Caspian Sunrise Advances with West Shalva Acquisition

Caspian Sunrise (GB:CASP) has released an update.

Caspian Sunrise is set to complete its acquisition of the West Shalva Contract Area, a promising oil site in Kazakhstan, after receiving necessary approval from local authorities. The company plans to drill an exploratory well early next year, potentially starting production by mid-2025, with expectations of lower risk compared to other sites. The acquisition involves issuing new shares and revenue agreements, potentially increasing the Concert Party’s stake in the company.

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