Business
BNG Update and December Production
BNG Update and December Production.
About this update from Caspian Sunrise Plc
[{"type":"text","content":"\n \nRNS Number : 1746Z Caspian Sunrise plc 08 January 2020 \n\nCaspian Sunrise PLC\n \n(\"Caspian Sunrise\" or the \"Company\")\n \nBNG Update and December Production\n \nThe Board of Caspian Sunrise is pleased to update the market with developments at its BNG Contract Area, including further progress at Deep Well A5, together with the December 2019 production numbers.\n \nDeep Well A5\n \nAs previously announced, after perforation of a 63 meter interval between 4,331 meters and 4,394 meters, we have started to produce oil from Deep Well A5.\n \nThe well started flowing without artificial stimulation on 31 December 2019 and has flowed consistently since then, now 10 days.\n \nThe oil is light oil of high quality with an API of 37 degrees. As expected the quantities of drilling mud recovered with the oil are declining.\n \nThe pressure in the well remains strong and is being maintained at a near constant level by adjusting the choke size.\n \nThe adjustments to the choke size impact the quantity of oil recovered and it may be a while yet before we finalise the appropriate choke size to maximise the commercial benefits of the well. However, based on activity to date, the Company's management continue to believe the well should be capable of producing at least 1,500 bopd.\n \nWe have already started to sell oil produced from Deep Well A5 at domestic prices, as allowed under the terms of the BNG licence.\n \nThe rig used to drill Deep Well A5 has now been reassigned to assist with shallow well drilling on the MJF structure.\n \nOther Deep Wells\n \nDeep Wells A8, 801 & A6\n \nWe are waiting on the results of a chemical analysis to determine the best way to stimulate these wells using high pressure acid treatments. In particular, we are evaluating using a different acid designed to directly attack the barite mud used to control the wells during the high pressure drilling phase rather than acid used to date, which may be better suited to attacking rock.\n \nOnce the results of this analysis are received these wells will receive the appropriate acid treatment.\n \nDeep Wells A9\n \nFollowing the success at Deep Well A5 we are keen to press on with further deep drilling on the Airshagyl structure. The next deep well there is...