Sirius Petroleum Share Price (SRSP)

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Share Name Share Symbol Market Type Share ISIN Share Description
Sirius Petroleum Plc LSE:SRSP London Ordinary Share GB00B03VVN93 ORD 0.25P
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.0% 0.40 0.00 00:00:00
Bid Price Offer Price High Price Low Price Open Price
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers -2.27 -0.09 15
Last Trade Time Trade Type Trade Size Trade Price Currency
- O 0 0.40 GBX
Related Shares
Bp (BP.), Royal Dutch Shell (RDSA), Spitfire Oil (SRO), Nautilus Marine Services (NAUT)

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Date Time Title Posts
25/11/202017:44SIRIUS PETROLEUM - CASHED UP AND READY TO ROLL107,091
07/11/202005:50SIRIUS RE RATE HAS COMMENCED993
11/10/202013:37bumhammer-
05/8/202012:57SIRIUS PETROLEUM2,486
27/6/202013:31SIRIUS PETROLEUM - CASHED STRAPPED AND READY TO FOLD2,736

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DateSubject
25/11/2020
08:20		Sirius Petroleum Daily Update: Sirius Petroleum Plc is listed in the Oil & Gas Producers sector of the London Stock Exchange with ticker SRSP. The last closing price for Sirius Petroleum was 0.40p.
Sirius Petroleum Plc has a 4 week average price of 0p and a 12 week average price of 0p.
The 1 year high share price is 0p while the 1 year low share price is currently 0p.
There are currently 3,689,299,651 shares in issue and the average daily traded volume is 0 shares. The market capitalisation of Sirius Petroleum Plc is £14,757,198.60.
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11/11/2020
23:52		vatnabrekk: I've taken another look at the recent announcement from the BoD: “The subscription will be made through a wholly owned subsidiary of Sirius Petroleum plc.” I therefore presume that they will not be handing over a fresh issue of SRSP shares to pay for 40% of ATOG, as the 40% shareholding in ATOG is to be held by a subsidiary company, not by Sirius Petroleum plc. So SRSP must be paying for the acquisition in cash, not shares. Whether they raise the funds to pay for the acquisition by a placing or by a loan, or a mixture of both, remains to be seen. “Total acquisition consideration of $11.35m will be satisfied in stage payments through 2020 and 2021.” So they don’t have to raise the full $11.35M purchase price immediately. Perhaps it is the intention to pay part of the price out of profits in 2021. “Once all completion conditions have been satisfied, Sirius will own a 40% shareholding in ATOG.” Well of course! So SRSP will then own 40% of the entire ATOG company, which means 40% of all of ATOG’s assets (i.e. fields) and of course 40% of liabilities as well. And 40% of ATOG’s Pre-Tax Profits. “…and, upon satisfaction of the additional offshore conditions [i.e. raising finance for the offshore development programme] Sirius will have an 80% economic interest in the offshore licences.” I’m not entirely clear how this is going to work, given that SRSP will already own 40% of everything ATOG. So they must have in mind some means for SRSP to benefit from a further 40% of the offshore fields, presumably to enable SRSP to service the funding debt that SRSP is required to raise for the offshore developments.
