Sirius Petroleum Share Discussion Threads

[htrocka2] 28/12/2024 11:03

I'm going to watch 'The Greatest Story ever told'.....just to see if TENDE directors are in the cast..

[htrocka2] 27/12/2024 18:09

No disrespect Dr...but I hope that Namibia story is B/S.....otherwise we'll be strung along on another wild goose chase.



'But wait. Capt Bobo has identified a 50 mbl undeveloped prospect in Namibia which he expects to be onstream within 12, make that 18 months, producing 15k bopd to Tende...'





I wonder if this is us?
' We are working hard to optimise this block because cost is critical here. An FID is expected at the end of 2024.'

[vatnabrekk] 27/12/2024 17:12

"The FCA's mission is to protect consumers from harm caused by the financial services industry."

Nothing about protecting shareholders!

[aventador] 27/12/2024 15:41

Yep been strung along for years promising relist and oil never seen any of it! Just promises of deals dilutions to pay there over inflated salaries while our money has gone down the pan! Should have listened to granite tim when we had the chance he called it right, sadly at that point it was plummeting to zero and we had to hope the rampers where right! But they were duped like all of us. What's gonna change in 2025?! If Angola doesn't happen like all the other disasters this is game over! Maybe for the best in some way put us out of misery stop prolonging the hope we could see anythin back on here!!!

[htrocka2] 27/12/2024 15:13

from the AR
'Abura Well 4L Job was completed and SCSSV was re-installed and handed over to NEPL Production team and is now flowing to OML 34 Processing Facility'

That's all we're told about 4L............Would it not be nice to know how much oil was flowing?.

[vatnabrekk] 27/12/2024 11:53

I wasn't going to ask about Angola HT, because I know they can't discuss that.

I was thinking about OML65 where there is plenty that they should be explaining to us.

See my email in my post 138700.

[dr rosso] 27/12/2024 11:39

Not a single new well drilled in 16 years. It's not that there's no oil, there's NEVER any oil. The money comes in from loans or share issues, out of wich these crooks pay themselves $2m+ per year. For delivering nothing other than hot air. One supposedly transformational deal after another. What's next up on the thieves' list of fairy tales? Ah yes, 10k bopd from Angola. How are they going to make this one disappear?

[htrocka2] 27/12/2024 10:17

vat.....as astra stated....there's no point....they'll just fob you off with BS.

from the 2021 AR..
'Sirius is excited by the significant potential for long-term value creation within the ATOG portfolio.'


With respect to their passed record, the strong possibility exists, especially with the amount of money they're paying themselves, that the OML operation could go the same way as Ororo and Tunisia.....implying that Tende are employed by and for the funders...not the shareholders.(they know where their bread is buttered)


Do you think that they're going to tell you what the 'hold-up' with the Angola deal is....obviously not....so it's a waste f time asking.

[vatnabrekk] 27/12/2024 09:59

HT, have you sent an email to them yet asking questions?

[htrocka2] 27/12/2024 09:43

Dr...ref your post....Yes. it's a bit of a worry. Money pumped into Ororo ended up being written off, Tunisia being sold to reduce debts....the 'Non controlled' COPDC Abura operation currently $17m down the pan...yet extravagant salaries and bonuses still being paid...I'm slowly coming round to believe this is a clever, yet legal, scam.

[vatnabrekk] 27/12/2024 08:46

Take a look at posts on here from Helix.

Also my post 138700.

[deepfreestone] 27/12/2024 08:22

If it is the case that we are dealing with crooks / thieves.

Can anything be done to stop them?

Or can they just continue.

Because they only communicate when they wish and just pay themselves and even their families out of other people's money.🤑297;

[dr rosso] 27/12/2024 00:03

Go back 6 years and its the same old. End-2018 AR shows remuneration package of $2.56m, paid for out of share issues. No income to speak of. Lots of promises, then refused to take the Adriatic rig when it became available for Ororo in Nov. Zero oil produced.

One year earlier...
Blatant rinse and repeat scam. These spongers need to be removed asap.dt


To:
[e-mail]

Kindly indicate revenues received by Tende/COPDC for the years 2022, 2023, 2024 in respect of your de facto operatorship of OML 65 and its operations.
Regards

[htrocka2] 26/12/2024 22:21

That answers that question......If they're referred to as 'porkies'...we won't get them...Welcome to another year of silence and conspiracy theories.

[astralvision] 26/12/2024 19:04

Not much point updating us if they're going to tell a load of porkies!

[htrocka2] 26/12/2024 13:39

One point I'd like the bod to institute with the AGM Resolutions....is a regular Quarterly Update.. (let's face it...it's not as if they haven't got the time.)

[aventador] 26/12/2024 11:59

Hope you enjoyed your spam dinners shouldn't of wasted your time or energy posting on here Xmas day ! This lot ain't worth it anymore it's a sham a shambles a con job always has been. Huge dilution and more to come to keep there salaries afloat.

[htrocka2] 26/12/2024 10:58

The whole project is like a'smoke and mirrors' operation. . The impression I get is that Tende are responsible, agents, for the Trafigura funding..They buy their way into the OML65 Project by agreeing to supply 100% of the funding in exchange for 30% of the project....which implies that the 70% of COPDC are to get a 'free ride'. They further indicate that cash-flow will be 'immediate' from existing field operations.....that have currently accumulated losses by partners of $17,124,000...(As of Dec 2023)...



'Sirius has now acquired a 30 per cent interest in COPDC and will immediately begin to accumulate cash flow entitlements related to the assumption of operational responsibility for existing production at the Abura field.'






'Although only 30% of the shareholding is owned by Tende, the Group has control over the Company as it has control over the decision making process through its right to appoint directors. Therefore, the financial statements for CPD Development Company Ltd, and its subsidiaries, are consolidated in full, and 70% of the profits or losses are classified as a non-controlling interest.



from the AR
Non-controlling interest share of losses

At 31 December 2023 ($17,124,000)

[vatnabrekk] 26/12/2024 10:24

bestdeal, in my opinion there's no point reporting anything to the FCA, I don't think they are interested in supporting a bunch of shareholders.

I really think our best option is through the group that helix is putting together.

[vatnabrekk] 26/12/2024 10:06

Or was it just plain incompetence, with no real understanding of what was going on with the operations? I think that is very hard to believe.

For me, this is the incriminating paragraph in their circular of 6th December 2013:

"Current production at Abura is now running at c.13,000 bopd as a result of the optimisation of production facilities and infrastructure. Further workovers are programmed to be undertaken during the early part of 2024 to add additional incremental production."

This is giving a very clear indication that the consortium has contributed to the increase in production, and there is no suggestion whatsoever that the consortium will not benefit financially from this production. Was production at Abura really running at 13,000 bopd at that time? And if so were our directors aware that we were not going to receive any revenue from that? Had the consortium forfeited revenue for some reason? If so, why did they not say so?

It seems absolutely clear to me that they deliberately misled us, and if that's not the case then the onus is on them to prove otherwise.

Perhaps they believed that they don't need to bother explaining anything to us because we don't have the capability to do anything about it. We really have to show them otherwise.