REG - Capricorn Energy PLC - Trading and payment update

Capricorn EnergyAnnouncement

24/10/2025 07:00

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RNS Number : 6539E  Capricorn Energy PLC  24 October 2025

FOR IMMEDIATE RELEASE                                                                                          24 October 2025

 

 

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

 

Trading and payment update

 

Capricorn announces that it has received $50m from the Egyptian General
Petroleum Corporation (EGPC). Since 30 June 2025, the Company has received a
total of $102m, and its accounts receivable is approximately $115m (H1'25 -
$182m) (excluding expected credit loss adjustments).

 

The Company expects to receive further material payments against arrears
before year end.

 

Capricorn continues to invest in its Egyptian asset base and has fulfilled all
exploration commitments on its legacy acreage. At South East Horus, Capricorn,
with its joint venture partner Cheiron (the "Joint Venture"), has elected to
continue into Phase 2 following test results. The Joint Venture will also be
pursuing an application for a new development lease on the North Um Baraka
(NUMB) concession due to encouraging test results from an exploration well
drilled earlier this year. Additionally, the NUMB concession will be included
in the modernised concession agreement allowing for continued exploration. On
the West El Fayoum concession, commitments have been fulfilled, and the
results are such that the Joint Venture will relinquish the block.

 

Customary ratification of the modernised concession agreement is now expected
to take place in Q1 2026 due to limited time for additional business in the
current session of Parliament. The modernised concession agreement will have
an operational start date of 01 July 2025.

 

Capricorn remains on track to deliver above the mid-point of FY25 production
guidance of 17,000-21,000 boepd with year-to-date production averaging 19,924
boepd to mid-October, of which 41% are liquids.

 

 

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 Western Desert.

 

For more information, visit www.capricornenergy.com
(http://www.capricornenergy.com) .

 

 

 

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