Senegal Contingent Payment Update

About this update from Capricorn Energy Plc

[{"type":"text","content":"\n\n \n \n                                                                                                                                   18 July 2023\n \nCAPRICORN ENERGY PLC (\"Capricorn\" or \"the Company\")\n \nSenegal Contingent Payment Update\n \n \nCapricorn notes Woodside Petroleum's (\"Woodside\") announcement today regarding its Sangomar Field Development in Senegal where the targeted first oil has moved from late 2023 to mid-2024. Capricorn remains exposed to a contingent payment of between US$25m and US$50m if first oil is achieved in the first half of 2024 and the average Brent oil price during the first six months of production exceeds the $55/bbl or $60/bbl thresholds contained in the sale and purchase agreement. There is no payment if first oil is achieved later than H1/2024.\n \nEnquiries to:\n \nAnalysts / Investors     \nNathan Piper, Commercial Director                                                         Tel: 0131 475 3000\n \nMedia  \nDiana Milford, Corporate Affairs                                                            &...

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