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The latest update is out from Caspian Sunrise ( (GB:CASP) ).
Caspian Sunrise PLC has announced the commencement of production and testing at the Block 8 Contract Area, with production at Deep Well P2 starting at approximately 250 barrels of oil per day. The acquisition of Block 8 is nearing completion, and the proceeds from oil sales will be used to pay down acquisition-related loans. This development will support the company’s ongoing oil trading activities, especially after the planned disposal of certain shallow structures in the BNG area.
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 acquiring and developing oil fields, with a market focus on expanding its production capabilities and trading activities.
Average Trading Volume: 828,646
Technical Sentiment Signal: Sell
Current Market Cap: £49.44M
For detailed information about CASP stock, go to TipRanks’ Stock Analysis page.