Caspian Sunrise Navigates Mixed Results and Expansion

Caspian Sunrise (GB:CASP) has released an update.

Caspian Sunrise PLC reports a mixed financial performance with total revenue up to $18.5 million, yet faced a drop in oil production and gross profit compared to the previous year. The company made notable progress with the conditional $88 million sale of assets and the acquisition of the West Shalva Contract Area, alongside the first commercial charter for the Caspian Explorer. Despite reduced production volumes, the interim results show a transition towards more diversified and potentially profitable operations in oil exploration, production, and trading.

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