REG - Caspian Sunrise plc - General Update

Caspian SunriseAnnouncement

02/09/2024 14:30

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RNS Number : 5711C  Caspian Sunrise plc  02 September 2024

 

Caspian Sunrise PLC

("Caspian Sunrise" or the "Company")

 

Licence upgrades at the BNG Contract Area's deep structures & Deep Well
803 testing

 

The Board confirms that as part of the process to achieve separate 25 year
production licences at the Airshagyl and Yelemes Deep structures it has agreed
with the Kazakh authorities to extend the previous appraisal licence for up to
a further 12 months.

 

This will allow time for the completion and review of the supporting licence
upgrade applications, including the independent reserves assessment already
completed for the Airshagyl structure and the equivalent assessment at the
Yelemes Deep structure, which is awaiting the outcome of testing at Deep Well
803.

 

Deep Well 803, which was drilled on the Yelemes Deep structure and where oil
was detected over a 60 meter interval between depths of 3,360 and 3,420
meters, has initially tested at around the 500 bopd level. Further testing
will be conducted once the licence extensions referred to above are in place.

 

Proposed disposal of the MJF & South Yelemes structures

 

Further to the RNS dated 18 July 2024, the board notes that the exclusivity
period ended on 31 August 2024. A further announcement on the proposed sale of
the MJF & South Yelemes structures will be made in due course.

 

 

Contacts:

Caspian Sunrise PLC

 Clive Carver, Chairman              +7 727 375 0202

 

Zeus Capital Limited

 James Joyce         +44 (0) 203 829 5000

 James Bavister

 Andrew de Andrade

 

Qualified person

 

Mr. Assylbek Umbetov, a member of the 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 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.

 

 

 

 

 

 

 

 

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