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10/11/2020
18:34		shez20: No reference to anything being conditional to funding of any other criteria Tunisia Acquisition and UpdateTransformational acquisition of Tunisian Onshore and Offshore Portfolio InterestsAdditional growth opportunities via the development of existing, appraised discoveries and exploitation across portfolio licences containing c.600 mmbbls OOIPDear Shareholder,We are delighted to report that we have concluded an acquisition which secures a 40% economic interest in the onshore assets and an 80% economic interest in the offshore assets held by Anglo Tunisian Oil and Gas Limited ("ATOG"), comprising a mix of onshore and offshore production, development and exploration assets.Portfolio summary• The ATOG portfolio comprises five onshore licences in the Ghadames basin, three of which are operated, and two offshore operated licences in the Gulf of Hammamet (see overview map).• The portfolio is currently producing approximately 1,500 boepd from three onshore licences:o OneoperatedbyATOG(BirBenTartar);o TwooperatedbyENI(AdamandBorjelKhadra);ando The increased capacity with the newly commissioned Nawarra gas pipeline ($1.2 billioninvestment) will facilitate increased production at the ENI operated licences, which waspreviously production constrained.• The portfolio contains gross 2P reserves and 2C contingent resources of c.21 mmboe;• ATOG has secured a development funding facility of $10m from Trafigura to support a businessplan aimed at boosting production from workover activity and the drilling of new infill wells;• The licences come with $14m of newly acquired and processed 3D seismic and ATOG has used this to prioritise low risk, step out drilling opportunities. Schlumberger has estimated that the operated onshore exploration licences, Sud Remada and Jenein, contain gross original oil in placeof, respectively 472 mmbbls and 100 mmbbls;• The offshore licences, Cosmos and Yasmin, contain two discoveries which flow tested at 5,700bopd and 1,200 bopd respectively; and• Management estimates NPV10 of $110m (based on the Brent futures curve) attributable to net interests in 2P/2C reserves only, but with significant further upside. Also noting that the favourable nature of the Tunisian fiscal regime means that the NPV of our Tunisia assets has an asymmetric relationship with the prevailing oil price under which Sirius will benefit more from higher prices and have an improved downside protection in periods of lower prices.Transaction summary• The interests have been acquired through a wholly owned subsidiary of Sirius Petroleum plc ("Sirius");• Total acquisition consideration of $11.35m will be satisfied in stage payments through 2020 and 2021; and• Sirius will own a 40% interest in the onshore licences and will have an 80% economic interest and operatorship of the offshore licences.Working in PartnershipDevelopment StrategyOnshoreThe ATOG business plan for 2020/21 focuses initially on low-cost well site clean-up, equipment replacement and workover activity at the producing Bir Ben Tartar ("BBT") field, delivering immediate productivity gains and boosting production by 50%, followed by a progressive well infill drilling programme that management estimates could almost quadruple BBT production post the workover activities.The Sud Remada permit surrounds the BBT field and is considered highly prospective. A total of 13 wells have been drilled, all encountering oil and gas, and a 2018 2D and 3D seismic programme has facilitated high grading of drilling candidates. Schlumberger has ascribed STOIIP of 472 mmbbls to the licence, which comes with a funded one well commitment.The Jenein permit, located c.20kms west of the ENI operated Adam concession, contains a discovery well drilled in 2010 and several prospective structures, geologically analogous to producing wells on Adam, that have been identified based on existing 2D seismic. 3D seismic was acquired in 2018, the analysis of which should allow high grading of prospects. The licence carries a one well commitment and Schlumberger has estimated STOIIP of 100 mmbbls.OffshoreThe ATOG team will focus its attention on progressing the development of the onshore licences, with the support of our technical team. As we are securing an 80% economic interest in the offshore licences, we will focus our team's attention on devising an optimal development solution for the two existing discoveries. The offshore licences, namely, Cosmos and Yasmin, contain two appraised discoveries, which achieved high initial flow rates, testing at 5,700 bopd (Cosmos) and 1,200 bopd (Yasmin).Previous estimates provide an EUR (Estimated Ultimate Recovery) of 18mmbbls from the offshore discoveries while the concessions contain mapped but undrilled structures which provide significant resource upside. The Company is undertaking further work on the development plan to monetise these offshore licences. In addition, further exploration leads and prospects will be evaluated.The Cosmos and Yasmin licences are located close to and are analogous to the adjacent Oudna field, which recovered 6mmbbls at an initial production rate of 25 kbpd and a recovery factor of 38%.Investment Summary• Management estimates NPV10 of $110m (based on the Brent futures curve) attributable to net interests in 2P/2C reserves only, but with significant further upside. Also noting that the favourable nature of the Tunisian fiscal regime means that the NPV of our Tunisia assets has an asymmetric relationship with the prevailing oil price under which Sirius will benefit more from higher prices and have an improved downside protection in periods of lower prices.