Announcement • Mar 13
Caspian Sunrise plc Provides Update on Oilfield Operations and Drilling Results Caspian Sunrise plc provided the following update on operations and corporate transactions. The Group's focus is to maximise short term production from the wells already drilled while developing the longer term potential at each of its three oilfields, with the pace of work increasing as we come to the end of the exceptionally cold winter. At the BNG Contract Area the Group holds appraisal licences for the Airshagyl and Yelemes Deep structures. At Deep Well A6, which has been drilled to a depth of 4,528 meters, the plan is to drill a 600 meter side track from a depth of 3,800 meters targeting Permian fractured dolomite and anhydrite, subject to rig availability. Deep Well 803, which had an original planned total depth of 4,500 meters with a primary target at a depth of 3,950 meters and a secondary target at a depth of 4,200 meters, was drilled to a depth of 3,420 meters before work paused towards the end of 2024 for the renewal of the licence. At that time the well had produced for a short period of time at rates of up to 500 bopd from a 10 meter perforated interval within a wider 60 meter interval showing indications of oil between depths of 3,360 and 3,420 meters. Work is underway to install a pump to resume production from this interval. The Group also plans to drill a new deep well near the site of Deep Well 801, which was drilled to a depth of 5,050 meters but later abandoned. A G70 rig will be used to drill the well, which will have a planned total depth of 5,000 meters targeting Permian dolomite/anhydrite, and carboniferous limestone. The well is expected to be spudded in the Second Quarter 2026 and reach its planned total depth by the end of the Third Quarter 2026. At the Block 8 Contract Area the Group holds the licence for the Sholkara structure and continues to work with the Kazakh authorities to renew the licence for the Akkaduk structure. At the Sholkara structure testing work continues to perforate a new 6 meter interval at Deep Well P1 at a depth of 3,467 meters. Once completed the rig will then move to Deep Well P2 to drill a 400 meter side track from a depth of 3,100 meters targeting oil in the Permian dolomite. At the West Shalva Contract Area the intention is to continue to produce from the interval identified at a depth of 2,250 meters, where weatherproofing work continues to maximise oil flows, while a new well on the Contract Area is drilled. The new well will have a planned total depth of 2,400 meters targeting oil in the Jurassic at a similar depth to the oil discovered at the existing well. The new well is expected to be spudded in April 2026 and reach its planned total depth by the end of June 2026. Provided the new well produces as expected the existing well will then be deepened targeting oil in the Triassic limestone at a depth of approximately 3,000 meters. Announcement • Feb 11
Caspian Sunrise PLC Announces Testing at West Shalva Contract Area Caspian Sunrise PLC update shareholders with news of testing at the West Shalva Contract Area. The Group acquired the West Shalva Contract Area in April 2025 for an initial consideration of $5 million and a maximum consideration of $15 million. The West Shalva Contract Area extends over 25 sq. km and is located approximately 600 km south of the Group's BNG and Block 8 Contract Areas. A well with an initial planned total depth of 3,000 meters was spudded in October 2025. A 5 meter interval at a depth of approximately 2,250 meters has been flow tested and produced high paraffin contents oil (about 20%) with +32 degree Celsius pour point temperature. Further testing at this interval will require heat treatment and pumps given the current low temperatures in the field as the solidification of paraffin in the well prevented accurately testing the flow rate for a sustained period. The plan is now to deepen the well to a depth of approximately 3,400 meters to test an interval where potentially greater volumes of oil could be produced from Triassic reservoirs. However, in the event the deeper interval is not commercial the intention is to produce from the interval at 2, 25 0 meters. 
