Caspian Sunrise (GB:CASP) has released an update.
Caspian Sunrise plc has announced an agreement with Absolute Resources LLP for the exclusive negotiation rights to sell the shallow structures of the BNG Contract Area for $83 million, pending regulatory and shareholder approval. The sale would allow Caspian Sunrise to focus on more valuable deep structures and other projects, potentially enhancing shareholder value. The deal, expected to complete by 8 August 2024, includes the MJF and South Yelemes structures that are significant contributors to the company’s production.
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