• As well as a low entry cost, the portfolio boasts an attractive mix of production, development and near field, low risk exploration. The previous owner (Medco) invested little capital during its 5- year ownership of the assets, providing significant opportunity in what is an underdeveloped portfolio.• High quality and very experienced teams in both ATOG and Sirius, incentivized to deliver profitable growth.• Business plan focused on delivering production growth and productivity improvements, before shifting to higher impact offshore development and onshore exploration.• All Tunisian regulatory approvals pertaining to the transaction are complete.Working in Partnership 2Tunisia Portfolio Overview Map: Working Interests ("WI") net to ATOG:Onshore:Bir Ben Tartar ("BBT") (Production Sharing Contract) existing production of 700 bopd (Operated). WI: 100%.Adam (Concession) – production of 715 boepd. ENI Operated. WI: 5%.Borj El Khadra (BEK) (Permit) – existing production of 35 boepd. ENI Operated. WI: 10%.Jenein Centre (Permit), Operated. WI: 65%.Sud Remada (Permit), Operated. WI: 100%.Offshore:Cosmos (Concession). Discovery well flow tested at 5,700 bopd Contingent and Prospective resources. WI: 80%.Yasmin (Concession). Discovery well flow tested at 1,100 bopd. WI: 100%.We are delighted to secure this opportunity, particularly as it brings entitlement production and a low risk development programme to the Company. We also believe that there is considerable upside in the onshore portfolio, which is located in a proven, but underdeveloped hydrocarbon province, and we are excited about developing and operating these offshore assets.Future Acquisition OpportunitiesAs previously stated, the Company continues to work on opportunities in Nigeria, as well as other parts of Africa, which are each at varying stages of reappraisal and development following the period of volatility in the oil market. Despite that, and the challenges presented to us all by the pandemic, we continue to work with funding partners and our range of operating consortium partners on the optimum route to progress assets that meet our respective investment criteria. The Company will update shareholders on each project as and when it is commercially appropriate to do so.Intention to seek a listing on AIMIn addition, the Company has commenced the process for the proposed admission of the Company's ordinary shares on London's AIM market in 2021. We will update shareholders on this process in due course. Working in Partnership 3Annual Report & AccountsIt is the intention of the Company to send the Annual Report and Accounts and Notice of Meeting to shareholders in order to hold the Company's Annual General Meeting this year.We are very aware that there is much more to accomplish and we will continue to work hard to bring further opportunities to completion as we now have an excellent platform on which to achieve our goals for the Company and its stakeholders.Yours sincerely,Bobo Kuti Chief Executivewww.siriuspetroleum.com Working in Partnership 4
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09/11/2020
15:56		only1gibbo: CT - I'm no expert on CGT (and so the following does not constitute advice, you should get professional advice based on your own personal circumstances) but things you might want to investigate and consider for shares in a trading account include. 1. The annual CGT tax free allowance of £12,300 2. Depending on when we relist may be able to sell chunks either side of tax year to double up annual tax free allowance 3. I believe 20% is if you are a higher rate payer. If lower rate then I believe taxed at 10% until gains take you over the basic rate earnings, then you pay 20% on amounts above that. 4. If basic rate payer consider sales either side of tax year to maximise amount taxed at 10% 5. Gift some to spouse (providing not separated) at nil/gain loss. Spouse can then sell and utilise their annual CGT allowance (again possibly sell either side of tax year to double that up. (Cost of shares for spouse is the amount you paid for them) 6. If spouse isn't a higher rate payer, then consider gifting amounts so that any taxable amount only gets taxed at 10%. 7. Again consider spouse selling either side of tax year to maximise amount taxed at 10% if they are basic rate payer. Obviously if you spread sells either side of tax year you run the risk/reward of share price movements / suspension again in the intervening period. Risky Sadly no time limit, and no indexing allowances either anymore. "Can I sell to the point of equalling the money I spent buying them? Then worry about CGT only after that." No each share you sell crystallises a CGT gain or loss. "Or must I take into account other shares that I may have bought and sold over the period. I would think this is the case." Yes, you will be taxed on total gains for the year. You may be able to offset any losses and also any unrelieved CGT losses brought forward. Also don't forget, if you bed and ISA that crystallises a CGT gain/loss, so take that into account if working out how many to bed and ISA. A good and cheap starting point for advice is https://www.gov.uk/capital-gains-tax/report-and-pay-capital-gains-tax If in doubt obtain professional advice, it'll be worth it if you have a potentially high CGT bill to pay. Preferably obtain any advice before you act.
