14th Mar 2025 13:29
Capricorn Energy PLC - Egypt-focused oil and gas explorer - Regarding Western Desert Egyptian concession agreements, reaches initial agreement with Egyptian General Petroleum Corp, alias EGPC, which outlines terms to promote increased investment and production, including an improved gas price for incremental production and new discoveries alongside modernised commercial terms. Capricorn and its operating partner, Cheiron Energy, each hold a 50% participating interest in the Western Desert Egyptian concession agreements. Further, Capricorn confirms it is in advanced discussions with EGPC, while any agreement is still subject to approval by the main board of EGPC, and ratification by the Egyptian parliament.
Current stock price: 263.50 pence, up 1.2% on Friday afternoon in London
12-month change: up 56%
By Tom Budszus, Alliance News slot editor
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