CAP Energy Plc

March 23, 2015 08:48 ET

Initial results from interpretation of 3,750 kilometres 2D seismic over the Senegal Djiffere licence

                                                                                                     23 March 2015
                                                  CAP ENERGY PLC
                                          ("Cap Energy" or the "Company")
       Initial results from interpretation of 3,750 kilometres 2D seismic over the Senegal Djiffere licence

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 initial results of  an  independent
interpretation  by  Gas  Mediterraneo & Petrolio of 3,750 kilometres 2D seismic data  relating  to  the  Company's
Djiffere licence (Cap Energy interest 44.1%) in Senegal.

The  Djiffere  PSC  covers an exploration block of 4,459 square kilometres offshore central Senegal  in  a  highly
prospective part of the Senegal Gambia Basin. The block is in water depths of between 10 metres to 250 metres, and
predominantly less than 100 metres, while proven mature oil source rock exists immediately to the west, downdip of
the  block.  The modern 2D seismic was acquired during 2014 by the operator, and well ties have been made  to  the
nearest oil discoveries. The interpretation of 2D data acquired in 2014 is almost completed and several structural
leads and prospects have already been mapped on the block.

The largest prospect to date is the Antelope structure, a three way rollover against a fault, which main level  is
estimated to contain potential resources of 168 mmbo (P50 recoverable) in Campanian sands. The full assessment  of
the prospects and leads shall be announced soon, once the final independent report is available.

Further  potential is expected in stratigraphic leads, subject to further study and the acquisition of 3D seismic.
3D  data  would  provide  the  Joint Venture with a better understanding of the main  target  prospects,  improved
structural  imaging and access to a more robust work flow which would include amplitude versus  offset  (AVO)  and
other  attribute  analysis.  The operator is also planning to continue to use the  RVD  ("Rex  Virtual  Drilling")
technology to help reduce risk on the target prospects.

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 are responsible for the contents of this announcement.


CAP Energy Plc
Chanelle George, Investor Relations
Ewen Ainsworth, CFO
Tel: +44 (0) 20 7491 9196

Daniel Stewart & Company Plc
David Coffman, Corporate Adviser
Martin Lampshire, Broker
Tel: +44 (0) 207 776 6550

CAP Energy Plc
20 Berkeley Square
London W1J 6EQ
Tel: +44 (0) 20 7491 9196

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  • CAP Energy Plc