REG - Caspian Sunrise plc - Operational update

Caspian SunriseAnnouncement

23/12/2021 08:40

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RNS Number : 6210W  Caspian Sunrise plc  23 December 2021

Caspian Sunrise PLC

("Caspian Sunrise" or the "Company")

 

Operational update

 

The Board of Caspian Sunrise is pleased to provide the following update:

 

South Yelemes

We have now received the 25 year production licence for the South Yelemes
structure.

 

This allows existing wells to be re-opened, and the majority of production
from the structure to be sold at international rather than domestic prices.

 

The structure lends itself to use of the horizontal drilling approach that is
working so well on the MJF structure.

 

The South Yelemes production licence upgrade should also allow us to add to
our proven reserves.

 

Production levels

The Board is also pleased to report that production from Well 153, which
commenced production earlier this week, has increased to approximately 1,000
bopd.  Taken together with the production expected from the existing South
Yelemes wells the production capacity of the shallow structures on the BNG
Contract Area is now approximately 3,000 bopd.

 

 

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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