Sirius Petroleum Share Discussion Threads

[dr rosso] 25/4/2024 10:58

9 November 2023
Afentra is pleased to announce that it has received approval from the Government of Angola for the acquisition from Sonangol Pesquisa e Producao S.A. (‘SonangolR17;) of a 14% non-operating interest in Block 3/05 and a 40% non-operating interest in Block 23, offshore Angola (the ‘Sonangol Acquisition’) pursuant to a sale and purchase agreement between Sonangol and Afentra’s wholly-owned subsidiary, Afentra (Angola) Ltd, dated 20 April 2022, as amended and restated on 18 July 2023. The Company is now working with Sonangol to finalise the formal completion of this acquisition which, as previously announced, is anticipated to occur within Q4 2023.

One month later, and Afentra completed. Simple.


Here at Tumbleweed Towers, govt approval for blocks 18 and 31 came through in June 2023. Legally binding transaction yet 10 months later, still thumb twiddling in Yawnsville, no completion news, no update, nothing. Clearly there is SOMETHING ELSE going on, which they are not telling us about, leaving us to guess what we are waiting for.

Transfer to NewCo? Court case? What? Money not handed over?
Check out Tende Energy Angola and there`s no sign of any funding, whereas Afentra had long since had $110m in place in their Angola subsidiary.

[solarno lopez] 25/4/2024 10:41

Spot on Vat

[bronislav] 25/4/2024 10:31

Will we see Afentra drop to 42p over the very short term.?

[heliman2] 25/4/2024 09:55

If any of our board have the embarrassment gene, now is the time to show it !

[ace1976] 25/4/2024 09:40

Tende are running out of excuses time to deliver or are we going to get a new excuse for the next 6 months

[htrocka2] 25/4/2024 09:34

'...The improved fiscal terms...'

Obviously not the original deal they started with as can be seen from the increase that the Tende consortium had to put up with in 'round two'. Sounds as if a lot of 'horse trading' went on. Probably the stage we're at and ongoing.

[vatnabrekk] 25/4/2024 09:17

"allows us to proceed with the completion"
which means they haven't actually completed yet, although they have got government approval.

Similar to the stage Tende is at I think.

[rpat2] 25/4/2024 08:47

Their 3rd transaction! We have yet to complete anything !

[rpat2] 25/4/2024 08:46

Commenting on the update, CEO Paul McDade said:"The Angolan government's approval of the Azule Acquisition allows us to proceed with the completion of our third transaction in Angola providing Afentra a material equity position in these world-class assets. The improved fiscal terms for the Punja Discovery is another clear indication of the support given by the Government of Angola to parties willing to invest in their oil and gas sector. This further encourages us to continue to work with Sonangol and our joint venture partners to grow production and reserves as we develop the vast potential of both the producing fields in Block 3/05 and the significant discoveries within Block 3/05A.

[aventador] 25/4/2024 08:40

Cogs are churning let's hope for news for us soon then :)

[solarno lopez] 25/4/2024 08:04

You are correct Herman_m

[herman_m] 25/4/2024 07:49

Can't be bad news for us. Shows that the government approval stamp is working....

[aventador] 25/4/2024 06:02

Still filtered

[bumhammer] 24/4/2024 21:34

Pratt of the year

[aventador] 24/4/2024 20:34

Post of the year lmao

[aventador] 24/4/2024 20:32

Pmsl tendopoly every square is supertax.. return to go and go round get rinsed time and time again till your potless and living the spam and cardboard box lifestyle hahahaha

[bestdeal1] 24/4/2024 19:47

Go to Jail, move directly to jail, do not pass go, DO NOT COLLECT ANYMORE FUKIN SALARIES!!!

[riskybisky] 24/4/2024 16:17

"All will come out when they're ready."

so this continues.. this happy as larry stuff. What on earth has HT been told I wonder.

I guess that does give some hope

[vatnabrekk] 24/4/2024 15:26

I think they are waiting for something to be done by someone else in order for Angola to reach "Completion". In other words, it's out of their hands,

If I'm right, then there is no negotiations for them to be getting involved in. Just waiting.

Waiting for Godot, perhaps?

[aventador] 24/4/2024 15:18

When they are ready? How many more decades must we endure? Be all dead of old age time this lot reveal anything

[htrocka2] 24/4/2024 14:12

risky....past experience indicates that any news related item referring to companies must first seek permission from the company in question for intended release. Tende still wants to keep this quiet and under wraps.....it's their decision. Wild speculation may effect current negotiations, therefore not helpful. All will come out when they're ready.