Cap Energy Ltd

December 30, 2013 02:00 ET

Independent Interpretation of Seismic Data for Block 5B in Guinea-Bissau

                                                                                           30 December 2013
                                              CAP ENERGY PLC
                                         ("Cap" or the "Company")

                 Independent Interpretation of Seismic Data for Block 5B in Guinea-Bissau

Cap  Energy  PLC,  a company listed on the ISDX Growth Market focused on the exploration,  production,  and
development  of  oil and gas primarily in sub-Saharan Africa, is pleased to announce the completion  of  an
independent interpretation of seismic data relating to its Guinea-Bissau assets.

Cap has an interest of approximately 30% in each of Block 1 and Block 5B, offshore Guinea-Bissau, which are
operated  by  Atlantic  Petroleum Guinea-Bissau Limited, a subsidiary of Trace Atlantic  Oil  Ltd.  Beicip-
Franlab*  was  appointed by Cap and the other partners interested in the Guinea-Bissau assets to  interpret
the  seismic  data recorded for Block 5B in programmes undertaken in 2011 and 2013 and for  Block  1  in  a
programme undertaken in 2013.

Beicip-Franlab  has  recently concluded its work on Block 5B. Beicip-Franlab's  interpretation  provides  a
quantification  of  the  estimated prospective resources in the Block, based  on  the  currently  available
historical geological and geophysical information, including regional well data.

The  Beicip-Franlab study details an increase in the prospectivity of Block 5B, compared with the Competent
Person's  Report ("CPR") produced in July 2013 by Gas Mediterraneo & Petrolio, principally due to the  more
extensive and more accurate data provided by the 2013 seismic campaign.

Beicip-Franlab's  study  of Block 5B has identified 15 structures and 6 stratigraphic  leads  in  different
formations from Albian/Aptian to Jurassic. Surface extensions of the leads range from 15 to 128 sq. km. The
mean  STOIIP  volumes  of  the leads range between 28 and 2433 MMBO; the mean recoverable  resources  range
between  5.5  and 608 MMBO. The aggregate mean STOIIP volume of the block has been evaluated  as  about  11
billion  bbls  and  the  mean  recoverable resources at about 2.75 billion bbls.  Beicip-Franlab's  figures
compare  with  those in the July 2013 CPR, which estimated 5 structures and 2 stratigraphic  leads,  having
surface  extensions  ranging  from  4 to 60 sq. km and aggregate mean STOIIP  of  2.5  billion  bbls,  with
recoverable resources of 620 MMBO.

The  Directors are delighted not only that the potential of Block 5B has been confirmed but  also  that  it
appears to be above initial expectations.

A  summary  of the key findings of the report by Beicip-Franlab on Block 5B is available on the Cap  Energy
website  at Beicip-Franlab's evaluation of Block 1 is in progress and the results  of
that evaluation will be made available as soon as that study is concluded.

Pierantonio Tassini, the Company's Chief Operating Officer, who has 43 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.

*Beicip-Franlab is a subsidiary of the Institute Français du Pétrole and is a well-regarded consultant  for
geological and geophysical studies, with considerable experience in West Africa basins.

For further information please contact:

Tim Hearley, Chairman
Tel: +44 (0) 7850 390998

Lina Haidar, Chief Executive Officer
Tel: +44 (0) 20 7491 9196

Corporate Adviser:
Duncan Vasey and Mark Anwyl
Peterhouse Corporate Finance Limited
Tel: +44 (0) 20 7469 0930

CAP Energy PLC
25 Dover Street
London W1S 4LX
Tel: +44 (0) 20 7491 9196

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