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  "documentTitle": "Capricorn Energy PLC (CNE)",
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  "presentationDate": "2022-10-27 00:00:00",
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      "text": "Brent price is ~40% higher today than when the original acquisition was agreed (March 2021)",
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      "text": "Capricorn Egypt: Net WI Production (kboe/d)",
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      "text": "Capricorn Egypt: Valuation Reference Points (US$ million)",
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      "text": "Net WI Reserves (mmboe) and Hydrocarbon Split",
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      "text": "Mature portfolio of onshore producing assets in Western Desert region of Egypt (formerly operated by Shell)\nPartnered with Cheiron: experienced Egyptian upstream operator\nAttractive commercial terms: gas sold at fixed price (~US$2.9/mcf) to EGPC and liquids sold at ~US$1.5/bbl discount to Brent\nLow breakeven: opex ~US$6/boe and capex ~US$3-7/boe\nFive drilling rigs currently in operation (H2 2022) compared to two upon completion of acquisition (September 2021)\nStable and competitive fiscal regime with potential to optimise terms via PSC modernization",
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      "text": "Value Potential: 596",
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      "text": "Capricorn's Western Desert assets in Egypt deliver low-cost and sustainable production with significant upside potential",
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      "text": "Source: Company disclosures, ERCE Fair Market Valuation Report, Gaffney Cline (Project Madero Competent Person's Report, 10 June 2021)\n(1) As of 31 December 2021\n(2) Based on H1 2022 reported production\n(3) Reflects ERCE's total fair market value for Egypt (Risked 2P + 2C)",
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      "kind": "title",
      "text": "High Quality, Opportunity-Rich Egyptian Assets",
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