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SRSP Sirius Petroleum Plc

0.40
0.00 (0.00%)
23 May 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Sirius Petroleum Plc LSE:SRSP London Ordinary Share GB00B03VVN93 ORD 0.25P
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.00% 0.40 0.00 01:00:00
Bid Price Offer Price High Price Low Price Open Price
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
  -
Last Trade Time Trade Type Trade Size Trade Price Currency
- O 0 0.40 GBX

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Date Time Title Posts
23/5/202407:31SIRIUS PETROLEUM - CASHED UP AND READY TO ROLL135,203
16/4/202409:35Sirius petroleum8
03/5/202308:59Serious Petroleum240
09/4/202315:16bumhammer1
01/10/202108:02The brightest star in Africa?215

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Posted at 15/5/2024 21:03 by htrocka2
This was estimated over 10 years ago......(and that's without Angola)...I wonder what they'd I've us now...with Angola?

AR Y/E 2020
The following assumptions were used with regards to the vesting period:

'The options granted on 28 February 2011 with a vesting date of 24 March 2014, were assumed to vest in 36 months on their vesting date as the share price was expected to rise above 9p by that time.'
Posted at 01/5/2024 22:16 by only1gibbo
That's interesting Doc. Looking at the 2021 ATOG MIDCO accounts I can't work out exactly what has happened. I remember at the time there was a lot of confusion and conflicting returns filed.

As you point out $0.5m was paid in Nov 20 by SRSP and $4.0m was satisfied with the issue of the 164m shares at 1.75p per the press release. Yet in the 2021 ATOG MIDCO accounts the share premium from the subscription for shares by SRSP was $6.65m, which was obviously used to satisfy the loan with OMEGA of $6.65m, which the accounts state was paid in full following the subscription agreement. The cashflow doesn't show any cash subscription for shares, so where did the additional $2.65m share premium arise from? The cashflow in the individual ATOG MIDCO accounts, which held the OMEGA loan, only shows $120k of loan repayments, so the difference between the $6.65m and $4.0m has also clearly been satisfied with non-cash consideration.
Posted at 28/4/2024 17:41 by vatnabrekk
I reckon it's impossible to say at this stage who gains, as it depends on a) the price that it might re-list at as well as the price that it might quickly move to (up or down) after re-listing, and b) the price that the buyer may be prepared to pay to shareholders for the buy-out. As none of those things is known, I don't see how anyone can say whether we might be better off with one scenario or the other.

And at this stage it's really irrelevant because we have no say in the matter anyway, and we will just have to take whatever is on offer at the time. If anything!

As far as the large shareholders are concerned (or any of us for that matter) the problem that they would have with a re-listing, if they wanted to make a quick killing, is that they would be unable to turn their shares into cash soon after re-listing, because the share price would plummet if there was a massive off-loading of shares. Unless of course their strategy may be to hold for long term gains, ie long term investors. And that's another unknown!

On the other hand, if it's a buyout, then we all know where we stand, and we can all take our cash and run. Much better all round, as far as I'm concerned. Question is though, it there really a buyer-in-waiting out there, waiting on Angola to complete so that they can fill our pockets with cash? My belief is sadly no, but I am aware that others believe otherwise, and that's OK.
Posted at 15/4/2024 13:19 by riskybisky
probably irreleveant but ...top of the leader board today is
Serinus Energy Share Price (SENX)

--- Change: 1.05 (+45.65%)

Looks like they are waiting on approvals in angola too Block kon-13

jan 2024 RNS:
Jersey, Channel Islands, 23 January 2024 -- Serinus Energy plc ("Serinus" or the "Company") (AIM:SENX, WSE:SEN) notes that it has been selected as a preferred bidder on the KON-13 block in the onshore Kwanza basin in the Republic of Angola. Formal notification of this preferred bidder status is expected to be received from the Agência Nacional De Petróleo, Gás E Biocombustíveis ("ANPG") in the coming days. .....
Posted at 11/4/2024 14:45 by dr rosso
At 24 months we are well beyond any standard novation process. With Govt approval of 18/31 acquisition having been received in June 2023, one would expect a further month or so for the full completion to have occurred. Clearly there's an extra factor in play, one which is being handled in total secrecy. No share trading would be allowed during the period. Sure smells like takeover to me, in which case NewCo, with its suitable expertise, will take full control of Tende and its African operations which will include Angola. Complete news blackout is required on this, and that'll also preclude Sherl0ck from dropping any bb hints, hence enforced absence. The idea of Bobo, totally lacking in relevant qualifications, expertise and experience, managing a string of pan-African O&G production/service operations is patently ridiculous. Indeed, he has always stated his role as that of Investment Consultant, end of. Who's left? 80-year old Pryde and that distinctly dodgy bloke whose every word is open to doubt.


