Caspian Sunrise PLC: Annual Report and Financial Statements for the Year Ended 31 December 2019

Caspian Sunrise, the Central Asian oil and gas company with a focus on Kazakhstan, is pleased to announce its audited final results for the year ended 31 December 2019.

Highlights for the year:

Operational:

•            Operational (wells drilled at end of year) 2019: 17 (2018: 17)

•            Aggregate production for 2019 was 506,620 barrels (2018: 589,750) a decline of 14.1 per cent.

•            Reserves at 31 December 2019 P1 17.8 mmbls & P2 28.8 mmbls (2018: P1 17.8mmbls & P2 28.8) mmbls

Financial:

•            Revenue: $12.1 million (2018: $10.7 million)

•            Loss for the year $1.4 million (2018: $8.5 million)

•            Cash at bank: $4.1 million (2018: $0.6 million)

•            Total assets: $127.5 million (2018: $65.5 million)

•            CAPEX expenditures:

o      Exploration assets $61.8 million (2018: $55.7 million)

o      Plant, property & equipment $48.9 million (2018: $ nil)

As at 31 May 2020 production was at the rate of 1,700 bopd, with a production capacity of 2,000 bopd.

The Report and Accounts and Notice of Annual General Meeting will shortly be posted to shareholders and available from the Company’s website at https://www.caspiansunrise.com/investors/reports.