Sirius cashes up for Nigeria

OIL AND GAS explorer Sirius Petroleum has said it would raise about $25mn through a share placing to fund the development of the Ke field in Nigeria.

 

The company said it would place about 313.9 mn shares at eight cents per share. Sirius shares last closed at 14 cents on the London Stock Exchange on 19 February, after which the company requested that trading be suspended due to matters related to its acquisition of the Ke field.

In February, Sirius agreed to acquire a 40 per cent interest in Del Sigma Petroleum’s Ke field, located in the Niger Delta, in a reverse takeover deal.

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