Statement regarding press speculation

Summary by AI ^BETAClose X

Capricorn Energy PLC has confirmed receiving multiple acquisition proposals from Dragon Oil for its Western Desert assets, but the Board believes the latest offer does not reflect the true value of these assets and remains focused on maximizing shareholder value, clarifying that no proposal has been made to acquire the entire company.

Disclaimer*

Capricorn Energy PLC

24 March 2026

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION

24 March 2026

Capricorn Energy PLC ("Capricorn Energy" or "the Company")

Statement regarding press speculation

Capricorn Energy notes the recent press speculation and confirms that it has received multiple proposals from Dragon Oil to acquire the Company's assets in the Western Desert.

The Company has carefully considered the latest proposal and does not currently believe that it reflects the underlying value of the assets. The Board and management remain focused on maximising shareholder value.

The Company confirms that it has not received a proposal from Dragon Oil to acquire the Company.

Enquiries to:

Analysts / Investors
Nathan Piper, Commercial Director	Tel: 0131 475 3000

Media
Diana Milford, Corporate Affairs	Tel: 0131 475 3000

Georgia Edmonds / Violet Wilson / Fergus Young, Camarco	Tel: 0203 757 4980

About Capricorn Energy PLC

Capricorn is a cash flow-focused energy producer, with an attractive portfolio of onshore development

and production assets in the Western Desert.

For further information, visit www.capricornenergy.com.

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