Sirius Petroleum PLC Result of GM and Appt of Interim COO (6311Z)

TIDMSRSP

RNS Number : 6311Z

Sirius Petroleum PLC

18 December 2017

18 December 2017

Sirius Petroleum Plc

("Sirius" or the "Company")

Result of General Meeting

Appointment of Interim Chief Operating Officer

Sirius Petroleum (AIM:SRSP), the investing Company focussed on oil and gas development and production opportunities in Nigeria, announces that at the General Meeting of shareholders held today, all resolutions put to shareholders were duly passed.

The Board is delighted that shareholders have approved the proposals contained in the Admission Document and on Admission of the Company's enlarged share capital on AIM tomorrow, Tuesday 19 December, Sirius will complete of its transformation into an operating company focused on developing proven oil and gas assets in Nigeria working alongside its world class technical and finance partners.

Appointment of Interim Chief Operating Officer ("COO")

The Company also confirms the appointment of Dermot O'Keeffe as Interim COO, with primary responsibility for all operational areas of the Ororo field development, a role which he has recently fulfilled on an acting basis. He will continue to report directly into the Chief Executive of Sirius. Dermot is COO of Add Energy AS, the well management solutions partner to Sirius on the Ororo Field. Dermot joined Add Energy AS in 2011 as Vice President Well Management. Dermot holds a BSc (Honours) in Engineering Geology from the University of Newcastle upon Tyne, an MSc in Petroleum Engineering from the Royal School of Mines, Imperial College London and an MBA from the AGSM in Sydney. He has extensive international drilling and completion experience with several large operators, including BP offshore UKCS and onshore in The Netherlands, Sun International E&P in technical positions offshore in the UK North Sea, Malaysia, and onshore in Gabon and Shell in Diyarbakir, south east Turkey.

Jack Pryde, Chairman, said: "We are very grateful for the strong support the Company has received from shareholders and we can look forward to a very active year ahead as the team executes the strategy to develop the Ororo Field, the first of the Company's intended producing and near production oil and gas assets. We are delighted to formalise Dermot's role as COO, to complement a strong operational team supported by an expanded Board with very considerable commercial and sector experience."

Commenting, Bobo Kuti, Chief Executive, said: "This marks a transformation point in the progress of the Company and we enter 2018 with a compelling financial and operating structure which is designed to deliver value to all stakeholders. We look forward to the commencement of the well campaign operations on Ororo-2 in early 2018."

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

   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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December 18, 2017 05:10 ET (10:10 GMT)