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Last checked at 
23 Dec 2021 08:35
Caspian Sunrise PLC
("Caspian Sunrise" or the "Company")
Operational update
The Board of Caspian Sunrise is pleased to provide the following update:
South Yelemes
We have now received the 25 year production licence for the South Yelemes structure.
This allows existing wells to be re-opened, and the majority of production from the structure to be sold at international rather than domestic prices.
The structure lends itself to use of the horizontal drilling approach that is working so well on the MJF structure.
The South Yelemes production licence upgrade should also allow us to add to our proven reserves.
Production levels
The Board is also pleased to report that production from Well 153, which commenced production earlier this week, has increased to approximately 1,000 bopd. Taken together with the production expected from the existing South Yelemes wells the production capacity of the shallow structures on the BNG Contract Area is now approximately 3,000 bopd.
Contacts:
Caspian Sunrise PLC
Clive Carver
Chairman +7 727 375 0202
WH Ireland, Nominated Adviser & Broker
James Joyce +44 (0) 207 220 1666
Andrew de Andrade
Qualified person
Mr. Assylbek 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.
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