Sirius Petroleum PLC Ororo Update - Seabed Survey (5409A)

TIDMSRSP

RNS Number : 5409A

Sirius Petroleum PLC

27 March 2017

27 March 2017

Sirius Petroleum plc

(the "Company" or "Sirius ")

Ororo Update - Seabed Survey

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 executed a contract with Polaris Consulting Company ("Polaris") which has been engaged to undertake a Seabed Survey around the Ororo field licence area. The marine vessel conducting the survey will mobilise to site in early April and it is anticipated that the survey will take approximately two weeks to complete.

This activity is a geophysical and geotechnical marine survey, ahead of the rig mobilisation, which will provide data and analysis for the rig positioning prior to drilling and assess any marine geohazards to ensure safe operations and transportation of equipment. This is a requirement by rig providers and as such the Company has been instructed by COSL Drilling Pan-Pacific ("COSL") to conduct this survey in order to finalise the rig selection from the fleet of Jack-up rigs owned by COSL, ahead of the anticipated multi-well campaign.

Bobo Kuti, CEO of Sirius, commented:

"We are pleased to have signed this contract with Polaris and look forward to receiving the results of the seabed survey in due course. This is another important step forward and when completed will allow the Jack-up rig to be mobilised to site."

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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March 27, 2017 02:01 ET (06:01 GMT)