The Joni-5 Production Sharing Contract (PSC) is valid for seven years from 9 September 2007. Capricorn holds 100% of the equity.
Subject to relevant Government approvals, a 15% interest in Joni-5 is currently being transferred to Dyas BV.
A 3D seismic survey offshore Albania commenced in September 2009. The results of this survey acquired over the Joni block are encouraging and an exploration well is currently planned for 2011.