Sirius Petroleum Share Discussion Threads

[vatnabrekk] 13/10/2024 20:01

My thoughts precisely bestdeal!

Are we to believe that ETU and Sonangol, as well the Angolan ministry are all willing to hold up announcing the deal pending the elusive buyer of little Tende revealing their identity?

And besides, what exactly is preventing the mysterious buyer from appearing from behind the curtain? What are they waiting for?

Or perhaps the reason for the delay is something else.

[bestdeal1] 13/10/2024 19:41

So the president of Angola is holding off signing a decree to help Tende keep a deal under wraps? Dont buy it!

[dr rosso] 13/10/2024 18:57

Still spinning out the "waiting for Angola" nonsense. We are waiting only for the backing group to declare its hand, the controlling entity to reveal itself, at which point Angola's 18/31 deal can be announced. The controlling group, be it Brookfield/ EIG, Vanguard/Nov, or an equally large private equity investment fund, will have the option to list Tende as a subsidiary operating with various divisions incl. N. Africa. The string pullers work out of Dubai which is where the Tende crew are based. McMurtrie has been brought in with his m&a experience to smoothe the process through to completion. No worries on Angola, that was sorted many moons ago. Don't forget the commodity trading, associates including Petropolymer and DP World.

[aventador] 13/10/2024 17:12

We need to relist and sell first rocks a miracle in itself CGT is last of our worries

[ace1976] 13/10/2024 14:41

Latest runours are Ht the cgt rises may not be as bad as last suggested upto 39%,would be pretty stupid to just hold a business summit then have highest cgt in Europe

[htrocka2] 13/10/2024 14:29

'Rice Krispies anything will be better than dust and hot air we have currently!!!'



Wrong again Aventador...The Chancellor is to have the Budget on the same day that the AR is hopefully released...The article below is a lot worse than 'kispies' or 'hot air'.....and I'm not looking forward to it.(She, the Chancellor, has recently been ordered by 'her advisors' to raise even more money than was originally forecast.)....it's going to be a blood bath.

[aventador] 13/10/2024 11:19

Gas .. oil .. Rice Krispies anything will be better than dust and hot air we have currently!!!

[htrocka2] 13/10/2024 09:49

O/T


In my opinion, the failure to sell the Gas Caverns was a contributing factor into the downfall of Harland and Wolfe....which begs the question, did they do enough research prior to starting the project?..Ireland already had three Inter-connectors in place from England before they started the Caverns....What happens now?

[bronislav] 12/10/2024 18:42

Now the shipyards at Harland and Wolfe are to be swept up by spanish group Navantia the time is now right for a group to step in and develop the gas storage project.Storage of gas and then hydrogen further down the line...Maybe mr Graham Lyons has a good idea who that group will be.All slotting into place.Ive banged the drum for years that we would somehow be linked to that project and its not too fancifull to believe that the group that is taking us on will be the benefactor of the gas storage project with African gas filling those caverns.

[htrocka2] 12/10/2024 17:05

Trafigura are probably the best people to answer that question...

[stbilow] 11/10/2024 21:25

How has this company continued to exist all this time with no returns what so ever .It doesn’t make sense.

[solarno lopez] 11/10/2024 15:29

elliotset11 Oct '24 - 14:07 - 137478 of 137480
0 5 0
Has anyone written off there investment yet


.............Absolutely Not...........

[htrocka2] 11/10/2024 14:06

CAN I WRITE OFF UNLISTED SHARES

Search Results
Featured snippet from the web
"In my case(s) the Companies have not ceased trading but rather have delisted from the market." In that case, the answer is "no". You would have to effect a disposal to crytalise the loss. As there is no market for the shares, contact the Company Secretary to ask how a sale could be effected.

[twentysixpointtwo] 11/10/2024 13:21

Yes. Mentally did this years ago.Foolish to believe anything will come of this given the track record. Bonus if it does.

[elliotset] 11/10/2024 13:07

Has anyone written off there investment yet

[htrocka2] 11/10/2024 11:10

I thought I'd re-post this lot....as this was originally posted on Dec 6th 2023 therefore could not be included into any of the accounts.....which means that they WILL be included into the latest accounts...So hopefully we can look forward to an update on the following....




'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 Development

The 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 Operations

The 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 Wells

The 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 Management

Tende 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.

Tunisia

In 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 Onshore

The 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 Offshore

The 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.

Angola

Tende 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. (“SonangolR21;), 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 Listing

On 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.

[aventador] 11/10/2024 08:48

Can of spam on repeat order for 15 years get a bonus packet of quavers this year for being such a good repeat customer

[ace1976] 11/10/2024 08:46

Sol you were confident and celebrating last September

[carrbradshaw] 11/10/2024 08:41

Really Sol - why so

[dr rosso] 11/10/2024 08:34

Which christmas would that be, Sol?

[solarno lopez] 11/10/2024 08:27

Thank you Vat and Carr I am at long last feeling a wee bit confident !