Sirius Petroleum PLC Ororo Field - Rig Update (5735Q)

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RNS Number : 5735Q

Sirius Petroleum PLC

07 June 2018

7 June 2018

Sirius Petroleum Plc

("Sirius" or "the Company")

Ororo Field - Rig Update

Sirius Petroleum (AIM: SRSP), the Nigeria focused oil and gas development and production company, announces that following an update from COSL, the Company's international rig partner, the COSL Force jack-up rig has commenced critical equipment re-certification ahead of its mobilisation to Ororo-2 in Nigeria.

COSL informed the Company that the COSL Force required critical equipment re-certification before it could be released to its next contract. Senior Sirius operational personnel have now joined the COSL team in Dubai where the COSL Force is currently stationed and have commenced a programme of critical equipment re-certification. This includes a 5-year re-certification of key equipment which will allow for an extended operational duration for the rig in West Africa. Once this work programme has been completed, the COSL Force will be loaded onto its designated Heavy Lift Vessel ('HLV'). COSL is currently in discussions with HLV providers and, once confirmed, the COSL Force will be mobilised to the Ororo-2 well location.

Commenting, Bobo Kuti, Chief Executive of Sirius, said: "We are very pleased to be back on track with the COSL Force, and whilst the intervening period has been longer than anticipated we can look forward to finally mobilising the rig to the Ororo-2 well location and commencing the drilling programme during the Summer."

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.

Ends

Enquiries:

   Sirius Petroleum                                                        [phone] 

Bobo Kuti, Chief Executive

Mark Henderson, Chief Financial Officer

   Cantor Fitzgerald Europe                                         [phone] 

David Porter/Nick Tulloch

   Gable Communications                                             [phone] 

John Bick [e-mail]

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June 07, 2018 02:00 ET (06:00 GMT)