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Capricorn Energy PLC ( (GB:CNE) ) has provided an update.
Capricorn Energy PLC has announced significant progress in its strategic priorities, particularly in its Egyptian operations, as it prepares to release its half-year results. The company has secured EGPC board approval for renewed concession terms, marking a pivotal milestone for its Egyptian business. With a payment plan in place with the Egyptian General Petroleum Corporation, Capricorn is set to enhance its investment program, aiming to increase reserves and improve value in its Western Desert assets. The company is also evaluating strategic investment opportunities in the region and the UK North Sea, reflecting its focus on cash flow growth through diversification. In the first half of 2025, Capricorn’s production in the Western Desert averaged 20,000 boepd, slightly above the mid-point of its full-year guidance. The company plans to drill 10 development wells in the second half of 2025, targeting liquids in the Badr El Din area. Capricorn’s reserves auditor is evaluating the expected reserves increment from consolidating its Egyptian concession agreements, with an anticipated conversion of resources to 2P reserves of up to 20 mmboe.
The most recent analyst rating on (GB:CNE) stock is a Buy with a £290.00 price target. To see the full list of analyst forecasts on Capricorn Energy PLC stock, see the GB:CNE Stock Forecast page.
Spark’s Take on GB:CNE Stock
According to Spark, TipRanks’ AI Analyst, GB:CNE is a Neutral.
Capricorn Energy PLC has an overall balanced outlook with strengths in corporate strategy and a stable balance sheet. However, financial inconsistencies and negative valuation metrics present risks. Neutral technical indicators and the absence of dividend yield further moderate the stock’s attractiveness.
To see Spark’s full report on GB:CNE stock, click here.
More about Capricorn Energy PLC
Capricorn Energy PLC is a cash flow-focused energy producer with a portfolio of onshore development and production assets in the Western Desert.
Average Trading Volume: 44,200
Technical Sentiment Signal: Hold
Current Market Cap: £160.7M
Learn more about CNE stock on TipRanks’ Stock Analysis page.