CAP Energy Plc
LSE : CAPP

September 25, 2015 06:00 ET

CAP ENERGY SECURES A CARRY FOR A 3D SURVEY OF ITS DJIFFERE BLOCK OFFSHORE SENEGAL

                                                                                                   25 September 2015
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                                                  CAP ENERGY PLC
                                             ("Cap" or the "Company")
                                                         
                 CAP ENERGY SECURES A CARRY FOR A 3D SURVEY OF ITS DJIFFERE BLOCK OFFSHORE SENEGAL

TAOL  Senegal  (Djiffere)  Limited,  in which Cap Energy Plc holds a 49% participation  through  the  fully  owned
subsidiary Sencap, has entered into a farm out option agreement with FAR Ltd (an independent oil and gas  explorer
with high impact assets in West and East Africa) for the Djiffere block offshore Senegal.

The  Djiffere  block is adjacent to FAR's highly prospective Rufisque, Sangomar and Sangomar Deep ("RSSD")  blocks
that contain the significant SNE-1 and FAN-1 oil discoveries.

The  western part of the Djiffere Block is located along geological trend with the shelf play types identified  in
the  eastern part of FAR's RSSD blocks. The potential of this shelf trend has been proven by the world class SNE-1
discovery, which was ranked by IHS CERA as the largest oil discovery worldwide in 2014.

FAR  has  identified  multiple  large prospects for drilling in its existing RSSD blocks  along  the  shelf  trend
totalling 765 million barrels of prospective oil resources (gross, unrisked, best estimate, 100%) in a variety  of
structural  play  types including Buried Hill and Shelf Edge.  FAR has further identified a  number  of  potential
shelf  structures within the Djiffere block from existing 2D seismic data, with one lead already estimated by  FAR
to  have  potential  to contain in excess of 100 million barrels of unrisked prospective resources.  The  Djiffere
block, being in shallow water, is suitable for low cost drilling and near term development projects.

Under  its  agreements, FAR has the option to earn a 75% working interest in the Djiffere  block  by  drilling  an
exploration well before 31 July 2018 (subject to Government approvals). The farm-in option can be exercised by FAR
at  any  time before 31 October 2016.  In exchange of the farm in option, FAR shall fund a 3D survey in  Djiffere,
estimated to cost US$1.1 million.

FAR  has  awarded Polarcus a contract to undertake a 3D seismic survey in the Western part of the Djiffere  block.
This survey, in combination with other seismic data will provide 400km2 of 3D coverage and will evaluate the shelf
trend  potential within the Djiffere block. The survey will be completed during this month as an extension of  the
current  ongoing  3D seismic survey being conducted by FAR and its Senegal joint venture partners  over  its  RSSD
blocks.

The Djiffere Block
The  Djiffere PSC covers an exploration block of 4,459 km2 offshore central Senegal. The block is in water  depths
of between 10m and 250m, and predominantly less than 100m.

To  the  north, the Rufisque Block (operated by Cairn Energy, with partners FAR and ConocoPhillips)  contains  the
Rufisque  Dome wells, with several incidences of oil shows of Cretaceous age. To the west lies the Sangomar  Block
where in 2014 the FAN-1 and SNE-1 wildcat wells made new oil discoveries in 2014.

Pierantonio  Tassini,  the Company's Chief Operating Officer, who has 44 years of relevant experience  within  the
sector, has reviewed and approved the technical information contained in this announcement.

The Directors of Cap Energy PLC are responsible for the contents of this announcement.

For further information please contact:


CAP Energy PLC
20 Berkeley Square
London W1J 6EQ
Tel: +44 (0) 20 7491 9196
Email: info@capenergyplc.com

Peterhouse Corporate Finance Limited

Mark Anwyl
Duncan Vasey
Tel: +44 (0) 20 7469 0930


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