16th Mar 2015 07:00
16 March 2015
Sirius Petroleum Plc
("Sirius" or the "Company")
Extension of Long Stop Date for Loan Completion
Sirius Petroleum (AIM:SRSP) the investing company focused on oil and gas exploration and development opportunities in Nigeria, updates its shareholders on progress towards completion of the £9.6 million Convertible Loan with Nima International Ltd. ("Nima"), an affiliate company of Levant Energy Limited.
The Company continues to work closely with Nima and its advisers to complete the reducing number of outstanding items relating to the security documents which need to be agreed in order to complete the Loan. This work remains ongoing and the parties have therefore mutually agreed to extend the completion date from 16 March 2015 to 30 April 2015. Whilst the Directors remain confident of completing the agreement, there can be no guarantee that this will occur.
Commenting, Bobo Kuti, CEO, Sirius Petroleum, said "We are working with Nima to conclude this as soon as possible in order to proceed with our plans to bring our first asset into production."
Enquiries
Sirius Petroleum plc Bobo Kuti / Jamie Bligh | +44 (0) 20 3740 7460 www.siriuspetroleum.com
|
Cairn Financial Advisers LLP (Nomad) Tony Rawlinson
| +44 (0) 20 7148 7900
|
Merlin Partners LLP (Financial Advisor) Ashleigh Ruxton
| +44 20 7484 0901 |
Cantor Fitzgerald Europe (Broker) David Porter / Sarah Wharry
| +44 (0) 207 894 7000
|
Gable Communications Limited John Bick | +44 (0) 20 7193 7463 Email: [email protected]
|
Related Shares:
Sirius Pet