Sirius Petroleum Share Discussion Threads

[astralvision] 20/12/2024 18:23

We've taken on a $50m loan last monthThe Group secured additional secured loan financing of up to $50m in November 2024. With this funding, the projectionsindicate that the Group would have sufficient cash to cover liabilities as they fall due in the going concern period. Thisincludes fully repaying all loans and creditors that are outstanding at the present time, when they fall due.

[astralvision] 20/12/2024 18:20

Page 17Under 'going concern'Of the $84,871,000 or current loans outstanding at 31 December 2023, $43,180,000 have been eliminated from the Group'sliabilities on the disposal of all of the economic assets and liabilities of ATOG. Repayment of a further $22,334,000 of currentloans are now dependent upon the completion of the Angolan acquisition and will be repaid from proceeds arising from theacquisition.

[astralvision] 20/12/2024 18:17

Tunisia has been sold Agreement for the acquisitionof the 90% shareholding inATOG.Post the year end, a decisionwas made to divest thisholding to a third party.Following a reorganisation the Company decided tode-risk its exposure to this investment and has nowa remaining royalty agreement in place and a resultof this action removed the incumbent debt exposureand a resulting positive effect to the Group'sbalance sheet.Page 22 in the 2023 accounts, now available on the Tende web site

[1alfi] 20/12/2024 17:55

The new FDP reflects the updated field data and sub-surface study undertaken during 2024 and will also include the potential addition of further production facilities infrastructure, which will be capable of handling the incremental hydrocarbon production uplifts from both the planned well intervention activities to date as well as the planned new well programme during 2025-2026.


Whilst several infrastructure improvements have been made during 2024, it is clear to the management team and partners, that although the Abura field has significant recoverable resources, it is reliant on third-party processing infrastructure with production tied into third-party flow station facilities. The Company is therefore assessing economic next steps to improve the processing efficiencies on the field which will also yield improved processing benefits to neighbouring fields slated for development.


We may have been held back in production due to lack of third-party processing infrastructure with production ties into third party flow station facilities.

Good to see them forward looking to increased production.

[1alfi] 20/12/2024 17:45

Plenty of work to be done yet, but as each milestone is reached the value of the company should increase. Maybe even reflected in the JPJ share price.

[1alfi] 20/12/2024 17:42

Not for a while though Sol.

[dr rosso] 20/12/2024 17:15

With incoming Angola revenue and no debt requirement for 18/31, the Co. Is an attractive proposition for full t/o. Basically it is to become a debt-free shell, courtesy of substantial Angola cash and the sale of ATOG, paving the way for jv investment stakes in producing assets held by cashless partners in N and W Africa.

[bronislav] 20/12/2024 16:58

Have you thrown your shares in the mix on helix,s revolt aventador?

[aventador] 20/12/2024 16:55

That's shocking can add all our money in that down the pan

[bronislav] 20/12/2024 16:50

Sale and purchase on Cosmos..It would be a good move for Afentra.Looks like the sale and purchase deal is done but for approval from the Tunisians.just trying to find some positives in a mediocre update.Apart from that I'm hoping for an exit as soon as possible ..like most of us.

[htrocka2] 20/12/2024 16:41

16 years of losses upto....Dec 2021 = $64,599,000....Increased at Dec 2022 to $86,442,000...an increase of $21,843,000.....Now we have 2023 and 2024 losses to add to these numbers...which must take them to well over the $100,000,000 mark.

Says it all really....no need to say any more.(yet they keep paying themselves ridiculously high and the most extravagant salaries on the AIM that warrant no justification.)

[mrjangles31] 20/12/2024 16:21

Every single time there is the slightest whiff of shareholder dissent they will get some temp in for a few hours to cut and paste the same old regurgitated nonsense from prior years into a new comms to quell the dissent. Every single time.......just like clockwork.

[dr rosso] 20/12/2024 15:42

Crying out for a mid-tier O&G producer (eg Kosmos) or O&G services supplier (eg NOV) or O&G Trader (eg Trafigura) to move in and conduct ops efficiently and let their own Management team run this show successfully as their subsidiary.

[htrocka2] 20/12/2024 15:32

Nice post Dr....I wonder how they'll dress that lot up to make it smell like a bed of roses.?....Not exactly what we wanted to hear...but the truth is refreshing.

[1alfi] 20/12/2024 13:26

"OML contact out there" -- lol

[aventador] 20/12/2024 13:20

We should be updated monthly in the new year until we are relisted, even if it’s just to say they are still in business and progressing (v slowly).

[vatnabrekk] 20/12/2024 13:09

No explanation as to why production at Abura has dropped from 15,000 barrels /day to 10,040. That is absolutely disgraceful and definitely needs an explanation. They need to be grilled on that at the AGM, if they ever come with an AGM.

[dewiparry79] 20/12/2024 13:03

It's an update at least. Positive taken is that things are progressing (slowly). But it's a pathetic level of detail when you consider it's the only update we've had all year. Let's hope the AR will follow swiftly.

[1alfi] 20/12/2024 12:51

Reading between the lines good update in my view.

No relist and no sell off.

[ace1976] 20/12/2024 12:43

The board may as well give themselves Christmas bonuses for all the hard work they have been doing

[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....