Sirius Petroleum Share Discussion Threads

[htrocka2] 20/12/2024 12:42

FlashF2....' Was warned at the last agm nothing on the cards for a long time...'

That sounds like a straight piece of honesty....

[flash f2] 20/12/2024 12:13

Was warned at the last agm nothing on the cards for a long time but that was laughed at. I guess we can see who was right after one year of absolutely nothing.

[dr rosso] 20/12/2024 11:22

Sop rushed out to appease the revolting masses. Unfortunately it cannot disguise the painfully slow, almost backwards, "progress" in all 3 jurisdictions where they operate.

Nigeria production reduced by the 15k supposedly nailed on for end 2023 down to 10k by end 2024. Tende and BH are not involved other than each having a representative to offer recommendations to ops.

Tunisia a miserly miserable onshore 400 boepd, whilst covering up significant issues at Cosmos which hold back any real sign of development. Now to be flogged off. Hope is maintained for Angola, without explaining what exactly has caused an extraordinarily prolonged delay in taking the stakes in 18 and 31. No ref to the all-important accruals which knock off a significant portion of the debt req, if not all.

Happy clappies at the next agm are going to have some difficulty with digestion if this update is repeated. Not a single mention of Dubai where the real action is taking place. Nothing on commercial trading of refined product.

These hapless chumps need to be ousted asap by any incoming group. Get true O&G professionals in to bring out the potential within each of the assets, and get commodity trading underway. Another outrageous $2m pa going out in remuneration is no way justified by this apology of a performance update which tries to blind with technical data which is unconvincing at best. The Co. is going backwards, worth no more than 1p on JPJ based on this info.

At least we've been spared the "fully intend to relist" garbage which could've been churned out for the sixth consecutive year.

[helix_22] 20/12/2024 11:18

production on OML65 has dropped? What is the baseline production above which we generate revenue?

[ace1976] 20/12/2024 10:49

Sol what is soon to you as it’s been soon forever now,the update seems to be like every other update

[htrocka2] 20/12/2024 10:43

It seems I live in a different universe to posters on this thread...

The 'rhetoric)they use (let's not call it deception)to blind investors is unbelievable... They've yet to start Phase 1 on a field that is currently producing 15k bopd which happens to be operated by Baker Hughes... posters are fixated on this 15k number that has nothing to do with COPDC.

The last piece of info I had on the OML project was that it is being managed by two parties, ie, Man Com, with eight members and JPMT the also has eight members with $75m already sunk into the project....now three years down the line and as yet, no return....(this is Nigeria after all.)


They used the same strategy with the Angola deal.....by associating producing Blocks with the intended investments....but the true requirements are for new investments on the same block...that have yet to be approved.

It's not rocket science....ask yourself, why would anyone sell a field that's already up and running?





'What are the other key development projects that Azule Energy is working on?
There are three different reservoirs in Block 31 that we are planning to develop. The plan is to develop them with a dedicated FPSO that is relatively small in size to match the size of the reservoir. We are working hard to optimise this block because cost is critical here. An FID is expected at the end of 2024'

The FID required on the above development is dependant on oil being $75 or above (as stated on the website)....with the price currently at about $72....it looks like a non starter.

[aventador] 20/12/2024 10:38

Maybe no mention of relist as it is gonna be sold off we can only hope and it is for 10p plus

[aventador] 20/12/2024 10:25

I'll be happy when the money is back in my account mate here's hoping it is in 2025 but won't count on it judging by every years miserable failure thus far.

[solarno lopez] 20/12/2024 10:15

Aventador be happy or at least you soon will be !

[vatnabrekk] 20/12/2024 09:39

Bron: "Mystery for me is who is paying for the wages and offices."
What we still don't know is how much cashflow are we getting from OML65. Perhaps we'll find out when/if thy issue the Accounts!

[vatnabrekk] 20/12/2024 09:34

Something isn't quite right with the OML65 production figures that we have been given. In their email circular dated 6 December 2023 we were told that current production was 13,000 barrels /day and that they expected to increase that by a further 1,000 - 1,500 by the end of the year. Now are being told that production from th Abura field in November 2024 was 10,040 barrel /day.

That would imply that production at Abura has dropped by about 30% during 2024.

[vatnabrekk] 20/12/2024 09:07

And how often were we told that Tende had been kicked off the operations?

[bronislav] 20/12/2024 09:07

Agree Janejem .Mystery for me is who is paying for the wages and offices.

[vatnabrekk] 20/12/2024 09:05

I see that Baker Hughes are still managing the operations at Abura, despite rumours on this BB of their demise!

[rpat2] 20/12/2024 09:03

Happy with what !

[vatnabrekk] 20/12/2024 09:03

Absolutely jane!!

[janejem] 20/12/2024 08:58

Or it’s simply not there Bron. I doubt whether Hough and McMurtie are bothered about being associated with the disinformation machine that is our BoD and their side kick broker. They’ll disappear along with the imminent relist, the take over after due diligence, the merge with AET and any other end game that’s ‘so sensitive though I’ll tell you’. It would be laughable if it wasn’t such a dishonest and reprehensible way for so called professionals to act.

[carrbradshaw] 20/12/2024 08:53

Same old same bloody old - FFS just give us some hope that this will relist soon

[vatnabrekk] 20/12/2024 08:50

"This is a substantial acquisition for the Company which, due to the confidential nature of the process, has meant we are limited to what can be said prior to its completion. OML"

That is no excuse for holding back on updates on current operations on OML65 for all this time. So in my view we need to continue to proceed with organising our "group" of shareholders to give us leverage in communicating with the BoD.

[bronislav] 20/12/2024 08:48

Hmmm looking at the progress in 2024 or lack of it one wonders what we are bringing to the table in Angola and no mention of Dubai.No rhetorical relist statement is food for thought.Mcmurtie and Hough point to where this is ending.why would these talented people get involved with a company that based on today's update seem average at best.All is hidden in my view.also based on that update there doesn't seem an obvious reason for the nonsense surrounding the AR.

[aventador] 20/12/2024 08:47

No it's more jam tomorrow and my money isn't back in my bank account for the 15th year running so no I'm not happy.

[oliversanvil] 20/12/2024 08:47

STOP SPAMMING!