Sirius Petroleum Share Discussion Threads

[aventador] 24/9/2020 08:41

Well Autumn is here will they stick to there words and get a deal signed off on this new rumoured asset.Let's hope so 2021 needs to see this relist and allow us to get trading again.

[dr rosso] 23/9/2020 22:13

Page 11 "Current intention to farm-down interest in Mahdia to credible joint-venturer(s) to reduce costs, mitigate potential risks."

[minichris] 23/9/2020 22:06

Henderson?

[rpat2] 23/9/2020 21:12

Dunraven resources cfo link......?????

[carc] 23/9/2020 20:09

No worries captminion, and I can't disagree with what you're saying. Good luck to you too!

[captminion] 23/9/2020 19:31

carc thanks for trying to explain the new findings but it remains an Enigma to me. I put my money into Ororo so any mention of Tunisia and I immediately go to tilt! But I’m glad your not an imposter although you must have been AWOL for a long period of time. My only observation would be is that all these unsavoury characters and murky dealings you mention doesn’t give me much confidence in the legitimacy of this and or any previous dealings. But regardless I’ll take anything at the moment good luck !

[minichris] 23/9/2020 18:59

What I cant explain is why ATOG who had the option to secure financing from Trafigura as part of their deal, would turn that down in favour of whatever Sirius are offering.

[dr rosso] 23/9/2020 18:53

ATOG spun off from dodgy AAOG to acquire and develop a number of attractive licences in N. Africa. As with many O&G start-ups the big problem has been finance. Firstly an Alpha loan, then a further bottom-of-the-barrel foray into CLN world of Riverfort and Yorkville.

The interesting thing about ATOG is that it is full of Sirius-associated personnel. If they could procure reasonably structured finance and pay off the trio of death spiral merchants, the smallish (10mb)offshore assets look ripe for development by what is basically the same technical consortium that Sirius has put together.

[carc] 23/9/2020 18:44

Been around a long time Captminion and I'm just as frustrated as you are. Which bit is confusing? Drrosso posted an interesting link to ATOG - who last November signed a deal to acquire Tunisian assets from Medco Energi, an international oil and gas E & P. Leading up to the acquisition, the directors of Alpha Blue Ocean group (who provided the wonga loan to Sirius last year), were also directors of ATOG.Shortly after the acquisition, Jon Taylor who is/was a Sirius advisor was appointed as a director of ATOG. The acquisition was executed via an SPV subsidiary of ATOG called ATOG Midway Ltd who now own the assets. Jon Taylor and one of the Alpha Blue directors, Hugo Pingray, are still currently directors of this company.

[shez20] 23/9/2020 18:41

Carc is a good guy and is definitely not edgin

[sirianbotham] 23/9/2020 16:00

An interesting link DRRosso. I noted that the last change on companies house to atog was in September 2020 where Mr Jon Taylor changes his details to Mr Jonathan Mark Taylor. Perhaps he was bored or something didn't match!

[carc] 23/9/2020 14:14

Pingray is also a professional poker player so fits in well with our BOD.

[carc] 23/9/2020 14:10

Cheers Chris, got it. Dated January so I guess that report is inaccurate. Assets purchased from Medco via subsid ATOG Midco Ltd where Hugo Pingray is still an active director...

[minichris] 23/9/2020 13:56

@Carc

Trafigura provided the funds, its listed on the charges section here -

Apparently you cant link CH to ADVFN... just look at ANGLO TUNISIAN OIL & GAS LIMITED charges on CH

