Issue of Equity

2 March 2015

Sirius Petroleum Plc.

("Sirius" or the "Company")

Issue of Equity

Sirius Petroleum (AIM:SRSP), the investing Company focussed on oil and gas development and production opportunities in Nigeria, announces that it has agreed to issue to unrelated parties an aggregate of 43,888,143 new ordinary shares at pre-agreed prices with an average issue price of approximately 2.25 pence per share, to capitalise loans used for working capital and in settlement of fees and certain creditors. Sirius has elected to settle the loans in shares whilst it is in the process of finalising it operational funding requirements as previously announced.

Application for admission of 43,888,143 new Ordinary Shares to trading on AIM has been made and is expected to occur on or around 6 March 2015. The Shares will represent approximately 3.99 per cent. of the Company's existing issued share capital which comprises 1,098,737,213 ordinary shares. The new ordinary shares will rank equally in all respects with the Company's existing ordinary shares. Following this issue the total number of shares in issue will be 1,142,625,356. 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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