REG - Caspian Sunrise plc - Testing at the West Shalva Contract Area

Caspian SunriseAnnouncement

10/02/2026 07:00

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RNS Number : 3220S  Caspian Sunrise plc  10 February 2026

The information contained within this announcement is deemed to constitute
inside information as stipulated under the retained EU law version of the
Market Abuse Regulation (EU) No. 596/2014 (the "UK MAR") which is part
of UK law by virtue of the European Union (Withdrawal) Act 2018. The
information is disclosed in accordance with the Company's obligations under
Article 17 of the UK MAR. Upon the publication of this announcement, this
inside information is now considered to be in the public domain.

 

Caspian Sunrise PLC ("Caspian Sunrise" or the "Group")

Testing at the West Shalva Contract Area

 

Introduction

The Board of Caspian Sunrise is pleased to update shareholders with news of
testing at the West Shalva Contract Area.

 

Background

The Group acquired the West Shalva Contract Area in April 2025 for an initial
consideration of $5 million and a maximum consideration of $15 million.

 

The West Shalva Contract Area extends over 25 sq. km and is located
approximately 600 km south of the Group's BNG and Block 8 Contract Areas.

 

Testing

A well with an initial planned total depth of 3,000 meters was spudded in
October 2025.  A 5 meter interval at a depth of approximately 2,250 meters
has been flow tested and produced high paraffin contents oil (about 20%) with
+32 degree Celsius pour point temperature

 

Further testing at this interval will require heat treatment and pumps given
the current low temperatures in the field as the solidification of paraffin in
the well prevented accurately testing the flow rate for a sustained period.

 

The plan is now to deepen the well to a depth of approximately 3,400 meters to
test an interval where potentially greater volumes of oil could be produced
from Triassic reservoirs. However, in the event the deeper interval is not
commercial the intention is to produce from the interval at 2,250 meters.

 

 

 Contacts:

 

 Zeus               +44 (0) 203 829 5000

 James Joyce

 James Bavister

 Andre de Andrade

 

 

This announcement has been posted to:

www.caspiansunrise.com/investors (http://www.caspiansunrise.com/investors)

 

Qualified Person

Mr. Sunjin Chang, a member of the Society of Petroleum Engineers, has
reviewed and approved the technical disclosures in these financial statements.

 

The person responsible for arranging the release of this announcement on
behalf of the Company is Clive Carver, Chairman of the Company.

 

This announcement has been posted to:

www.caspiansunrise.com/investors (http://www.caspiansunrise.com/investors)

 

 

 

 

 

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