[carc] 23/9/2020 13:51

As of March 2020, proof of funding required for deal to be authorised. If Sirius is involved then perhaps this isn't the turn key but another one for the pipeline.hTTps://www.espacemanager.com/exclusif-tout-sur-lenigmatique-affaire-de-la-cession-des-permis-sud-ramada-et-jenein-center.htmlMuch ink has been spilled since the announcement on Monday by Canadian oil and gas company Zenith Energy, which informed that it had agreed to acquire an active operating interest (WI) in a field. on shore oil tanker in Tunisia.Speculation has gone all over the place about this affair, especially as the Canadian production company has not disclosed the company with which it is in talks for the acquisition of this block in Tunisia, which currently produces according to its said 700 barrels of oil per day (bopd) and generates an annual gross income of about $ 15 million and gave no information on its location.Better still, it turned out that the Tunisian authorities, and in particular the Tunisian Petroleum Activities Company, which is the partner of any foreign company that prospects, explores and produces oil or gas in Tunisia, was not aware of the matter.Espace Manager tried to do its little investigation into this enigmatic transaction and we managed to collect the following information.The transaction to sell Medco's interests in Tunisia was apparently negotiated in the first place between Medco and AAOG (Anglo African Oil and Gas), a company owned by the Canadian oil and gas production company Zenith Energy and which has a minimal concession in Congo.Negotiations between the two companies did not result in an agreementA company was subsequently created in April 2019 between two AAOG officers (James B and David S) called ATOG (Anglo Tunisian Oil and Gas) primarily to complete the transaction with Medco.But this new company did not verify the requirements provided for by the hydrocarbons code in Tunisia (acquisition conditions, technical and financial capacities).In June 2019 and in its letter to the General Directorate of Hydrocarbons in Tunisia, ATOG apparently introduced itself as an AAOG affiliate.The transaction was completed on November 18, 2019 and the Hydrocarbons Advisory Commission (CCH) clearly requested the deposit of bank guarantees covering the obligations on the South Ramada and Jenein Center permits, as well as a penalty on Hammamet offshore.Although the deadline set by the CHC for finalizing the bank guarantees was February 21, 2020, nothing has been paid so far.This suggests that ATOG does not seem to have the financial resources to pay the bank guarantees required by the consultative commission of hydrocarbons (CCH), to honor its commitments with Medco, as well as its contractual commitments (a well exploration on South Ramada and another on Jenein Center scheduled for 2020). What apparently involved the reappearance of Zenith Energy in this affair to try to conclude it as announced in the press release released on Monday.This is why the kind of press release disseminated to announce the acquisition of an active exploitation stake (WI) in an onshore oil field in Tunisia, seems only a media stunt seeking the impact of the announced effects. likely to influence banks and investors.Knowing that we were informed, during our investigation, that no concession of an oil field on the territory and in the Tunisian territorial waters, can be made without the approval of ETAP and without the respect of the hydrocarbons code in Tunisia.

[minichris] 23/9/2020 13:49

Again, I dont get your point, im not debunking Rosso, I also think he is onto something and am trying to work out if his theory holds water.

[bumhammer] 23/9/2020 13:32

MiniChris you could Police someone like Htrocka2 for pumping out useless nonsense regarding SRSP on a daily basis, yet you seem to go after Dr.Rosso whenever he comes close to potentially lifting the lid on something. just an observation. Doesn't mean I'm correct though.

[minichris] 23/9/2020 13:24

Rough timeline of events (please fill in the gaps) -

January 2019 - Sirius takes the Blue Ocean loan
February 2019 - Sirius suspends
March 2019 - ATOG formed by Mr Anthony James Berwick
March/April 2019 - Blue Ocean boys take directorship positions in ATOG
April 2019 – ATOG strike a deal with Trafigura to finance the acquisition of the the share capital of ATOG Petroleum BVI from Medco Energi
June/August/November 2019 - ATOG/Trafigura deal gets amended
November 2019 – ATOG completes acquisition
November 2019 - Ocean Blue boys resign
December 2019 - Taylor joins ATOG as director

Footnote –The ownership of ATOG/ATOG Pet BVI et al are disputed and the murky AAOG thing raises eyebrows too.

[xerot] 23/9/2020 13:14

Debunkked it

[vatnabrekk] 23/9/2020 13:03

Dr Rosso, which small project do you have in mind as the starter?

[minichris] 23/9/2020 12:53

What exactly have I debunked?