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Caspian Sunrise (LON:CASP)

Caspian Sunrise (LON:CASP)


Share Price
8.80 p
Change
0 (0.00 %)
Market Cap
£146.93 m
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Caspian Sunrise RNS Release

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

+7 727 375 0202

 

 

WH Ireland, Nominated Adviser & Broker

 

James Joyce

Jessica Cave

James Sinclair-Ford

 

+44 (0) 207 220 1666

Yellow Jersey PR

Tim Thompson

Henry Wilkinson

+44 (0) 203 735 8825

 

 

 

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.

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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