Sirius Petroleum Share Discussion Threads

[dr rosso] 10/7/2024 17:24

There has been a 3-part clearing of charges, with money paid over to Medco Energi.
a) Tende Energy in Feb 2024, charge 0007, wrt taking over ATOG in June 2023
b) ATOG Midco also in Feb 2024, charge 0001

Both administered by Tende`s solicitor, McDermott, Will & Emery LLP

c) ATOG Sahara in April 2024, charge 0005, and up pops Lavinia Jessup as chargor.
ATOG Sahara Accounts also will be made available, prob by Friday.


Anglo Tunisian O&G Accounts for y/e 2022 remain overdue.

[aventador] 10/7/2024 15:39

Spot on pig master as always top work

[heliman2] 10/7/2024 14:57

and me , great wording !

[vatnabrekk] 10/7/2024 14:54

Thanks Pigmonster for drafting an excellent email! I have copied it and sent it to IR@Tendeenergy.

[jenny tulwought] 10/7/2024 14:01

Pigmonster,

Simply brilliant !

[herman_m] 10/7/2024 13:22

ATOG MIDCO stat accounts to 31 Dec 2022 have now been filed at Companies House

[bumhammer] 10/7/2024 13:19

Thanks PigMonster

Sent!

[riskybisky] 10/7/2024 13:13

thanks pigmonster ... sent

[swiz73] 10/7/2024 13:01

Best post I've read on here in a long time, nice one!Will email a copy later this evening.Thank you!

[bronislav] 10/7/2024 12:20

Very good Pigmonster.

[brianbl] 10/7/2024 12:15

Agreed, great post pigmonster1, thank you for that, happy to send it to IR.. if it helps to make them feel a bit harassed and less cosy I'm more than happy to do it.

[rod99] 10/7/2024 11:59

Great Post pigmonster1

[pigmonster1] 10/7/2024 11:22

I don't know about anyone else but the reply we got a couple of weeks ago was in my book, completely unsatisfactory. Whilst the communication was a step in the right direction, it was not enough considering our extreme wait for and end to this saga. We need to press our our case for a better company that treats us in the manner we deserve. We need clarity and communication on a regular basis, not when it suits them and certainly not once or twice a year if we are lucky.

Their arrogance to assume that we will like it and lump it, has to be constantly challenged now. They're seem intent on continuing the Chinese Whispers game forever, as it suits their dubious agenda

The question needs to be answered as to why we have entrusted and $300 million + deal to a 10% partner? Why aren't we in control ? I don't believe for one minute that we have no information or no say in this infinite deal. To me it is the perfect excuse to remain silent for as long as they please.

Let's send another group email and hopefully get our concerns and frustration answered.

Subject: Concerns Regarding Partnership and Transparency

Dear Tende Energy

Thank you for your detailed response to my previous email. I appreciate the transparency regarding the complexities of the transaction process in Angola.

However, I have some concerns that I hope you can address. Specifically, I am curious about the decision to allow Etu, which holds only a 10% stake in the transaction, to lead such a significant multi-billion dollar purchase. This decision seems unusual, especially given the difficulty shareholders face in obtaining information from Etu Energias. This lack of transparency from Etu raises concerns about potential blocking tactics which have been apparent throughout the process. Despite the company's insistence that they will not interfere, I can't for the life of me see why this would be the case if we are the 90% majority partner.

Additionally, it appears that Tende has repeatedly moved the goalposts regarding the relisting on the London Stock Exchange over the past five years. Numerous deals that were expected to finalise and lead to a relist have either disappeared or failed, with little to no explanation provided to shareholders.

The continual failure to relist has become extremely concerning to all shareholders. We would like to see this process move forward instead of enduring this eternal cycle of excuses over the last five years. We are aware that the failure to relist has led to Omega Financial Corp seeking recompense through a recent court action, undoubtedly costing the company. Yet again, we have had to unearth another terrible situation ourselves because the company repeatedly failed in its duties by not informing us of such matters.

In contrast, a comparable company, Afrenta, has been exemplary towards its shareholders during its recent similar purchase to Tende. Afrenta consistently provided regular updates and complete clarity throughout the entire process. Their attitude towards shareholders is beyond reproach. They provide the following on a regular basis:

• Regular Updates: Afrenta consistently provides shareholders with timely and detailed updates about company activities and progress.

