Caspian Sunrise plc BNG Operational Update & March Production Numbers (8137I)
April 06 2020 - 1:00AM
UK Regulatory
TIDMCASP
RNS Number : 8137I
Caspian Sunrise plc
06 April 2020
Caspian Sunrise PLC
("Caspian Sunrise" or the "Company")
BNG Operational update & March production numbers
Introduction
The Board of Caspian Sunrise is pleased to announce New Well
153, the second of the planned infill wells on the MJF structure,
has reached its Total Depth of 2,500 meters.
Background
New Well 153 was spudded in mid-February 2020, and on 2 April
2020, reached its Total Depth. Wireline logging has been completed
and Baker Hughes are set to complete the final cementing. After
approximately 7 days to allow the cement to fully dry we intend to
perforate an interval to be determined by analysis of the logging
data.
Our expectation is for a similar result to New Well 150, which
commenced production in March 2020.
On the basis that New Well 153 meets our expectations the
production from the shallow structures at BNG would be comfortably
in excess of 2,000 bopd.
March 2020 oil production figures
The total number of barrels produced in March 2020, was 40,277
(February 2020, 38,626) at an average daily rate of 1,299 bopd
(February 2020, 1,332).
During March the loss of production from Deep Well A5 was
effectively replaced by less than four days production from New
Well 150.
Ends
Clive Carver, executive Chairman said:
"Drilling shallow wells on the MJF structure is generally a
straight forward matter, as has been the case with New Well
153.
We look forward to bringing the well into production in the next
couple of weeks."
Contacts:
Caspian Sunrise PLC
Clive Carver
Executive Chairman +7 727 375 0202
WH Ireland, Nominated Adviser & Broker
James Joyce +44 (0) 207 220 1666
James Sinclair-Ford
Qualified person
Mr. Nurlybek Ospanov, Caspian Sunrise PLC's Chief Geologist /
Technical Director who is a member of the Society of Petroleum
Engineers ("SPE"), 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.
This information is provided by RNS, the news service of the
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END
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