Caspian Sunrise: Proposed Sale of the BNG Shallow Structures for $83 Million
The Board of Caspian Sunrise is pleased to announce it has entered into an agreement to grant exclusivity to Absolute Resources LLP (“Absolute Resources“) a Kazakh registered company, in connection with the proposed conditional sale of the MJF and South Yelemes structures at the BNG Contract Area for a consideration …
Caspian Sunrise: Sale of 50% of Caspian Explorer & Operational Update
Introduction The Board of Caspian Sunrise is pleased to update the market with news of the conditional sale of 50% of the Caspian Explorer for $22.5 million together with a general operational update. Background The Caspian Explorer is a drilling vessel designed specifically for use in the shallow northern Caspian …
Caspian Sunrise: Operational update 25 May 2022
Introduction The Board of Caspian Sunrise PLC (“Caspian Sunrise” or the “Company”) is pleased to report the successful workover of Well 142 on the MJF structure, which has added a further approximately 1,400 bopd (at 8mm choke) to the BNG production capacity, which including the existing South Yelemes wells, is …
Caspian Sunrise: Aiming to Benefit from Higher Production and Oil Price
The Board of Caspian Sunrise is pleased to update the market with news of the $6.2 million debt conversion, to provide an operational update including the impact of sanctions imposed against Russia. Debt Conversion At the General Meeting earlier today Independent Shareholders approved the resolution required to implement the proposed Debt Conversion in full. 30,442,701 …
Caspian Sunrise: Deep Well Production at BNG
Deep Structures Deep Well A8 The Board of Caspian Sunrise is pleased to report initial production from Deep Well A8 on the Airshagyl structure at the Group’s flagship BNG Contract Area. Production from the first of three intervals planned for testing has been at the rate of approximately 120 bopd …
Caspian Sunrise: Receives 25 Year Production License for South Yelemes
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. …
Caspian Sunrise: Operational, Financial and Shareholding Update
The Board of Caspian Sunrise is pleased to provide the following update: BNG Shallow Wells MJF Structure We are pleased to report that our latest well on the MJF structure, Well 153, has commenced production at the rate of approximately 830 bopd, using a 8.5mm choke. As with Well 154, which continues …
Caspian Sunrise: BNG Operational Update
The Board of Caspian Sunrise is pleased to provide the following operational update at the Group’s flagship BNG Contract Area. Shallow structures MJF Production from Well 154, the first of our wells to be drilled horizontally, continues at approximately 600 bopd, using a reduced 7mm choke. Drilling is now complete at Well …
Caspian Sunrise: Interim Results for the Six Months Ended 30 June 2021
Financial highlights During the period Six months ended 30 June 2021 2020 $’m $’m Revenue 10.1 5.0 Gross Profit 7.7 2.4 Operating profit / (loss) 3.9 (0.9) Profit / (loss) before tax 3.4 (1.4) Total assets 124.9 121.9 Cash & cash equivalents 0.3 0.2 Inventories & other current assets 5.6 …
Caspian Sunrise: Strategic, Financial, Operational and Shareholding Update
The Board of Caspian Sunrise is pleased to provide the following strategic, financial and operational update together with details of new shares to be issued and a reorganisation of the shareholding of the Oraziman family. Shareholders are also directed to the responses to shareholder questions, which will be posted later …