Sirius Petroleum PLC Offshore Service Vessels Contract (3874C)

TIDMSRSP

RNS Number : 3874C

Sirius Petroleum PLC

13 April 2017

13 April 2017

Sirius Petroleum plc

(the "Company" or "Sirius ")

Offshore Service Vessels Contract

Sirius Petroleum (AIM: SRSP), the investing company focused on oil and gas exploration and development opportunities in Nigeria, is pleased to announce that it has arranged for the provision of Offshore Service Vessels ("OSVs") through Tidewater Marine International, Inc, with the signing of an OSV Contract for a multi well campaign as part of Sirius' shallow offshore development strategy in Nigeria.

Tidewater Marine International, Inc are the international technical partner to leading Nigerian marine support company T1 Marine Services Ltd who will act as Contract Principals to the Company and have signed the OSV Contract with Sirius.

About Tidewater Marine International, Inc and T1 Marine Services Ltd:

Tidewater Marine International, Inc is wholly owned by NYSE-listed Tidewater Inc, ("Tidewater") the leading provider of OSVs to the global energy industry. Tidewater has a global footprint, with over 90 percent of its fleet working internationally in more than 60 countries. Its services range from supply and crew transportation, towing and anchor handling as well as a variety of other specialised marine support services in the offshore industry.

T1 Marine Services Ltd is a leading indigenous company offering a wide range of marine support services focused exclusively in the Nigerian offshore industry. T1 Marine Services Ltd owns and operates offshore service vessels in support of all phases of offshore oil and gas exploration, development and production.

Project Consortium Partners

T1 Marine Services Ltd joins the Project Consortium alongside COSL, ADD Energy and Schlumberger to support the drilling programme for the Ororo field.

Bobo Kuti, CEO of Sirius, commented:

"We are pleased to welcome T1 Marine Services Ltd as our vessels service provider to the Ororo field alongside COSL, ADD Energy and Schlumberger and look forward to moving into the next stage"

Frank Gibone, Director of International Sales & Marketing Eastern Hemisphere at Tidewater Marine International, Inc, commented:

"We are very pleased to have been selected by Sirius as their preferred OSV provider and look forward to working in collaboration with them and their partners in making the Ororo field development a successful venture."

Kingsley Adudu, Managing Director of T1 Marine Services Ltd, added:

"T1 Marine Services Ltd and its partners have one of the largest fleets of OSVs in the global industry. We are thrilled to support Sirius' shallow offshore strategy in Nigeria utilising our vessels for the development and production phase of their operations."

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ("MAR"). Upon the publication of this announcement via Regulatory Information Service ("RIS"), this inside information is now considered to be in the public domain.

Enquiries:

   Sirius Petroleum                                                          [phone] 

Bobo Kuti / Jack Pryde

   Cantor Fitzgerald Europe                                            [phone] 

Sarah Wharry / Craig Francis

   Gable Communications                                                [phone] 

John Bick [e-mail]

This information is provided by RNS

The company news service from the London Stock Exchange

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April 13, 2017 02:00 ET (06:00 GMT)