REG - Caspian Sunrise plc - First well spudded at West Shalva Contract Area

Caspian SunriseAnnouncement

03/10/2025 07:00

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RNS Number : 8803B  Caspian Sunrise plc  03 October 2025

 

The information contained within this announcement is deemed to constitute
inside information as stipulated under the retained EU law version of the
Market Abuse Regulation (EU) No. 596/2014 (the "UK MAR") which is part of UK
law by virtue of the European Union (Withdrawal) Act 2018. The information
is disclosed in accordance with the Company's obligations under Article 17 of
the UK MAR. Upon the publication of this announcement, this inside information
is now considered to be in the public domain.

 

Caspian Sunrise PLC

First well spudded at the West Shalva Contract Area

 

The board of Caspian Sunrise is pleased to announce that the first well to be
drilled on the West Shalva Contract Area has been spudded.

 

The West Shalva Contract area was acquired in April 2025 for an initial $5
million consideration with a maximum consideration of $15 million in the event
of successful oil production.

 

The well has a planned total depth of approximately 3,000 meters with two
principal targets. The first target is at approximately 2,300 meters in the
Jurassic sandstone with the second target at approximately 2,600 meters in the
Triassic limestone.

 

The well is expected to take approximately two months to drill.

 

Contacts:

 

 Zeus               +44 (0) 203 829 5000

 James Joyce

 James Bavister

 Andre de Andrade

 

 

This announcement has been posted to:

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

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

 

The person responsible for arranging the release of this announcement on
behalf of the Company is Clive Carver, Chairman of the Company.

 

This announcement has been posted to:

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

 

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