Caspian Sunrise (GB:CASP) has released an update.
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Caspian Sunrise PLC has announced the conditional sale of its shallow MJF and South Yelemes Structures in Kazakhstan for approximately $88 million to Absolute Resources LLP. The disposal includes the transfer of the entire issued share capital of a newly established Group entity to Absolute Resources, with the Group retaining ownership of other key areas of the BNG Contract Area. The transaction is aimed at reallocating resources to enhance long-term shareholder value and is subject to shareholder approval and other conditions set to be satisfied by 31 October 2024.
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