Sirius Petroleum Share Discussion Threads

[brianbl] 13/1/2025 12:46

What makes you think that rosso4u?. Looks normal to me and I have just managed to subscribe to him?..old messages are still there as far as I can see. What am I missing? Oh wait, silly me, I see you just joined today.. you would think I would know by now to check that first..!!.. what can I say..welcome?..315;

[rosso4u] 13/1/2025 12:14

dr rosso account has been deleted. Now why would someone do that?

[htrocka2] 12/1/2025 21:31

'The bonuses for 2023 were undrawn but not due for payment until after the Financial Statements are signed.'

Accounts for y/e 2023 signed off on 20/12/2024...posted on 3/Jan 2025..


With the bonuses probably paid for Christmas. I bet they never had spam. I wonder why they kept the 2023 bonuses off the books?....the continual scheming never seems to stop.

Is that legal?...are you allowed to do that...it gives false figures by taking money out of the 2023 Accounts.

[chuffy1972] 12/1/2025 19:24

Bang on the money recently Dr. Everyone's earning except the people who deserve it.

[dr rosso] 12/1/2025 19:17

2022: $215m facilty arranged for Abura AWP. 2023: $661m facility arranged for OML 65.

Lining other people's pockets. Not one single dollar received by Tende Energy for all the responsibilty undertaken in Nigeria, whilst NEPL is producing around three million barrels of oil p.a. from the Abura field.

With no revenue, where's the money coming from to pay salaries, expenses and other benefits? They are helping themselves out of Trafigura loans under the guise of working capital, serving only to increase the spiralling debt. Personal remuneration award ($2.26m) is in inverse relation to performance as measured in net bopd cash flow ($0) to Tende Energy.

[htrocka2] 12/1/2025 14:47

'Remuneration Committee'(page 19 AR)




Don't make me laugh....they meet twice a year to decide how much bonus they should award themselves....for doing what....for turning up at the office and keeping the loans coming which has f+ck all to do with any of us..


Kuti received £250,000 bonus for 2022....that's POUNDS STERLING...££££££££££.......for doing WHAT?


(that must have sharpened the funders up a bit....lost millions for their previous investors....and now paying themselves hundred of thousand of pounds in bonuses....do the funders smell a rat?)

[solarno lopez] 12/1/2025 14:21

Thank you Rugby Bloke and Astral

[astralvision] 12/1/2025 14:16

Yes, can confirm what rugbybloke posted
The question of (exorbitant) salaries was raised at the last AGM, probably others as well.
Toby Hayward answered/fielded the question. He is more than likely on the remuneration panel. The answer was the usual old guff and was hardly satisfactory , from memory.

[rugbybloke] 12/1/2025 14:05

They have yes this has been discussed at all recent AGMs

[solarno lopez] 12/1/2025 13:32

In that case I will ask them just to make sure
Thanks Vat

[vatnabrekk] 12/1/2025 13:25

Sol, two points:
Although de-listed, Tende is still a PLC, so PLC rules apply.

I imagine Hellix has already submitted the questions from the Group to the Bod so we are now waiting for their response.

[htrocka2] 12/1/2025 11:51

Good post Dr...there's bit more to that story than meets the eye.


Sirius Petroleum accounts y/e ending 2021, page 7.
'ATOG agrees deal with Perenco farm-in to Cosmos with a view to produce oil by 2023


Then in the 'Angola Tunisia Oil and Gas' accounts y/e 2021, also page 7 through to page 11 tells us of the horrendous problems they have controlling their own funding having made losses for the previous two years. Page 7 asking Trafigura for a restructuring programme to the extent of suggesting that if they fail to support further funding on the Cosmos operation, they'll close the whole Group down.(That didn't wash)


ATOG MIDCO LTD y/e 2021,(subsequence events) page 6. Perenco deal terminated July 2022


....and there you have it....up to their necks in debt, no one's letting them have any more money (even though they promised on page 10 Anglo Tunisia Oil and Gas y/e 2021 to support ATOG until June 2025...which turned out to be rubbish)....and so they couldn't hang onto Cosmos because of the cost to production...and sold it. So what have we got....as Dr rightly stated...we're back to shuffling money around....robbing Peter to pay Paul....and creaming off a percentage to pay the salaries in the process.

[bestdeal1] 12/1/2025 11:40

WTF is holding up Angola. Time for our BoD to make a proper statement on progress

[vatnabrekk] 12/1/2025 08:08

Excellent bit of research there Doc!

[dr rosso] 11/1/2025 21:49

Debacle. McMurtrie arrived in April to clear up the mess created by Kuti and Henderson. K now gone from ATOG and H gone altogether it would seem, hopefully. Maybe whoever is left can show Tende fit for the purpose to conclude Angola because, for sure, ETU isn't going to be associated with a rank amateur cowboy outfit.

[htrocka2] 11/1/2025 21:35

vat....it may yet happen.

[vatnabrekk] 11/1/2025 20:42

If Tende was the one causing the problem I reckon ETU would have kicked them off long ago, and done the deal themselves which they have done very capably elsewhere.

[htrocka2] 11/1/2025 20:32

'As I keep reminding you guys, it's not Tende who are pushing this transaction through at Angola, it's our partners ETU.''

They don't seem to have problems elsewhere?.....only with the Tende j/v.