StockMarketWire.com - Caspian Sunrise announced 'significantly' improved production and revenue numbers for September compared with the prior month, from the shallow wells at its flagship BNG contract area.

In September 2019, oil produced rose to 40,826 barrels from 36,530 barrels in August, at the rate of 1,361 barrels of oil per day (bopd), up from 1,178 bopd in August, an increase of 15.5%.

About one third of this production was sold at domestic prices and, for the first time, about two-thirds were sold by reference to world prices, the company said.

The increase in production volumes reflected successful workovers at Wells 141 and 145, with production at these wells increasing by 144% and 58% respectively, the company added.

Further workovers were planned on the existing MJF wells, which were expected to boost production volumes.

'Additionally, the campaign to drill a further 18 MJF infill wells is underway, with the first six drill sites being prepared for drilling. We are targeting 31 December 2019, to complete the next three wells at the MJF structure,' Caspian Sunrise said. At 9:52am: [LON:CASP] Caspian Sunrise Plc Ord 1p share price was +0.13p at 10p



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