Caspian Sunrise plc Increase in price for oil sold to domestic market (6484V)
16 Abril 2021 - 1:00AM
UK Regulatory
TIDMCASP
RNS Number : 6484V
Caspian Sunrise plc
16 April 2021
Caspian Sunrise PLC
("Caspian Sunrise" or the "Company")
Increase in the price for oil sold to the domestic market
The Board of Caspian Sunrise are pleased to announce that it has
been informed that the price for oil sold to the domestic market
from its flagship BNG Contract Area has been increased to
approximately $12.4 per barrel.
While this still lags far behind the international price it is
approximately double the price received for most of the past 12
months and as such will be a significant boost for the Company's
finances.
Comment
Clive Carver, non-executive chairman commented.
"This news is very welcome and we hope it marks the beginning of
the closing of the gap between international and domestic prices to
levels seen before Covid-19."
Contacts:
Caspian Sunrise PLC
Clive Carver
Chairman +7 727 375 0202
WH Ireland, Nominated Adviser & Broker
James Joyce +44 (0) 207 220 1666
James Sinclair-Ford
Qualified person
Mr. Asslybek Umbetov, a member Association of Petroleum
Engineers, 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.
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END
MSCGPUACCUPGGAA
(END) Dow Jones Newswires
April 16, 2021 02:00 ET (06:00 GMT)
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