Sirius Petroleum Share Discussion Threads

[xerot] 31/3/2024 17:05

Hugo you do one you total berk. Hugo what kind of name is that? You sound like a back scuttler.

[futureisbright] 31/3/2024 12:33

Singapore-based floater specialist Yinson Production is dispatching to Angola topside modules for the Agogo floating storage, production and offloading vessel (FPSO).
The AGOGO FPSO will be operated by Yinson Production in the West Hub field of Block 15/06 offshore Angola for Azule Energy, a joint venture between BP and Eni.
The first shipping is scheduled for May and will involve both domestic transportation within China and international shipping from Indonesia and Vietnam to China.

[ace1976] 31/3/2024 11:20

HT so we can take that as xerot wasn’t told what he is saying then,or was it one of the board members giving him free shares ,telling him to say it,which wouldn’t make this outfit look very proffesional

[htrocka2] 31/3/2024 10:59

It's just over a year now since the 164m shares changed hands.That's more shares than all of us on this thread put together. Nobody buys that sort of quantity, spends that sort of money....on a punt or a whim. It's costing 'him' about £150k a year, ie £3,000 per week in interest to have that cash sit there 'doing nothing'. He's going to want his money back with lost interest and a profit.


JP site
30/03/2023 164,365,714 2.00


(31/01/2023)website
Group Operational Update-Commercial Update

'Proposed Listing Process'
The Company continues its work to prepare for a listing for the company’s issued share capital on the LSEG”s AIM market, and intends to undertake this once the proposed acquisition of the Angolan interests is completed.'


The buyer of the 164m shares was well aware at the time of purchase that these shares would NOT relist until the Angola deal had been completed, yet still went ahead with the purchase.

The Angola deal has not, as yet, been concluded. This could mean extra shares being issued. Any info released regarding other assets prior to the Angola conclusion, may effect the current company valuation effecting the share price and become an obstacle to the negotiations. As the person holding the 164m shares has accepted, Let's wait for the Angola deal conclusion....and we're home and dry.



The Angolan deal began life based on crude oil being $75 p/b....todays price is $87 a barrel ($12 higher).....has this become a bone of contention? with both sides trying to reach a new consensus.(As I posted earlier.....the deal has been 'jacked up' once already.)

[ace1976] 31/3/2024 10:49

One way to solve this were people told after the meeting it’s dire and a long time in the making

[14hugo] 30/3/2024 21:46

Xerot… do one

[astralvision] 30/3/2024 18:56

No problems, you're right, it doesn't appear to be on the web site. It should be, but no real surprise. Would be good to have things like that and the most recent presentation on the site.One day perhaps.

[aventador] 30/3/2024 18:18

I stand corrected wasn't shown on the Tende website last news was June ha.

