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 PLC: February 2020 Production Numbers & an Operational Summary
The Board of Caspian Sunrise is pleased to update the market with February 2020 production numbers and an Operational Summary. February 2020 oil production figures The total number of barrels produced in February 2020, was 38,626 (January 2020, 44,169) at a daily rate of 1,332 bopd (January 2020, 1,425). The decline in daily production resulted principally …
Caspian Sunrise: MJF Structure Moves to Production License
The Board is delighted to announce receipt of the much anticipated MJF license upgrade. Accordingly, the majority of oil produced from the MJF structure on the BNG Contract Area may now be sold by reference to international rather than domestic prices. Background Under the licencing system in Kazakhstan, oil produced …
Caspian Sunrise: MJF Licence Update
The Board of Caspian Sunrise is pleased to provide the following operational update at its flagship BNG asset. The board of Caspian Sunrise are pleased to confirm that the signed protocol from the Ministry of Energy has been received. The protocol is the final major hurdle in achieving full export …
Caspian Sunrise: Deep Well A8 – Interval Extends Further than Previously Detected
The Board of Caspian Sunrise is pleased to provide the following operational update at its flagship BNG asset. Deep Wells Deep Well A8 On 7 June 2019, we announced the interval of interest extends 110 meters from a depth of 4,346 meters. Since that date we have drilled to a …
Caspian Sunrise: Third Airshagyl Well Contains Oil – Potential To Extend Over 58km2 of the Stucture
The Board of Caspian Sunrise is pleased to update shareholders with developments at its flagship BNG Contract Area. Deep Wells A8 Deep Well A8 was spudded on November 2018 with a target Total Depth of 5,300 meters. Drilling has now reached a depth of 4,391 meters, which is beyond the …
Caspian Sunrise: Deep Well 801 – 121m of Aggregate Potential Intervals
As previously announced our plan to bring Deep Well 801 into production was by drilling a side track of between 450 – 500 meters from a starting depth of 4,501 meters. Having identified potential oil bearing (net-pay) intervals covering in aggregate 121 meters so far during the drilling of the …