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Shares in Caspian Sunrise PLC (AIM:CASP), the oil and gas company operating in Kazakhstan, rose 8% to 2.16p after it accelerated and expanded its drilling programme at the BNG Contract Area. The company said encouraging results at its Yelemes Deep structure had prompted it to bring forward and add to its drilling plans.
Caspian Sunrise PLC (AIM:CASP) traded 17% higher in Wednesday morning's exchanges, rising to 2.99p, as it received a two-year extension to its Yelemes Deep exploration licence in the BNG Contract Area, Kazakhstan. The licence enables the company to resume development at Deep Well 803, where oil was previously detected, it said in a statement.
Caspian Sunrise PLC (AIM:CASP) shares traded up in Monday's early exchanges, as the small-cap oil af gas firm posted a pair of financial reports - one for the six months ended 30 June 2025, and one for the twelve ended 31 December 2024. The set with most recency, shows interim revenues were US$9.9 million and a $2.7 million loss after tax.
Caspian Sunrise PLC (AIM:CASP) has spudded the first well at its West Shalva Contract Area in Kazakhstan. It is expected that the well will be drilled down to 3,000 metres and take around two months to complete.
Shares in Caspian Sunrise PLC (AIM:CASP) fell 10% on Monday after the company said its $88 million asset sale in Kazakhstan was still awaiting final regulatory approvals. The sale of the MJF and South Yelemes fields has so far brought in $15.7 million, with operational handovers already completed.
Shares of Caspian Sunrise PLC (AIM:CASP) tumbled 10% to 2.76p in early trading as it warned of operational challenges due to ongoing Russian sanctions affecting the oil it produces in Kazakhstan and disruption to sourcing drilling consumables from China. Due to this, the company said that it is unlikely to resume dividend payments in the near term, having suspended payment in June following the failure to receive a US$22.5 million payment from the sale of 50% of the Caspian Explorer.
Shares in Caspian Sunrise PLC (AIM:CASP), the Kazakhstan-focused oiler, dropped by almost a third after it said it was cancelling the dividend payment for the foreseeable future. In an update, the group said it found itself the unintended victim of the Ukraine conflict insomuch as it has layered in additional costs and, crucially, has resulted in an $18 million loss of revenue.
Caspian Sunrise PLC (AIM:CASP) shares started Monday strongly after the firm told investors that oil is flowing in its side-track to Deep Well 802, in western Kazakhstan, at a rate between 700 and 900 barrels of oil per day. The company, in a statement, noted that the side-track still had 100 metres left to drill nevertheless after encountering a strong flow of gas the well began producing oil, with the rates to date coming in ‘open hole' conditions.
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