Sirius Petroleum Share Discussion Threads

[twentysixpointtwo] 05/12/2020 17:32

Good to hear from you Jenny
Much needed spring in our step today
KRO

[astralvision] 05/12/2020 17:26

Hi minichris

Re your ‘rough book price’ for the ATOG deal, I assume you are referring to this bit

‘Management estimates NPV10 of $110m (based on the Brent futures curve) attributable to net interests in 2P/2C reserves only, but with significant further upside.’

$110m equates to roughly 2.2p I think, on 3.7bn shares, but that’s not the point.

Im no expert here but you can’t take a NPV10 figure and translate it into a share price. That is NOT what the NPV10 is for, it’s a way of trying to compare different projects and put some value on them. There is obviously some correlation between NPV10 and share price, but it’s very weak and just not worth going down that road.

As an example, PANR recently have a NPV10 for just one of their horizons of $2.7bn. Add in the NPV10 of their other horizons and I guess you’re probably up to $10bn or something like. That would equate to a PANR share price of £10, they are currently sitting at 35p or so , market cap around £225m.

The recent deals by SRSP look to be good to me and I’m excited to see what happens next. I value the views of posters like Edgein who would seem to know his way around the O&G industry. The deals look to have scale and it looks like we could be building out something quite substantial here. I can see the open offer going very well, as if they get everything lined up, who wouldn't want to make some money out of them. I understand the length of time it has taken means investor fatigue has well and truly set in. But this is looking like a phoenix company, value looked around zero fairly recently. Now, the picture is starting to be transformed.
Still got fingers crossed!

[jenny tulwought] 05/12/2020 17:08

Twentysixpointtwo5 Dec '20 - 15:12 - 107297 of 107310
0 4 0
It seems the cruise ships and aircraft carriers haven’t lived up to expectations.

I’m shocked. Who’d have thought it.


= = = =

Not as shocked as I was when I saw this afternoon's result...
K.R.O.



SOTv

[jenny tulwought] 05/12/2020 17:02

minichris5 Dec '20 - 15:58 - 107300 of 107308
0 3 0
I never once said the stories were ludicrous. We have been shown the unnamed ship in the documents, and there lies the problem. As Jenny would say, we have seen a flash up her skirt..... ill let her finish the analogy off!



Summat's winking at me.

Right then, I'm off for a kebab.

[sirianbotham] 05/12/2020 17:01

Some very good and valid points there Mini.

[deadly nightshade] 05/12/2020 16:51

ok mini thanks

[xerot] 05/12/2020 16:41

minichris - 08 Nov 2020 - 09:42:41 - 106632 of 107306
I've got a mil for sale at 2.7p if anyone wants to match it.

That would suggest otherwise pal x

[minichris] 05/12/2020 16:36

I never had any listed at 2.7p, 1.5m @ 1.5p.

2.7p is a rough book price for the ATOG deal and we can all see how that translated into a share price, considering its only signed.

[minichris] 05/12/2020 16:29

I pulled them deadly, I still need some money but will wait until the new year and see if we get a relist date.

Doubt there will be many taking the open offer!

[deadly nightshade] 05/12/2020 16:22

Reading the results it appears that did hope to have this new Nigerian asset completed before the results were due, looking across a few other companies operating in Nigeria they are all reporting timing problems with getting deals completed in certain time frames. I rekon we are in for some action in q1 next year. After the year we have seen this year the fact we are still in the mix for deals has got to be a good sign, q1 will soon come so hopefully not long to wait. The jp 1.1p is a positive. mini have you still got some of your shares on the jp as sure you said you were looking to sell some a while back?

[xerot] 05/12/2020 16:22

No mini I'm saying they are ludicrous. With this firm wait till its in the bag.

I think right now they need to get a lot more detail out on that news and get it completed. They are gonna hit us with more shares thats certain, they need to scale this up fast and use some of the revenues to boost this as at the moment we're playing catch up for 12 years of failure.

What happened to the other assets they were talking about before ???

They seem to raise the prospect of an asset then 6 months goes by with nowt then its forgotten.

The big positive is the Tunisian deal they needed that or they don't actually have a business.

Instead of reading these fanciful tales investors need to evaluate what the company can confirm and balance that with any details they provide to come up with the correct evaluations rather than being swept away by certain posters statements about things that may or may not happen with little to actually confirm this purported good news.

[minichris] 05/12/2020 15:58

I never once said the stories were ludicrous. We have been shown the unnamed ship in the documents, and there lies the problem. As Jenny would say, we have seen a flash up her skirt..... ill let her finish the analogy off!

[xerot] 05/12/2020 15:37

Same old posters posting ludicrous stories and tales of riches.

Ridiculous that some are still swallowing it.

[xerot] 05/12/2020 15:36

Mini, I'll give you a gods honest tip. Don't ring Mr Bick looking for answers.

[twentysixpointtwo] 05/12/2020 15:12

It seems the cruise ships and aircraft carriers haven’t lived up to expectations.

I’m shocked. Who’d have thought it.

[minichris] 05/12/2020 14:34

Not wasting my time on here, I have asked for a phonecall with Mr Bick and will talk it through with him.

No amount of cruise ships or row boats can answer my questions now.

[xerot] 05/12/2020 12:01

Sherlock and Mini Sherlock, extremely quiet also??

[5cer] 05/12/2020 11:56

Does anyone on here know for sure if the Ororo fire is out? If so, where did you get the information from ?

[5cer] 05/12/2020 11:23

They could hold an interactive AGM if they wanted to.

[xerot] 05/12/2020 11:13

Perfect excuse not to get another grilling.

I think they likely dread these meetings.

No actual detail on that last news about the stake involved with, so very hard to calculate any value as well as the fact they seem to want to issue a load more shares.

This aircraft carrier may well be a rubber dingy on closer inspection.

The fact they've wasted so much money on other failed assets puts us in a position where we will have to get some rather big assets to break even with the dilution coming our way.

When will they actually start doing something for the investors rather than covering their own failures of the last 12 years.

[qprallan] 05/12/2020 09:57

Bidmoll - There will be no-one there to ask difficul questions:

. The AGM will be convened with the minimum necessary quorum of two shareholders which will be satisfied by the Chair and another Director or the Company Secretary. No business will be considered other than the Resolutions dealt with in the Notice referenced above. The Company is taking these precautionary measures to safeguard its shareholders' and employees' health and make the AGM as safe and efficient as possible.

[bidmoll] 05/12/2020 09:17

Ht. that was my attempt at cynicism. To announce on the day of the agm so they have something to talk about and try to avoid difficult questions

[htrocka2] 05/12/2020 09:11

Bidmoll…...A quote from ATOG management...


'First completion is expected by the end of the year at which time Sirius would become a 20% shareholder in the company. ATOG looks forward to welcoming Sirius to the investment group.

November 2020