Caspian Sunrise plc BNG Operational Update (7751I)
November 28 2018 - 6:05AM
UK Regulatory
TIDMCASP
RNS Number : 7751I
Caspian Sunrise plc
28 November 2018
Caspian Sunrise PLC
("Caspian Sunrise" or the "Company")
BNG Operational Update
The Board of Caspian Sunrise are pleased to provide the
following update at its BNG Contract Area:
Deep Wells - new wells
A8
Caspian Sunrise is pleased to announce the spudding of a new
deep well A8 within the Airshagyl field of the BNG contract area.
It has reached a depth of 350 meters without incident.
The well is planned with a total depth of 5,300 meters and will
target pre-salt reservoirs of Permian, Carboniferous, and Devonian
ages. Based on our interpretation of the 3D seismic data we expect
to encounter the top of the salt layer at a depth of about 3,900
meters.
The well is being drilled in two parts. The first 4,100 meters;
to the expected base of the salt layer, will be drilled by
Sinopec.
To ensure lessons learned from the drilling of the previous
three deep wells are utilized and the likelihood of a successful
well maximized, BNG staff will provide direct oversight and work in
close collaboration with the drillers when drilling from the base
of the salt through the reservoir section.
A casing shoe will be set and drilling of the prospective
reservoir sections will be done using the BNG operator and crew
which successfully drilled the A5 side-track 2 with minimal
formation damage.
The well is anticipated to take approximately 250 days to drill
and complete.
Deep Wells - exiting wells
801
As previously announced our policy at Deep Well 801 is to wait
until the pressure in the well reaches its natural peak before
opening the well and commencing a flow test. The pressure in the
well continues to rise steadily and by 27 November 2018 had reached
485 bar.
A5
Again as previously announced the issue at A5 has been the
presence of approximately one meter of unwanted metal towards the
bottom of the well. To date attempts to remove the metal have
proved unsuccessful. Further specialist tools are being sourced to
assist in the removal of this unwanted metal. Should the unwanted
metal still remain present in the well after all attempts to remove
it have been exhausted our fall back would be to drill a further
side track from a position above the unwanted metal
obstruction.
Ends
Caspian Sunrise PLC
Clive Carver
Executive Chairman +7 727 375 0202
WH Ireland, Nominated Adviser
& Broker
James Joyce
Jessica Cave
James Sinclair-Ford +44 (0) 207 220 1666
Yellow Jersey PR
Tim Thompson
Henry Wilkinson +44 (0) 203 735 8825
Qualified Person
Mr. Nurlybek Ospanov, Caspian Sunrise PLC's Chief Geologist /
Technical Director who is a member of the Society of Petroleum
Engineers ("SPE"), has reviewed and approved the technical
disclosures in this announcement.
This announcement has been posted to:
www.caspiansunrise.com/investors
The information contained within this announcement is deemed by
the Company to constitute inside information under the Market Abuse
Regulation (EU) No. 596/2014.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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