Sirius Petroleum Share Discussion Threads

[vatnabrekk] 14/11/2024 13:11

That's all very well Doc, and I understand exactly what you are saying. Trouble is, something doesn't stack up. Actually, nothing stacks up!

If they have all the cash available to them that they need, and if OML65 and Tunisia continue to operate and pull in revenue, why did they need to ask for an extension to their accounts deadline, twice! And why are they now in default? Waiting for Angola? Like waiting for Godot?

Even if they are actually waiting for Angola, that is not a valid reason to hold back the accounts for 2023. And even if they are waiting for a buy-out to take place, that is not a valid reason to hold back the 2023 accounts either.

And bear in mind that they MUST HAVE HAD a valid reason before the extension was granted.

So as I say, none of this stacks up. Something weird is going on.

[dr rosso] 14/11/2024 12:32

How is this not a write-off? A bunch of novice imbeciles achieving virtually fuk all over 16 years. And yet , astoundingly, it remains afloat. The answer must lie in the backers, in the Etu consortium. We know that Trafigura has provided tens of millions in support of Tende's projects. Who else is in there, + keeping BoD sweet with annual salaries, expenses and bonuses? $3m input from an existing strategic investor for Cosmos. Bet he knows considerably more than us.

[oza1000] 14/11/2024 11:19

can somebody tell TENDE Energy Group to hurry up, and take a leaf from LLOYDS Banking Group? or go get those £2 billion from LLOYDS Bank who "shredded some of their excess cash" aka buyback?


LLOYDS BANKING GROUP COMPLETES £2 BILLION SHARE BUYBACK PROGRAMME
Following the purchase of ordinary shares on 13 November 2024, Lloyds Banking Group plc (the "Company") announces that the Company's share buyback programme announced on 23 February 2024 was completed in accordance with its terms. The programme was managed by Morgan Stanley & Co. International plc. In aggregate between 23 February 2024 and 13 November 2024, the Company repurchased 3,686,477,708 ordinary shares for an aggregate consideration of £2.0bn.

[bronislav] 14/11/2024 11:14

They arent listening to you aventador.

[aventador] 14/11/2024 10:15

Who said I have written it off ? I am entitled to vent my anger at this company and will do so until I get my money back.

[htrocka2] 14/11/2024 09:50

If all the deals came together....you never know?

[riskybisky] 14/11/2024 09:47

Despite that some post their thoughts as facts, I don't think any of us know for sure how this will play out.

So a holder may think this has a roughly 10% chance of this returning absolutely zilch and another may think it's very likely. Both may still read and contribute to this bb.

I see over and over the tendancy for the glass half full brigade to imagine up nice reasons for the bod's silence. But we've been hearing this for years and years... but nothing ever comes of it.

[bronislav] 14/11/2024 08:11

Aventador.if i had written this off i genuinly wouldnt post again.What would be the point.Clearly you have written this off yet you still post every day .Strange.

[bronislav] 14/11/2024 08:04

Vat.it doesnt matter because we dont know the reason and we wont find out in my view.Given they have been guarded about updating us in particular since the last AGM i doubt we will find anything out in regard to operations.The omega settlement and new charge details from petropolymer all point to something concluding and the company have clearly decided that updates are not necessary for shareholders and as such i doubt we will get to know anything other than the reason this company exists.

[aventador] 14/11/2024 07:59

Close to an event yeah Xmas with sod all of our money back yet again!!

[vatnabrekk] 14/11/2024 07:55

Bron we don't know if they asked for another extension, or if it was refused. Maybe Companies House have lost patience with them. It all depends on the reason they have given for requesting the extensions.

[bronislav] 14/11/2024 07:29

I agree SIB. .i think they are delayed for another reason.its fair to assume the company were reasonably confident that everything would be in place for the end of october release and the fact they havent requested another extension could suggest we are close to an event.

[sirianbotham] 14/11/2024 07:23

Don't disagree worth that bron. All im saying is if they've had the accounts audited the auditor won't allow them to delay publication if they disagree with their conclusion. They simply won't put their name to the accounts. Do I don't think it's being delayed for that reason..

[bronislav] 14/11/2024 07:16

Sir ian botham.re results.it doesnt matterbwhat they can or cant do.They have already done it.The results are late outside of the agreed timeframe agreed by Tende and company house..What will be the punishment? A small fine.I suspect Tende wont be overly concerned.

[vatnabrekk] 13/11/2024 23:05

SIB / HT: Strictly speaking, no, when the filing deadline is reached you should file the accounts containing the auditor's qualifications if there are any. But of course the financial penalty for holding back the accounts beyond the deadline is minuscule, and Sirius has done this in the past.

Companies House can order a company to be dissolved if it fails to meet certain statutory obligations, such as filing accounts, but I think that would have to drag on for quite a long time before Companies House would take that sort of action.

Of course we (shareholders) don't want our company to be dissolved, we just want our money back!

[htrocka2] 13/11/2024 22:37

'Can you delay accounts to address an auditors concern …'

The law only allows a maximum filing period of 12 months.

[sirianbotham] 13/11/2024 21:49

Can you delay accounts to address an auditors concern ...

[elliotset] 13/11/2024 21:33

Why would they ever relist , when they are drawing big salaries and are not accountable to anyone . They have no intention of relisting , and taken us all for mugs . Keep kicking the can down the road , thinking mugs will fall for it again .

[rpat2] 13/11/2024 19:25

Forgot to add! While we and our families are out of pocket !

[htrocka2] 13/11/2024 16:36

The Y/E 2021 Results were not signed off until 23 Dec 2022....and released in May 2023.
The Y/E 2022 Results claim cashflow unto Dec 2024...(a couple of weeks time)....With salaries of £1.9m between them....maybe this needs to be addressed. (that's an awful lot of money for a 'tuppny-'appeny' outfit with very little progress)

[vatnabrekk] 13/11/2024 12:18

Definitely looks a bit like that astral. I'm sure that there is a "going concern" issue involved here, which would explain their inability to issue the accounts at the moment.

Of course they could always issue the accounts with an auditor's "going concern" qualification within them, but that would damage their credibility and reputation, and they certainly wouldn't want that!!

[aventador] 13/11/2024 11:30

Something must be happening as to what who knows won't be anything this year that's for nearly certain now! Another year of being shafted as expected predicted by most.

[rpat2] 13/11/2024 11:08

Anyone remember the call with the Bod a few years back ?Bobo was asked about the name change ref speculation of Sirius P changing name to Tende E,This was category denied in the call and a few weeks later announced! Says it's all really