Caspian Sunrise updates operations, completes Tau-Cen acquisition

LONDON - Caspian Sunrise PLC announced on today's press release that its oilfields are operating normally and they have finalized their acquisition of Tau-Cen LLP. The firm mentioned that all four of their drilling rigs are currently functional. At Deep Well 803 on the BNG Contract Area's Yelemes Deep structure, they are currently testing the Lower Permian P1f horizon, with a 10-meter interval drilled from depths of 4,071 to 4,081 meters.

They plan to drill and test an additional 12-meter interval from depths of 3,911.5 to 3,964 meters in the coming days. At Deep Well 707, they have drilled approximately 1,800 meters with an expected total depth of 3,500 meters by early Q4 2026. Deep Well 701 is scheduled for the Yelemes Deep structure with a planned total depth of 5,000 meters, with drilling expected to be completed by year-end.

The P2 Well on the Sholkara structure at Block 8 is currently producing around 150 barrels of oil per day. Further drilling at Block 8 is on hold due to rig availability. At West Shalva, the well is producing 50 barrels per day. Caspian Sunrise confirmed they received regulatory approval for the Tau-Cen LLP acquisition, which was announced in December 2025 for $0.7 million.

The deal focuses on titanium, with potential future additions of gold and zirconium. The company stated they will publish their 2025 audited financial statements in the coming weeks. Currently, the company's shares are under temporary suspension, which is expected to be lifted once the financial statements are released.