Caspian Sunrise plc BNG operational update (1059A)
24 May 2019 - 4:52PM
UK Regulatory
TIDMCASP
RNS Number : 1059A
Caspian Sunrise plc
24 May 2019
Caspian Sunrise PLC
("Caspian Sunrise" or the "Company")
BNG operational update
Introduction
The Company is pleased to announce that two core samples taken
from Deep Well A8 on the Airshagyl structure at its flagship BNG
Contract Area have undergone preliminary analysis that shows them
to be porous and oil and gas bearing.
Background
Deep Well A8 was spudded in November 2018 with a target Total
Depth of 5,300 meters and with two principal targets. The first in
the Carboniferous and the second in the Devonian.
The well has now reached a depth of 4,379 metres.
As previously reported Deep Well 8 encountered oil shows below
the salt layer.
Latest
A 4 meter core sample was taken at a depth of 4,342 meters and a
second 9 meter core sample was taken at a depth of 4,370 meters.
Based on log analysis and the findings of the independent coring
contractor, the Company believes the A8 well has intersected at
least 37 meters of gross oil bearing reservoir.
Further drilling and core samples will be taken with a view to
establishing the full extent of the depth of the horizon.
Also, as previously reported, with oil confirmed from Deep Wells
A5, A6 and now A8, at what we believe to be the same horizon, we
believe the Airshagyl structure extends over a surface area of 58
km2.
Comment
Clive Carver, Executive Chairman said
"It is obviously pleasing to have further confirmation of the
potential of the Airshagyl structure and we look forward to
establishing the full extent of the horizon.
Caspian Sunrise PLC
Clive Carver
Executive Chairman +7 727 375 0202
WH Ireland, Nominated Adviser
& Broker
James Joyce
Jessica Cave
James Sinclair-Ford +44 (0) 207 220 1666
Yellow Jersey PR
Tim Thompson
Henry Wilkinson +44 (0) 203 735 8825
Qualified Person
Mr. NurlybekOspanov, Caspian Sunrise PLC's Chief Geologist /
Technical Director who is a member of the Society of Petroleum
Engineers ("SPE"), has reviewed and approved the technical
disclosures in this announcement.
This announcement has been posted to:
www.caspiansunrise.com/investors
The information contained within this announcement is deemed by
the Company to constitute inside information under the Market Abuse
Regulation (EU) No. 596/2014.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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