[ace1976] 30/3/2024 14:37

If they said Q2 probably means Q3 if we are lucky

[astralvision] 30/3/2024 12:13

It was 6th December 2023Tende Energy plc("Tende Energy" or "Company")Group Operational and Commercial Update London, 6 December 2023: Tende Energy, an Africa-focused oil & gas development and production company is pleased to provide a group operational and commercial update.Nigeria OML 65 FTSA – Phase 1 Abura Field DevelopmentThe initial phase of the Abura development prioritised the mobilisation and integration of the joint venture management and operational groups to execute the Financial Technical Services Agreement ("FTSA") working in conjunction with Nigeria Exploration and Production Limited ("NEPL"), the upstream arm of the Nigerian National Petroleum Company Limited ("NNPC"). Additional analysis included essential subsurface work to determine the optimal economic and engineering programme for an initial series of workovers to existing producing wells.Well Intervention OperationsThe subsurface work entailed an ongoing review of the existing static and dynamic models of the Abura field, incorporating the latest production and pressure history. This subsurface data modelling combined with the ongoing field production data across 15 wells/strings enabled the team to identify several high-impact workover opportunities on existing wells which could add material production.As a priority, these opportunities were ranked in a work programme of near-term well interventions with Baker Hughes who mobilised a team on site performing well interventions on the first series of wells: Abura 8L and Abura 11L which are expected to be completed at the end of December and are expected to add 1,000 – 1,500 bopd to gross production. A further well intervention is planned at Abura 4L during Q1 2024 which is expected to add incremental production of 500 bopd.In addition, the operational team undertook a study for the optimisation of production facilities to accommodate the additional crude stream which will be put through the system as the initial workover programme is completed.Current production at Abura is now running at c.13,000 bopd as a result of the optimisation of production facilities and infrastructure. Further workovers are programmed to be undertaken during the early part of 2024 to add additional incremental production.Drilling of New Production Infill WellsThe operational team is finalising the overall work scope planned for the Abura drilling programme for 2024. Drilling of the first two of the new production infill wells focused on established horizons is expected to spud during Q2 2024 and the second in H2 2024, in line with the 2024 programme. These are expected to add a further 4,000 bopd of gross production from the Abura field. A third new infill well is also expected to spud during H2 and this target will be assessed as part of the ongoing appraisal of the Abura field as the team builds on its knowledge base through each new well.At the commercial level, and with base volumes methodology under the structure of the FTSA having been agreed, the crude lifting programme regarding OML 65 entitlement is in the final stages of being established for the 2024 loading programme.As previously announced, the Company has facilities of up to US$200m senior loan facility allocated to Phase 1 of the OML65 Approved Work Programme ("AWP").OML65 FTSA Governance and ManagementTende Energy holds a 30 per cent interest in the joint venture operating company CMES-OMS Petroleum Development Company Limited ("COPDC"), with a board led by Dami Onajide (Tende Energy's Development Director) and Bobo Kuti (CEO, Tende Energy).OML65 Management Committee ("ManCom")The conduct and execution of the OML65 FTSA is overseen by a Management Committee, which is responsible for the high-level review of the financial, operational, environmental and sustainability performance of the OML65 FTSA as well as approval of budgets and work programmes. The ManCom includes 4 representatives from COPDC including COPDC Managing Director, Dami Onajide and Bobo Kuti, COPDC Vice-Chairman and 4 representatives from NEPL.OML65 Joint Project Management Team ("JPMT")The operational management and administration of the OML65 FTSA is overseen by the Joint Project Management Team which consists of eight members: 4 from COPDC and 4 from NEPL. The COPDC operational team is led by Victor Ekong, who has over 25 years of senior management experience in upstream oil and gas with IOCs in Nigeria. Mr Ekong is supported by seasoned subsurface experts spanning geoscience and engineering, with significant operational experience in Nigeria, including with IOCs.TunisiaIn June 2023 Tende Energy took 100% control of ATOG Midco Limited, together with its subsidiaries (collectively "ATOG"), following the acquisition of a further 90% equity interest in ATOG.Tunisia OnshoreThe portfolio in Tunisia is currently producing approximately 700 boepd net from the three onshore licences: Bir Ben Tartar (operated, 100% Working Interest "WI"); and two operated by Eni (the Italian multinational energy company): Adam (5% WI) and Abir & Bochra (5% WI for producing fields).The operational team in Tunisia has made excellent progress during the last three months since commencing a work programme at the Bir Ben Tartar concession which has included well Intervention/workover activities on shut-in wells between July and September:* 5 rig less interventions on the TT2, TT7, TT18, TT19 and TT21 wells mostly to change the downhole pumps;* Two workovers, using the Eagle drilling rig, of the TT3 and TT15 development wells to change damaged tubing; and* These activities contributed to an increase of the average daily production of the concession from 190 bopd to 400 bopd.In addition, the drilling of the TT27 development well began on October 27th 2023 using the Pergemine-29 rig. The well reached a total depth of 1,465m in mid-November and has been successfully logged. The well is expected to enter production during Q1 2024 together with the TT34 well which was originally drilled in December 2021.Further to these activities, the average daily production of Bir Ben Tartar Concession is expected to reach 800 bopd and net production from the onshore producing assets to 1,100 boepd by the end of Q1 2024. The possibility of further rig interventions early next year to refrack existing wells is under review and could add significant additional production.The Company executed a lifting of 75,500 barrels (net to ATOG) with Trafigura at the end of September, as part of a co-loading with Mazarene Energy, achieving a net price per barrel of $92.40. Given current production levels, we anticipate another lifting of a similar volume in Q1 2024.Tunisia OffshoreThe initial Cosmos discovery (ATOG operator, WI 80% and ETAP (the Tunisian National Oil Company) 20% WI) achieved a combined flow rate of 5,700 bopd under well test and recently updated estimates provide an Estimated Ultimate Recovery of 15-20 MMboe for the initial phase of the development.The Company is pleased to report that all these activities were completed ahead of schedule, within budget and with no lost time to injury. These are the first upstream activities to be undertaken by an exclusively Tunisian crew and supporting team in the history of the Tunisian oil and gas industry, an achievement of which we are particularly proud. This is a testament to the experience, technical expertise and professionalism of our team in Tunisia. We look forward to further developing the Bir Ben Tartar concession and progressing the development of the valuable offshore Cosmos concession.AngolaTende Energy is working in partnership with Etu S.A., the largest privately owned Angolan oil company, in the Tende-Etu consortium which has signed Sale and Purchase Agreements ("SPA") with Sonangol Pesquisa e Produção S.A. ("Sonangol"), Angola's state-owned oil company, to acquire participating interests of 8.28% and 10% respectively in the producing Angolan offshore Blocks 18 and 31 and a 25% participating interest in the exploration Block 27 ("the Proposed Acquisition").  Blocks 18 and 31 are world-class producing assets (combined gross daily production of 120,000 bopd), supermajor operated with considerable medium-term development potential.The Company is working towards completion of the proposed acquisition having satisfied the majority of the conditions precedent.Proposed London ListingOn completion of the proposed acquisition of the Angola interests, it remains the firm intention of the Company to prepare for a listing for the Company's issued share capital on the LSE's AiM market.ends.

