Sirius Petroleum Share Discussion Threads

[bronislav] 20/1/2021 16:20

HT.so 15 million working capital was on offer and I'm sure the lender knew all about Ororo and it's history.

[htrocka2] 20/1/2021 15:21

Not when you're looking for further funding it isn't.

Go to a bank and ask them for a loan....you don't have to tell them your previous history...they'll tell you....12 years, $20m, not a drop of oil...and you want some more...The risk factor would go off the scales...

[astralvision] 20/1/2021 14:38

Writing $20m off re Ororo is completely and utterly irrelevant.

[htrocka2] 20/1/2021 14:14

Bron...my point was that even if, due to GP's inept attempt at the 01 re-entry, and the DPR transfer the Field Operatorship to Owena Oil and Gas (Ororo field co-owner).....GP remains as a partner, also being co-owner of the ororo field.,,,, so as far as srsp are concerned...nothing's changed....square one.

The importance of ororo is that as long as the licence remains in force..., irrespective of who owns what, it allows SRSP to prevent them writing $20m off.

[bronislav] 20/1/2021 13:20

HT who would the DPR want to pacify .Sirius with AFC at the back of them or a Nigerian company with no hope of developing an asset ?.one that is reckless at that putting lives at risk re-entering a well that at best was a disaster waiting to happen.Even a top drilling company would have been very cautious of how they re-entered ororo 1 .

[htrocka2] 20/1/2021 12:26

bron..


'HT.Guarantee blew the well up , if that doesn't get them out of the picture then nothing will'
The FTSA is a legal contract...do you really want SRSP to be embroiled for years in expensive, non productive litigation?

[pigmonster1] 20/1/2021 12:22

Arghhhh!

Rolling with the one is that the message?

Nigerian producer hurdle to high to clear Sherlock?

Suppose something is clearly better than nowt.

I do hope thats not the case as that would have been the icing we all deserve.

[1alfi] 20/1/2021 11:34

Seeing is believing and looking at the share price there is little to put any faith into. For me, when the share price rises so will enthusiasm but until then its just the usual, big talk and dangled carrots.

[sherl0ck] 20/1/2021 11:20

Tunisia alone could be significant, with stakes in a portfolio of under-developed blocks that were sold for $114m six years ago. Schlumberger estimates Sud Remada could have nearly 500 mmbbls and even if you assign a lower than industry average recovery figure of just 10%, it’s still significant.
Plus, offshore represents a decent, largely untapped opportunity to build a FPSO-linked hub in the Hammamet basin and also assess the suggested significant upside from newly mapped structures.

From their LinkedIn newsfeed it looks like ATOG are actively engaging at the right political levels, so alongside ENI, they (and Sirius) could become a major player in the country, potentially also benefitting from further expansion as others exit. Read ETAP’s annual reports for historical info on fields.

And some dismissed the idea of cruise ships!

[vatnabrekk] 19/1/2021 22:11

I agree Bron. There's gotta be consequences!

[bronislav] 19/1/2021 20:31

HT.Guarantee blew the well up , if that doesn't get them out of the picture then nothing will.

[xerot] 19/1/2021 20:20

I've just read back through quite a number of Olivers posts and now I feel I need medical attention. Utter drivel.

[htrocka2] 19/1/2021 18:50

'Vat you make a interesting point regarding GP hopefully now they are long gone'


Just a thought....., I'm not quite sure how this will work. On the one hand the DRP have been ordered by the Courts to maintain the 'status Quo' regarding the Ororo Licence revocation while Owena make their court objections... IF owena win their argument and the DPR abandons the revocation...then we're back to square one...by that I mean that GP will still be in the frame clamouring for their percentage. To eliminate GP altogether, the licence needs to be revoked and then re-applied under a new operator, hence eliminating GP. Merely to have the Licence extended and revocation abandoned will mean that the FTSA will still be in force therefore cannot eliminate GP as a partner.........that's my opinion anyway.

[deadly nightshade] 19/1/2021 18:03

Vat you make a interesting point regarding GP hopefully now they are long gone things can finally happen here if they were the spanner in the works with everything

[stbilow] 19/1/2021 18:02

Secret Backer behind the scenes?! Perhaps we are self funding considering the millions that they've accumulated from us to no avail!

[dr rosso] 19/1/2021 16:51

The expectation was that GP, the supposed operator, would be paid off. We know from Martin Clark, appointed as Logistics Supt, that everything was set up and ready to go. Frosty meetings with GP refusing to budge without a substantial bung and the licence was left to expire. No funding made available due to the ongoing stand-off, and no further acquisitions possible as no asset collateral for any further cash. Bit of a balls-up, to put it mildly.

[vatnabrekk] 19/1/2021 16:26

Fair point astral, or perhaps they didn't want to invest in SRSP while GP was around?

[oliversanvil] 19/1/2021 15:39

For Ladies of the night!

[bronislav] 19/1/2021 15:35

So why did we need to raise funds through dilution at rock bottom prices a couple of weeks ago.?Like I posted it's about who gets in rather than needing the cash.Maybe they needed the cash for something not directly related to african oil and gas.