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Sirius Petroleum PLC - Ororo Update

RNS Number : 2584V
Sirius Petroleum PLC
05 April 2019
 

 

 

Sirius Petroleum Plc

("Sirius" or the "Company")

 

Operational Update - Ororo Field

 

Sirius Petroleum (AIM: SRSP), the Nigeria-focused oil and gas development and production company, announces that Shelf Drilling's Adriatic-1 rig has reached Target Depth on its current operation and is concluding the testing and logging programme. The Company is awaiting a further update from Shelf Drilling regarding the release of the Adriatic-1, which is currently stationed in the adjacent licence to the Ororo field. As previously disclosed in the AIM Admission Document of 30 November 2017, in order to preserve its current licence, the Company is required to bring the Ororo field into production on or before 1st May 2019. Therefore, given the approaching timeline, the Company has taken the decision to seek a further extension to the term of the licence from the Department of Petroleum Resources in Nigeria, which has already been granted on two previous occasions. The Board will notify the market when further updates are received by the Company.

 

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 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                         

[email protected]

 

 

 

 

 


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
 
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Quick facts: Sirius Petroleum Plc

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Market: AIM
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