REG - Caspian Sunrise plc - Increase in price for oil sold to domestic market
RNS Number : 6484VCaspian Sunrise plc16 April 2021Caspian Sunrise PLC
("Caspian Sunrise" or the "Company")
Increase in the price for oil sold to the domestic market
The Board of Caspian Sunrise are pleased to announce that it has been informed that the price for oil sold to the domestic market from its flagship BNG Contract Area has been increased to approximately $12.4 per barrel.
While this still lags far behind the international price it is approximately double the price received for most of the past 12 months and as such will be a significant boost for the Company's finances.
Comment
Clive Carver, non-executive chairman commented.
"This news is very welcome and we hope it marks the beginning of the closing of the gap between international and domestic prices to levels seen before Covid-19."
Contacts:
Caspian Sunrise PLC
Clive Carver
Chairman +7 727 375 0202
WH Ireland, Nominated Adviser & Broker
James Joyce +44 (0) 207 220 1666
James Sinclair-Ford
Qualified person
Mr. Asslybek 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
The information contained within this announcement is deemed by the Company to constitute inside information under the Market Abuse Regulation (EU) No. 596/2014.
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.ENDMSCGPUACCUPGGAA
Recent news on Caspian Sunrise
See all newsREG - Caspian Sunrise plc - General Meeting Results
AnnouncementREG - Caspian Sunrise plc - Issue of Equity and Option Awards
AnnouncementREG - Caspian Sunrise plc - Proposed Acquisition, Rule 9 Waiver and GM Notice
AnnouncementREG - Caspian Sunrise plc - Strategic & Operational Update
AnnouncementREG - Caspian Sunrise plc - BNG Operational update
Announcement