Sirius Petroleum PLC Update on Acquisition (4332J)

TIDMSRSP

RNS Number : 4332J

Sirius Petroleum PLC

04 December 2018

Sirius Petroleum Plc

("Sirius" or "the Company")

Update on Acquisition of 75% Shareholding in Precision Energy

Sirius Petroleum (AIM: SRSP), the Nigeria-focused oil and gas development and production company, announces that further to the announcement issued earlier today, for the avoidance of doubt, the economic rights between Tetrarch Limited and Fomak Limited as owners of Tetra Energy Services Ltd are split 50/50 and Sirius JV gets its 30% indirect beneficial economic rights exclusively through Tetrarch Limited. The economic rights of Fomak Limited are unaffected by this transaction.

Enquiries:

Sirius Petroleum +44 20 3740 7460

Bobo Kuti, CEO

Jack Pryde, Chairman

Mark Henderson, Chief Financial Officer

Cantor Fitzgerald Europe +44 20 7894 7000

David Porter/Nick Tulloch

Gable Communications +44 20 7193 7463

John Bick srsp@gablecommunications.com

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(END) Dow Jones Newswires

December 04, 2018 11:14 ET (16:14 GMT)

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