Member Info for Divermike

Thanks BM, will adjust accordingly, if any one speaks to Clive, tell him to give us a ring, Ill let him know what's going on

Sorry a bit got chopped off Airshagyl Deeps

. Preparatory work continues with a view to selecting a drilling contractor before the end of Q1 2020.RNS 10/2/2020

A10 New well planned

Happy Reading BM 8-))

Galaz field:- Sold for $100m, Of $100 million disclosed, approximately $50.4 million relates to the equity of Galaz & Co LLP, in which Roxi has a 34.22 percent interest ($17.24m) and approximately $49.6 million relates to the assumption of shareholder loans owed by Galaz & Co LLP, of which approximately $11.3 million is owed to Roxi. In aggregate the share of the $100 million disclosed attributable to Roxi is expected to be some $28 million. ($17.24m+$11.3m) Pre TAX !! …. This section needs clarifying as it has minor conflicts notably 2022 accounts

Related party transactions:- Here again there seems to be a misinformed view that we have favoured the sellers when the opposite is very clearly the case.

In particular:· Shareholders with longer memories will recall that in 2015 we sold Galaz, which was acquired as part of the Eragon acquisition in 2008 including BNG, for $100 million.

· In 2020 the Caspian Explorer drilling vessel was acquired for $3.2 million where it's resale value today is many times greater and the replacement cost is believed to be some $300 million.

· At Block 8 we will only pay (For an asset with the potential to be world class) from future production at the rate of $5 per barrel and with the price capped at $60 million.

· With West Shalva it is only the first $5 million that would be payable, should there be no oil, It is therefore only at 3A Best that we have yet to come out on the right side of the deal and as set out above that remains a work in progress. The advantage of related party transactions is that we fully understand and can check what we are buying. Given their existing shareholding in the Group there is no commercial purpose for the sellers seeking poor terms, even if under the regulatory framework it were possible. For us related party transactions have worked very well and we should not be afraid to do others where the situation merits it.

Caspian Explorer:- Prosperity Petroleum, a UAE registered holding company for the CE, All cost written down in previous financial statements so that its carrying value now $1.7m, Originally bought for $25m, issue of 160,256,410 shares (Then 12p per share) Approx $300m replacement cost, Discussions are at an advanced stage for up to three separate charters in 2026. contract with ENI, the charter generating revenue of approximately $14.3 million and a gross profit of approximately $3.8 million.

Mooring

The Caspian Explorer has recently moved to the port of Ersai when not on charter resulting in significant cost savings.

CTS LLP:- Caspian Technical Services, Caspian Sunrise wholly owned drilling company, CTS owns 4 rigs, being one G50, two G40's, and a G20 workover rig, with the number indicating the maximum drill string weight the rig can support. Negotiations underway to acquire a G70 rig

Mineral extraction: - Mining possible manganese extraction in the East of Kazakhstan, in the case of the project we are reviewing could produce income from day one, Jun 2024, An asset has been identified and we are in the evaluation stage with the intention, if what we believe is confirmed under an internal and external due diligence process, to seek to conclude its acquisition later this financial year. The United States International Trade Administration also lists Kazakhstan as having the world's largest reserves of uranium and extensive coal, gold and manganese reserves. Kazakhstan is one of the world's leading minerals and rare earth producers and it has been a long standing ambition for the Group to participate fully in the development of these natural resources which come without many of the issues currently affecting oil production in Kazakhstan. Other projects being assessed include gold, copper, zinc and titanium. A key determinant in the assessment of all these projects is the speed at which they become cashflow positive.The Group is reviewing a number of potential mining acquisitions with further announcements expected following the resumption in trading of the Group's shares. (RNS Oct 2025)

Wind farms: - No details, wind farm project noted in the 2021 financial statement.

Other:-

Trading licence:- Caspian Sunrise holds a coveted oil trading licence under the new rules introduced in 2023. Under this heading we purchase crude oil and fund its refining, selling the resultant oil products to third parties. Caspian Sunrise adopted a relatively low risk approach to oil trading having formed a 70:30 partnership with an established trader with ourselves being the larger party and with our 30% partner providing the required funding.

Revenue from oil trading in 2024 was $15.9 million (2023: $10.3 million). Gross profit from oil trading was $6.2 million (2023: $4.9 million)

Tau-Cen mine:- Acquired 22/12/2025 RNS, The principal minerals of interest at Tau-Cen are titanium, zirconium and gold. Additionally,rare earth elements (REE) are bound within the zirconium concentrate in associated monazite and xenotime.

