Sirius Petroleum Share Discussion Threads

[bleemster] 04/1/2021 18:16

Srsp statement of we will come back to market in the strong position possible of two assets and one where we have gone AGAIN over the deadline of making a payment and then not announcing what the second asset is. If this is the strongest position we have to relist we're screwed. Let's hope we don't relist and sell out instead

[bronislav] 04/1/2021 18:15

No me neither deadly .I'm sure if/when we find out what the last ten or so years has really been about the boards wages etc will be deserved.

[deadly nightshade] 04/1/2021 18:11

Interesting point Bron hopefully the pictures will start to be come clearer as the year goes on, I don't begrudge our bod any bonus's here as long as us longtermers can have a bit of the pie along the way

[bronislav] 04/1/2021 18:03

I guess we will never know deadly.I don't buy into sirius needing cash through these relatively small placings.If sirius wanted the share price up I'm sure they have it it within their means to do so and raise at a higher share price

[deadly nightshade] 04/1/2021 17:20

I was thinking more along the lines of the placing maybe funding part 1 of the ATOG deal??

[bronislav] 04/1/2021 15:50

Shares not about raising money it's about who gets the shares.we have AFC making a 500 million commitment to the bid on 119 and we have to dilute to raise cash.It's obvious that the shares placed are for someone important to the sirius cause pocketing shares before it blasts off.

[deadly nightshade] 04/1/2021 15:10

Thanks for clarifying that Sherl0ck hopefully a few quid in the kitty off the placing for up coming projects

[htrocka2] 04/1/2021 15:10

Jenkins on the move again..(probably wants some cash to pay for Christmas)

[sherl0ck] 04/1/2021 14:49

82.4m shares issued at 1p (placing)
102.5m shares issued at 0.5p (loan conversion)
= 184.9m new shares, so total number of shares is now 3,907,532,985

[5cer] 04/1/2021 14:46

What does that posting at Companies House imply ?

[drrichard] 04/1/2021 13:45

Brent crude just popped over $52! Come on baby, SRSP needs you. Great timing as we complete our entry into the oil and gas business for real, at last.

[astralvision] 04/1/2021 13:31

Sorry qpr, just seen your post.Can't delete mine as on mobile platform

[astralvision] 04/1/2021 13:30

See if this link workshttps://find-and-update.company-information.service.gov.uk/company/05181462/filing-history

[qprallan] 04/1/2021 13:28

Try This one:

[solarno lopez] 04/1/2021 13:25

The link odes not work

A filing has been made today for shares issued for cash and loan conversion

[qprallan] 04/1/2021 13:07

From Companies House:

[only1gibbo] 03/1/2021 23:04

Absolutely HT, totally agree.

[htrocka2] 03/1/2021 22:17

only1gibbo...I like your 'options' posts...the only comment I'd make is that although only 50% being exercised at first oil...at the price of 1.125p....makes it totally pointless to exercise them unless the share price is at east 100% north of this....For the BOD to make any serious money...they must be looking at around the 3p...4p...5p mark.

[deadly nightshade] 03/1/2021 18:53

me to belson just being sarcastic, it's what years of investing here does to you. fingers crossed new year new start

[belson] 03/1/2021 18:46

I hope we are not in the same position

[deadly nightshade] 03/1/2021 18:36

thanks only1 for reply so lets hope this don't drag onto 2027 nothing what so ever would surprise me if it did and we are all still here in another 6 years in same position lol

[only1gibbo] 03/1/2021 18:21

DN, no I think you are mistaken. As I read it (purely from note 10) some will vest on first hydrocarbons, whatever date that is if within 10 years of grant, some 12 months after that and then some more after a further 12 months.

If you look at the 2018 accounts it states
"The options granted on 19 December 2017 were assumed to vest in 22/34/46 months on their vesting date as the successful first commercial production of hydrocarbons to surface is expected in October 2019."

2019 states
"The options granted on 19 December 2017 were assumed to vest in 35/47/59 months on their vesting date as the successful first commercial production of hydrocarbons to surface is expected in November 2020."

You'll note that the assumed vesting periods have each rolled on 13 months in line with the change in assumption of first hydrocarbons.

The share options granted can be exercised up to between five years after the date first exercisable, and ten years from the grant date. So the backstop for the 2017 options is December 2027 as I see it.

[solarno lopez] 03/1/2021 17:47

They could always surrender the options and write back the share based payment to the P & L and issue new ones at a similar rate and probably a lower number

[deadly nightshade] 03/1/2021 17:30

if we are on the cusp of big news then surely common sense would say that it would be in the bods interest to do all it could to activate them options by that end date?? seems strange how this deal was released just before the options run out, maybe our bod could release a statement to clear this up? thought not

[deadly nightshade] 03/1/2021 17:26

only1, if my memory serves me correct them 1.12p option were for 35months activation time, issued in 2017 so if they have been activated that would have just been before that timeline expired.