Issue of Equity

21 Jan 2019

Sirius Petroleum Plc

(“Sirius” or the “Company”)

Issue of Equity

Sirius Petroleum (AIM: SRSP), the Nigeria-focused oil and gas development and production company, announces the issue in aggregate of 91,941,910 New Ordinary Shares representing 2.52 per cent of the Company’s enlarged issued share capital. Following the conversion of £240,000 of the European High Growth Opportunities Securitization Fund Convertible Note (announced on 15 January 2019) the Company is issuing 7,272,727 new ordinary shares at a price of 0.55 pence per share and 37,735,849 new ordinary shares at a price of 0.53 pence per share. In addition, a further 46,933,334 new ordinary shares have been placed with existing shareholders at a price of 0.6 pence per ordinary share (the "Placing”) raising proceeds of £281,600 (gross).

Application has been made for the Placing and Conversion Shares to be admitted to trading on AIM, which is expected to occur on, or around, 24 January 2019. Following the issue of the Placing and Conversion Shares, the Company will have 3,647,907,711 ordinary shares of 0.25 pence each in issue. No ordinary shares are held in treasury. The figure of 3,647,907,711 ordinary shares may be used by the Company's shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the Financial Conduct Authority's Disclosure and Transparency Rules.

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