Background

The Tau-Cen asset is located in the Pavlodar region approximately 110 km from the city of Ekibastuz, in northeast Kazakhstan, an industrially developed area with established mining, metallurgical, and chemical industries. The concentration of total rare metals in the zirconium concentrate is 0.4%. The monazite contains the following distribution of rare earth elements: Lanthanum oxide 19%, Praseodymium 2.65%, Neodymium 11%, Samarium1.74%, Europium 0.2%, Gadolinium 1.33%, Yttrium 2%. These will all be confirmed by the follow-up exploration plan over the next few years.

Licence and current work programme

The Tau-Cen licences extend over an area of 235.8 sq km with a total of 85 separate blocks covered by two separate six year exploration licences running until 2031.An exploration work plan has been approved with the Kazakh authorities with topographic surveys and magnetic exploration underway.

Acquisition termsThe purchase consideration as set out in the Acquisition Agreement is $0.7 million comprising $0.35 million to be paid in cash and $0.35 million to be satisfied by the issue of 5,223,881 Caspian Sunrise shares at 5p per share (Acquisition Shares) to Amirbek Oraziman who is a member of the Oraziman Family Concert Party.The shares in Tau-Cen are being acquired debt free.Tau-Cen had a loss of approximately £9,000 in the last 12 months.

History

The Tau-Cen asset was first explored during the Soviet era when more than 180 drill holes were drilled with an average depth of 7 meters and a maximum depth of 20 meters where an average thickness of 2.6 meters of mineral enrichment was found. At that time beryllium and the rare earth metals scandium were also detected.

Additional fields may or may not be connected to CASP, needs clarification:-

Nsanovskoye Field:- The Nsanovskoye oil and gas field is a producing field in the Mangystau Oblast of Kazakhstan. It is also known by the name Yelemes West

Tolkyn Field:- Tolkyn Field is an oil and gas field in Kazakhstan, located in the Mangystau Province, near the border with the Atyrau region. Discovered in 2001, the field is an operating asset that has been subject to legal and operational disputes, particularly in 2010 when Kazakhstan's government cancelled contracts related to it

Saztobe Field:- The Saztobe field is an operating oil and gas field in Kazakhstan, located in the Mangystau and Aktobe regions. It is part of a larger block of fields that include Yelemes

Tasym and Bekbolat Field:- In Kazakhstan, the Bekbolat Field is an oil and gas resource, while the Tasym Field is a geological feature analogous to it. The two are referenced in connection with Roxi Petroleum, an oil and gas company that is now known as Caspian Sunrise PLC. In 2013, Roxi Petroleum (now Caspian Sunrise PLC) detailed its 3D seismic work on its South Yelemes asset. This research revealed karstified structures directly analogous to the reservoir of the Bekbolat field.

West Shalva area:- 24.89sq Km in the Zhetybay Steppe oil producing region Mangyshlak, The West Shalva prospect is partially located in Block XXXVII-12, but straddles the boundary with adjacent blocks. The source rock for the West Shalva prospect is considered to be Triassic marine shale as is understood to be the case in the nearby Shalva and Zhalganoy fields.Appraisal licence until 2029 $15m to be paid in 3 tranches (Mixture shares/cash), owned by CS energy, CS Energy is wholly the surface. The West Shalva prospect has potential reservoirs of Jurassic and Triassic age. West Shalva is expected to be 37-38 API with 20-30 wax, owned by Altynbek Bolatzhan. In 2008 a 3D seismic survey was undertaken on the contract area, which identified the West Shalva structure. In June 2022 oil was detected spilling to the surface, the Group's operational management believes that up to 80 million barrels might be recoverable1. The West Shalva Contract Area exploration licence was renewed in 2023 for a six year period. The current work programme commitment is for one well to a depth of 2,660 meters targeting at least two intervals in the Triassic at an estimated cost of US$3 million and for which the required 3D seismic information is readily available. We are now proceeding with the re-registration of CS Energy LLP, which is expected to take up to a further two months to finalise and following which we could formally complete the acquisition and issue the 99,206,349 Ordinary Shares ("Consideration Shares"), due under the first tranche of the consideration (see below).RNS 21/02/2025

https://wp-caspiansunrise-2020.s3.eu-west-2.amazonaws.com/media/2024/04/Caspian-Sunrise-West-Shelva-PR-Audit-10-April_Final-1.pdf

WSH-P1 :- Spudded Oct 25, total depth 3000m, 1st target 2300m Jurassic Sandstone, 2nd target 2600m Triassic Limestone, 2 months to drill, Drilling has reached a depth of 827 meters without incident with casing set to a depth of 180 meters 31 Oct 2025 The well is expected to reach its Total Depth in December with testing planned for January 2026.

