Caspian Sunrise (GB:CASP) has released an update.
Caspian Sunrise PLC has secured an extension of its appraisal licence for up to 12 more months, facilitating further assessment and testing of the Airshagyl and Yelemes Deep structures within the BNG Contract Area, including Deep Well 803, where oil has been detected. Initial testing of Well 803 indicates a production potential of around 500 barrels of oil per day, with further tests planned following the licence extension. In addition, an update on the proposed sale of the MJF & South Yelemes structures will be announced following the end of an exclusivity period on 31 August 2024.
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