Sirius Petroleum Share Discussion Threads

[htrocka2] 12/1/2021 12:24

Cornish has got it right.....I must emphasise that I'm with the BOD on this one., who expect the have the ororo revocation over turned. The out come will be revealed this Thursday/Friday...The new 'Nigerian Transaction' that SRSP have signed up to will no doubt become a bargaining chip...hence, I'm expecting some form of consensus regarding the outcome of this case. However, should things not turn out as expected then the Accountants have stated that they'll have no option but to write off $20m against ororo….The reason why we're valued at £40m at present is because $20m are still on the books.....on the other hand, if all goes well, it will promote the 'Nigerian Transaction' and increase SRSP's valuation...probably to 1.5p a share.



'We draw attention to Note 5 to the Financial statements,which describes the circumstances surrounding the renewal of
the Ororo Field Licence. Although management are confident the renewal will be granted this has yet to be confirmed,
which creates uncertainty in the carrying value of the intangible exploration and evaluation assets. Our opinion is not
modified in respect of this matter.'

[carc] 12/1/2021 12:11

ATOG accounts are 12 days overdue, could they be waiting for the Sirius deal to conclude?

[vatnabrekk] 12/1/2021 12:07

I agree astral, it would be quite useless to issue an AD if completion of the transformational Nigerian deal could not be included. Same goes for the payment of the first instalment of the ATOG transaction.

Not only do the ducks have to be lined up, but they have to be lined up in the right order!

[astralvision] 12/1/2021 11:36

Nigerian deal has to close before any AD prospectus, imo.

[drrichard] 12/1/2021 11:19

We need a relist prospectus soon, so would presage a mid Q1 relist. Would be nice.

[cornishtrader1000] 12/1/2021 11:16

Ororo court case?

[1sonic] 12/1/2021 10:42

HT have you found another article?

[oliversanvil] 12/1/2021 10:32

HT's reading glasses should arrive on fridy from Ebay :-)

[5cer] 12/1/2021 10:30

So what happens on Friday ?

[tradoil] 12/1/2021 10:29

Excuse my ignorance here but what is due this Friday by means of information? Thanks

[htrocka2] 12/1/2021 10:11

DR...

'After years of failed promises and failed deals, the astonishing thing is that the Co. remains afloat. With a valuation of £40m. Some large entity must be backing Sirius, ready to move into Bury St office'

We'll have a clearer idea this Friday what the true valuation is.

[dr rosso] 12/1/2021 09:51

Open offer at 1p and a market relist at 2p would go some way to alleviating the guilt these ppl must feel over the treatment of pis during the past decade.


I am assuming that the proposed transformational Nigerian deal isn`t in any way connected to 109, which Shylock tells us is now defunct.

After years of failed promises and failed deals, the astonishing thing is that the Co. remains afloat. With a valuation of £40m. Some large entity must be backing Sirius, ready to move into Bury St office.

[bestdeal1] 12/1/2021 08:28

time to stop hearing how it "sounds " and SEE how it looks in fact...........

[solarno lopez] 12/1/2021 08:21

Good thoughts on consolidation and the content of your second paragraph Sherlock

[astralvision] 11/1/2021 22:18

Thanks Sherl0ck for your take, all sounds good.

[bumhammer] 11/1/2021 21:24

Apparently goldman sachs has posted that it speculates crude oil will hit $65 by summer

[sherl0ck] 11/1/2021 20:52

Lots more to come Astral. ATOG and the Nigerian asset on their own could underpin a substantial business, as supported by the projected capex figure. Plus, the backing of deep-pocketed funders could come in very handy at a time when some majors are exiting African producing assets.

We’ll need to see detail prior to relisting, but I’m assuming the open offer is more about providing an opportunity to holders, rather than the Company desperately needing the additional funds... (on the back of potentially securing ~$140m, including $20m equity).

Also looking at the current financier profile, it doesn’t seem that we’re reliant upon the big institutions, which a) is no big surprise as lots of this funding has dried up in recent years across O&G b) may also reduce any need to consolidate shares. AIMO.

[astralvision] 11/1/2021 13:43

Thanks Dr R for the match, yes, that looks right.Yes, it's a way for some to cash a modest amount of shares in and a way for others to buy in.Yes, valued at £40m @1p, a not inconsiderable amount esp for what's currently on the table, which is just ATOG, I assume, albeit with the lure of the Nigerian deal and the intention for other such deals.Still, I'm heartened by the current valuation and if it was good enough for SherlOck's mate to have a few at these levels, then there is hopefully more to come.

[dr rosso] 11/1/2021 13:27

The 2 previous trades are the match. JPJ is basically a means of escape for those who need to cash in a smallish number. Note that, at 1p, Sirius is valued at a not inconsiderable £40m.

[astralvision] 11/1/2021 13:11

I note another trade is showing on the JPJ site, single trade , mid price 1p for 850,000 shares, how exciting!Perhaps there will be a matching trade or trades later.JPJ facility is certainly better than nothing, activity has picked up over the last few months from zero trades in months to a few dotted around.Whether it's an indicator of any value on relist remains to be seen, hopefully a lot of info to come out before a relist and only then can a view be taken on value, imo.

[bronislav] 11/1/2021 09:01

OK thanks VAT.interesting.

[vatnabrekk] 11/1/2021 08:59

Yes it looks like it is in the southern part of 109, about 30KM south of Ejulebe.

The Ugo Ocha was brought to Nigeria to service the OML 42 JV: "...the OML 42 JV has developed an alternative evacuation route for its crude via barging to the Ugo Ocha Export Terminal."

[bronislav] 11/1/2021 08:21

Thanks vat would that be on 109 ?

[vatnabrekk] 11/1/2021 08:06

Yes Bron, exactly where she was before, offshore between Escravos and Forcados.

[bronislav] 11/1/2021 07:24

Anyone have any idea where the UGO OCHA is positioned at the present time.