Exercise of Warrants

20 February 2012

Sirius Petroleum plc

("Sirius" or the "Company")

Exercise of Warrants

The Companyannounces that it has received notice to exercise warrants over 60,000,000 new ordinary shares of 0.25 pence each in the Company ("Ordinary Shares) from EMMEF Investments Limited ("EMMEF") at an exercise price of 0.25 pence per Ordinary Share. Accordingly, the Company will issue 60,000,000 new Ordinary Shares in settlement of this exercise (the "Warrant Exercise").

The new Ordinary Shares will rank pari passu with the existing Ordinary Shares and application has been made for the new Ordinary Shares to be admitted to trading on AIM ("Admission"). It is expected that the shares will be issued, Admission will become effective and dealings in the new Ordinary Shares will commence at 8.00 a.m. on 24 February 2012.

Following the Warrant Exercise, there will be 814,226,330 Ordinary Shares in issue. 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.

Following the Warrant Exercise, EMMEF is interested in, in aggregate, 145,686,842 Ordinary Shares, representing approximately 17.89 per cent. of the Company's issued share capital.

Ends

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