The Company’s long term strategy is to build a diversified portfolio of oil and gas exploration and production assets in Central Asia and, in particular in Kazakhstan where the Board has the greatest experience.
Additionally the Company will seek to exploit associated opportunities where the board believes it can add significant value.
The Company’s principal asset is its interest in BNG, which will be the focus of the Group’s development activities for the foreseeable future.
The Board plans to continue to develop the BNG Contract Area such that by summer 2018, the date when a full production licence can be applied for, the BNG Contract Area has been drilled to identify the greatest level of reserves and production consistent with minimising the diluting of Caspian Sunrise shareholders.
In particular the Company’s objective is to seek P2 reserves of in excess of 730 mbbls by the summer of 2018 to qualify to a 49-year production licence.
The Directors believe the Company is exceptionally well placed through its local presence to increase shareholder value by opportunistic acquisitions of undervalued oil and gas assets.
Over the medium term the Company will consider acquiring additional assets where the Board believes it would increase shareholder value.
Additionally, the Board believes there is a significant opportunity to assist much larger companies seeking to enter the vast Kazakhstan’s oil and gas market where they wish to have a well placed local partner.