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Sirius Petroleum Signs Deal With Havoc, Issues It Warrants (ALLISS)

Mon, 22nd Jun 2015 08:49

LONDON (Alliance News) - Sirius Petroleum PLC on Monday said it will issue warrants to Havoc Partners LLP after it signed a contract with Havoc to provide technical services.

Under the deal, Havoc will provide technical and commercial assessment services to Sirius on all oil and gas assets for which Sirius is interested in acquiring or farming into.

Sirius will issue warrants over 100 million shares to Havoc as part of the deal, at a strike price of 2 pence per share. Sirius shares were up 4.0% to 0.78 pence on Monday.

Sirius also has issued warrants over 3 million shares, also at a 2 pence strike price, to Cairn Financial Advisers LLP, its nominated adviser, in lieu of fees.

By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance

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