Sirius Petroleum Share Discussion Threads

[aventador] 10/2/2025 08:56

Make your mind up

[rosso4u] 10/2/2025 08:07

The alternative scenario is that all is about to come good. For this to play out, Angola has to show up in the Gazette BEFORE the 24th. If Angola truly is in the bag, the crude becomes refined product for Dubai trading in polymers. The Company survives and gets a new lease of life as Nigeria infill production wells come onstream. Free carry in Tunisia. Band of Brothers (BoB) overshoot their 3.6p (31 Dec 2025) and 4.3p (31 Dec 2026) options share price targets, and everyone is happy, notwithstanding a bit of dilution. Listing, with exceptionally strong growth prospects for existing assets + further acquisitions funded and producing.

[aventador] 10/2/2025 07:58

How anyone can go to that AGM and not be in a fit of rage having tens of thousands of pound ripped off of them is beyond me this lot need taking into account for robbing us blind!!!

[vatnabrekk] 09/2/2025 23:23

However Doc, all that being said, how does that leave all of the wealthy big boys who have spent serious money accumulating shares in Tende Energy plc? That is actually the ONLY thing that makes me think that there must be something to come out of this, or several guys & gals much more powerful than any of us will be paying our BoD an unwelcome visit.

[htrocka2] 09/2/2025 22:59

'I am convinced that all of that is deliberate, not by mistake. They simply do not want to tell us WTF is going on.'

This has now become a private directors club..... We minions have served our purpose and are now just a nuisance.

[aventador] 09/2/2025 18:31

This has been a shambles since day dot

[vatnabrekk] 09/2/2025 17:05

My biggest gripe is the lack of communications from our BoD, and when they do attempt to communicate their updates are ambiguous, misleading, unclear, and full of conflicting and contradictory data.

I am convinced that all of that is deliberate, not by mistake. They simply do not want to tell us WTF is going on.

And I think that is pretty much confirmed when they use excuses such as "other stakeholders" and "confidentiality" for not answering questions. I suspect those phrases will used quite a lot at the AGM if they don't want to answer any questions.

[vatnabrekk] 09/2/2025 16:51

I thought it was Bobby Ewing from "Dallas"!

[brianbl] 09/2/2025 16:46

DrR..'And more than a little miffed'. That has got to be the undestatement of the decade. Crowd control in operation there?

[brianbl] 09/2/2025 16:42

SirB, that made me laugh and Game of Thrones came rushing back. Ahhh nostalgia eh..

[brianbl] 09/2/2025 16:40

Thanks Rajraj, I see that as something of a positive, but the term clutching and straws does spring to mind.

[rosso4u] 09/2/2025 15:38

This is not a sustainable genuine O&G business. Minimal revenue is wiped out by a variety of costs, not least finance fees of over $16m for 2023 alone, and $20m remuneration accumulated over the years. Piling one ever more expensive loan on top of the previous one. All they are doing is lining other people's and their own pockets in a Ponzi scheme with an inevitable outcome.

Following the ongoing OML 65 zero-income debacle, which has put an end to Tunisian hopes, the potential saviour is Angolan feed being processed into refined product for the commodity trading market. 34 months down the line since Etu's 18/31 SPA, combined with a 16-year history of failure, one could be forgiven for feeling nervous about this coming off. And more than a little miffed. Lob an extra brick on my behalf.

[sirianbotham] 09/2/2025 15:10

It seems to me DrR than rather being out of their depth they have been rather effective at keeping this going for so long and paying themselves to do so ... reminds me of a never ending Netflix series that promises so much but the final episode (when it comes) is a complete let down ... perhaps I'll come out the shower one day and realise it's all been a bad dream

[rajraj b] 09/2/2025 14:52

It said Tende Energy. I took photos but don't know how to put it on here as I only use my phone to access this board.

[brianbl] 09/2/2025 14:26

Rajah b, out of interest, was it Tende or SRSP on the list of occupants at Bury Street?.

[rajraj b] 09/2/2025 13:42

Must admit was tempted to chuck a brick through the window.

[rajraj b] 09/2/2025 13:41

For anybody interested, Tende Energy still have registered offices in Bury Street, Mayfair. Was in London this morning and walked past their offices and can see their name still on the list of occupancy at 25 Bury Street.

[htrocka2] 09/2/2025 09:14

Dr...Twice the company refers to the Tunisia situation as ' de-risking' as opposed to 'di-vestment'....There is a subtle difference. I wonder if was a re-action to the Trafigura fraud debacle that help push them into the 'de-risking' strategy.?



What is Divesting?
Divesting is the act of a company selling off an asset. While divesting may refer to the sale of any asset, it is most commonly used in the context of selling a non-core business unit.

Having been involved with and raised millions against Tunisia since June 2021...I'd hardly call it 'Non-Core"
(Maybe, as a result of the Nigeria operation falling short of expectation Trafigura pulled the plug on this one?)

The need to raise $1.377m , last Sept, for cash (note..in dollars) added to the need to re-post the 'material uncertainty' reference in the 'going concern' section of the AR...looks like a 'red flag'.

[brian helicopter] 08/2/2025 19:42

So it appears as if Perenco is still in the picture? Would this include BBT or is Larssen keeping the onshore? And any idea of what Tende's production is now after the workovers? How long would it take to get Government approval for the sale?