Sirius Petroleum Share Discussion Threads

[bashmore] 04/2/2021 20:35

I'm really hoping closer to 2p after the patience.

When they said we'll update with when we relist details in the new year, has that happened? Is that expected in Feb/Mar? I assume listing a couple months after they announce?

I try not to look at SRSP, but noticed it's at 1.1p indicative mid price on JPJ which is a great sign.

[dr rosso] 04/2/2021 19:51

Rto transformational deal cannot be completed without shareholder approval. The AD will contain all the details of the proposed acquisition, including the name change, the open offer, indicative share price on relist, etc.

Buying a 40% stake in ATOG looks to be a side issue.

Could see share price back at 1.5p. Prob the most we can expect is a return at 2p. A £100m Co, with 5bn shares in issue. But should grow very quickly from whatever the rerated platform is.

[deadly nightshade] 04/2/2021 17:56

Agree vat, surely all the asset news will be released as one in the AD rather then snippets. I should imagine IF we are coming back to market then this lot will want to reveal all in the AD rather then keep suspending for long times on individual assets being confirmed

[vatnabrekk] 04/2/2021 16:56

Perhaps we won't be getting any updates now until they issue the AD.

[shez20] 04/2/2021 16:24

Agreed pig! Lack of information and clarity around that deal, connected bod members and wonga make me very sceptical of it

[shez20] 04/2/2021 16:22

This comes back to market with just the ATOG deal it's got disaster written all over it! Let's hope not

[pigmonster1] 04/2/2021 15:48

Let's cast our minds back to last year and the very assets we are currently delisted for suddenly spring to life.Yet Sirius Petroleum is no where to be found.

2 assets the company were balls deep in negotiating multi million £ contracts with literally within a few weeks of each other start drilling/workovers.

How do these to companies suddenly manage to 'PROCURE' the financial alternative means so quickly in a country where completing such a task seems virtually impossible.

Anyone who keeps up to date with the politics and general news in Nigeria will know exactly where I'm coming from.

The question is 'WHY' has Sirius Petroleum never updated us about these 2 assets either way.Surely if we are no longer involved in the assets the appropriate action for the company would be to inform its shareholders.That would be the least we deserve.

Maybe the team did arrange financing for all these assets ableit under their own banners not Sirius's.Whats stopping them.

One thing is for sure we will never know.As far as I am concerned now this is a new investment case.I just hope the Nigerian asset gets completed otherwise will will head into a relist with a partner which has been round the block with some of the AIM's finest.Anyone who plays the AIM roulette knows what to expect when its time to spin the wheel.

[dr rosso] 04/2/2021 15:11

" .... aligns assets with funders and operational partners."


Fixer

[dr rosso] 04/2/2021 15:10

The first 6 months were indeed rent free



Meanwhile, over in Nigeria the office is at 3 Jerry iriabe St, Lekki, Lagos

[sirianbotham] 04/2/2021 14:01

Your right let's see what expires but generally you negotiate a release clause and pay a bit extra for the flexibility. Or you get the first six months rent free or a combination of both.

[bronislav] 04/2/2021 13:57

Sirius weren't to know after three years office space would be less expensive.From memory didn't Sirius pay up the full five years?we shall see what unfolds.

[sirianbotham] 04/2/2021 13:55

There may have been a thought that things would change in three years time but I don't think this had been planned three years ago to conclude in April. Brilliant planning if so esp to factor in a pandemic no one saw coming

[sirianbotham] 04/2/2021 13:54

Bron it's std practice to add a break clause in three year contractsI'd also take it up now as when they concluded the deal office space was at a premium. I imagine now you could take your pick and be paid to occupy it.

[astralvision] 04/2/2021 13:52

Hear what you are saying Bronislav and I hope you are right, just can't read too much into it myself.As there was a break clause in the lease, by the sound of it, then they won't have to pay the further two years, that's just how these things work and I can't see this case would be any different.It could be something as 'mundane and boring' that the office is no longer suitable for their purpose and need a much bigger one to cope with all the upcoming action, who knows?...

[bronislav] 04/2/2021 13:20

Astral.why.3 years ago they signed up to an office for 5 years and at that time put in a clause that they could leave in 3 years and according to the results intend to do so .It's obvious they can get another office , question is why do they need to when they have already got one.Did they not pay for a five year lease?

[astralvision] 04/2/2021 13:18

They just get another office?Hardly any lack of office space right now.

[bronislav] 04/2/2021 13:15

So why leave the office after 3 years which is April 2021?If we go down the route that is being suggested .relist and a growing production company.
Why did they sign up to a 5 year lease and put in the option to leave after three years .what did the company know three years in advance?
Surely this is a perfectly valid question.?

[qprallan] 04/2/2021 13:12

Agreed vat = It does sound very cloak & daggerish. I may ask her if Matpatson was involved and see if I get a reply.

[deadly nightshade] 04/2/2021 13:10

Thanks for reply Sherl0ck exciting times ahead then, febs a short month so news can't be to far away

[vatnabrekk] 04/2/2021 13:04

qpr: Mayowa Abiola may be right when she said that she didn't know Sirius Petroleum as the deal seems to have been signed with Matpatson Petroleum. Perhaps SRSP was in the sidelines waiting to source the required funding. That would make some sense I suppose.

But then, Shelf Drilling tell us that the rig is on hire to Unitech, for an initial period of 100 days. So if Matpatson Petroleum is the technical people doing the development work, then where does Unitech fit into the equation?

Lots of cooks stirring this broth!

[aventador] 04/2/2021 12:52

Relist /production or sale.Either or is good if we see profits!!! Tax gains or not.

[sherl0ck] 04/2/2021 12:02

Deadly - from my perspective it looks like following re-list we’ll become a fast-growth E&P that aligns assets with funders and operational partners. It’s a lean, efficient model which could be very profitable, especially if we see sustained >$50/barrel oil prices. I suspect we’ll ultimately become a very attractive target for a range of suitors, however, I’d hope Bobo only considers selling the company when we’ve hit a 10-figure valuation.

[deadly nightshade] 03/2/2021 23:05

No probs vat 👍

[vatnabrekk] 03/2/2021 22:52

Thanks deadly. I thought it was something derogatory, but couldn't figure what!