Sirius Petroleum Share Discussion Threads

[htrocka2] 06/1/2025 15:03

cheers heliman2..Looks like another year down the pan.$26m of debt accumulated(with valid accompanying reasons) The usual $2.68m in salaries..All we've got look forward to this year is the Angola outcome.zzzzzzz

Who ever loaned them the $50m are going to want that back...with interest...I'm scratching my head as to how they expect to do this......more borrowing perhaps....that's how Robert Maxwell use to operate.

[heliman2] 06/1/2025 13:56

Accounts are up on Companies house

[1sonic] 04/1/2025 20:58

HT. the AR was out on the tende website before Christmas

[htrocka2] 04/1/2025 20:36

The AR comes out Monday week.I know from experience that the bod casts the occasional eye on his thread. Just post your questions on this thread.... and I'm sure they'll be addressed within the oncoming AR.

[vatnabrekk] 04/1/2025 19:23

The more people who contribute to this, the more chance we have of getting some answers.

[oliversanvil] 04/1/2025 19:09

Hanging upside down in the wardrobe !

[primroselil] 04/1/2025 18:50

How do you sleep at night?

[helix_22] 04/1/2025 18:22

What question would you want to put to the board? I'm compiling a list to send them from the group of shareholders that has been formed.

If you would like to join the shareholder group please fill in this google form and join the 70+ others who have already filled it in:

[htrocka2] 04/1/2025 10:38

O/T

The Head of Creating Accountancy...(she leads...every on else follows.)




'The government spent a staggering £102billion servicing the interest on our national debt last year.'.....and they keep on borrowing more...

[htrocka2] 04/1/2025 10:10

Creative Accounting.....The whole world uses this device....Let's hope TENDE are less creative than most..

"Every company in the country is fiddling its profits. Every set of published accounts is based on books which have been gently cooked or completely roasted. The figures which are fed twice a year to the investing public have all been changed in order to protect the guilty. It is the biggest con trick since the Trojan horse. ... In fact this deception is all in perfectly good taste. It is totally legitimate. It is creative accounting."
Ian Griffiths in 1986, describing creative accounting[2]




As in the previous news item, it's not what's stated that's important...it's what 's left out that leads to speculation and consipiacy......Anyway.... we look forward with anticipation...good luck Tende. Don't let us down.

[stbilow] 04/1/2025 08:50

Creative accounting is their speciality!

[vatnabrekk] 03/1/2025 18:49

Ah, so they have submitted them to Companies House after all, albeit late!
But Tende Angola and ATOG Midco are still showing as overdue.

[htrocka2] 03/1/2025 17:39

Company Results

03 Jan 2025 Group of companies' accounts made up to 31 December 2023
This document is being processed and will be available in 10 days.

[ace1976] 02/1/2025 16:05

Will leave you Doc and Vanta to it,the BB is in a dire state

[dr rosso] 02/1/2025 12:38

ATOG Accounts for y/e 2023 are now overdue, but we know from Tende's AR that O&G revenue for the year is going to show as $9m.

Looking back, we see ATOG y/e 2020 revenue $9m, 2021 $9.4m, 2022 $17.4m, 2023 $9m (wiped out instantly by operating costs of $26m). As soon as it falls into Tende hands, completion of sale in June 2023, the output plummets, almost halving the revenue, this despite Tende informing us of "excellent progress" including 3 workovers on BBT field.


Worth a quick glance at the figures being quoted here. They are wildly optimistic and hopelessly unachievable. Needless to say, under Tende's watch, reality hits hard. The above presentation has now been withdrawn from the website.

But the most disturbing aspect is that Tunisia is not alone in the hype not materialising. It starts in 2010 with a very detailed positive review of Ke Field, Ororo in 2015 (backed up by Hendo's oral Turner-Pope "ready-to-go" stunt in Dec 2017). It doesn't stop there. OML 109 is next up, followed by OML 65.

It's the same every time. The projected figures and statements are pure hyperbole, each set of fabulous numbers in due course reducing to zero or thereabouts. The Ds are taking, in the circumstances, exhorbitant remuneration on the basis of unmet wishful-thinking targets, instead of on actual performance. Paying themselves for repeated failure. Sure enough, Tunisia is zero (after costs), OML 65 is zero. A never-changing $0 which moves on to the next great thing.

The rinse and repeat nature of the act exposes the goings-on by the same group of ppl who have been running the show over the years. Exposed as a scam. The latest AR humiliation means that they have to go, simple as that.

[vatnabrekk] 02/1/2025 10:11

I'm sure they know a lot more than we do!

[rpat2] 01/1/2025 21:14

And we are assuming that Traf are that daft!

[vatnabrekk] 01/1/2025 21:07

You are right Carc, we haven't been given details of the JV, and as it is the JV that has signed the services contract with NNPC, presumably the revenue would be paid to the JV and not direct to Tende.

But I'm not even sure if that is correct. There are just too many unknowns here.