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Cap Energy attains interest in block offshore Senegal

21st February 2014

Cap Energy has attained an indirect interest in the Djiffere block, the “Djiffere Licence”, offshore Senegal

Cap Energy attains interest in Djiffere block offshore Senegal

Cap Energy PLC, a UK-based company dedicated to the exploration, production and development of oil and gas in sub-Saharan Africa, has obtained an indirect interest in the the Djiffere block, the “Djiffere Licence”, offshore Senegal.

The Djiffere Licence area makes up approximately 4,459 km² in shallow waters in the Senegal Basin off the West African coast and is adjacent to the Block Rufisque Offshore area operated by Cairn Energy PLC.

Sencap Limited, a new subsidiary of Cap Energy, obtained from Trace Atlantic Oil Limited (TAOL) a 49 per cent interest in TAOL Senegal Limited, the company holding the Djiffere Licence.  TAOL owns 51 per cent interest in TAOL Djiffere and also the operating partner in TAOL Djiffere.

Lina Haidar, Cap's chief executive officer, said "The acquisition of the Djiffere interest is an important step forward in the development of our operations in the sub-Saharan region and complements our existing presence offshore Guinea-Bissau.”

Haidar explained that the company will “continue  to  further our strategic alliance with Trace Atlantic by targeting new exploration  frontiers through  our  combined operational, technical and commercial skills in the region and by accessing,  through Trace  Atlantic,  the  proprietary technologies of Rex Technology Management  Ltd. to delineate prospective sub-Saharan acreage.”

She concluded, “We look forward to updating shareholders on progress at these activities and on further expansion of our portfolio in due course."

 

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