Sirius Petroleum Share Discussion Threads

[rpat2] 04/12/2024 19:48

Best, you have said this previously! Organise it ? Let's see how much posters are actually up for your suggestion! 14 ticks so I assume 14 people to end up at a doorstep ! You have my vote

[aventador] 04/12/2024 15:18

Borderline criminal this company

[chuffy1972] 04/12/2024 12:30

It's seems that's the case Dr. I've said it for a while. Funding for others, naff all for us. That's how their inflated salaries get paid. What a disgrace.

[dr rosso] 04/12/2024 11:18

Shocka from the Rocka.

Just keep shoving out fake promises year after year after year. ROR £0.

[aventador] 04/12/2024 10:07

A great post finally rocka.

[vatnabrekk] 04/12/2024 09:48

Did you forget about the revenue from OML 65?

[vatnabrekk] 04/12/2024 09:02

Very true!

[stbilow] 04/12/2024 08:23

The only cold comfort is that theystill exist!

[bestdeal1] 03/12/2024 20:52

Only option is some form of direct action.. turn Up on some doorsteps and demand answers

[aventador] 03/12/2024 19:15

It's actually boring even complaining about it now I think next year I'll just delete this app and wait for an email complete waste of energy this whole firm. Best forget about it write it off mentally.

[dr rosso] 03/12/2024 16:53

3 years now working out of Dubai and not a single word of explanation as to what is going on out there. Quarter of a million dollars claimed in living expenses alone for 2022. Abs disgrace the lack of communication with smaller shareholders. Polymers trading should be well under way by now so let's be hearing it. Unless this is the latest venture they've managed to fuk up.

[dr rosso] 03/12/2024 14:04

Beyond embarrassment.

[sirianbotham] 03/12/2024 13:58

'Waiting for Angola' More like waiting for Godot.

[htrocka2] 03/12/2024 13:14

Some companies show concern for their shareholders and issue reasons for the delays...


HTPPS://www.londonstockexchange.com/news-article/ADME/further-re-delay-to-the-2023-accounts-publication/16793579

[sirianbotham] 03/12/2024 12:49

I suppose the extensions will reduce the fine if and when they publish the accounts

[sirianbotham] 03/12/2024 12:49

One wonders why they bothered with the extensions. Fines for public companies 1-3 months late is only £1500 over 6 months is £7500So they'll now be fined £1500 if they are submitted before end of January. Companies house can issue a compulsory strike off notice if they don't receive any accounts or confirmation statement but it doesn't say after how long?

[sirianbotham] 03/12/2024 12:40

Possible but I'm sure that's not a valid excuse for delay on accounts .. This really is becoming embarrassing... just about every month there's another whisper it's close / next week etc and then nothing.

[dr rosso] 03/12/2024 11:44

Cosmos Tunisia development planning proving to be sticky, with ENI not playing ball about sharing its processing facilities at Tazerka stations offshore and onshore, with a further issue of high carbon content emissions from the oil. Stakeholder has apparently withdrawn his proposed $3m. McMurtrie will surely be exploring farm-out opps to bring in a mid-tier outfit for this potentially prolific and lucrative offshore field, maybe even share adjacent undeveloped Birsa 22mmb field acquisition too.

Elsewhere, in the south of the country, developments are ongoing at 100%-owned Bir Ben Tartar with new drills taking production over 1k bopd. Rumoured that the small stakes in Adam and Borj El Khadra have been sold back to ENI. AR report clearly states that, whilst ATOG Midco is an OK going concern up to July 2025, the whole Tunisia situation is unsustainable without Cosmos where FID, expected in Q4, is still awaited. Friend out there is still waiting for interview for one of the Manager jobs.

ARs for Atog Midco Holdings Ltd, Anglo Tunisian Oil & Gas Ltd, ATOG Sahara Ltd due out by 31 Dec. Possible that the consolidated AR of the ultimate parent ie Tende Energy PLC is delayed in order for all 4 to be released simult.

[dr rosso] 03/12/2024 11:38

Tunde Farotimi
Senior Reservoir Engineer

Lead Petroleum Engineer Sep 2019 to Apr 2024
• Co-Led a team of engineers and geoscientists to provide data democratisation services and production enhancement reviews for OML 28, OML 65, OML 111, OML 42, OML 40, OML 11 and OML 119.
o Built a total of 30+ reservoir models for OML 28 (Uzere East), OML 65 (Abura Field), OML 111 (Oredo Field), OML 42 (Batan and Ajuju), OML 40 (Opuama), and OML 11 (Yorla, Ajokpori, Ebubu, Onne and Akuba fields).
o CO-Led the team to carry out integrated asset reviews and validated the identified opportunities for WSO and reperforation, gaslift optimisation, bean-up, etc., with models. Uncovered over 25,000 oil gains and 75+ MMscf/d NAG gains from 5 fields

• Supported artificial lift (ESP) design and modeling of OML 65 (Abura-06ST2), a side-track well targeting the AB series heavy oil sands. Provided the technical team with start-off rate for the well as a plugin for other technical and economic analysis.

Ongoing progress with the OML 65 Abura Development Plan, and we know that the block is funded to the tune of $200m + $661m. Ops are conducted by the COPDC/NEPL teams, with Tende doing little more than providing appropriate tranches of the finance.

Abura production should be over 16k bopd by now, with COPDC receiving a share of the baseline 10k bopd revenue + a higher payment for the 6k+ incremental. Clarification required but likely that COPDC is receiving $10pb + $20pb respectively, which works out as $220k per day = $6.6m pm. Increasing as further wells come onstream, and all production costs are recoverable.

[htrocka2] 03/12/2024 10:35

Comment...

Companies House accounts guidance
Updated 1 October 2024

5.4 Applying for extra time to file your company’s accounts

'You can apply to extend your filing deadline if an unplanned event stops you from filing your accounts.'


So what is/was....'the unplanned event' that allowed them to extend the deadline?