Petroleum Africa
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Thursday, March 19, 2015
Sirius Petroleum is continuing its efforts to close a $14.2 million loan with Nima International. Once the funding is secured the company will use the funds to develop the Ororo field in Nigeria.
The company said that a number of outstanding items that relate to security documents need to be agreed upon in order to complete the loan. The completion date has been extended from March 16 to April 30.
In a company statement, Sirius CEO Bobo Kutisaid,We are working with Nima to conclude this as soon as possible in order to proceed with our plans to bring our first asset into production.”
With the price of drilling rigs and oil services down in Nigeria the company is hoping to spud its Ororo-2 development well on the Ororo field as soon as possible.
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