Sirius Petroleum Share Discussion Threads

[heliman2] 15/11/2024 22:23

Summary page

[heliman2] 15/11/2024 22:23

Checked back the sundry page today is exactly the same as the 30/10 . All very odd !

[1sonic] 15/11/2024 20:56

Love this share! Will it reveal all this side of Christmas??

🎅

[dr rosso] 15/11/2024 20:55

Well it looks like the $370.5m debt requirement is sorted, whether it be through accruals or bond finance. Seems to me that the Angola 18-31-27 bundle is at last ready tba. Timing may coincide with Cosmos FID. If this comes off, the package of assets is going to be considerable, with possible additions through bond funding. Interesting time coming up.

[dr rosso] 15/11/2024 20:34

Have another read of the October PetroP charge. A new Entity appears on the scene, adding security assets to the original agreement between Tende and Petro. We are not informed who exactly this OBLIGOR is, but ....."The term "obligor" refers to a bond issuer who is contractually bound to make all principal repayments and interest payments on outstanding debt."Well hello hello. Incoming Group has the bond finance sorted, it would appear.Angola funding has reduced to zero if the monthly accruals have been ongoing. Begs the new Q, "what's the bond funding for?"

[vatnabrekk] 15/11/2024 15:00

Bron, I would be inclined to rephrase your comment "something Tende are associated with is of such significance..." to read:

"something ETU are associated with is of such significance..."

because ETU are more likely to be the prominent party in this consortium and the ones talking to the Angolans. They have a relationship with Sonangol, and they are a proper operational oil company. Tende may be the ones arranging the funding (although I'm not sure about that) but they will just be hanging on to ETU's coat tails on this one.

[vatnabrekk] 15/11/2024 14:54

Thanks edgein!

[htrocka2] 15/11/2024 14:24

Pay a 5% deposit, do nothing, go to sleep.....and wake up for the accruals to pour in.....sounds like a fairy story one would tell a child at bedtime.... something only this company could only dream up and dream of. Don't forget the old adage......If it sound too good to be true....then it probably is.(If this is the case then this lot are living in la-la land.....then they finally wake up to the real world and realise.....it was just a dream.)......a bit like trying to claim the maximum prize with an empty lotto ticket....and filling it out after the balls have been called....and paying for the ticket out of the winnings.

They tried that system with Ororo....drill first, well pay later.....it didn't work.

[riskybisky] 15/11/2024 14:04

I thought some had mentioned a Cap on the accruals

[edgein] 15/11/2024 13:51

Vat,

No, it does happen. SQZ bought Erskine from BP and by the time of the closing date, the cashflow from the effective date had accumulated enough to pay for the asset. Had it lasted a few months longer then BP would have owed SQZ for the asset they had sold! Seems odd I guess but does happen. Is it happening in this case, who knows.

Regards,
Ed.

[bestdeal1] 15/11/2024 13:50

IMO the price has not come down, sonangol will recieve the amount that was agreed. the point is that Tende will recover the debt immediately from accruals so reduces the cost to us.

[bronislav] 15/11/2024 13:45

I brought the accruals up ages ago..why would Angola allow such folly.Only answer is something Tende are associated with is of such significance that Angola think its a good deal..sacrifice 300 million for something worth more to them.

[vatnabrekk] 15/11/2024 13:29

Does anyone else think that it is very strange that Sonangol has allowed the original price to be walked down to zero by the accruals? That just doesn't make any commercial sense to me!

[vatnabrekk] 15/11/2024 13:24

Maybe we're not waiting on Angola, maybe it's something else?

[bestdeal1] 15/11/2024 12:21

Quick search on private investigators brigs up numerous options for investigating what is going on under the bonnet of this company. Just need to have the money to hire one!

[dr rosso] 15/11/2024 12:13

As at 25 Nov 2024, 31 months of accruals + $18m deposit means that 18/31/27 cost of $370.5m is now fully paid. 31 x $10.25m pm = $317.5mDeposit = $18mLater production = $35mWhat are we waiting for now?Yahoo Mail: Search, organise, conquerShow trimmed content

[htrocka2] 15/11/2024 10:28

ace....It's important to know the background of those we've entrusted with our money.

[ace1976] 14/11/2024 15:55

HT that’s like someone putting on their CV, I’m always on the sick,lazy and a trouble Maker,these guys were never going to say we area going to milk big salaries and bonus plus ignore shareholders

[htrocka2] 14/11/2024 15:50

'...they don't listen to any of us'


Some people do take note....for instance, if a director has previous 'poor' form...he has to declare it...although Red Leopard Holdings are still afloat, with only £558 in the bank and one of it's directors jumped ship and landed here having been with Red Leopard as a director for seven years....hardly warrants an enthusiastic reception..just another one along for the ride.

[ace1976] 14/11/2024 15:45

Pryde and Bobo are the type of guys who would rob their granny for money,despicable characters

[bronislav] 14/11/2024 15:17

Aventador they dont listen to any of us.The positive about throwing ideas and research on here is that others will discuss and maybe find some sense or reason around this company.
You might as well shout i want my money back down a coal mine because in both scenarios you would be wasting your time.i understand the frustrations 16 years worth for me..

[rpat2] 14/11/2024 14:36

Or you will find out soon via a court case like omega

[htrocka2] 14/11/2024 14:01

'Don’t think PP have written off their $20m yet.'

There is a clause in the charge that stipulates that PP can demand their money back,,,with interest,..at any time...They have not done so , so one must assume that they're happy and all is going to plan.

[astralvision] 14/11/2024 13:42

Dr RRe 'who else is in there'Petropolymer are with their $20m loan, the charge document recently updated to include additional security in favour of Petropolymer. The timing of this change in the charge suggests the Angola assets coming into play. Can't think what else it could be.Don't think PP have written off their $20m yet.