Capitalisation of Fees and Loans

4 March 2014

Sirius Petroleum Plc.

("Sirius" or the "Company")

Capitalisation of Fees and Loans totalling £1,219,000

Sirius Petroleum (AIM:SRSP), the Company focussed on oil and gas development and production opportunities in Nigeria, is pleased to announce that it has issued 33,996,212 new ordinary shares at an average price of approximately 3.6 pence per share, to capitalise fees and loans dating back to August 2012 to a total value of £1,219,000. Following settlement of these loans, the balance of loans remaining totals £239,500.

Application for the admission of a total of 33,996,212 new Ordinary Shares to trading on AIM has been made and is expected to occur on 10 March 2014. The Shares will represent 3.33 per cent. of the Enlarged Share Capital and will rank equally in all respects with the existing Ordinary Shares. Following this issue the total number of shares in issue will be 1,019,730,666. This number may be used by shareholders as the denominator for the calculation by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the company.

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