General Update

Source: RNS
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

James Bavister

Andrew de Andrade

+44 (0) 203 829 5000





 

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

 

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.

 

 

 

 

 

 

 

 

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.
 
END
 
 
UPDSSMFDEELSEEU