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Caspian Sunrise PLC reported initial production from Deep Well A8 at its BNG Contract Area, with production from the first of three planned intervals being approximately 120 bopd for several days. The company also reported aggregate production for the year ended 31 December 2021 was 533,857 barrels at an average rate of 1,462 bopd (compared to 545,667 barrels at 1,495 bopd in 2020). Additionally, approximately 65,000 barrels are expected for sale in January 2022.
| Date | 25 Jan 2022 |
| Time | 07:48:46 |
| Category | Corporate updates |
| ID | 5485Z |
Caspian Sunrise PLC
("Caspian Sunrise" or the "Company")
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 for several days. Work continues to establish the full potential of this well.
Production levels
Aggregate production for the year ended 31 December 2021 was 533,857 barrels at the average rate of 1,462 bopd (2020: 545,667 barrels at the rate of 1,495 bopd).
Production for sale in January 2022 is expected to be approximately 65,000 barrels.
Comment:
Clive Carver, Chairman said "The early results from Deep Well A8 are encouraging. With international oil prices in excess of $85 per barrel the Company is set for a good year."
Contacts:
Caspian Sunrise PLC
Clive Carver
Chairman +7 727 375 0202
WH Ireland, Nominated Adviser & Broker
James Joyce +44 (0) 207 220 1666
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.