CAP Energy Plc

October 30, 2014 03:00 ET

Trading Update to 30 September 2014

                                                                                             30 October 2014
                                              CAP ENERGY PLC
                                         ("Cap" or the "Company")
                                    Trading Update to 30 September 2014
Cap Energy Plc, the Sub-Saharan focused oil exploration company listed on the ISDX Growth Market (CAPP)  is
pleased to provide a trading update for the quarter ended 30 September 2014.

The  Company  has participations in three offshore blocks in the highly prospective Senegal Basin  in  West
Africa:  Blocks  1 and 5B off Guinea-Bissau and Block Djiffere off Senegal. Extensive 2D seismic  campaigns
were undertaken during 2013 over the Guinea-Bissau assets and in 2014 over the Senegal asset.

In  Guinea-Bissau,  following analysis of the Block 5B seismic results, the  joint  venture  has  made  the
decision  to  move to a 3D seismic acquisition over the block, which is due to start during November  2014.
The Block 1 results required further analysis and this is ongoing.

In  Senegal, the 2D seismic data interpretation process is nearing completion. Of enormous significance  to
the project, and therefore the Company, has been the very recent announcement by Cairn Energy, operators of
the  block immediately to the West of Block Djiffere, of a major oil discovery in the Fan-1 well, with mean
gross STOIIP estimates of 950 mmbbls. This discovery has further potential ramifications as the Cairn block
also shares geological similarities with Cap's  Guinea-Bissau block 5B.

The  Company continues to fund its activities through its major shareholders and is looking to move to  AIM
or another exchange of similar liquidity.

Edison  Investment  Research has just released an updated research note on the Company  to  supplement  the
original  research paper produced at the end of April. Both of these, plus the Company's own  presentation,
are available on the Company website

The  Directors  of  Cap  are  responsible for the contents of this announcement. Pierantonio  Tassini,  the
Company's  Chief  Operating Officer, who has over 40 years of experience in oil and  gas  exploration,  has
reviewed the technical content of this update.

For further information please contact:

Cap Energy PLC
Chanelle George, Investor Relations
Tel: +44 (0) 207 491 9196

Martin Groak, CFO
Tel: +44 (0) 207 491 9196

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

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

Contact Information

  • CAP Energy Plc