Cap Energy Ltd

May 20, 2009 11:22 ET

Issue of Shares

                                              CAP ENERGY LIMITED
                                                Issue of Shares
On  23  December  2008,  CAP Energy Ltd ("CAP Energy" or the "Company") announced that  its  wholly-owned  US
subsidiary,  CAP Energy USA, Inc., had agreed to acquire an interest in the Starks Dome oilfield in  southern
Louisiana  from  CSV  Holdings, Inc. ("CSV"), subject to contract and final due  diligence.   Cap  Energy  is
pleased  to  announce  that  final due diligence has now been completed and  the  Company  has  today  issued
2,615,464 Ordinary Shares of 0.5 pence each in the Company to CSV at a price of 10 pence per share.

The assets being acquired from CSV comprise a 25% working interest in seven producing oil wells and three new
wells shortly to be completed for production, plus the right to participate at base cost in any new wells  to
be drilled on CSV's lease.

CSV's  holding  of  2,625,464  Ordinary Shares represents 29.9% of the Company's  enlarged  issued  share  of
8,747,372 Ordinary Shares. The Directors of the Company are interested in a total of 320,167 Ordinary  Shares
representing 3.66% of the enlarged issued share capital.

The Directors of the Issuer accept responsibility for this announcement.

For further information:

Cap Energy Limited
John Killer
Tel: 07979 903673

St Helen's Capital Plc
Duncan Vasey
Tel: 020 7628 5582

Contact Information

  • Cap Energy Ltd