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An announcement from Caspian Sunrise ( (GB:CASP) ) is now available.
Caspian Sunrise PLC has made significant progress in its corporate transactions, including the sale of the BNG Contract Area’s shallow structures for $88 million, with $14 million already received. The company is also advancing its acquisition of the West Shalva Contract Area, expecting to drill a well in H1 2025, and is working on securing a new licence for Block 8. Additionally, a conditional agreement for a $72.5 million investment to develop BNG’s deep structures has been reached. The company’s production in 2024 was slightly lower than the previous year, and future oil trading will depend on production from the BNG deep structures and other areas. The Caspian Explorer remains a valuable asset, despite ENI exiting its Kazakh operations, and discussions for future charters are ongoing.
More about Caspian Sunrise
Caspian Sunrise PLC operates in the oil and gas industry, focusing on exploration and production activities. The company is involved in corporate transactions and operational activities related to various contract areas, including BNG, Block 8, and West Shalva, with a market focus on developing both shallow and deep oil structures.
YTD Price Performance: 9.84%
Average Trading Volume: 475,592
Technical Sentiment Consensus Rating: Hold
Current Market Cap: £75.54M
Learn more about CASP stock on TipRanks’ Stock Analysis page.