CASPIAN SUNRISE

Caspian Sunrise PLC is an oil and gas exploration and production company focused on Kazakhstan. The company's main assets are a 99% interest in the BNG Contract Area and the recently acquired the Block 8 Contract Area.

The 1,561 sq km BNG Contract Area is located close to the giant Tengiz oil field in western Kazakhstan. Caspian Sunrise has been operating BNG since 2011 and has spent over $100 million on exploration and development. The contract area includes both shallow oil fields producing 2,000 - 2,500 bopd from depths of 2,000 - 2,500 meters, with deeper exploratory wells targeting structures at 4,400 - 5,500 meters. Independent estimates for the shallow fields are 14.3 million barrels of P1 reserves and 25.5 million barrels of P2 reserves.

The newly acquired Block 8 Contract Area covers 2,823 sq km located 160 km southeast of BNG. Block 8 includes 3D seismic data over 456 sq km of the block and deeper wells targeting oil. Current production from two wells is approximately 110 bopd with peak production of 800 bopd expected.

In addition to its exploration and production assets, Caspian Sunrise owns subsidiary companies providing drilling services and has recently begun domestic oil trading in Kazakhstan, aiming to directly export its crude oil production once sanctions ease against Kazakhstan.