Contrast with Afentra, a genuine O&G producer going places, couldn't be greater. Full transparency there, with 6 official updates this year, along with website info. AET full share trading as share price strides towards 50p. Here at Tende, abs fuk all.
Posted at 31/3/2024 10:59 by htrocka2
It's just over a year now since the 164m shares changed hands.That's more shares than all of us on this thread put together. Nobody buys that sort of quantity, spends that sort of money....on a punt or a whim. It's costing 'him' about £150k a year, ie £3,000 per week in interest to have that cash sit there 'doing nothing'. He's going to want his money back with lost interest and a profit.


JP site
30/03/2023 164,365,714 2.00


(31/01/2023)website
Group Operational Update-Commercial Update

'Proposed Listing Process'
The Company continues its work to prepare for a listing for the company’s issued share capital on the LSEG”s AIM market, and intends to undertake this once the proposed acquisition of the Angolan interests is completed.'


The buyer of the 164m shares was well aware at the time of purchase that these shares would NOT relist until the Angola deal had been completed, yet still went ahead with the purchase.

The Angola deal has not, as yet, been concluded. This could mean extra shares being issued. Any info released regarding other assets prior to the Angola conclusion, may effect the current company valuation effecting the share price and become an obstacle to the negotiations. As the person holding the 164m shares has accepted, Let's wait for the Angola deal conclusion....and we're home and dry.



The Angolan deal began life based on crude oil being $75 p/b....todays price is $87 a barrel ($12 higher).....has this become a bone of contention? with both sides trying to reach a new consensus.(As I posted earlier.....the deal has been 'jacked up' once already.)
Posted at 20/3/2024 18:09 by carrbradshaw
Is it me or has the appetite and excitement gone for oilers - when I first got into this many moons ago oil companies share prices were shooting up with thousands of trades every day. There doesn’t even seem like much interest in Afentra so if we get 2p here and my money back I’ll just thank my lucky stars - that’s how much my expectations have fallen.
Posted at 15/3/2024 09:21 by htrocka2
O/T..(ps. I have no interest in AET except for the Tende/Angola connection))

When Afentra gets the final Ministerial Approval in Q2 2024, the shareholders are expecting the share price to hit the £1 mark.....Not bad for a company that's share-rice in March 2020 was 7.32p.( a 13.6 bagger)


AET
'The Company awaits approval from the Minister of Mineral Resources, Petroleum and Gas and it is therefore now expected that the transaction will be completed in 2Q 2024. Afentra continues to benefit from the asset cashflow from the effective date of October 2022 and upon the completion of the transaction Afentra will provide details on the financing of the final completion payment, which will be positively impacted by the asset cashflow.'

(Until we know how the Angola debt will be obtained...it's difficult to evaluate what it'll be worth to TENDE with regards to the final SP))
Posted at 24/2/2024 11:22 by cacophony1
Serious .share price up 5× since delisting.
Try selling them.The share price may as well be up a hundred times.
Posted at 09/12/2023 13:09 by vito corleone the 2nd
Questions for the AGM and to those attending

Q1 With Afentra’s performance in the last two years, their ability to complete deal after deal, their continuous share price surge, keeping shareholders listed as often as possible and fantastic communications, would you say they outperformed Tende and put our track record to shame?

Q2 At the last AGM we were told Angola would complete in April and finance offers are on the table with no reason we won’t be listed in June. We also got told Afentra are months behind tende and have a very long winded deal with complications. What happened?

Q3 Bobo stated 2023 is a significant year for growth. 2023 was finally our year. The share price remains the same at 2p, with no trading since august and we’ve had two updates with significant dilution. What happened?

Q4 When will shareholders see a return on their investment & rewards for their time, money and stress in supporting a company that year after year over promises and under delivers?

Q5 Do the bod believe they act in the best interests of minority shareholders?
Sirius Petroleum share price data is direct from the London Stock Exchange

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