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Capricorn Energy PLC - Egypt-focused upstream energy company - Says Woodside Energy Group Ltd, which purchased Capricorn’s stake in the Sangomar oil field in 2020, has received a notice from the Senegalese Tax Authority. Notice states that a registration duty of $28.2 million should have been paid upon Capricorn’s transfer of its offshore Senegal production sharing contract interests, and that Woodside should have withheld $14.5 million in real estate capital gains tax from its payment to Capricorn for those PSC interests. Capricorn is responsible for both under the terms of the sale agreement. Company insists however that neither is payable, and will ‘continue to vigorously defend its position on this matter’. Stock price falls from 168.00 pence per share to 165.50p within minutes, before flattening. Current stock price: 165.50p 12-month change: down 79% Copyright 2023 Alliance News Ltd. All Rights Reserved.
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