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At what price?
Pasted in full below in case anyone not on the list: Sirius Petroleum Plc
(“Sirius” or “Company”)
Proposed Acquisition of Interests in Angolan Offshore Blocks 18, 27 and 31
Luanda & London, 11 April 2022: Somoil S.A., the largest privately owned Angolan oil company, and Sirius, an Africa focused oil & gas production and development company, are pleased to announce that the joint Somoil-Sirus consortium, (‘the Somoil-Sirius Consortium’ or ‘the Consortium’), has been awarded the exclusive right to acquire participating interests of 8.28% and 10% respectively in the producing Angolan offshore blocks 18 and 31 from Sonangol, Angola’s state-owned oil company, which has announced the partial divestment of its participating interests in the blocks. The Consortium has also been awarded the exclusive right to acquire a 25% participating interest in the exploration block 27. The Consortium will be meeting with Sonangol in due course to finalise the Sale and Purchase Agreement for the proposed acquisition.
Summary – Acquiring Interests in World Class Assets
Block 18 is operated by BP Angola and is located offshore, 160 kilometers northwest of Luanda. Eight discoveries have been made in this block, of which the fields Galio, Cromio, Cobalto, Paladio, and Plutonio make up the first producing complex known as Greater Plutonio. Production started in 2007 and remains at material levels. Late last year the Platina project started production adding significant volumes and reserves to total block production. Licence partners are currently BP (26.67%), Equinor (13.3%), Sinopec International (15%), Sonangol (45%).
Block 31 is operated by BP Angola and is located offshore some 400 kilometres north west of Luanda. The block consists of four oil fields; Plutão, Saturno, Vénus and Marte, which were discovered between 2002 and 2004 in water depths of up to 2,000 metres in the North East part of Block 31. PSVM is the second BP-operated development in Angola and production started up in December 2012. Licence partners are currently BP (26.67%), Equinor (13.3%), Sinopec International (15%), Sonangol (45%).
Block 27 is located offshore in the Kwanza basin, an area known for its gas potential. Block 27 is in its exploration phase.
Commenting, Bobo Kuti, CEO of Sirius, said: “Our partnership with Somoil has provided a strong platform for the proposed acquisition of the respective interests in these world class producing assets”.
Edson R. Dos Santos, Chief Executive Officer of Somoil, said: “This opportunity is aligned with Somoil´s growth strategy; entering ultra-deep waters not only enhances our portfolio but represents a huge step towards becoming a major player in the energy industry in Angola”.
www.somoil.co.ao
www.siriuspetroleum.com
Ends.
I’ve just had an email regarding Angola from SRSP, confirming the article last week. No other news though regarding relist or other assets in Nigeria or Tunisia. Good luck all Verbs
Yes thats good to see. Follows some good research on Advfn re Somoil/Siries
sizeable buying on the JPJ platform
NICE
https://www.sonangol.co.ao/English/News/Pages/NewsHome.aspx?NewsID=555
It's on sonangol website now.
I saw that Rod, maybe it’s finally coming together. It’s been a bloody long wait. Fingers crossed, touch wood etc etc….. Good luck Verbs
Bit of action on JPJ over the last few days, someone picked up 5.7M shares and new indicative price is 1.2p, highest it has been for quite some time, maybe they have knocked off one or more of the remaining three conditions precedent. I remain cautiously optimistic here for some closure news on OML 65 in the not too distant future. GLA Verbs
appreciate the feedback, however not entirely convinced by 'the board were being pushed by an attendee in the second row saying can you see the company being relisted by June and Mark Henderson said that if they get the 3 remaining CPs signed off then no reason not to be listed by then'
Info being teased out of the board does not equate to the sense of purpose demanded in this situation
Thanks Verbs for your summary. Lets hope the oustanding bits get sorted quickly and that we get the AD and a timeline for relisting soon after. Its been far to long and I can see a big exit of shareholders after relist unless they have enough to make it worthwhile holding for longer. ATB Allan
Hi Allan the board were being pushed by an attendee in the second row saying can you see the company being relisted by June and Mark Henderson said that if they get the 3 remaining CPs signed off then no reason not to be listed by then, it was the best that they would allude to. Mark did say that they would need to update the CPRs as they were more than 6 months old and that the 2021 accounts needed to be audited, neither of which should take that long. I think that they didn't want to say that they would relist any earlier, for fear of missing the deadline. I believe the key is the 3 remaining conditions precedent, which according to them could be signed at any point in the near future and then they need a bit of time to update the admission doc and for the yet to be appointed broker to sort out the valuation. Allenby have been appointed as the NOMAD. Hope that this helps, I was quite happy with what I heard, but then again everyone has their own opinions. All the best Verbs
Did the BOD actually state June or was it just a date suggested by an attendee ?
They have signed off one more condition precedent, leaving just 3 to sign hopefully by the end of this month; quoted relist in June as it takes up to 12 weeks. GLA Verbs
AGM started at 10.00, anyone have an insight?
Morning Cider I am looking forward to the AGM on Tuesday; will be far more difficult for them to be vague with answers like the relist date that everyone is waiting on. GLA Verbs
sadly that would be a no!
Why bother with an open offer to shareholders if not needed. I will not be putting in more funds here. GLA Verbs
Is today the day? Will we hear news on other assets and relist date? GLA Verbs
Kjcprem..interesting timing of your post the day before sirius updates.
Wouldnt surprise me if we find out Bobo is having what Boris has had one to many of recently . I celebration party behind closed doors!
i really do hope that is the case, Sirius Pet need to up their game in terms of investor relations, thats for sure!