AGM Rescheduled6 Dec 2021 08:55
Dear Shareholder,
You will be receiving a notice, which has been posted today, that the Company has taken the decision to adjourn the forthcoming AGM and a rescheduled date will be announced in due course.
We are pleased to report that the senior funding for the development of OML 65 has now been extended to provide up to US$200m: Phase 1 + into Phase 2 and whilst we had intended to report fully at the AGM, a number of condition precedents have now taken priority to complete with the senior funding partners to OML 65. As a result of the adjournment, we will be announcing a proposed date for a webinar in order to provide an online platform to update shareholders on OML 65, on confirmation from the Company's lead funding partners.
The webinar for shareholders will provide an update on the Company's OML 65 transaction, including; an overview of the asset, operational partners, key production statistics - both current and target production levels through the initial Phase 1, and the current agreed work programme proposed near term on the Abura Field, the first producing target to benefit from the new senior funding package.
We are fully aware that this process has been long in the making, however the OML 65 transaction will mark a transitional milestone for the Company, its shareholders and stakeholder partners alike and it remains a priority for all concerned.
Sirius Petroleum Plc