Capricorn Energy PLC provided production guidance for the year ended December 31, 2023. To the end of October 2023, working interest production across the four main concession areas in the Western Desert averaged 30,600 boepd (45% oil) for the year. The combination of further project delays beyond those outlined at the H1/23 results in September and lower than expected contributions from new wells mean that FY23 is expected to average c.30,000boepd, below the low end of the original FY23 32-36,000 boepd guidance.

The previously forecast exit rate was impacted by the timing of the delivery of key projects at Teen and in the BED area where a number of activities, including new wells and projects, could contribute to production prior to year-end.