No recommendation
No news or research item is a personal recommendation to deal. Hargreaves Lansdown may not share ShareCast's (powered by Digital Look) views.
(Sharecast News) - Central Asian exploration and production company Caspian Sunrise said on Friday that the first well to be drilled on the Shalva contract area has been spudded.
Caspian Sunrise acquired the West Shalva contract area in April 2025 for an initial $5m consideration, with a maximum consideration of $15m in the event of successful oil production.
The AIM-listed group said its new well had a planned total depth of approximately 3,000 meters, with two principal targets. The first target was at approximately 2,300 meters in the Jurassic sandstone, with the second at approximately 2,600 meters in the Triassic limestone.
Caspian Sunrise added that the well was expected to take approximately two months to drill.
As of 0900 BST, Caspian shares were suspended at 2.15p.
Reporting by Iain Gilbert at Sharecast.com
The value of investments can go down in value as well as up, so you could get back less than you invest. It is therefore important that you understand the risks and commitments. This website is not personal advice based on your circumstances. So you can make informed decisions for yourself we aim to provide you with the best information, best service and best prices. If you are unsure about the suitability of an investment please contact us for advice.