Cap Energy Ltd
LSE : CAPP

September 20, 2013 02:00 ET

INTERIM RESULTS FOR THE SIX MONTHS ENDED 30th JUNE 2013

                                                                                                  GB00B7KFPB91GBP
                                                                                                20 September 2013
                                                       
                                              CAP ENERGY LIMITED
                                        ("Cap Energy" or the "Company")

                            INTERIM RESULTS FOR THE SIX MONTHS ENDED 30th JUNE 2013


Cap  Energy  Limited is pleased to announce its unaudited interim results for the six months  ended  30th  June
2013.

The  Company has made a loss for the period of GBP 363,724 primarily in relation to the ongoing expenditure  on
the  development of its Guinea Bissau assets and in assessing other interesting prospects in the  West  African
and sub-Saharan region.

Shareholders will be aware of the release of The Competent Persons Report on our two Guinea Bissau Leases which
evaluated our Operator's, Trace Atlantic's 2D Seismic results.  These are most encouraging and show significant
evidence  of  large-scale oil assets.  These results shall be followed up soon by further 2D and thereafter  3D
Seismic work to be carried out by early next year.

The  Board  of  Cap Energy continues to look to expand the Company's exploration activities in  West  and  sub-
Saharan  Africa and a number of potentially interesting prospects are being evaluated by the senior  management
team on which further progress will be reported as this occurs.

UNAUDITED CONSOLIDATED PROFIT AND LOSS ACCOUNT
                                                       
                                                       6 Months ended      6 Months ended         Year ended 
                                                              30 June             30 June         31December
                                                                 2013                2012               2012
                                                            Unaudited           Unaudited            Audited
                                                                  GBP                 GBP                GBP
                                                                                              
TURNOVER                                                           -                    -                  -

                                                                                                     
Cost of sales                                                      -                    -                  -

GROSS PROFIT/ (LOSS)                                               -                    -                  -

                                                                                 
Administrative expenses                                     (363,718)             (12,630)         (114,425) 
                  
Exceptional administrative credits/(expenses)                      0              (62,427)
                                                         
OPERATING (LOSS)                                            (363,718)             (75,057)         (114,425)
                                                                                                      
Profit on disposal/(amounts written off) of  investments           -                    -            24,532

Gain on conversion of loan notes/creditors                         -              598,736                 -

Interest payable                                                  (6)                   -            49,198

(LOSS)/PROFIT ON ORDINARY ACTIVITIES BEFORE TAXATION        (363,724)             523,679           (40,695)

Tax on profit on ordinary activities                               -                    -                 -

(LOSS)/PROFIT ON ORDINARY ACTIVITIES AFTER TAXATION         (363,724)             523,679           (40,695)

                                                                                                      
(Loss)/Earnings per share                                   GBP(0.01)             GBP0.01          GBP(0.00)
                                                                                                      
                                                                                                                    
UNAUDITED CONSOLIDATED BALANCE SHEET                                                                                
As at 30 June 2013                                                                                                  
                                                                                                                    
                                                                                                                    
                                                        As at 30 June       As at 30 June           As at 31
                                                                 2013                2012      December June
                                                            Unaudited           Unaudited      2012  Audited
                                                                  GBP                 GBP                GBP
Fixed assets                                                                                                   
Tangible fixed assets                                           5,317                   -             320,268       
Fixed asset investments                                     1,577,067                   -                 132
                                                            1,582,073                   -             320,400 
                                                                                                           
Current assets                                                                                                    
Debtors                                                        34,932              190,912              3,598       
Cash at bank                                                    1,949                   39                 95    
                                                               36,881              190,951              3,693

                                                                                                             
Creditors falling due within one year                      (1,922,906)                   -          (364,009)          

Net current (liabilities)/assets                           (1,886,025)             190,951           (360,316)
                                                                         
Total assets less current liabilities                        (303,641)             190,951            (39,916)

Creditors falling due after more than one year                      -                    -                  -

Net (liabilities)/assets                                     (303,641)             190,951            (39,916)

                                                                                                                  
Capital and reserves  
                                                                                            
Called up share capital                                       338,387              198,799            238,387      
Share premium account                                       1,580,384            1,293,270          1,580,384  
Profit and loss account                                    (2,222,412)          (1,301,118)        (1,858,687)
                                                                                
Shareholders' funds                                          (303,641)             190,951            (39,916)        
                                                                                                          
                                                                                                
The consolidated interim financial information for the 6 months ended 30 June 2013 has not been audited but has
been reviewed by the Company's auditor.

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

For further information please contact:

Tim Hearley, Chairman
Tel: +44 (0) 7850 390 998
Email: tim.hearley@capenergyplc.com

Lina Haidar, Chief Executive Officer
Tel: +44 (0) 20 7491 9196
Email: lina.haidar@capenergyplc.com

Corporate Adviser:
Mark Anwyl and Duncan Vasey
Peterhouse Corporate Finance Limited
Tel: +44 (0) 20 7469 0930
Email: duncan@pcorpfin.com

CAP Energy Limited
25 Dover Street
London W1S 4LX
Tel: +44 (0) 20 7491 9196
Email: info@capenergyplc.com





Contact Information

  • Cap Energy Ltd