Sirius Petroleum Share Discussion Threads

[lanaland1] 31/12/2024 14:04

Hi all apologies asking a totally unrelated question
But when people have bought or sold shares. On JP Jenkins which broker have they used which they would recommend
Thanks in advance

[vatnabrekk] 31/12/2024 13:15

You and I will probably receive our replies about the same time. 😄

[dr rosso] 31/12/2024 12:55

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How gratifying to see communication skills to the fore. So last Monday I sent a msg + an email querying the artificial c13000 production figure from Abura as at Dec 2023.

HEADQUARTERS
4 Edo Osagie Off Golf Course Road, Benin City, Edo State, Nigeria
[phone] | [phone]
[e-mail] | www.copdc-ng.com

[htrocka2] 31/12/2024 12:55

I wonder if we'll be this lucky?

[htrocka2] 31/12/2024 10:01

O/T

Welcome to 2025...





'He told The Telegraph: “Simple maths suggests that an illiquid market will require too much of an issuance discount for even a run-of-the-mill IPO.'

[ace1976] 31/12/2024 09:01

These guys never fail to disappoint with never ending failed deadlines while they keep living off huge salaries

[aventador] 31/12/2024 07:32

Well it was another dud of a year no shock there.
Happy new year here’s hoping we get some end game here be it good or bad, can’t get much worse. Gla

[vatnabrekk] 30/12/2024 19:08

I reckon it has always been their intention to file all of the accounts at the same time on 31st December.
We'll see if I was right tomorrow!

[dr rosso] 30/12/2024 17:47

I'm inclined to agree
Glimmer of hope crushed
Zero entitlement as no. of barrels did not surpass base threshold
Back to "incompetent bunch of scoundrels" mode

Accounts still not showing at Companies House despite having been signed off and made publically available 10 days ago.

[vatnabrekk] 30/12/2024 17:20

Doc, As I explained in an earlier post, revenue does not have to wait for payment to be received before being shown in the accounts. Quite the opposite, any accrued entitlement for production would have to be shown in the accounts for the period that it was earned, whether the oil was "lifted" to tankers or not, and whether it had been sold/paid for or not.

The only explanation I can think of for zero revenue in the 2023 accounts is that zero entitlement was earned in 2023.

I believe this is one of the most critical questions that needs to be put to the BoD. I have already asked this in an email to them, and I have also passed it to Helix for inclusion in his list of questions from the Group.

[bronislav] 30/12/2024 15:13

They could still have agreed an interest going forward Drosso.A small percentage of barrels or more likely revenues.
Maybe they will reduce their exposure to Nigeria next
Followed by A signed off Angola.
Each risking having a deal to market products.
All developed by someone else and dubai marketing it all or a percentage.
Bank of newyork will somehow benefit and hopefully so will we .no guarantee though.

When we picked up atog it was allegedly because trafigura had suggested it..Maybe it was set up all along for a customer.larson.
It could all have been custom designed and set up for someone else with a third of it gone already (atog)

[dr rosso] 30/12/2024 15:09

Page 92 reveals a contract liability wrt OML 65 FTSA. 3610 million naira ($2.3m) paid by NNPC, a kind of insurance against the risk posed by COPDC assuming operatorship.

[bronislav] 30/12/2024 14:17

Reducing exposure to it's Tunisian portfolio .

This sounds to me it's Cosmos that has been sold and they may be keeping the rest of Tunisia. I would also like to think we would have an ongoing interest in Cosmos as I suggested yesterday.Makes sense to let someone with the clout and knowhow to develop Cosmos and we could have a small percentage interest.

The other Tunisian assets including the new drill and with fracing to come it may well add production.
Fits with Henderson North Africa.
Why announce him in order to dump it all months later.

The North Africa title suggests something else in that neck of the woods.

[htrocka2] 30/12/2024 10:41

Cheers Dr....never the less... the increase is intriguing.

[htrocka2] 30/12/2024 09:42

Yet another 'oily' headed for the dog house....(sorry..I mean JP Jenkins)

[sirianbotham] 30/12/2024 09:10

So if Tunisia is being sold how does that affect the recent additional security for the loan

[vatnabrekk] 30/12/2024 09:01

Doc, re your post 138871 - revenue relating to existing production. Remember this one:

In an update issued on 3rd August 2022 the Company announced that “under the terms of the FTSA, COPDC will receive immediate cash flow entitlements related to the assumption of operational responsibility for existing production.“

When did that change? When did the BoD realise that there was to be no entitlement relating to existing production? Did they carry out management of operations for two whole years before they realised that they were not going to be paid anything?

And they still haven't told us, instead they just issued accounts with zero revenue and left us to figure it out for ourselves!