Caspian Sunrise (GB:CASP) has released an update.
Caspian Sunrise PLC has agreed to sell the shallow MJF and South Yelemes structures in the BNG Contract Area of Kazakhstan to Absolute Resources LLP for approximately $88 million in cash, with an additional $12 million advance payment expected shortly. The deep structures within the area are not included in the sale, which is subject to shareholder approval at a General Meeting set for September 26, 2024. The company believes the disposal will enable better use of resources to enhance long-term shareholder value.
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