WSH-4:- Drilled 1977 depth 3500m oil detected at 1033m 3 other intervals not tested, well outside the Triassic shale West Shalva structure. Well abandoned as non productive 1/12/25

Block 8 Deeps:- 2823sq Km contract area, 3 identified structures, cost $60m from future production at $5 per barrel waiting for licence, owned by Procyon investments (Member of the Oraziman family) The Block 8 licence was previously owned by LG International the Korean conglomerate, who in 2006 started to acquire 3D seismic data over approximately 456 sq km, in Sep 2011, LG-GeoPark abandoned plans for a $10m drill, quoting regulatory delays "The Sholkara prospect has an unrisked mean oil resource estimate of 100-400 million bbl." The resumption of production from block 8 will trigger the repayment of the $3.1m loan advanced to allow drilling

P-1:- Drilled 2016 Depth 4203m, Sholkara structure licence to 2027, testing 3m interval at 3391m Jul 2025, flowed at 270 Bopd, Water issues requires a new sidetrack starting Nov 2025

P-2:- Drilled 2019 Depth 3449m Sholkara structure Licence to 2027 Production commenced Jun 2025 now flowing up to 846 Bopd on a 4mm choke Oct 2025

AKD-4:- Reached target depth 3922m awaiting testing Jul 2024 Akkuduk structure, Licence not yet renewed due to Kaz authorities Oct 2025

T-2D:- Reached 3408m target 3500m awaiting testing Jul 2024 Toresai structure Licence not renewed Sep 2024

Two wells were drilled in 2022 and 2023 to depths of 3,922 and 3,408 meters respectively on the Akkaduk structure. As noted elsewhere, testing of these wells has not been permitted during the very extended period during which the licence renewal applications are being considered by the Kazakh regulatory authorities.

The required consent from the Kazakh Ministry of Energy has been received with completion now dependent on the approval of the Kazakh Antimonopoly Authority.31 Oct 2025

Airshagyl deeps:- Upper Devonian/Lower Permian 58sqKm Salt layer typically 3700m – 4000m, Appraisal licence until August 2025 now extended for a further 2 years, 25 year full production licence obtained 2025

A1:- Maps only

A2:- No mention on any maps (Possibly old Soviet era well)

A3:- Maps only

A4:- Maps only

A5:- Spud Jul 2014, Stuck pipe removal partially successful , 63m interval flowed at 3800 Bopd 19mm choke for 15 days Dec 2017, flowed at 1500 Bopd 12mm choke Feb 2019 for 40 days. New sidetrack from 3769m to 4405m required rig now removed Jul 2024, Attempts to remove 400m of stuck pipe have to date not proved successful and a new side track is planned in 2026

A6- Spud Nov 2015 TD 4750m, stopped at 4528m, targeting middle and Lower Carboniferous, From the analysis of wireline logging , gross oil-bearing intervals totalling 127 meters have been identified. These are in two intervals, the first of 72 meters between depths of 4,313 meters and 4,385 meters. The second is of 55 meters between depths of 4,450 and 4,505 meters, A 54m oil bearing interval perforated from a depth of 4450m, perforation needs workover RNS 10/1/2017, Analysis of mud and wireline logs has shown the presence of a hydrocarbon bearing reservoir with a vertical column potentially in excess of 100 meters, In April 2017 the top 60 meters of the 100-meter plus interval were successfully perforated using a different leading international contractor. A chemical treatment at the well is underway 1/12/25 currently seeking to bring well into production RNS 3/12/25

A7- Spud Dec 2021 TD 5300, Carboniferous and Devonian structures, Paused at 2150m (Dec 2022) new TD 4750m 31/10/2023, new TD 5300 16/2/2024 to be continued to 5300m Q1 2024 interval of interest at 4000m, G70 rig required, Subject to rig availability, the first well to be re-worked in 2026 is planned to be Deep Well A7 (RNS Oct 2025)

A8- Spud Nov 2018 TD 5300, Targeting, 3 oil bearing intervals, 52.5 meters is of porous oil-bearing rock from a depth of 4,342 meters. A mixture of oil, gas, water and drilling mud flowed to the surface. With the top of the oil-bearing interval at a depth of 4,346 meters and the bottom of the most recent core sample at a depth of 4,456 meters the oil-bearing interval now extends to 110 meters. The pressure in the well has remained strong throughout the process. RNS 27/11/2019 Following acid treatment the well flowed for approximately seven hours, producing at the rate of approximately 1,500 bopd. The flow ended with the well becoming blocked with excess drilling fluid originally introduced during the drilling phase. RNS Dec 2019 Now abandoned ?

