Caspian Sunrise plc
19 August 2026
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")
Operations, acquisition, financial reporting and share trading updates
Introduction
The Board of Caspian Sunrise is pleased to update shareholders with news of progress at its BNG, Block 8 and West Shalva oilfields; with the acquisition of Tau-Cen; and with news on the timing of the publication of the 2025 financial statements, following which the Board expects the temporary suspension in the trading of its shares to be lifted.
Oil & gas
All four of the Groups rigs are currently in use.
BNG
At Deep Well 803 on the Group's flagship BNG Contract Area's Yelemes Deep structure testing is underway at the Lower Permian P1f (Filippovian) horizon where the target intervals were selected based on the interpretation of geological and geophysical data acquired during earlier drilling.
A 10 meter interval at depths between 4,071 and 4,081 meters has been perforated and a further 12 meter interval at depths between 3,911.5 and 3,964 meters will be perforated and both intervals tested in the coming days, and the results announced. After testing the rig will move to spud Deep Well 701.
At Deep Well 707, which has a planned total depth of 3,500 meters, drilling has reached a depth of approximately 1,800 meters with nine inch casing being set. Drilling is expected to reach the planned total depth early in Q4 2026.
The next well to be drilled on the Yelemes Deep structure is Deep Well 701, with a planned total depth of 5,000 meters and with drilling expected to be completed by the end of the year.
Block 8
The P2 Well on the Sholkara structure is producing at the rate of approximately 150 bopd.
Further drilling at Block 8 is on hold pending rig availability.
West Shalva
At West Shalva work continues to improve flow rates where the oil produced to date has a higher than expected paraffin content restricting its natural flow. A sucker-rod pump has been installed at surface level to stimulate increasing flow rates and currently the well is producing at the rate of 50 bopd.
Oil trading
The oil production at Block 8 and West Shalva has allowed a resumption in oil trading, which in recent years has been a significant contributor to Group profits.
Tau-Cen
In December 2025 we announced the conditional acquisition of Tau-Cen LLP (Tau-Cen) for a consideration of $0.7 million, where the initial focus is titanium but then also later gold and zirconium.
We are pleased to confirm that the regulatory approvals for the Tau-Cen acquisition have been received and accordingly we are moving to formally complete the acquisition.
Publication of the 2025 audited financial statements
We now have sufficient access to the financial information on the MJF and South Yelemes structures to be able to satisfactorily progress the 2025 audited financial statements towards finalisation, which we expect to publish in the coming weeks, and following which the temporary suspension in the trading of the Company's shares is expected to be lifted.
Contacts:
|
Zeus James Joyce James Bavister Andrew de Andrade |
+44 (0) 203 829 5000 |
Qualified Person
Ms Danara Junussova, a member of the Society of Petroleum Engineers, has reviewed and approved the technical disclosures in this announcement.
This announcement has been posted to:
www.caspiansunrise.com/investors
The person responsible for arranging the release of this announcement on behalf of the Company is Clive Carver, Chairman of the Company.
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