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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.

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Sirius Petroleum Timeline

Newswire
August 14 2017

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