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Accelerated & expanded drilling programme at BNG
Caspian Sunrise plc is accelerating and expanding its drilling program at the BNG Contract Area, with three additional deep wells planned for the Yelemes Deep structure, targeting Permian dolomite, anhydrite, and Carboniferous limestone reservoirs. The company also announced a new shallow well at the Airshagyl structure to evaluate a palaeochannel. Independent estimates indicate gross oil reserves at Yelemes of 33.3 MMbbl (28.0 MMbbl net to Caspian Sunrise), comprising 28.3 MMbbl C1 reserves and 4.9 MMbbl C2 reserves across the T1, P1, and C2m formations, though these are subject to GKZ approval and further data. Disclaimer*
About this update from Caspian Sunrise Plc
The information contained within this announcement is deemed to constitute inside information as stipulated under the retained EU law version of the Market Abuse Regulation (EU) No. 596/2014 (the "UK MAR") which is part of UK law by virtue of the European Union (Withdrawal) Act 2018. The information is disclosed in accordance with the Company's obligations under Article 17 of the UK MAR. Upon the publication of this announcement, this inside information is now considered to be in the public domain. Caspian Sunrise PLC ("Caspian Sunrise" or the "Group") Accelerated and expanded drilling programme at the BNG Contract Area and Yelemes oil estimates Introduction The board is pleased to update shareholders with encouraging progress at the Yelemes Deep structure on the BNG Contract Area, which has resulted in an accelerated and expanded drilling programme and also with news of a new shallow well to be drilled on BNG's Airshagyl structure. Background The licence at the Yelemes Deep structure was renewed at the end of December 2025 as an appraisal licence with the obligation to drill three deep wells before the end of 2027 to qualify to apply for a 25-year production licence. Deep Well 803 The well, which had an original Planned Total Depth of 4,300 meters and from which oil was produced under test from the Lower Triassic sandstone reservoir at depths of between 3,349 and 3,380 meters, has now been deepened to 3,927 meters. On completion of a further 150 meters drilling casing will be set to a depth of 4,100 meters with the plan to perforate and test on cased-hole basis an interval of approximately 20 to 30 meters within the depth range of 3,927 to 3,977 meters. In addition, to seek to increase hydrocarbon production, the Company plans to perforate and test further intervals with aggregate thicknesses of approximately 8 to 12 meters within the depth range of 3,770 to 3,800 meters. The interval drilled to date is within the Lower Permian P1 section and comprises a mixed evaporite-carbonate succession, including anhydrite, rock salt, gypsum and limestone, with sandstone present in the upper part of the logged section. The planned deeper target interval has not yet been fully penetrated or tested. Accordingly, no flow from that planned target interval has yet been obtained. &nbs...
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