Sirius Petroleum PLC Operational Update - Ororo (9375Q)

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RNS Number : 9375Q

Sirius Petroleum PLC

25 February 2019

Sirius Petroleum Plc

("Sirius" or the "Company")

Operational Update

Sirius Petroleum (AIM: SRSP), the Nigeria-focused oil and gas development and production company, announces that it has been notified by Shelf Drilling that the Adriatic-1, currently stationed in the adjacent licence to the Ororo field, is approaching Total Well Depth for the incumbent operator. The Board will notify the market when further updates are received by the Company.

As previously disclosed in the AIM Admission Document of 30 November 2017, to preserve its current licence, the Company is required to bring the Ororo field into production on or before 1st May 2019. In the unlikely event that there are any unforeseen delays and the licence does approach its expiry date, the Company would seek a further extension to the term of the licence, which has already been granted on two previous occasions.

Enquiries:

   Sirius Petroleum plc                                         T: 020 3740 7460 

Bobo Kuti, CEO

Mark Henderson, CFO

   Cantor Fitzgerald Europe Limited                  T: 020 7894 7000 

(Nomad and Broker)

David Porter/Nick Tulloch

    Gable Communications Limited                    T: 020 7193 7463 

John Bick

[e-mail]

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.

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February 25, 2019 02:01 ET (07:01 GMT)