Caspian Sunrise reports increased production from Kazakhstan's Block 8

(Sharecast News) - Caspian Sunrise reported increased test production from Deep Well P2 at the Block 8 Contract Area in Kazakhstan on Friday, as it moved closer to finalising the acquisition of the asset. The AIM-traded firm said the well was now producing approximately 876 barrels of oil per day on a four millimetre choke.

It also confirmed that Deep Well P1 had been perforated across a three-metre interval at a depth of 3,391 metres, with testing expected to begin shortly.

Block 8 covered 2,823 square kilometres and lay around 160 kilometres from Caspian Sunrise's existing BNG Contract Area.

The licence for the Sholkara structure within Block 8 was renewed in the fourth quarter of 2024, enabling the resumption of drilling and testing operations on previously drilled deep wells.

Deep Well P2 was drilled to a depth of 3,415 metres, while P1 reached 3,434 metres.

The company said further updates would be provided as testing progressed.

Reporting by Josh White for Sharecast.com.