StockMarketWire.com - Caspian Sunrise confirmed that it had signed a contract with an international oil trading group for the first sale of oil from the BNG Contract Area and said that wells A5 & A8 could be on a 90-day flow test before the end of the current quarter.

The company confirmed its sale of the first 29,000 barrels of oil would be sold in September.

The price would be fixed on loading by reference to the prevailing brent oil price and the company expected to receive approximately double the amount the oil it would have sold for on the domestic market.

At its deep well, A5, the company expected the side-track to be completed by the end of September 2019, at which point it would look to perforate the well.

At A8, meanwhile, the company said it had agreed to stop drilling the well at the current depth of 4,520 meters and to perforate the well across a 40-meter zone in the 52.5-meter interval of highest prospectivity.

The company anticipated the perforation exercise would take place in the next few weeks.

The acid treatment work at deep wells A6 and 801 was expected ot commence in October 2019.




At 9:31am: [LON:CASP] Caspian Sunrise Plc Ord 1p share price was +0.3p at 8.7p



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