StockMarketWire.com - Caspian Sunrise said a core sample from its Deep Well A8 on the Airshagyl structure showed traces of oil bearing carbonate.

The company decided to take a further 18-meter sample core sample at a depth of 4,440 meters, and the initial evaluation showed that the core contained oil bearing carbonate for 16 of the 18-meter length.

The comes after a first core was collected at a depth of 4,346 to 4,350 meters, and a second core was collected over the interval 4,370 to 4,379 meters. Preliminary analysis from the first two core samples showed them to be porous and oil and gas bearing, the company said.

The company said it planned to resume drilling for an additional 40 meters before conducting a full wireline analysis over the whole 110 meter oil-bearing interval before casing the well to a depth of 4,500 meters.

'We continue to expect reaching the planned total depth of 5,300 meters before the end of Q3 2019,' the company added.

At 8:18am: [LON:CASP] Caspian Sunrise Plc Ord 1p share price was +0.75p at 12.5p



Story provided by StockMarketWire.com