else!What is a Nominal Value?Nominal value of a security, often referred to as face or par value, is its redemption price and is normally stated on the front of that security. With respect to bonds and stocks, it is the stated value of an issued security, as opposed to its market value. In economics, nominal values refer to the unadjusted rate or current price, without taking inflation or other factors into account as opposed to real values, where adjustments are made for general price level changes over time.

[xerot] 04/12/2020 10:56

Be a lot more shares than that guys, a lot more

[futureisbright] 04/12/2020 10:42

Rosso, morning. Based on your calculations, where did you get 6 billion from ? I have 5 billion. £15million at 0.011 current share price value (assumed) 1.37 billion extra shares. Current shares in issue (as at 03rd Dec) 3,689,299,651

GLA

[astralvision] 04/12/2020 10:31

Yes, sounds like they've got options and further opps More deals to come?Wonder who the funding partners are?

[astralvision] 04/12/2020 10:29

The Nigerian asset sounds good, currently 8000bopd, infrastructure in place to handle up to 40000 bopd.A material interest in this 'major asset'.So should give immediate cash flow from existing production with the potential to significantly increase production and also potential to sig increase reserves.Not sure if this is the 'aircraft carrier' but it would look to be several notches up from the ATOG deal, which in itself looks a good deal. Perhaps we've gone from a life raft pre ATOG to a nice yacht now we're up to a luxury cruiser or better. Is the aircraft carrier still out there?!!!

[deadly nightshade] 04/12/2020 10:29

Assets must be good as reading results there does not appear to be a shortage of funding potential. Sounds like they got funders lining up to want a slice of the pie

[astralvision] 04/12/2020 10:20

The guys have got some fire power behind them now!Would seem they are entering a different league compared to the past.I note they've also got $20m equity funding lined up, at what price, I wonder?The Group has in place a term sheet for a loan facility of up to $100m to cover its capital expenditure requirements, and have included drawing $75m of this facility in its projections. Additionally the Group has in place a term sheet for a $20m mezzanine debt facility which has been assumed to be drawn in full. The Group also has committed equity finding of $20m subject to completing the Proposed Transaction

[astralvision] 04/12/2020 10:16

Thanks dn I need to read it more carefully then!

[astralvision] 04/12/2020 10:15

From the ARThe Company has commenced the process for its proposed admission to AIM in 2021 and the Board will update shareholders in the New Year regarding this process. The Company also anticipates that it will include an Open Offer for existing shareholders to subscribe for new shares at the time of the proposed new listing.Doesn't actually and probably rather sensibly give indicative timing

[deadly nightshade] 04/12/2020 10:14

Does mention q1 in results astra, the bit I find interesting is the hydrocarbons to the surface in November section anyone got a opinion on that paragraph??

[astralvision] 04/12/2020 10:09

Can I ask where you read Q1 re list?All I've seen, so far, is new year for relist, so could be anytime 2021, although with everything that's going on Q1 certainly looks sensible.

[dr rosso] 04/12/2020 09:55

Dr Rosso - 06 Oct 2020 - 13:15:10 - 105903 of 107220 SIRIUS PETROLEUM - CASHED UP AND READY TO ROLL - SRSP
"Could we be looking at an IPO for a brand NewCo, whose Articles of Association reference two classes of shares and different voting rights/"


Rosso spot on with the new Articles of Association. Also the forthcoming Open Offer/Rights Issue. "The Company also anticipates that it will include an Open Offer for existing shareholders to subscribe for new shares at the time of the proposed new listing."

Also the transformational jv with a Nigerian privateer on a producing block. (likely Moni Pulo OML114)
Slightly out on 2bn new shares being made available (turns out to be up to 6bn).
Also early 2021 relist.

What`s not to like? Assets will more than counter the dilution. I`m sticking with an rto relist share price of 2.5p, based on an initial 6bn or so in issue, with an mcap of £150m. Price should move up substantially next year on field developments.

[kwizza] 04/12/2020 08:58

Looks like may hear soon who got what....


Buhari to finally announce marginal field winners

[bestdeal1] 04/12/2020 08:50

Time for one more deal I think before the new listing in Q1....................

[bestdeal1] 04/12/2020 08:28

They still remain confident of a renewal of the Ororo licence!!! No mention whatsoever of the ongoing dispute. Good luck with that.

[solarno lopez] 04/12/2020 08:25

And where's Antenna when you want him ?

[solarno lopez] 04/12/2020 08:15

Is this latest revelation the Aircraft Carrier mentioned by Sherlock ?

[deadly nightshade] 04/12/2020 08:11

ororo still in pipeline by the sound of it. but no oml 241 as it says the expenses of that have been written off, so we must have been looking at oml 241. you get the feeling some big things are still to be revealed lets hope q1 is for real next year and we start unlocking some value here

[bestdeal1] 04/12/2020 08:02

may not be providing us with Xmas dinner again this year but maybe.... just maybe it is lining up for a slap up easter celebration

[bestdeal1] 04/12/2020 07:54

the wheels are starting to turn!

[rugbybloke] 04/12/2020 07:47

Company assumes Q1 relist to AIM

[carrbradshaw] 04/12/2020 07:33

AGM 30th December

[tradoil] 04/12/2020 07:13

Transformational Nigerian Transaction 8000 BOPD material interest
Open Offer to shareholders at AIM relist.