Sirius Petroleum Share Discussion Threads

[deadly nightshade] 31/1/2021 17:00

Yes good posting here today, I would be amazed if some form of news does not drop by mid march at the latest. Could very well be this coming February as a open offer and AD and relisting will take a few weeks to organise and sign off a EGM so this can relist. I was wondering last night if talk of a open offer for pi's might be a actual takeover offer rather then a open offer to buy more discount shares??? You get the feeling we are finally on the cusp of something big here

[bronislav] 31/1/2021 16:37

Maybe the man behind the veil stepped in and was the reason the Glencore deal was scuppered.That never did make sense as funding was on offer from glencore although big dilution attached.Perhaps the orchestrator had a plan and that plan is coming to fruition.Corvus exited around this time period from memory and so it must have been a powerful Nigerian with influence that stepped in.A listed vehicle that took care of fundraising while the orchestrator took care of the assets.It doesn't make any sense that a small aim listed company run by money men could attract the calibre of companies that have crossed it's path.I doubt there are many influential Nigerians with strong relations with the government and DPR that would fit that profile.

[qprallan] 31/1/2021 16:12

"It just doesn't make sense for her not to know who Sirius is. Unless they were masquerading under a disguise!"

I agree, it doesn't make sense. Her words were "No I didn’t have anything to do with them... which I took to mean that Sirius weren't involved at all. I suppose its not out of the question that it was contracted under a New Company ID.

[vatnabrekk] 31/1/2021 15:38

I must say I find that rather odd qpr. At the AGM in December 2019 we were told that the OML 114 deal was almost complete and that they expected financial close in the following few weeks with completion in Jan/Feb 2020. Which would suggest that negotiations with Moni Pulo had been going on from early-mid 2019. Mayowa says that she was with Moni Pulo from June 2018 to March 2020 and that during that time she carried out the contract process AND AWARD of the Abana contract worth $40M.

Mayoya's timing ties in with the period that SRSP must have been negotiating with Moni Pulo. It just doesn't make sense for her not to know who Sirius is. Unless they were masquerading under a disguise!

[pigmonster1] 31/1/2021 15:21

Mayowa Abiola
Buyer/Expediter
Baker Hughes
Mar 2020 - Present 11 mos
Port Harcourt, Rivers, Nigeria

Contract and Procurement Specialist
MONI PULO LIMITED
Jun 2018 - Mar 2020 1 yr 10 mos
Nigeria
 Contributed in the development of the contracting strategy for the (OML 114) Abana Turnkey Drilling project worth $40m.
Carried out the Contract process and Award of the (OML 114) Abana Turnkey Contract worth $40m
Management of the MoniPulo Limited Inventory
Negotiated Contract and Procurement processes for Operation materials and Services for Agbani FPSO with annual spend of $25 million
Interfaces with External bodies such as DPR, NCD, Vendors, Host Community and Governement
Monitors and ensure the update of vendor database files in the company approved system in order to establish authorized vendor status
Full service buying responsibilities which involved annual cost reduction negotiations, resolving payment issues , source selection and suppliers relationship management with proven results
...more

Now with Baker Hughes.Big coincidence she has joined forces with the supposed oml 65 crew.

[qprallan] 31/1/2021 14:42

vat - I asked Mayowa Abiola about that contract and Sirius and she told me that she hadn't come across Sirius Petroleum at all. I was also informed last May that OML 109 hadn't gone away but at the time was not a pririty as several other assets were being considered. I agree that was some time ago now and a lot may have changed since then.

[vatnabrekk] 31/1/2021 13:36

I still believe that there is an outside chance that SRSP could perhaps become involved in the development of OML 114 for Moni Pulo at some point in the future.

The initial estimated cost of development was $40M, and according to Mayowa Abiola's Linked-in page she "Contributed in the development of the contracting strategy for the (OML 114) Abana Turnkey Drilling project worth $40m."

Then in their November rig update Shelf Drilling announced that Unitech had contracted the Trident VIII for an initial 100 days from September to December, and she was (and still is) located on the Abana field at OML 114. Presumably the rig has completed her initial 100 days although she is still sitting on location.

An initial hire period of 100 days would suggest a work-over and/or a "drill and test" session. The cost of this exercise over 100 days would be in the region of $10M which Moni Pulo must have funded themselves.

It would not be unreasonable to assume that having completed that initial work, the company is now assessing the results of the testing, in order to decide what to do next. If they decide to go ahead with the development programme as initially envisaged, then perhaps there is a chance that SRSP could still be in the frame.

All IMHO of course.

[bronislav] 31/1/2021 11:16

Looking at Sirius there are signs that what the company puts in the public domain perhaps does not reflect the reality.There are only small signs but nevertheless it does suggest we are involved with more assets than some would have us believe.The respected posters on this thread are starting to sound less believable when trying to put the opposing narrative.I'm only guessing based on what little information there is out there in the public domain and trying to find the thread of truth based on the company rns,s.what I think we all agree on is it is surely time to create some value for shareholders including the long term company board members Mr Pryde being an example who I don't believe are here for a comfortable life collecting a pay packet.Something big is unfolding here in my humble view and I am starting to feel that it is closer than some might think or have us believe.Another month with no company news but a month where oml65 and 109 have again showed especially in 65,s case credible links to sirius.

[xerot] 31/1/2021 07:51

Less progress than Handy Gandhis love life. Still on the starting blocks waiting for someone to kiss a toad.

[aventador] 31/1/2021 07:44

What will we see first, relist of srsp or end of this awful lockdown. Both would be welcome this spring/Q1.

[dr rosso] 31/1/2021 07:44

The lack of activity on 109 and elsewhere amply illustrates the fact that, whilst oil is certainly there, many indigenous Companies have no access to funding to get it out of the ground. Sirius role appears to be that of the middleman agent which procures the necessary money. No doubt that multiple cashless Nigerian producers have approached them and several deals have been negotiated, some of which have failed to complete.

[1sonic] 30/1/2021 21:19

Sonic boom!

[deadly nightshade] 30/1/2021 21:07

i rekon when news finally drops here it could be assets galore, here there and everywhere boooooooooooooom

[deadly nightshade] 30/1/2021 21:04

also oml 114 looking good that rig is still on site so something very very big must be unfolding there to have a rig sat there for months on end and at what i would imagine considerable cost. if we are in on oml 114 that will be big on its own

[1sonic] 30/1/2021 20:53

Wonder where all the JV money came from as they all sat doing f all with the asset lacking funding...

[1sonic] 30/1/2021 20:52

Interesting over the last two years many assets have had work done yet no results..:

[vatnabrekk] 30/1/2021 20:49

Not since the work-over vessel Lacie Bourg left the field.

[vatnabrekk] 30/1/2021 20:46

There hasn't been any activity on 109 for months.

[dr rosso] 30/1/2021 20:27

I thought that we had been informed by the back door (via Sherl0ck 107924 ) that Sirius had walked away from 109.

[bronislav] 30/1/2021 20:21

Good post front door.Close to escravos and related infastructure.so that's 109 65 and possibly a whole load of oml95.Is that just for starters.
I wonder how they have funded all this?