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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  Sirius Petroleum Plc    SRSP   GB00B03VVN93

SIRIUS PETROLEUM PLC

(SRSP)
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Delayed Quote. Delayed London Stock Exchange - 02/22 11:35:11 am
0.4 GBp   --.--%
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Sirius Petroleum : Production Crude Handling Agreement for Ugo-Ocha Offshore Terminal

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02/11/2019 | 10:12am EDT

Sirius Petroleum (AIM: SRSP), the Nigeria-focused oil and gas development and production company, is pleased to announce that it has entered into a Crude Handling Agreement ('CHA'), in line with the Company's commercial offshore strategy, with the Terminal Operator of the Ugo-Ocha Floating Storage & Offloading unit ('FSO') with offtake from production wells delivered via coastal tankers to the FSO.

The Ugo-Ocha oil terminal is located offshore within the waters of the Exclusive Economic Zone of Nigeria and can store up 2,000,000 bbls of crude. The CHA provides for crude handling, receipt, storage and delivery, quality assurance, health, safety and environment and regulatory compliances.

Bobo Kuti, CEO of Sirius Petroleum plc, said: 'We are pleased to have secured this agreement to export our crude production through a secure offshore terminal which is in line with our commercial offshore strategy and provides the most flexible offtake option for our offtake partner.'

Contact:

Tel: +44 20 7894 7000

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.

(C) 2019 Electronic News Publishing, source ENP Newswire

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Income Statement Evolution
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Mean consensus
Number of Analysts
Average target price -
Spread / Average Target -100%
Managers
NameTitle
Olukayode Olufemi Kuti Chief Executive Officer & Director
Jack Pryde Chairman
Dermot O'Keeffe Chief Operating Officer
Mark Henderson Chief Financial Officer & Director
Christopher Neal Non-Executive Director
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