Sirius Pet Regulatory News (SRSP)

3 November 2015

Sirius Petroleum Plc.

("Sirius" or the "Company")

Well Permit Approval

Sirius Petroleum (AIM:SRSP), the investing Company focussed on oil and gas development and production opportunities in Nigeria, is pleased to announce that Guarantee Petroleum, one of Sirius' local partners in the Ororo Field, has received approval to drill the proposed Ororo-2A well on the Ororo Field ("Approval") from the Department of Petroleum Resources ("DPR") in Nigeria. The Ororo-2A well is Sirius' first appraisal well in the Ororo Field, and is named according to the chronological number of the drilling sequence for the field.

Sirius has been working closely with the DPR and its partners, Guarantee Petroleum and Owena Oil & Gas (together with Sirius, the "Partners") and, whilst no Marginal Field licences have yet been formally renewed, the Directors believe that the Approval from the DPR confirms that the Partners have met the necessary licence obligations on the asset to allow them to commence operations on the field. The Approval will expire six months from the date of issue, being 26 October 2015, at which point Guarantee must seek revalidation on behalf of the Partners, if drilling has not commenced.

Commenting, Dr. Samuel Omobomi, Chairman of Guarantee Petroleum, said: "We look forward to developing the Ororo Field to first oil with Sirius Petroleum and Owena Oil & Gas and concluding the initial work programme on our shallow offshore asset."

Commenting, Bobo Kuti, CEO of Sirius Petroleum, said: "I am delighted that we have been able to reach this major milestone towards developing the Ororo Field and building significant value for shareholders."

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