Operational update

RNS Number : 6210W

Caspian Sunrise plc

23 December 2021

 

Caspian Sunrise PLC

("Caspian Sunrise" or the "Company")

Operational update

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.

The structure lends itself to use of the horizontal drilling approach that is working so well on the MJF structure.

The South Yelemes production licence upgrade should also allow us to add to our proven reserves.

Production levels

The Board is also pleased to report that production from Well 153, which commenced production earlier this week, has increased to approximately 1,000 bopd.  Taken together with the production expected from the existing South Yelemes wells the production capacity of the shallow structures on the BNG Contract Area is now approximately 3,000 bopd.

Contacts:

Caspian Sunrise PLC

Clive Carver

Chairman  [phone]

WH Ireland, Nominated Adviser & Broker

James Joyce  [phone]

Andrew de Andrade

Qualified person

Mr. Assylbek Umbetov, a member Association of Petroleum Engineers, has reviewed and approved the technical disclosures in this announcement.

This announcement has been posted to:

www.caspiansunrise.com/investors

The information contained within this announcement is deemed by the Company to constitute inside information under the Market Abuse Regulation (EU) No. 596/2014.

 

END

 

 

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