Caspian Sunrise: 2017 1H Results – Completion of Merger, Production at 3,400 bopd

Caspian Sunrise, formerly Roxi Petroleum plc, the Central Asian oil and gas company with a focus on Kazakhstan, announces its unaudited results for the six-month period ended 30 June 2017.

Highlights

In the period under review

Corporate / Financial

· Completion of the merger with Baverstock GmbH, following which we now own 99% of our flagship BNG asset

· Conversion of $10.1 million debt to equity at 10p per share

Operational – shallow wells

· Continued strong performance from the MJF structure

Subsequently

Financial

· Income from test production now sufficient to cover all G&A and shallow drilling costs

· Retention payment from the Galaz disposal recovered

· Several of the oil trader funding arrangements have been repaid

Operational

· Well 145 on the MJF structure was drilled to its planned Total Depth of 2,500 meters meters and is testing at the rate of 490 bopd

· Aggregate production capacity is now in excess of 3,400 bopd

· The planned side-track at Deep Well A5 from 4,082 meters is well underway

· Deep Well 801 demonstrates periodic oil flows under natural pressure

· Success at new intervals at Well 54 is expected to have a meaningful impact on South Yelemes reserves