[only1gibbo] 29/3/2024 22:39

Risky, In what I hope is a good omen for everyone here, my other African based holding that I mentioned on Wednesday, announced yesterday that they are flying out to DRC with a UK Gov trade delegation during April to hopefully finalise the deal they first signed way back in July 2021. As I said, things move slowly in Africa, but are hopefully worth the wait in the end.

[bronislav] 29/3/2024 12:55

Thanks HT for the reply...your new found zestvfor this investment is filling me with confidrnce.My cup overfloweth.You have more information than the investor relations bloke.

[ace1976] 29/3/2024 11:25

Unfortunately that’s the impression you get from this lot when family or friends say you have been scammed after telling them
This is the year you can’t really say much back

[elliotset] 29/3/2024 11:15

They all just collecting there salaries , they couldn't give a toss

[htrocka2] 29/3/2024 09:48

Bron...'sell off or listing?'

I'd prefer the listing, mainly because that way we can control our exposure to the CGT. With a 'selloff'...there's no control..it'll be a case of 'BANG'...Pay 100% of the CGT immediately all in one hit.The other point being, it's difficult to foresee a buy-out if Trafigura have sewn in legally binding off take agreements for years to come, which begs the question, if all the off-takes are 'sewn up', what is the potential buyer buying?


Aventador......chill...It's all coming together....

'In addition, the drilling of the TT27 development well began on October 27th 2023 using the Pergemine-29 rig. The well reached a total depth of 1,465m in mid-November and has been successfully logged. The well is expected to enter production during Q1 2024 together with the TT34 well which was originally drilled in December 2021.

Further to these activities, the average daily production of Bir Ben Tartar Concession is expected to reach 800 bopd and net production from the onshore producing assets to 1,100 boepd by the end of Q1 2024. The possibility of further rig interventions early next year to refrack existing wells is under review and could add significant additional production.

The Company executed a lifting of 75,500 barrels (net to ATOG) with Trafigura at the end of September, as part of a co-loading with Mazarene Energy, achieving a net price per barrel of $92.40. Given current production levels, we anticipate another lifting of a similar volume in Q1 2024.'

[aventador] 29/3/2024 08:58

Soon be April 4 months into year and naff all happened again!!! Happy Easter

[ace1976] 28/3/2024 14:52

Oliver must be the secretary then

[bronislav] 28/3/2024 14:44

Ht.you like me have been here as long as people like JOHN BICK etc.Whsts your take .selloff or listing.??

[htrocka2] 28/3/2024 14:29

'Why would they be important Bron?'


Tende have the same backers and are no doubt negotiating with the same Angolian authority that control the final outcome..in effect, Tende and AET are in the same 'boat'. The difference being that Tende are part of a consortium, this could require further 'horse-trading' with the 'partner' and funder. (As far as I'm aware, we've not been told what percentage Tende/Trafigura hold in the 'Consortium or who's funding ETU's percentage?)....(We're definitely short on info here.)...I'm going for a Q2 Update.




Ref Afentra...
Entered into financing agreements with Trafigura PTE (’Trafigura217;) in relation to financing the Sonangol and INA Acquisitions, including a Reserve Based Lending (‘RBL’) and revolving working capital facility:
• 5-year RBL facility with up to $75 million available to finance the Acquisitions (8% margin over 3-month Secured Overnight Financing Rate (‘SOFR’));
• Revolving working capital facility for up to $30 million to finance asset funding requirements between crude offtakes
(4.75% over 1-month SOFR).
• The Company also entered into an offtake agreement with Trafigura for Afentra’s crude oil entitlement lifted from the Acquisitions.1

[bronislav] 28/3/2024 14:12

Speculation xerot.But we have followed their lead with their updates followed by ours.I would suspect if it a buyout then everything will be in place legals etc and something holding it up.Lots of folks suggesting Angola was sorted a while ago with us ahead of Afentra.Be interesting to see if we do have a connection with Afentra.