Caspian Sunrise Shares Jump On Kazakh Oil Discovery

摘要

Caspian Sunrise, the UK-listed independent formerly known as Roxi Petroleum, saw its share price soar over 60% this week after it announced that a deep well at its BNG contract area in western Kazakhstan had tested at a rate of 3,500 b/d (NC Mar.2’17). The company, which changed its name earlier this year, said well A5 flowed uninterrupted for four hours, without artificial stimulation, and was then shut in pending the arrival of additional high-pressure testing equipment. It said the buildup in pressure indicated an 'excellent' reservoir quality and, according to its chairman Clive Carver, shows the 'huge potential' of the area’s deep horizons.