Proactive Investors - Run By Investors For Investors

Sirius Petroleum shares rise as it inks rig deal

"We are delighted to have sourced a drilling rig which is currently on station in the Niger Delta"
oil and gas operations
Sirius shares were up 15%

Sirius Petroleum PLC (LON:SRSP) shares advanced on Monday as it told investors it had secured a rig for the Ororo field, offshore Nigeria.

It has signed an agreement with Shelf Drilling for the jack-up rig is already located in proximity to the Ororo field, and, it is due to become available in November.

Shares up 15%​

The company said it anticipates spudding the Ororo-2 well at the earliest possible time, during the fourth quarter of this year.

"We are delighted to have sourced a drilling rig which is currently on station in the Niger Delta and is ahead of schedule on its current drilling programme, hence has become available,” said Bobo Kuti, Sirius chief executive.

“It meets our technical criteria for the Ororo field drilling programme and we look forward to working with our operational partners Schlumberger and Add Energy on commencing the Ororo drilling programme."

Sirius Petroleum shares climbed 15% to trade at 0.72p.

View full SRSP profile View Profile

Sirius Petroleum Timeline

Newswire
August 14 2017

Related Articles

oil and gas operations
July 03 2018
Analyst Ashley Kelty highlighted what could be characterised as favourable environment and opportunity for Rose Petroleum
New prospect areas near the Dorado-1 oil discovery
October 15 2018
Three additional prospects are estimated to contain significant quantities of oil, gas and condensate.
gas pipes
October 22 2018
GDC is working with Altaaqa and other equipment suppliers to fast track six generators

© Proactive Investors 2018

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use