Caspian Sunrise (LSE:CASP) has detailed plans to accelerate activity across its Kazakhstan assets as winter conditions recede, focusing on boosting near-term production from existing wells while continuing appraisal work on deeper targets. Within the BNG contract area, the company intends to sidetrack Deep Well A6 in the Airshagyl structure and restart pumped production at Deep Well 803 in the Yelemes Deep zone. Preparations are also underway to drill a new deep well near the previously abandoned Well 801 site, targeting a depth of around 5,000 metres with completion expected by late Q3 2026.
At Block 8, where the acquisition of the contract area has now been finalised, the company continues testing operations at Sholkara’s Deep Well P1. A sidetrack is also planned at Well P2 to access Permian dolomite formations. Meanwhile, discussions with Kazakh authorities are ongoing regarding the renewal of the licence covering the Akkaduk structure. In the West Shalva area, Caspian Sunrise aims to sustain output from an existing producing interval at approximately 2,250 metres, drill a new Jurassic-targeted well between April and June 2026, and potentially deepen the current well to reach the Triassic horizon. The programme reflects a broader strategy to expand production while exploring additional reservoirs across several geological layers.
The company’s outlook is supported by relatively strong technical indicators and an apparently attractive valuation, with the share price trading above key moving averages and a low price-to-earnings ratio suggesting possible undervaluation. Financial performance, however, presents a mixed picture, as profitability has been accompanied by declining revenues and pressures on cash flow. Limited disclosure from earnings calls and a lack of major corporate events also restrict the availability of further insights.
More about Caspian Sunrise
Caspian Sunrise is an oil and gas exploration and production company focused on onshore hydrocarbon assets in Kazakhstan. Its operations centre on three principal contract areas—BNG, Block 8 and West Shalva—where the group targets multiple geological horizons to support both near-term production growth and longer-term reserve development.
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