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