REG - Capricorn Energy PLC - Egypt Concessions

Capricorn EnergyAnnouncement

14/03/2025 12:45

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RNS Number : 7860A  Capricorn Energy PLC  14 March 2025

FOR IMMEDIATE RELEASE                                                                                            14 March 2025

 

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION

 

CAPRICORN ENERGY PLC ("Capricorn" or "the Company")

 

Egypt Concessions

 

 

Capricorn notes recent press speculation in Egypt that an improved gas price
was agreed with the Egyptian General Petroleum Corporation ("EGPC") with
respect to the Western Desert Egyptian concession agreements in which
Capricorn and its operating partner, Cheiron Energy, each hold a 50%
participating interest.

 

An initial agreement has been reached with EGPC which outlines terms to
promote increased investment and production, including an improved gas price
for incremental production and new discoveries alongside modernised commercial
terms. The Company can confirm that it is in advanced discussions with EGPC,
but any agreement is still subject to approval by the Main Board of EGPC and
ratification by the Egyptian Parliament.

 

 

Ends

 

 

 

Enquiries to:

 Analysts / Investors
 Nathan Piper, Commercial Director                                           Tel: 0131 475 3000

 Media
 Diana Milford, Corporate Affairs                                            Tel: 0131 475 3000

 Georgia Edmonds / Violet Wilson / Fergus Young, Camarco                     Tel: 0203 757 4980

 

About Capricorn Energy PLC

 

Capricorn is a cash flow focused energy producer, with an attractive portfolio
of onshore development and production assets in the Egyptian Western Desert
and, subject to completion, a producing position in the UK North Sea. For
further information, visit www.capricornenergy.com
(http://www.capricornenergy.com) .

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