Sirius Petroleum Share Discussion Threads

[punxsutawneyphil] 26/7/2024 23:35

Let us see what tomorrow brings ...

[futureisbright] 26/7/2024 18:04

Etu


On the 24th of July, we signed the production sharing contracts for Blocks CON 2 and CON 8

Thus, we will be the operator in Block CON 2, with the companies Effimax and Simples Oil as partners.

In Block CON 8, we will also be the operators, with EffimaX, Simples Oil and Enagol as partners in the contractor group.

[oliversanvil] 26/7/2024 14:54

I have been looking daily in the obituary sections of newspapers --The BODS are not responding because they are all dead.! Apparently from obesity! Due to too much oil/fat in lifestyle!.

[htrocka2] 26/7/2024 11:18

I noticed that the Accrued Salaries of $376,873 in the 2021 Accounts no longer appeared in the 2022 Accounts(page 14)...presumably they got paid.

Stuff the toilet paper...we'lll take the money...cheers.

[bsg] 26/7/2024 10:56

They'll relist when they can't get any funds from elsewhere, I guess. Not at > 10p alas but probably < 0.1p.

[htrocka2] 26/7/2024 10:43

They'll have to go cap in hand to Trafigura and ask for either more cash, extend existing facility or restructure...take your pick, however, you have to ask yourself....how will Trafigura view the appeal for more funding?.....They're a business, not a charity.

[p mac] 26/7/2024 10:14

interesting to see how they can raise cash from Shareholders, without a plan to re-list

[htrocka2] 26/7/2024 09:26

There have been at least three AIM O@G companies in the last month that have had to raise more cash via the market/shareholders because they had missed their target dates. I've no doubt that this company is in the same predicament.

[dr rosso] 25/7/2024 20:41

Presumably the above post is referring to this. Signed at the same time as 18/31, and with same divestor.


Sungara sets out $500mn deal to buy into Block 15/06

› angola-sungara-deal-stake
Apr 29, 2022 — Sungara Energies has signed a deal to buy a 10% stake in Block 15/06, offshore Angola, from state-owned Sonangol.


Meanwhile Afentra wins another KON block in Angola.





Looks like everything is agogo except one, the deal involving Tende Energy.

[futureisbright] 25/7/2024 17:21

Finally concluded!!??

The Agogo Development Area was integrated in the Unified Development Area in Block 15/06. The production period of the Unified Development Area will run until 8 March 2045. This was approved by MIREMPET Executive Decree 145/24, of 24 July 2024.

The Agogo field is located approximately 180km offshore the northern coast of Angola in the Lower Congo Basin. The block is operated by Azule Energy.

If this then bodes well for ‘our’ ‘assets’, time line, AD and ‘re-list’;, I fear not. If that fear is true then we’re all resigned to Drrosso most accurate post to date - 136253 - “funding conduit”

[vatnabrekk] 25/7/2024 17:20

Who's books is the $200M loan sitting in? In other words who is the official borrower? Is it COPDC (the holder of the OML65 contract with NNPC) or is it Tende?

[dr rosso] 25/7/2024 16:39

Feathering the mates' nest brings big reward from fellow Nigerians. $231k salary with a brucie bonus of $306k.Copdc folk keep 100% of baseline 10k bopd and 70% of incremental. Where are we now after workovers, 16k.Tende scoops up 30% of 6k. That's less than 2k bopd for raising $ 200m+. Peanuts. Explains why BoD chooses not to spell out the details at the annual mad hatter show.Nice work for some. Look after your mates and they'll look after you.

[punxsutawneyphil] 25/7/2024 16:29

Let us see what tomorrow brings ...

[htrocka2] 25/7/2024 16:27

vat....It's not called lying, it's referred to as being 'economical with the truth'....Don't forget, our CEO is a Nigerian..... How times has he told us that this will relist soon.....I make it about six..

[vatnabrekk] 25/7/2024 16:08

I can't believe that they would be so silly as to lie to some big Nigerian heavyweights! And if they have, then I wouldn't fancy being in their shoes!

[htrocka2] 25/7/2024 16:02

You'd have thought that writing off about $13m on the Ororo fiasco and the closing down of various Nigerian subsidiaries that lessons would have been learnt before re-entering the Nigerian lions den.....but hey, they managed to convince a few heavy investors that this is a good deal...that's all that matters (to them)...If it comes off, all well and good, if not, either way, they'll still get paid.

[dr rosso] 25/7/2024 14:23

It`s as if BoD is being paid to channel incoming funds through to third parties, in which a small stake is taken, so keeping the business afloat. A funding conduit. Whilst BoD are coining it in, there`s nada for the shareholders for whom there`s without fail a condition which prevents access to invested funds. When a particular obstacle disappears, another one pops up. The scheme works even better when we don`t know what they are exactly.

A never-ending cycle which is extremely rewarding for those being gifted $200k+ year after year. Not so good for the rest of us, fobbed off with false promises which, after a while, become recognised as downright lies.

[bsg] 25/7/2024 13:22

Just accept that this is a dud and move on.

[htrocka2] 25/7/2024 09:47

Cheers vat....That's more disappointment for Tende shareholders....In my view, the best thing they can do now is to call it a day and pull out of the Angola deal....it's obviously not going well and just concentrate on what they've got. For Tende, Angola is a 'Bridge too Far'.

A lesson from history..
'The Allies struggled to control the northern end of the road bridge, but soon lost it to the superior German forces. The only thing left was retreat-back behind Allied lines. But few made it: Of more than 10,000 British and Polish troops engaged at Arnhem, only 2,900 escaped.'

Tende may have lost the Angola battle.. let's hope they don't lose the 'war'.