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DM they need an AGM to re-elect the directors, amongst other things. ATB Verbs
It is encouraging! But we do need relisting dates, I have emailed Sirius but don't expect a response!
Belfort, the news out this morning is encouraging, just wish we had dates for the AGM and Relist. GLA Verbs
note the word, transitional, not transformational milestone..
Dear Shareholder,
You will be receiving a notice, which has been posted today, that the Company has taken the decision to adjourn the forthcoming AGM and a rescheduled date will be announced in due course.
We are pleased to report that the senior funding for the development of OML 65 has now been extended to provide up to US$200m: Phase 1 + into Phase 2 and whilst we had intended to report fully at the AGM, a number of condition precedents have now taken priority to complete with the senior funding partners to OML 65. As a result of the adjournment, we will be announcing a proposed date for a webinar in order to provide an online platform to update shareholders on OML 65, on confirmation from the Company's lead funding partners.
The webinar for shareholders will provide an update on the Company's OML 65 transaction, including; an overview of the asset, operational partners, key production statistics - both current and target production levels through the initial Phase 1, and the current agreed work programme proposed near term on the Abura Field, the first producing target to benefit from the new senior funding package.
We are fully aware that this process has been long in the making, however the OML 65 transaction will mark a transitional milestone for the Company, its shareholders and stakeholder partners alike and it remains a priority for all concerned.
Sirius Petroleum Plc
It is, moreover, required to restore to the initial state the surfaces of the research permit canceled by virtue of this decree, and this, in accordance with the laws and regulations in force as well as with international standards and conventions ratified by the Tunisian state.
Tunisia: Ministry of Industry cancels two hydrocarbon exploration permits
24-11-2021
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The Ministry of Industry, Mines and Energy has just canceled hydrocarbon exploration permits, under orders published in the latest edition of the Official Journal.
Thus, the hydrocarbon exploration permit, known as the "South Remada" permit, is canceled, by virtue of the decree of October 27, 2021.
Is canceled from August 20, 2021, the hydrocarbon exploration permit called permit "South Remada" instituted by the order of the Minister of Industry, Energy and Small and Medium Enterprises of September 15, 2005, indicates its first article.
The Tunisian Company of Petroleum Activities and the company "ATOG Sahara Limited" have forfeited their respective rights from the hydrocarbon exploration permit known as the "South Remada" permit.
The company "ATOG Sahara Limited" is liable for a compensatory indemnity of three million two hundred thousand dollars (3.2 million dollars) for work commitments not carried out on the hydrocarbon exploration permit known as the "South Remada" permit such as defined in article 5 of the specifications annexed to the special agreement relating to the said permit.
The company "ATOG Sahara Limited" is required to restore the surfaces of the research permit canceled by virtue of this decree to their initial state, in accordance with the laws and regulations in force as well as with international standards and conventions. ratified by the Tunisian state.
The Hydrocarbons Advisory Committee had decided at its meeting on June 22 and 23, 2021 to cancel the “Sud Remada” exploration permit and to include it in the list of free blocks, after finding that the term had expired. time limit set in the letter of formal notice sent to the company "ATOG Sahara Limited", without it having presented the required bank guarantee.
Cancellation of the "Jenein Center" permit
A second decree from the same minister cancels the hydrocarbon exploration permit known as the "Jenein Center" permit.
As of August 20, 2021, the hydrocarbon exploration permit known as the "Jenein center" permit, dating back to April 23, 2010, is canceled.
The Tunisian Company of Petroleum Activities and the company "ATOG Sahara Limited" have forfeited their respective rights from the hydrocarbon exploration permit known as the "Jenein center" permit.
The company "ATOG Sahara Limited" is liable for a compensatory indemnity of six (6) million dollars for work commitments not carried out on the hydrocarbon exploration permit known as the "Jenein Center" permit as defined in the article 5 of the specifications annexed to
the special agreement relating to the said permit.
It is, moreover, required to restore to the initial state the surfaces of the research permit canceled by virtue of this decree, and this, in accordance with the laws and regulations in force as well as with international standards and conventions ratified by the
Your not seeing things, hopefully relist soon depending on IPO!
Is there life back in this share, am I seeing things
Work seems to be progressing in the back ground, but your guess is as good as mine!
https://siriuspetroleum.com/news/corporate-news/news-details/2021/-OML-65-Development-Update---Baker-Hughes-Appointed-Onshore-Approved-Services-Provider/default.aspx
Not sure if anyone still checking on this board
Sirius have issued RNS yesterday confirming 40% investment on ATOG for which would appear they have privately raised £4m from share issues at 1.75p.
Rumours of relist in Q3 at 2p.
Still not getting my hopes up yet after all these years but there may just be a glimmer of light.