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07/11/2020
16:25		htrocka2: htrocka2 2 Nov '20 - 17:43 - 106489 of 106606 Edit 0   1  0 Chill Oliver... I took this from ZEN's rns today....the reason for posting is because they're in the process of making a couple of deals in Tunisia (as DR suggests that srsp may also be doing)….the deals are still 'conditional subject to regulatory approval'..never the less, ZEN (no interest my self) are moving forward and only have a Market Cap of £1.37m....(that's just a little over SRSP's overheads for a month)….surely srsp can do better than that. (also note the length taken in the Tunisian regulatory approval time span.) If srsp are making deals in Tunisia, surely they'll be commended to the government by the TAC team and have the process sped up. response... Give it rest pal...no one's interested.
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02/11/2020
17:43		htrocka2: Chill Oliver... I took this from ZEN's rns today....the reason for posting is because they're in the process of making a couple of deals in Tunisia (as DR suggests that srsp may also be doing)….the deals are still 'conditional subject to regulatory approval'..never the less, ZEN (no interest my self) are moving forward and only have a Market Cap of £1.37m....(that's just a little over SRSP's overheads for a month)….surely srsp can do better than that. (also note the length taken in the Tunisian regulatory approval time span.) If srsp are making deals in Tunisia, surely they'll be commended to the government by the TAC team and have the process sped up. rns extract 'On April 20, 2020, and on September 8, 2020, Zenith entered into two separate conditional acquisitions in Tunisia from KUFPEC and CNPC respectively, two world-renowned oil companies, for their respective working interests in the Sidi El Kilani Concession. Upon completion, conditional upon regulatory approval being granted by the Comité Consultatif des Hydrocarbures ("CCH") of the Republic of Tunisia, it is expected that Zenith will have a daily production ranging between 250-300 barrels of oil per day. The Board of Directors is highly satisfied with the commercial terms agreed for the transaction and is currently exploring further opportunities of this kind.' '....and is currently exploring further opportunities of this kind.' Let's hope we find them before they do.
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31/10/2020
15:06		htrocka2: Bron...just a quick one before your break.... 'Only question mark is how much..' Surely the amount each shareholder gets would be based on the share price ...to do this the company would first have to be relisted?....then the market would decide what the true value of the company is. As 'Wonga' have accumulated circa 100+m shares...to liquidate these shares a relist looks a certainty....and to relist at a good price...it needs to be good AD....( for all we know, the 'Wonga' shares may also have a 'lock-in' period attached to them.)(my opinion only)
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21/10/2020
07:48		stbilow: Antenna2 - 09 Jul 2011 - 11:24:05 - 3385 of 99896 SIRIUS PETROLEUM - CASHED UP AND READY TO ROLL - SRSP I would like to remind everyone of my previous post below. I believe next week will be very sunny and bright! All of course IMHO. Our company is progressing very well. Hooster is correct we are looking at September/October. The deals that are going to be announced are looking very exciting (large). I’m sure you all know funding will be debt + placing. With the placing, the share price has to be a lot higher than where we are now before we are suspended. So look out for any company announcements that might help our share price and possible snippets in the press. With debt, once we are pumping this will be paid off very quickly. The next ten to twelve weeks are going to be very interesting. Share price – someone said 50p by Christmas. That does sound bullish in my opinion but who knows. However it will certainly be a lot higher than where we are now. But don’t forget our company is working on a number of other deals that could be announced in the coming months. All the above, of course IMHO. Good luck to all. We will all be awarded for our patience very soon.
