Sirius Petroleum Share Discussion Threads

[htrocka2] 31/1/2025 21:03

rosso4u...as the current 'light'...what do you make the following..


'The Company signed a MSA with Baker Hughes for the provision of drilling related services
for the further development of the Abura field, representing Phase 1 of the AWP and involving the drilling of up to 9 development wells....(posted...July 2021)



From the latest AR

'Following a detailed appraisal of the available data on both the Abura field and the development fields, Owepele and Osioka, it was agreed that there was a requirement to update the dynamic reservoir modelling of all three fields and this work was successfully completed progressively during the year and post year-end, initially identifying the well targets on the Abura field where average daily production was 8,000 bbl during 2023.'




'...71 per cent of the total (Heavy Oil) reserves are domiciled in acreages operated by NEPL,..' (Our Partners in the OML 65 Project.)



Post year-End Summary( from the AR)
• Q1-Q2 2024...
• New Field Development Plan undertaken for OML65 reflecting the updated field studies and sub-surface conducted during 2024.

Personal comment..
'Yes'...the field produced 13k a day at one stage.....then reduced to 8k..with the loose 'low hanging fruit' now cherry picked, we're now left with the 'dregs'...the heavy oil...proving difficult to extract......that's typical of the sort of deals this lot makes. Still...Trafigura must be aware of the situation and still backing them...that's enough for the time being.

[vatnabrekk] 31/1/2025 19:58

Absolutely!

[brianbl] 31/1/2025 19:29

All the more reason to try to get to 5% and before the AGM.

[brianbl] 31/1/2025 18:31

Good point VAT, from my perspective, HL show mine under Tende

[vatnabrekk] 31/1/2025 18:25

Just a thought, many of you (maybe all) will find that your share certificates or notifications from your broker or bank will say you have shares in Sirius Petroleum plc, which was the name when you bought the shares. My bank (Barclays) explained that the old name is still held in their books because although the company has changed its name, it has not officially changed on the Stock Exchange. But it will when/if we ever re-list.

The old name should still be accepted as proof of owning the shares.

[vatnabrekk] 31/1/2025 18:08

I agree brianbl, and I would also urge everyone to give Hellix 100% support. If we all stick together we can put an awful lot of pressure on the BoD, but if we just sit and moan on this BB then we can hardly blame the BoD if they continue to treat us wth contempt.

If Hellix can say with certainly that he is representing 5%+ of total shareholding, then they would be terribly foolish to just ignore him. Which is in effect what they are doing at the moment.

So come on, get with it chaps and chapesses!

[brianbl] 31/1/2025 17:52

To the 70+ people who have sent Helix notice of their holding, you will have received Helix's update.... please please send him the proof, it will give us more power and clout. Helix has gone to all the trouble to compile questions and gather information for all of our benefit it's the least we can do. Holding 9% of the company on here is massive but with only 2% providing proof our power is limited.. we only need another 3%. I have mine in my sipp and isa on Hargreaves. I sent them a request for details on both from the website and it arrived the next day so can happen quickly, on there at least. Having 5% may well give them cause for concern, it will give us more power and maybe force them take us more serious.

[oliversanvil] 31/1/2025 17:01

Bestdeal what do you think the bestdeal would be?

[bestdeal1] 31/1/2025 16:53

End of the month, BoD spitting in our faces again taking a nice wedge of salary.
Scum bags

[bronislav] 31/1/2025 15:44

How I wish we could go back to the days of chasing rigs around the niger delta .
Back in the day when we were just one more April bed and isa away from nirvana and granitetim was scorned.

[vatnabrekk] 31/1/2025 15:30

They won't be re-listing until they sort our OML65, or complete Angola, or both.

So don't hold your breath!

[rosso4u] 31/1/2025 12:13

Going to be interesting to see if they can justify ongoing exhorbitant remuneration + share options year after year despite repeated operational failures. The only real success I can recall over 17 years is landing a twin funding package of $215m + $661m for OML 65, none of which has translated into realisable value for shareholders. How one can have operatorship of an Abura field producing 600 million barrels of oil through 2023 and 2024 without producing any revenue to the Company, yet grabbing what's going to be over $4m in salaries from the loan trough for that period, is beyond me.

If we dare to look on the bright side, Tunisia sold at a profit yet still entitled to royalties, Angola 18/31/27 $317m from 32 monthly accruals as at 31 Dec 2024. 2 further months combined with sale of ATOG pretty much clears the Trafigura debt, revenue producing infill Abura field production wells commencing late Q2, Dubai commodity trading underway, further asset acquisition in Namibia, shares re-listed at 3.5p+ on a recognised exchange.

What's not to like?


Rather a lot as it happens as, despite all the transformational hype blah blah, they've never yet delivered anything of value to shareholders. Beware the false promises, these are what our BoS (brigade of shysters) excel at.

[vatnabrekk] 31/1/2025 11:56

Also, dare they turn up at the AGM without plausible explanations and answers to the questions that have been put to them by Hellix on behalf of 70 private shareholders?

[htrocka2] 31/1/2025 10:25

This is why pigmonster1...


'You are are right Brian H. Nothing witnessed from this company indicates anything remotely beneficial, for shareholders.'





(Should the donkey ever manage to reach the carrot he'll be disappointed to find out that it was an illusion...because it had already been forward sold.)

[pigmonster1] 31/1/2025 10:21

Has anyone had even the slightest of whispers on anything regarding the Gazette of the Angolan deal. Surely they can't possibly front this again at the upcoming AGM, Can they??

[pigmonster1] 31/1/2025 08:28

You are are right Brian H. Nothing witnessed from this company indicates anything remotely beneficial, for shareholders.

Everything they do, results in value destruction. Why is this??

We have seen it times and time again from these types of companies with, Aim pedigree.

[oliversanvil] 31/1/2025 08:26

1st April!

[aventador] 31/1/2025 08:25

What dates the AGM again?

[vatnabrekk] 31/1/2025 08:07

As a group we need to start thinking about what to do about the AGM if they haven't answered our questions by that time.

[brian helicopter] 31/1/2025 04:38

Risky, I think that the difficulty in pursuing them legally will be difficult. However, one would think that with a small amount of proof of deliberate fraud or sidedeals/payments that they could be investigated by the Serious Fraud Department which could create havoc albeit without any benefit to the shareholders. The move to Dubai and sudden exit from Tunisia with no real updates on the other projects makes me concerned about the restructuring and all of us, who have been drinking their bathwater for the past 5 or 6 years will wake up one morning and find ourselves without any real assets or future.