Fingers crossed for all LTH
ATB
going to be a long long summer for SRSP holders..
"to incorporate the most up to date documentation on the Company’s portfolio of African assets and audited financial accounts for the year ended 31 December 2020. We are working with our Nomad, auditors, legal and professional advisers to conclude this process and will provide a further update as soon as the final stages of the timetable for the IPO are confirmed."
Are you sitting comfortably?
Good things come to those that wait and wait and wait .......
Sirius Petroleum Plc (“Sirius” or “Company”)
JV Partnership OML 65
$80m Development Funding Secured
Update: Proposed AIM Admission
London, 14 May 2021: Sirius, the Africa focused oil & gas development company, is pleased to update shareholders on the Company’s transaction in Nigeria and its intended IPO on London’s AIM market.
Nigeria Transaction
In November 2020, the Company announced that it had signed legally binding agreements in relation to a proposed Nigerian transaction. Further to this, Sirius will become a 30 per cent shareholder in the joint venture company, COPDC Petroleum Development Company Limited (“COPDC”), which has executed agreements with NNPC (Nigeria National Petroleum Corporation) regarding the development of the OML 65 licence, onshore Nigeria.
OML 65 is a producing onshore block with 2P reserves of 51 mmbbls, according to a Gaffney Cline & Associates CPR dated May 2021:
The existing producing field, Abura, has been in production since the 1970s, has been ascribed 16.2 mmbbls remaining 2P reserves[1] and is currently producing c.8,500 bopd.
OML 65 also contains two further discovered and appraised fields, Owopele and Osioka, which have not been developed to date and will form part of the forward work programme. The two discovered fields contain an estimated 34.9 mmbbls additional 2P reserves1.
In addition, there are two targeted deeper prospects at Abura and Osioka containing an additional 227mmbbls oil in place1.
The existing production facilities and infrastructure servicing the Abura field are capable of handling up to 40,000 bopd.
Sirius and COPDC will assume de-facto operatorship of the block and will lead an Approved Work Programme (“AWP”) to develop and produce the remaining reserves on OML 65
$80m Development Funding Secured
The Company is pleased to announce that credit approval has been secured for a senior funding facility of up to $80m with a leading global commodity trading company, which will form the major part of the funding required to deliver the first phase of the AWP. The senior funding facility is subject to customary conditions.
The first phase of the AWP will involve the further development of the producing Abura field, comprising a planned nine well drilling programme, estimated to boost production by up to 11,000 bopd.
Commenting, Bobo Kuti, CEO of Sirius Petroleum Plc, said: “We are delighted to be partnering with COPDC to operate the OML 65 block and to lead the redevelopment of what is a very substantial asset. This is a transformational, low risk transaction for Sirius shareholders, delivering material near-term production and cash flows and we are particularly pleased to have secured funding from a tier-one global trader.”
Update re: Proposed AIM Admission
We also write to update you on progress towards the Company’s proposed AIM Admission and are pleased to report that this process will be advancing over the coming weeks, to incorporate the most up to date document
Hi DLNY lots of chatter on the other board, also there has been a bit of activity on the JP Jenkins trading site the last few days. It feels like something is about to give, but I have had that feeling before. Anyhow fingers crossed for some positive news. All the best and good luck Verbs
patience? ha ha !
it's 12 years already.... tick tock
Agree, when will the BOD deliver in their promises ?
On the advfn board, a guy who knows the BOD bought shares in a money raise some months ago, is VERY confident of SRSP delivering multiple deals on oil producing assets in Africa, as majors exit the continent. So, unfortunately now patience is required.
Never hit a target in 12 years. I was thinking yesterday I would start an oil an gas company, pay myself £250k, get a couple of shareholders on board and bung them some free shares till they die them those get cancelled them employ leprechaun as CFO and pay him to spread more bull as he’s a believer then suspend then keep paying myself £250k and don’t answer the phones... raise another £1 million through a placing then drag it out for 2 years then announce we are on the cusp of a big one... billion dollars.... placing get higher maybe 1.5p -2p shareholders calmed down meanwhile still draw £250k meanwhile all shareholders ****ed over whilst I swam around taking my wife and kids around a the World playing a play boy life style life! I think if I did this for real it would see me into retirement and produce no oil. Who is up for a pacing should I start it?
Nope
Have they ever hit a deadline or target?
self feeding frenzy over on advfn, self professed experts playing detective
Ditto GB
Hi Verbs, after all the broken promises, I am not at all surprised. I must be a fool as If I sold on JPJ's site I would make a small profit, Luckily, it is money I have written off, and I am hoping that one day it may come good, so I have decided to wait and see - silly me - I hope I live that long!