Sirius Petroleum, an investing company focused on oil and gas exploration and development opportunities in Nigeria recently declared that subscriptions have been made by new and its existing shareholders in respect of an aggregate of 266,666,666 new ordinary shares at a price of 0.75 pence per ordinary share to raise gross proceeds of £2 million. The Company has also agreed to issue to 3,333,333 new ordinary shares at 0.75 pence in settlement of fees. The shares are being issued for the purpose of facilitating the commencement of the proposed drilling programme on the Ororo field in conjunction with the Companys Project Consortium partners; COSL Pan Pacific Drilling, Add Energy, and Schlumberger.
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