Sirius Petroleum Share Discussion Threads

[minichris] 12/8/2017 11:51

Couple of minor points on a decent post HT -Lyon was involved in Petro-Canada's (now Suncor) 2004 acquisition of Buzzard as the purchaser and not the seller. EnCana also had an interest in Buzzard and it was this that was independently sold to Nexen late 2004. It then wasn't until 2013 that CNOOC acquired Nexen.....9 years after Lyon's involvement!

[dr rosso] 12/8/2017 11:44

Is this Lyons bloke in any way related to Graham Lyon who was appointed as an o&g business development consultant to Sirius in Dec 2015?

[shez20] 12/8/2017 10:42

Mr Lyons was in the Nigeria capital a few weeks back! Let's hope on Sirius business

[vatnabrekk] 12/8/2017 10:37

I didn't think that Lyons was brought in specifically to negotiate with BP, I understood that he was a wide-ranging adviser on the whole project?

[drrichard] 12/8/2017 10:31

Nice thoughts, ht. But, could it be the other way round? Maybe Lyons was negotiating happily with CNOOC when BP appeared, riding over the horizon. Cat out of the bag-BP gonna take a load of our hydrocarbons up front for a few $M? Not on your nelly! Bobo to Lyons: get us the best deal, please, Graham.

[htrocka2] 12/8/2017 09:02

Lets string together a few facts and tenuous links....... Graham Lyons, who was prime negotiator in the sale of the multi million pound Buzzard field, has been contracted by Sirius Petroleum to negotiate with BP on the company's behalf. The buzzard field was sold to a Chinese National subsidiary, Nexen, a subsidiary of CNOOC, the Chinese State oil company. SRSP have contracted COSL, also a subsidiary of CNOOC. In both cases a subsidiary would require permission from the holding company to conclude deals. In view of the time taken by the BP/SRSP talks it's seems apparent that negotiations may have become protracted. Let's assume, hypothetically, that BP have got Lyons over a barrel and an impasse now exists that SRSP are not happy with, in turn COSL, who should have drilled in H1, would have had to report back to the parent company the reasons for the delay, and informed of the unexpected BP intervention and that Graham Lyons was the chief negotiator on behalf of SRSP...CNOOC would undoubtedly got in contact with Graham and asked ...what was going on?. Graham Lyons, who is acquainted with the CNOOC negotiating team, may now have an ace up his sleeve....read on below...(as I said...a tenuous link)

[htrocka2] 11/8/2017 21:51

Doug..... $5m-$10m is total peanuts and I believe a 'red herring', even with the Offtake Agreement signed by the Consortium...On the other hand, that's just about the amount the accruals come to that they've promised to pay 'before or during drilling Ororo. Sound Energy had to give Schlumberger 27% of their field in exchange for a 'free carry' and that was after 'Sound' raised $24m towards the estimated final costs of $51m project.

The bottom line...I think this lot want out (after 6 years we've all had a gut full of broken promises).....There's only about 21 months left on the field licence, which is also about the time Havoc and other warrants expire. The DPR know that other parties are now interested in Ororo (that includes Guarantee Petroleum who could save themselves relinquishing 40% of Ororo)....BP's biggest thumb screw is not the lacking of backing or cash, but unless a consensus is reached shortly...all BP have to do is....nothing, just run the clock down, (the Glencore deal that eventually failed took over 16 months) then BP can deal directly with the DPR on their own terms. The longer this goes on without an agreement, the tighter the noose gets around srsp's neck.

ps... As we got closer and closer to the end of H1,the promised drill deadline, there were no 'vibes', no 'excited anticipation', very little was reflected in the share price movement, ....we're approaching the second half of H2......and still no 'vibes'.

[vatnabrekk] 11/8/2017 20:58

In their Final Results RNS on 29th June, they said "The Board intends to make a further announcement on this project in the near future."

Note "this project" meaning Ororo. So they didn't say they would make a further announcement on the discussions with BP, implying (to me, at any rate) that the BP agreement was done and dusted, just waiting for everything else to fall into place so that drilling could start.

[vatnabrekk] 11/8/2017 20:52

Doug: If BP are paying $5M-$10M up front as prepayment for the off-take agreement, then presumably that would be enough to start drilling Ororo. Once they start producing from Ororo, then I imagine they will be better placed to raise more funding for work on the "other assets".

If indeed they would need any further financing if Ororo becomes cash generative?

[openfield68] 11/8/2017 20:32

Buckets and spades

[doug51] 11/8/2017 20:08

BP and sirius talks now two months old,announcement to be made in the near future?.Schlumberger also Sirius have both stated in there rnns they will start the drilling campaign in the second half of 2017.How can they start without funding?

[drrichard] 11/8/2017 19:39

Yep, benny. I'll go with that

[bennyfishery] 11/8/2017 19:15

Well saidly, deadly.

[deadly nightshade] 11/8/2017 19:10

yep i will second that bh. In my opinion mm's are running scared, if they had a mass of spare shares on the books then surely the current share price would be dropping quicker then a lady of the nights draws? current positive share price surely looks as if it's expecting news. i have been invested in aim share where the share price has been hammered due to lack of news flow. the current share price here is not a lot lower then the recent record high of around 1.50 thats got to be a positive. you get the feeling that this might be a game of bluff, mm's may be scared to drop share price as they would be mobbed if it hit say 1p again and would they have the spare share to accomodate. add on the theory that most shares might now be being held by the ones that are holding firm and awaiting news then that might explain why the current share price has not gone up recently. what i like here is surely this is not your average joe bloggs holding all these shares this is more then just punt money, i still go back to the fact a few months back when all those millions of shares were traded day in day out when the spread was around 1.5% for around 4 days?? i am prepared to sit tight till year end the longer this goes on then hopefully the bigger the prize. all speculation and guess work of course but what else can folk do when news flow is zilch.

[bumhammer] 11/8/2017 18:46

Everyone have a good weekend. You deserve it :) x

[bronislav] 11/8/2017 17:59

Just a little faux pas drrichard ,you,re forgiven.

[drrichard] 11/8/2017 16:34

That is a bit harsh benny. Let's agree confirmation bias!

[htrocka2] 11/8/2017 16:00

qprallan...... at least he's confirmed it's not any where near Ororo.

[bennyfishery] 11/8/2017 15:50

Bron:
The urban dictionary would describe drrichard's experience as a 'brain fart'.

[qprallan] 11/8/2017 15:50

Dear Allan, Thank you very much for contacting us! Unfortunately, we do not have any records for the position of COSLPower (IMO: 8768141)! Best Regards, VesselFinder


Oh well. Seems there is no frigging rig to be found. Anyone for trainspotting ?

[wormhole1] 11/8/2017 15:08

Hope you find it..I am googling lithium mines. Given up looking for things Sirius.

[drrichard] 11/8/2017 14:18

LOL Bron! trying. Keep googling looking for that link that will pull it all together.

[drrichard] 11/8/2017 12:57

You are correct, missed that even though I read carefully. Apologies. Post edited.
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