Sirius Petroleum Share Discussion Threads

[bronislav] 23/1/2021 09:00

600 million for funding agreed not recently it seems and how many other assets have we funded.I use the term "WE" lightly as we are I assume the middlemen in the funding process.When we look at the enormity of these amounts it seems laughable that we have to dilute at rock bottom prices for much needed funds.The 15 million wor king capital has to be paid back and it follows we must be producing oil and gas.On the subject of the oil and gas I would expect the oil to be marketed by different companies on each asset with glencore BP and now mercuria all in the mix.Funding has been the stumbling in Nigeria and sirius has a board of money men/bankers and in the past we also had a bond expert.All about Sirius setting up the funding and let the oil and gas experts take control of the oil and gas production.Sirius itself has never actually drilled or produced oil and gas but it may well be that we have funded oil and gas production for a percentage.Oil to Nigeria and gas for Export?.

[dr rosso] 23/1/2021 08:27

"The Company is in receipt of funding term sheets from, inter allia, a global trader and a family-oTfice and has secured a turnkey quote from a global oilfield service major to execute the approved work programme."

Mercuria + Baker Hughes + Aker Solutions

[dr rosso] 23/1/2021 08:22

Interesting Norwegian link, Bron. Could Aker Energy be our behind-the-scenes backer? Norway is significant imo due to prior connections ie Shelf Drilling, Add Energy, Dermot O`Keeffe. Throw in the poker-playing trio who manage ABO and the outrageously awful terms of the EHOGG cln deal which supposedly baled out not only Sirius but ATOG where David Sefton is heavily involved, and through other Cos DS has grabbed hundreds of millions of shares through ABO loans. What seemed like tenuous links may be forming the bigger picture. Surely it cannot be CMES-OMS alone, an oil services provider, that is tied up with the underperforming NPDC to manage two huge oil blocks.
Remember that Sirius proposed deal is an INDIRECT material interest, suggesting a TPOS-style tie into that osp. $600m sure is a big funding procurement, prob achieved through AFC.

[dr rosso] 22/1/2021 22:15

NPDC seeking funding + technical partner. Not only 65, but 119. Will we be rto-ing into the osp and fulfilling its existing contracts?

[janejem] 22/1/2021 20:35

Can’t take the credit Bleemster. It’s there for anyone with a subscription to AOG - page 28 for anyone who’s not read that far in yet. Though have I missed something? Was it a secret? Someone ought to have told that to the journalist - tut, can’t trust anyone these days.

[deadly nightshade] 22/1/2021 20:18

Just hope we get a conclusion here one way or the other very soon. This is dragging on far to long now and folk have a lot of money tied into this and every time something unofficial drops here you wonder if it prolongs and hinders what if anything that's going on behind the scene. Come on bod wrap this up and let everyone move on,this has dragged on so long any potential gains here have became hollow. Rip to the fellow BB member who has sadly passed

[1sonic] 22/1/2021 20:13

Amazing how so many post a load of rubbish but when someone hits on something like “65 and Baker Hughes” they don’t post...

[bleemster] 22/1/2021 20:05

I didn't think I'd see the day people started speaking up. Is that what's it's come to, someone has to pass away (RIP) for something to be brought up. Well done Jane! Bigger balls that me :)

[bronislav] 22/1/2021 19:49

Subsea production alliance signed by AKER solutions and Baker Hughes.Aker solutions our partner alongside AFC on the 119 bid.The parent company in Norway of AKER solutions is huge and also has AKER ENERGY under its umbrella.Aker Energy have an interesting portfolio of projects themselves.If the posts above highlighting Baker hughes are correct then it is positive news indeed.

[janejem] 22/1/2021 19:47

Pity the article didn’t give percentages and who else is tied in to this field, though I’ll take any news in lieu of that company update ;-)

[1sonic] 22/1/2021 19:45

So it would seem the deal is done on OML 65. Yet as with 114/109/119/Atog/65/dunraven deals we never hear about it.

[1sonic] 22/1/2021 19:38

OML 65 hey! Who’s got anything to say about it for those who have passed!

Sherlock? Dr Rosso?

Please give us your thoughts???

[1sonic] 22/1/2021 19:36

RIP Chris Dagg! We were friends till the end pal! You did make the right choice and I will make sure your family will get a result on this!

[janejem] 22/1/2021 18:53

Our good friend Topher aka Jamie40 / Chris Dagg from Banbury is sadly no longer with us. We are saddened that he’s not here to read that Sirius is the promoter of $600mm investment in COPDC’s OML 65 - in league with Baker Hughes and Mecuria. Maybe his sizeable investment of 13 plus mill shares will have been wise, and will support his family whom he adored. Can’t but help feel that he was a bit let down by the BoD, and for the sake of his memory I hope that the BoD now deliver to all those still with us, and who he introduced this company to, as he inappropriately shouldered a burden of guilt for the anxiety this investment has caused some. RIP Topher.

[bronislav] 22/1/2021 18:18

Another month of no news ...looking more and more like all those assets are tucked away and ready to be offloaded.cmon Sirius get it shifted.I'm guessing another couple of months yet.

[htrocka2] 21/1/2021 15:45

O/T

Talking of COPL....in early June last year, six months ago, like srsp, COPL too applied for a third licence extension ( OPL 226).....still no joy. Although the Licence has expired, in one of their last reports still lay claim to the field....as worded below.

'The Affiliate holds an attractive oil appraisal and development project in shallow to mid-water offshore Nigeria on its 100% holding in OPL 226'

(I imagine that they too must have already pumped a fair amount of cash into the project)

[dr rosso] 21/1/2021 07:48

COPL has secured the money to acquire Atomic O&G and develop its assets in Wyoming. I think the Sirius transformational deal is somewhat different as its a material indirect interest in whatever assets they are going to be involved with. Jv with producers yes, but Sirius role in production looks more like the provider of oil services ie funding + access to the technical consortium ie Schlumberger et al to optimise field development. Getting the money in place is really what this is all about as there are so many producers out there desperate to develop their fields but lack sufficient cash. More likely imo that the rto will be with an indigenous oil services provider with contracts set up with large production Companies unable to proceed without substantial cash injection.

The entry into ATOG is all-important as the Tunisia reserves act as collateral for bigger funding capability. Add on the new asset`s own proven reserves. Half a billion dollars perhaps? 109 was previously ditched, unworkable as there was no Ororo secured, leaving them dependent on 30% of TPOS future revenue flow from initially low-producing Ejulebe field. The latest circumstances look far more promising.

[bronislav] 21/1/2021 07:39

Yes I did read all the Rns and I'm happy that it will be signed off but I understand the point you make.As for Sirius we are in a situation whereby we can't really sell out so have no choice but to trust the board to deliver.Whether they will is unknown.

[seattle slew] 21/1/2021 07:36

Bronislav did you read the bit on the COPL RNS that said not Legally Binding yet? Sounds very familiar to the sort of RNS'S that drop here. Why does it seem nothing is ever signed off and confirmed for real?? Have we or have we not completed on ATOG deal???

[bronislav] 21/1/2021 07:17

News on canadian overseas petroleum today shows what can be achieved and how quickly things can change.Let's hope it's Sirius,s turn sooner rather than later.