A9 New well planned to find perimeter of Airshagyl TD 5300m targeting Jurassic prospect, As previously announced the next deep well there is expected to be Deep Well A9, which, if successful, would extend the perimeter of the Airshagyl structure.Our intention is to spud Deep Well A9 in the first half of 2020. Preparatory

As always please correct me with an RNS date, if Im wrong with anything

Yelemes Deeps:- Upper Devonian/Lower Permian 36sqKm Salt layer typically 3000m – 3500m Appraisal licence until August 2027, 25 year full production licence obtained May 2025

801:- Sinopec drill, spuded Dec 2014 Drilled to 4950m/5050m? Jul 2015, abandoned not commercial Jul 2024

802:- Spud 2022, planned TD of 5200m (Easy Sandstone) salt layer 3580m-3860m The well is being drilled close the site of a Soviet era blowout and our advisers have provided us with the highest estimate of success for any of our BNG deep wells, struck oil unexpectedly (at 3,900m) above the targeted formation (expected at 4,300m). RNS 30/1/23 The well is now being sidetracked from 2416m to a depth of 4,100m with a further 100m to be drilled to reach that depth. Caspian Sunrise has further announced that the well has flowed for three days at rates fluctuating from 700- 900 bopd on an open hole basis. Approximately 500 meters of the stuck pipe has now been successfully removed from the well leaving a further 3,400 meters still to be removed.", CASP looking for partners

803:- Spud Dec 2023, TD 4500m, Primary target 3950m, secondary 4200m oil detected over 60m 3360m-3420m, above salt layer testing underway of 15m, now flowing at 500bopds Sep 2024, work paused, waiting for licence, in Q4 2024 the oil pressure had increased with oil of good quality seeping to the surface. Estimation licence now extended for a further 2 years allowing development work to resume, a further submission may be made for a 25 year production licence RNS 3/12/25

804:- New well planned

Okies

Ocelot, I admire your enthusiasm for ALBA and why not after all, I assume you have put a significant amount of money in here and are currently sitting on a large loss, however I must point out just how slow and limited ALBA is with their refining process, if a large deposit were to be blasted in the New Year, from previous experience, it would be many many weeks if not months before any results were disclosed, correct me if im wrong, but are we still not waiting for the results from the last lot of material sent for refining?

PS:- Keep up the enthusiasm, this share needs it

Clive !!!!!! where is my Xmas present? Ive been good all year 8-((

Brent, I think you have wound Liarski up ...... BOOM!!!

That didnt make sense, in true CASP style here is another one ......... Galaz field:- Sold for $100m, Of $100 million disclosed, approximately $50.4 million relates to the equity of Galaz & Co LLP, in which Roxi has a 34.22 percent interest ($17.24m) and approximately $49.6 million relates to the assumption of shareholder loans owed by Galaz & Co LLP, of which approximately $11.3 million is owed to Roxi. In aggregate the share of the $100 million disclosed attributable to Roxi is expected to be some $28 million. ($17.24m+$11.3m) …. This section needs clarifying as it has minor conflicts notably 2022 accounts

KONIL on the ADVFN board, listen to SOMM ............................. Galaz field:- Sold for $100m, Of million disclosed the $100 approximately $50.4 million relates to the equity of Galaz & Co LLP, in which Roxi has a 34.22 percent interest ($17.24m) and approximately $49.6 million relates to the assumption of shareholder loans owed by Galaz & Co LLP, of which approximately $11.3 million is owed to Roxi. In aggregate the share of the $100 million disclosed attributable to Roxi is expected to be some $28 million. ($17.24m+$11.3m) …. This section needs clarifying as it has minor conflicts notably 2022 accounts

Howard, I have also found that ALBA don't answer awkward question, if you read some RNSs about the waste tip, you will eventually come up with the figures of 31tonnes processed and 30g of Gold recovered, this on its own should be enough given the "Mark up" however someone threw in a spanner doubting the waste tip ownership

"NOVATEQ-GROUP"​ LLP has had fingers in the WS pie somewhere, more research required