Caspian Sunrise (LSE:CASP) has shared an update on its ongoing corporate activities, with a focus on the planned $88 million sale of shallow assets within the BNG Contract Area—specifically the MJF and South Yelemes structures. While this divestment is still awaiting regulatory approval, its completion is expected to significantly strengthen the company’s balance sheet and reshape its operational outlook.
However, the delay in receiving the necessary consents may impact the timing of Caspian Sunrise’s 2024 financial report. If the financials cannot be published in time, the company may face a temporary suspension of its share trading on the market.
Separately, the company continues to advance the acquisition of Procyon Investments Limited, which holds exploration rights for the Block 8 structure. Progress on this front has been slow, though recent developments have enabled operational activities to resume at the nearby Sholkara structure.
About Caspian Sunrise
Caspian Sunrise PLC is an oil and gas exploration and production company with a primary focus on assets in Kazakhstan. The company manages several key projects across the region and is involved in both shallow and deep drilling operations as part of its broader energy portfolio.
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