The board of Caspian Sunrise is pleased to announce that the first well to be drilled on the West Shalva Contract Area has been spudded.
The West Shalva Contract area was acquired in April 2025 for an initial $5 million consideration with a maximum consideration of $15 million in the event of successful oil production.
The well has a planned total depth of approximately 3,000 meters with two principal targets. The first target is at approximately 2,300 meters in the Jurassic sandstone with the second target at approximately 2,600 meters in the Triassic limestone.
The well is expected to take approximately two months to drill.
Contacts:
|
Zeus James Joyce James Bavister Andre de Andrade |
+44 (0) 203 829 5000 |
This announcement has been posted to:
www.caspiansunrise.com/investors
Mr. Sunjin Chang, a member of the Association of Petroleum Engineers, has reviewed and approved the technical disclosures in this announcement.
The person responsible for arranging the release of this announcement on behalf of the Company is Clive Carver, Chairman of the Company.
