Caspian Sunrise PLC: Interim Results for the Period Ended 30 June 2020
Highlights in period under review and subsequently
Operational
Production
|
Six months ended 30 June |
Units |
2020 |
2019 |
|
|
|
|
|
|
Total production |
bbls |
272,707 |
259,475 |
|
Production for export sales |
bbls |
115,233 |
– |
|
Production for domestic sales |
bbls |
157,474 |
259,475 |
|
Average daily production in the period |
bopd |
1,494 |
1,421 |
|
Daily production at the period end |
bopd |
1,643 |
1,268 |
·   New Wells 150 & 153 operational in the period under review
·   New Well 151 spudded in the period under review and now testing
·   Acid treatments conducted at Deep Wells A6 & A8
·   Work resumed at deep Well A5
·   Acquisition of the Caspian Explorer now subject only to UAE re-registration
·   New drilling paused
Financial
|
Six months ended 30 June |
|
2020 |
2019 |
|
|
|
$’m |
$’m |
|
|
|
|
|
|
Revenue |
|
5.0 |
4.4 |
|
Gross Profit |
|
2.4 |
0.0 |
|
Operating loss |
|
(0.9) |
(1.4) |
|
Loss before tax |
|
(1.4) |
(1.5) |
|
|
|
|
|
|
Total assets |
|
121.9 |
127.5 |
|
Cash & cash equivalents |
|
0.2 |
4.0 |
|
Other current assets |
|
4.5 |
5.7 |
|
Current liabilities |
|
28.4 |
28.4 |
|
|
|
|
|
|
Net cash used by / provided from operating activities |
|
(4.7) |
4.6 |
