Operational Update

RNS Number : 9044A

Caspian Sunrise plc

04 January 2018

 

Caspian Sunrise PLC ("Caspian Sunrise" or the "Company")

BNG Operational Update

Towards the end of December 2017, the Company encountered a prolonged period of unusually cold and windy weather at BNG, which resulted in moving from a 24-hour working day to a 12-hour working day, and during which much of the planned well-related activities were deferred.

Accordingly, those events expected to occur before the year-end, including the resumption of the 90-day flow test at Deep Well A5, spudding of A8 and retesting of shallow well 146, are now expected to take place in January 2018.

Clive Carver, Executive Chairman of Caspian Sunrise PLC, commented:

"Weather delays at this time of year are not unusual.  These coupled with the traditional Kazakh holiday period led us to decide to take the prudent approach and postpone the drilling activities previously expected in the second half of December.

We look forward to updating the market with the outcomes of the various work streams at our active Deep and Shallow wells"

Caspian Sunrise PLC
Clive Carver Executive Chairman	[phone]
WH Ireland, Nominated Adviser & Broker
James Joyce Jessica Cave James Sinclair-Ford	[phone]
Yellow Jersey PR Tim Thompson Henry Wilkinson	[phone]

Qualified Person

Mr. NurlybekOspanov, Caspian Sunrise PLC's Chief Geologist / Technical Director who is a member of the Society of Petroleum Engineers ("SPE"), 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.

 

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