UK-based oil and gas exploration and production company Sirius Petroleum Plc is intending to raise £2m ($2.49m) in gross proceeds by issuing 266,666,666 shares.

Priced at £0.0075 ($0.01) a share, the issue will help the company raise funds required to support the proposed drilling at the Ororo field located offshore Ondo state, Nigeria.

BW Energy Gabon Pte Ltd is set to acquire additional 25% interest in Dussafu production sharing contract (PSC).

The company has signed a definitive sale and purchase agreement for the same.

Located offshore Gabon, the asset is currently owned by Pan Petroleum Gabon BV, a subsidiary of Panoro Energy ASA.

The deal involves a cash consideration of $12m, which will be financed through BW Energy Gabon’s internal funds.

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By GlobalData
"The deal involves a cash consideration of $12m."

US-based Parker Drilling Company has announced the pricing for its proposed public offering of series A mandatory convertible preferred shares.

Priced at $100 a share, the offering will raise gross proceeds of $50m for the company.

Underwriters to the offering will have a 30-day option to purchase up to 75,000 shares.

In a separate offering, the company intends to issue 12 million shares priced at $2.1 a share to raise $25.2m in gross proceeds.

Underwriters to the offering will be given a 30-day option to purchase up to 1.8 million shares.

Both offerings are expected to be close by 27 February.