Revision of Existing Warrants

Sirius Petroleum Plc

("Sirius" or "the Company")

Revision of Existing Warrants

Sirius Petroleum (AIM: SRSP), the Nigeria focused oil and gas development and production company, announces the following change which the Company has agreed over 100 million existing warrants.

On 11 August 2015, Sirius issued to Harmattan Energy Ltd ("Harmattan"), a wholly owned subsidiary of Havoc Partners LLP, technical adviser to Sirius, warrants over 100 million ordinary shares exercisable at a strike price of 2 pence per share at any time following the date of grant until the third anniversary of the date of grant. Harmattan has subsequently agreed to the cancellation of all of these warrants and the issue of new warrants over 35 million ordinary shares ("New Warrants"). The New Warrants have an exercise price of 2 pence per share and are exercisable for a period of two years from 11 August 2018.

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ("MAR"). Upon the publication of this announcement via Regulatory Information Service ("RIS"), this inside information is now considered to be in the public domain.

Ends

Enquiries:

Sirius Petroleum +44 20 3740 7460

Bobo Kuti, Chief Executive

Jack Pryde, Chairman

Cantor Fitzgerald Europe +44 20 7894 7000

David Porter/Nick Tulloch

Gable Communications +44 20 7193 7463

John Bick srsp@gablecommunications.com