Sirius Petroleum Share Discussion Threads

[htrocka2] 01/5/2024 12:44

probably Omega were not happy with 'pay-off' and expected more that was refused.....which brings us to the present predicament.


You must remember the Tende initially only bought 10% from Omega, who owned , according to the ATOG Company House, between 25% and 50% of ATOG...yet Tende now claims 100% ownership of ATOG......so how did they manage that?.

[htrocka2] 01/5/2024 09:02

As we're constantly being told that 'it's out of their hands',the Angola is 'done and dusted' with Nigeria hardly operating at 'break neck' speed.....implies that it's all down to the court case outcome. Initially. we're told that it's just a formality....so why have they brought in 'the heavy guns' for defence?.This case is important especially if a claim for a large slice of the company is being made. One of my points of curiosity is 'why did Omega ditch 164m Tende shares?' ....(that were snapped up).

[bumhammer] 01/5/2024 07:17

Thanks for your analysis Aventador.

[aventador] 01/5/2024 07:13

Well it's may 5 months into the year as per usual naff all has happened what a shocker.Here's hoping something happens by summer end of June but I can't see it personally.

[vatnabrekk] 30/4/2024 21:49

I don't see it as a scam mainly because of the number of large shareholders that are filed at Companies House.

[sirianbotham] 30/4/2024 21:21

We're not that far apart. I see either a failed business (not a scam) or a significant event ... which just differ on what form that will take

[htrocka2] 30/4/2024 17:20

Some reading points of interest....In the 2021 we have the following.....


2021 AR
Tunisian Onshore and Offshore Portfolio Interests

'On 7 November 2020, we announced the execution of agreements related to the proposed acquisition of an economic interest of up to 40% in ATOG. The acquisition was to be completed in phases, involving cash payments and the issue of ordinary shares in the Company.
During the financial year, the Company executed revised agreements with Omega Financial Corporation (“Omega”), a founder shareholder of ATOG, and with ATOG itself, related to the acquisition of the proposed interest in ATOG. Under the terms of the revised Agreement and the consideration paid to date, the Company has acquired a 10% equity interest in ATOG through:

 A cash payment of US$500,000, made in November 2020.
 The issue of 164,365,714 ordinary shares at 1.75p per share amounting to US$4.0m which will be subject to
orderly market conditions following the Company’s proposed IPO on AIM. The shares were issued on 28 June 2021'

Whereas...in the 2022 AR.....All we have with respect to the completion of the ATOG purchase is.....


2022 AR
'The Company now wholly owns ATOG and its subsidiaries'... (that's it...that's all we got for acquiring the final 90% of the ATOG)

[bestdeal1] 30/4/2024 16:47

Dear Judge, there is no case to answer, nuff said. see you in chambers for a snifter.

[bestdeal1] 30/4/2024 16:37

Rosso KC

they have wasted money hiring an expensive firm when they could just have got Rosso KC to email the judge.

[dr rosso] 30/4/2024 16:08

The Omega vs Tende court case looks like a re-run of Avobone vs San Leon in 2016 where A provided a loan for jv drilling a Polish O&G asset. San Leon actually lost the case, but the Omega/Tende situation looks a little different. In the legal counsel team for San Leon was Marta Wrobel.

She now appears for MWE to defend against Omega`s monetary claim. It`ll most likely be in relation to a $6m foundation loan for ATOG to commence drilling of the Bir Ben Tartar field in Southern Tunisia. What she should be able to argue successfully is that Omega voluntary agreed to end all ties with ATOG/Tende before there was any oil production revenue ie no liability to repay the $6m as Omega`s agreement to exit, surrendering its 400 shares equity stake, terminated its relationship with ATOG, so breaking the terms of the drilling contract.

[bronislav] 30/4/2024 14:49

Vat ororo A and Ororo B is a lot bigger than a burning well.
Sir ian botham .i see two things .we have all been scammed or its a significant project.

[vatnabrekk] 30/4/2024 13:15

Bron, I was actually talking about the recent picture showing Ororo still on fire!

[ace1976] 30/4/2024 12:26

Risky hopefully very good return definitely no medium ground with this lot

[riskybisky] 30/4/2024 12:15

1. Potential good return
2. Potential very underwhelming return
3. Scam
4. Woeful incompetence

[ace1976] 30/4/2024 12:11

Some days you can look at it as a big return and other days a scam hopefully it’s not the latter

[sirianbotham] 30/4/2024 11:32

The flip to that bron is only seeing what you want to see ... works both waysWe all need an update no matter what it is

[bronislav] 30/4/2024 11:27

Your only seeing what they want you to see Vatnabrekk.
Im assuming you have changed your view that if they havent informed you it must not be true.

[vatnabrekk] 30/4/2024 11:26

Well we recently saw the full picture of Ororo!

[bronislav] 30/4/2024 11:21

All changed once they moved to the gentlemans club bestdeal and we may not see the full picture on Ororo and oml95.

[bestdeal1] 30/4/2024 10:25

Ororo felt very close when they had

Bought the well heads
contracted the support vessels
done sub sea scanning in prep, and...
yes... hired the rig

then diddly squat and back to the back burner and chasing the can down the street.

in all seriousness I really do hope this nightmare ends soon.

[bronislav] 30/4/2024 10:18

We hear talk of 200 andb300 million and billions of bonds and we cant suss out the email...More evidence for me that we are being run by someone else.a vehicle to raise funding and an opportunity to businessmen to collect huge amounts of shares in order to make a killing thats what sirius petroleum was about and tende the name for the new entity..Very close now it feels.

[htrocka2] 30/4/2024 10:08

risky.......that's all we need.....this to drag on and on....

[riskybisky] 30/4/2024 10:01

OR...

"Sir, please explain the time line of the contract"

"Er I'm sorry your honour I don't have that information to hand, er you see the email got broken. However we ARE on the case and are actively looking at alternatives, it'll probably be hotmail or yahoo at some point likely in the near future, in fact your honour possibly imminently."

[htrocka2] 30/4/2024 09:29

I was merely fishing for info....and (probably missed something) however, on the 2 April 2020, Omega are recorded as owning 50% of Atog.......In the 2021 AR, Tende Acquires 10% of Atog for 164m shares plus a few quid,,,,.....a discrepancy?



ref...
ATOG Company House

'03 Nov 2020 Notification of Omega Financial Corporation as a person with significant control on 2 April 2020'