Sirius Petroleum Share Discussion Threads

[htrocka2] 09/5/2024 09:43

Dr...A question for you....What's our connection, if any, to Mazarine Energy.?

from the dec 6th statement...
'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..''

[dr rosso] 08/5/2024 22:08

Management moves indicate some kind of corporate restructuring going on. Looks like a split into 4 distinct operational subsidiaries:-

Tende Energy Angola Ltd
Tende Energy Nigeria Ltd
Tende Energy North Africa (replacing ATOG and expanding regionally)
Tende Energy Limited Dubai


Make no mistake, Angola is done.

The issue we have is that the Company is not in control of events, nor in control of announcements. Hence we are left to pick up snippets that we come across on third-party sites.

[ace1976] 08/5/2024 20:00

Know what you mean rpat my expectations have dropped as well

[rpat2] 08/5/2024 19:42

Ace tbh I would take it now to be rid of this stress

[ace1976] 08/5/2024 19:31

Will be well happy with 3.5 p after 16yrs 🤣🤣

[riskybisky] 08/5/2024 17:49

I guess think why bother. Why tell the pi shareholders?
What's to be gained by telling them?

Just cos they paid their hard earned money into buying shares thus supporting the fund raises indirectly or directly, just cos they supported and facilitated with their cash the opportunity we as directors have been given to take very high monetary rewards. Just cos. Just cos...
Why bother, theres no benefit to us, we still got good good money coming in 🤔🤔🤔

[dr rosso] 08/5/2024 16:06

Company never even bothered to announce his appointment, never mind welcome him.

[bestdeal1] 08/5/2024 15:04

thats true. Salary first, anything else is a bonus

[ace1976] 08/5/2024 15:03

Hope this guy is not part of xerot 5 yr plan,will be 2 decades then

[shez20] 08/5/2024 14:57

He probably realises it's an easy job as no one will expect updates or communication as they did in his previous role! Only thing he will have to make sure he is on time for is the pool parties in Dubai

[bestdeal1] 08/5/2024 14:47

"Whatever, Mr Geddes must know something that we don`t in order to opt to miss out on the growth ambitions of progressive production outfit Savannah. "

why, maybe he has been taken in too.

"hey, come join us, we will be relisting in XXXX, you will be minted"

DOH!

[ace1976] 08/5/2024 14:18

Where is the news for this week,or is it another failed prediction

[bronislav] 08/5/2024 13:07

Aventador about 4.5 years.

[aventador] 08/5/2024 12:41

When are we ever gonna see our money back ,whether sale or relist I want my cash back.. I need it back how much longer is this debacle gonna drag on for????

[bronislav] 08/5/2024 12:33

Well hendo only has to wsit till august september st the earliest but we need to relax because we are now of the time.hmmm.

[bumhammer] 08/5/2024 10:48

Not sure where you've got 10p from.
We were told 3.5p,Hendo's calculation.

Can you explain how you come to 10p, that's WAY over valued.

[astralvision] 08/5/2024 09:29

Don't know, but he has got 60m options @0.5p.List at a touch over 10p and that would be a handy £6m. Not too shabby.

[htrocka2] 08/5/2024 08:55

Forgive me for the lack of research, but does 'hendo' own any shares in this company?

[dr rosso] 08/5/2024 07:21

Angola completion announcement is being kept on hold while one or two things elsewhere slot into place. Geddes taking the reins as Corporate Finance Manager is one, with Hendo vacating the position late April. Every extra month wipes a further $10m off the 18/31 debt finance req, now down from $317m to $77m following 24 months of accruals. Enough is enough, I say.

[astralvision] 08/5/2024 00:20

Dr R

Re my comments in your post:

Re Angola by June, my assumption-hope it holds!
Re Abura & Cosmos, what they said at the agm although, as ever with this lot, everything takes xxxx times longer than what they say.
Re 6p, was told that was what a director reckoned when quizzed post agm on Hendo’s 3.5p. On what we know imo it seems about right. Obviously the June listing is another one in the long line of failed deadlines. Tbf it was fairly obvious to me at the agm that the chances of them meeting that were very slim. Doubtless H2 will be pencilled in in the next update, close Angola and we might have a chance of meeting that.
I still hope they’ve got a few good surprises for us when they eventually show their hand.
2 years plus for one acquisition? It’s stretching things to say the least.
Let’s hope this new chap Sam Geddes has got plenty of work to get stuck into.

[dr rosso] 07/5/2024 22:31

Sherl0ck - 26 Dec 2019 - 100100
Some recent take-aways from AGM/presentation:

- To replace falling reserves, IOCs will increasingly acquire mid-sized companies with production >20kbpd and 100mmbbls. 1st time BoD have stated our goal is to build & sell
- Majors are divesting assets in Nigeria with 4k to 10k bopd. We are actively looking at one right now
- Very few West/North Africa focused mid-cap companies. Possible clue to our pan-African ambition as AFC already has a project in N.Africa

- OML 109 structure has changed significantly and improved. We now own 100% of Tetrarch instead of 30%. This means a 50% working interest in the block and we`ll raise $45.5m debt instead of $40m.
- Debt investor to provide a non-binding letter of support to Sirius in relation to further opportunities
- In due course we can move to the main market
- Project 2: 60x entities applied and we were one of 19 invited into the data room, then one of 10 shortlisted. These have been assessed and ranked
- Smaller projects are now harder to fund. Our Strategic investor wants scale

Sherl0ck - 02 Oct 2023 - 12998
Any additional assets would be in the very earliest of stages. I'd wager that a key strategic investor in Dubai (and most likely recipient of the 164m shares) disagrees.


Our mystery STRATEGIC INVESTOR seems to be running the show, dictating the funding. The puppets dance to the tune. 5-year plan wef mid-2019 to build and sell. That takes us to June.


astralvision - 19 Dec 2023 - 132018
When are we listing and valuation at listing?
By June we should have completed on Angola, be set to go on the Cosmos development, a well drilled in Abura with two further near term wells planned. The listing price in June is expected to be around the 6p level and priced to go.