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14/10/2020
19:01		htrocka2: "Houston, we've had a problem", Not any more we don't...bummer's on filter...so I haven't got to read his garbage any more......if he wants to remain on friendly terms (LOL)...I suggest he does the same. HTTPS://uk.advfn.com/stock-market/london/iconic-labs-ICON/share-news/Iconic-Labs-PLC-Update-on-financing-negotiations/83458907 (there is no 'whitewash' clause or Leter of Intent in place, therefore if 'ICON' issue any more shares to 'wonga'...'wonga' will have to make a bid for the company...at a price being the highest share price within the past two years) (He's 'new' to srsp..(unlike those that have been here for twelve years and earned the right to object....whereas he started out being obnoxious...and you know what they say about leopard and spots. goodbye bummer...(take my advice...seek some help) .
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10/10/2020
14:32		htrocka2: Just a quick revamp on the 'Wonga'/ICON situation... Why would 'wonga', having been rejected and paid off by ICON (as in the srsp parallel) suddenly, out of the blue, within a couple of days, pounce on the company that rejected them, and acquire a 24% holding?....The fact is that 'wonga' have been in detailed discussion with their client so as to obtain funds and as a result may be privy to plans/information that has since materialised , hence privy to circumstantial info that was still 'in the offing' at the time of the loan, hence not released. The point being, I'm certain that as a result of money loaned to srsp by 'wonga' they have more idea of their plans than we do...You may ask, 'why has the Jenkin's site not moved'...the answer being that 'Wonga' have been told that srsp WILL relist, but to tie up sums of money for an unknown, indefinite period with still yet more shares to be issued, is bad business. The moment srsp releases a relist date.....the fireworks will begin and the Jenkins site will be wiped out. (my opinion only) from the AR. Subsequent events On 5 January 2019 the Group announced that it had agreed a convertible loan of up to £5 million, of which £1.75m has been drawn down to date and £3.25m remains available to draw down, on admission of the Group’s shares to AIM. Question....Will srsp take up 'Wonga's' offer? (ps...note AIM and not Main Market)
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26/9/2020
10:00		htrocka2: vat... with respect... '...to raise the farm-in fee using the company's share of production as collateral, similar to the business model for OML 114...' A field operator will not release or sign over a percentage of the field without a 'farm-in fee' being paid....from a funders perspective, the above business model doesn't make logical sense...the 'funder' will require the collateral of production until the farm-in fee is repaid.....so why does the funder need srsp in the first place?. The funder can go 'direct' to the operator and by-pass srsp should he so choose...it seems that srsp just want something for nothing, some would advocate that this is good business.....while others suggest that maybe that's why we haven't got anything or any deals signed off yet? (remember the COSL 'drill first-pay later' deal, it sounded like a good deal...but came to nothing.) I appreciate these comments are a bit harsh...but these are facts and this is the real world. Using the production as collateral model...why stop at a small 'farm-in'? why not take over BP...or Exxon...or Chevron...or all three at the same time) Joking aside,the bottom line is this....The funders hold all the cards, the ACEs, the Trump cards and control 'the game'...the bankers bankroll all the operations and have the final say without whom nothing moves......and as far as srsp are concerned...nothing has moved.(that we're aware of any way)...it's true that some one is allowing srsp to survive....but when you have the company's top chiefs refer to their $20m debt as 'an asset', they live in a different world to us.. and maybe this is what they're borrowing money against.? The last two AD's and relists were based on proposals that never materialised....that model is now dead.
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