Last checked at 16 Apr 2021 07:00
Caspian Sunrise PLC
("Caspian Sunrise" or the "Company")
Increase in the price for oil sold to the domestic market
The Board of Caspian Sunrise are pleased to announce that it has been informed that the price for oil sold to the domestic market from its flagship BNG Contract Area has been increased to approximately $12.4 per barrel.
While this still lags far behind the international price it is approximately double the price received for most of the past 12 months and as such will be a significant boost for the Company's finances.
Comment
Clive Carver, non-executive chairman commented.
"This news is very welcome and we hope it marks the beginning of the closing of the gap between international and domestic prices to levels seen before Covid-19."
Contacts:
Caspian Sunrise PLC
Clive Carver
Chairman +7 727 375 0202
WH Ireland, Nominated Adviser & Broker
James Joyce +44 (0) 207 220 1666
James Sinclair-Ford
Qualified person
Mr. Asslybek Umbetov, a member Association of Petroleum Engineers, has reviewed and approved the technical disclosures in this announcement.
This announcement has been posted to:
www.caspiansunrise.com/investors
The information contained within this announcement is deemed by the Company to constitute inside information under the Market Abuse Regulation (EU) No. 596/2014.