Caspian Sunrise Plc (LON:CASP) shares dropped in Thursday’s early deals as the company reported the impact of “unusually cold and windy weather” in Kazakhstan in late December.
The company said it moved to twelve-hour working days, from twenty-four hours, and as a result some activities have been deferred.
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Resumption of a 90-day flow test on the Deep Well A5 was due to occur before year-end and it is now expected later in January.
The spudding of the A8 well and the retesting of the shallow well 146 have also been delayed.
"Weather delays at this time of year are not unusual,” said Clive Carver, Caspian Sunrise executive chairman. “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.
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“We look forward to updating the market with the outcomes of the various work streams at our active Deep and Shallow wells"
Caspian Sunrise shares were down 0.73p or 6.7%, trading at 10.15p.