• Transparency: They maintain complete clarity throughout their processes, ensuring shareholders are well-informed.

• Shareholder Engagement: Afrenta’s attitude towards its shareholders is highly commendable, fostering trust and confidence.

• Responsiveness: They are proactive in addressing shareholder concerns and queries, demonstrating a commitment to open communication.

These practices have helped Afrenta build a strong, trustworthy relationship with its shareholder

On the other hand, your approach is extremely dubious, leading the majority of uninformed investors to lose all trust in the company. It is fair to say the company refuses to change its underhanded business practices and terrible treatment of shareholders. Such practices are no longer accepted in our society; they are antiquated, untrustworthy, and completely disrespectful to the very people who have backed you financially for years without seeing any return on their investment. Meanwhile, the companies board of directors, and staff have been awarded handsomely without fail for over ten years, while we suffer financially as a consequence. Implementing the following actions could help rebuild trust and improve the relationship between the company and its shareholders:

Enhance Communication:

• Regular Updates: Provide consistent and detailed updates to shareholders about company activities and progress.

• Transparency: Ensure all processes are clear and shareholders are well-informed about significant developments.

• Engage Shareholders:

• Open Dialogue: Foster an environment where shareholders feel comfortable voicing their concerns and queries.

• Responsiveness: Address shareholder concerns promptly and effectively.

• Build Trust:

• Ethical Practices: Commit to ethical business practices and avoid any actions that could be perceived as underhanded.

• Accountability: Hold the board of directors and staff accountable for their actions and decisions.

• Financial Fairness:

• Equitable Rewards: Ensure that financial rewards are distributed fairly, reflecting the contributions of both the company and its shareholders.

• Return on Investment: Work towards providing a tangible return on investment for shareholders.

Given these points, could you please clarify the rationale behind Etu’s leading role in the transaction and provide more information on the status of past and present deals and the relisting process timeline? Transparency in these matters is crucial for maintaining shareholder trust and confidence.

Thank you for your attention to these concerns. I look forward to your response.

Best regards

Sitting back and relaxing is no longer an option. We have been extremely patient with this company. We need answers and solid timelines, not rumours and desperate hope.

[htrocka2] 10/7/2024 11:09

Just thought I'd make a passing comment...


' ...silence, avoidance, non-transparency & chicanery are not acceptable compaany standards..'

In the past, no excuses were given for projects that 'hit-the-fan', Ororo being a case in point, but has any one noticed the new tactics now?...' it's beyond our control'.blah, blah....ie, 'it's nothing to do with us? rhetoric, distancing themselves from failure. In my view, this doesn't elevate them from blame and wonder how the funders, view these dim excuses?.

[aventador] 10/7/2024 11:00

End of the day we want news and updates regularly as to wtf is going on! Ain't much to ask after years of being let down and no relist in sight !

[vatnabrekk] 10/7/2024 08:21

Correct pmac, but the question is how many posters on here are prepared to join together to do anything about it? Several have tried in the past.

[p mac] 10/7/2024 08:14

thats a simplistic view,and a bit harsh. We should all have access to our money, and reasonable, reliable comms from the company.
It may be the case that we do lose our money, but silence, avoidance, non-transparency & chicanery are not acceptable compaany standards.

[htrocka2] 10/7/2024 08:12

Cheers Bron...(One for the BOD)

[heliman2] 10/7/2024 08:00

'I want my money back" sounds like a whiney 5 year old .
Investing is for grown ups , you take a risk.
Put up or shut up !

[bronislav] 10/7/2024 07:27

Great clear and transparent update from Afentra.I hope that Bobo and his team read it and wallow in shame at how Afentras update highlights tendes incompetence and contempt for shareholders.

[elliotset] 10/7/2024 06:59

https://www.192.com/people/search/Any one live nearby want to ask Bobo what the f is going on

[elliotset] 10/7/2024 06:53

https://find-and-update.company-information.service.gov.uk/officers/mjo61ohGwTe1ZkE7oxdw4W2Gr-I/appointments