REG - Caspian Sunrise plc - Deep Well Production at BNG

Caspian SunriseAnnouncement

25/01/2022 07:50

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RNS Number : 5485Z  Caspian Sunrise plc  25 January 2022

Caspian Sunrise  PLC

("Caspian Sunrise" or the "Company")

 

Deep Well Production at BNG

 

Deep Structures

 

Deep Well A8

The Board of Caspian Sunrise is pleased to report initial production from Deep
Well A8 on the Airshagyl structure at the Group's flagship BNG Contract Area.

 

Production from the first of three intervals planned for testing has been at
the rate of approximately 120 bopd for several days. Work continues to
establish the full potential of this well.

 

Production levels

Aggregate production for the year ended 31 December 2021 was 533,857 barrels
at the average rate of 1,462 bopd (2020: 545,667 barrels at the rate of 1,495
bopd).

 

Production for sale in January 2022 is expected to be approximately 65,000
barrels.

 

Comment:

Clive Carver, Chairman said "The early results from Deep Well A8 are
encouraging. With international oil prices in excess of $85 per barrel the
Company is set for a good year."

 

Contacts:

 

Caspian Sunrise PLC

 

Clive Carver

Chairman
+7 727 375 0202

 

WH Ireland, Nominated Adviser & Broker

 

James
Joyce
+44 (0) 207 220 1666

Andrew de Andrade

 

Qualified person

 

Mr. Assylbek Umbetov, a member Association of Petroleum Engineers, has
reviewed and approved the technical disclosures in this announcement.

 

This announcement has been posted to:

www.caspiansunrise.com/investors (http://www.caspiansunrise.com/investors)

 

The information contained within this announcement is deemed by the Company to
constitute inside information under the Market Abuse Regulation (EU) No.
596/2014.

 

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