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.

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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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"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.