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Pin to quick picksCaspian Sunrise Regulatory News (CASP)

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Deep well update

30 Jan 2023 07:00

RNS Number : 2267O
Caspian Sunrise plc
30 January 2023
 

 

Caspian Sunrise PLC

Deep well update

Introduction

The Board of Caspian Sunrise are pleased to provide the following positive update on Deep Well 802, where oil is flowing at rates between 700 and 900 bopd.

 

Background

Deep Well 802 is the sixth deep well to be drilled at the Company's flagship BNG Contract Area and the second deep well to be drilled on the Yelemes structure. It is also the final deep well the Group is obliged to drill to fulfil the BNG work programme commitments.

 

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 drilled to date.

 

The well had an original planned Total Depth of 5,200 meters targeting oil in the easier to drill Sandstone rather than Carboniferous rock, with an initial target at 4,300 meters below a salt layer between depths of 3,580 and 3,860 meters.

 

Oil was encountered sooner than expected at a depth of approximately 3,900 meters and before the well had been completed, leading to a decision to drill a new side-track from a depth of 2,416 meters to approximately 4,100 meters, targeting the oil at the higher level previously encountered.

 

Current position

Approximately 100 meters remains to be drilled to complete the side-track. Nevertheless, after encountering strong gas flows the well has flowed over a period of 3 days at rates fluctuating between 700 and 900 bopd measured on an open hole basis.

 

Work continues with Baker Hughes to stabilise the well. Once the well is completed it will be perforated with the prospect of potentially higher flow rates.

 

The current production from Deep Well 802 brings the total production from the BNG Contract Area to in excess of 3,000 bopd.

 

Qualified person

 

Mr. Assylbek Umbetov, a member of the Association of Petroleum Engineers, has reviewed and approved the technical disclosures in this announcement.

 

 

Contacts

 

Caspian Sunrise PLC

 

Clive Carver

Chairman +7 727 375 0202

 

WH Ireland, Nominated Adviser & Broker

 

James Joyce +44 (0) 207 220 1666

James Bavister

Andrew de Andrade

 

This announcement has been posted to: www.caspiansunrise.com/investors

 

This announcement contains inside information for the purposes of Article 7 of the UK version of Regulation (EU) No 596/2014 which is part of UK law by virtue of the European Union (Withdrawal) Act 2018, as amended ("MAR"). Upon the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.

 

 

 

 

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
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Date   Source Headline
20th Mar 20127:00 amRNSBNG Farm-out
8th Mar 20127:00 amRNSOperational Update
8th Feb 201212:36 pmRNSOperational Update
23rd Jan 20127:01 amRNSNW Konys Commences Pilot Production
3rd Jan 20127:00 amRNSNW Konys Pilot Production Consent Update
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29th Nov 20117:01 amRNSNK-10 Well Spudded 28 November 2011
22nd Nov 20117:00 amRNSOperational Update
18th Nov 201110:01 amRNSDirector/PDMR Shareholding
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29th Sep 20117:00 amRNSNew debt facility
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27th Jun 201111:21 amRNSResult of AGM
27th Jun 20117:00 amRNSBNG Operational Update
6th Jun 20117:00 amRNSAppointment of Nominated Adviser and Broker
27th May 20117:00 amRNSAnnual Report and Accounts and Notice of AGM
20th May 20117:00 amRNSPreliminary Results
11th May 20117:00 amRNSCancellation of 35 per cent sale of the BNG Asset
3rd Mar 20117:00 amRNSCanamens BNG Funding Announcement
22nd Feb 20117:00 amRNSOperational and Business Update
14th Feb 201110:39 amRNSElemes 135 Well Results
28th Jan 20118:58 amRNSOperations Update
27th Jan 20117:00 amRNSOperational Update
13th Jan 20117:00 amRNSGrant of Options and Directors' Shareholdings
12th Jan 20117:00 amRNSOperational and Business Update
10th Jan 201111:59 amRNSNW Konys Pilot Production Consent Update
7th Jan 20118:50 amRNSYelemes 135 Well Spud
13th Dec 20101:03 pmRNSNK 20 Well Spud
1st Dec 20107:00 amRNSOperational and Business Update
15th Nov 20107:00 amRNSOperational Update
8th Nov 20107:00 amRNSChange of Registered Address & Company Secretary
12th Oct 201010:17 amRNSSale of Ravninnoe Oil LLP Interest
16th Sep 20107:00 amRNSBNG Operational Update
8th Sep 20107:00 amRNSNotice of Results
10th Aug 20109:00 amRNSOperational Update
3rd Aug 20107:00 amRNSGalaz update
14th Jul 20107:00 amRNSRavninnoe and BNG Operations update
7th Jul 20107:00 amRNSHolding(s) in Company

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