Wednesday 25 April 2018

Cabot Energy, the AIM quoted oil and gas company focused on production led growth balanced with high impact exploration and appraisal opportunities, announces that the Environmental Impact Assessment ("EIA"), which was submitted to the Italian Ministry of the Environment for the drilling of an exploration well on the Vesta prospect, offshore Sicily, has been approved by the Italian regulatory authorities.

The Vesta exploration prospect

- Located in the 100% owned C.R.146 permit, 50 km offshore Sicily in 120 metres of water

- The Company acquired 620 km of 2D seismic across Vesta in 2006

- Target reservoirs are the Liassic and deeper Triassic formations

- Internally estimated unrisked mean prospective resource of 430 mmbbls

- Analogous with the nearby producing Vega oil field, which has produced 74 mmbbls of oil to date

With the receipt of the approval of the EIA, the Company will now seek a farm in partner prior to drilling the exploration well.