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Operations

The Company’s flagship asset is it 99% interest in the BNG Contract Area. Additionally the Company holds a 100% interest in the 3A Best Contract Area.

Kazakhstan BNG
Licence Working Interest (%) Area (sq km) Basin
BNG 99 1,561 Pre-Caspian
3A Best 100 1,347 Pre-Caspian

 

Wells drilled

Asset 31 December 2016 31 December 2015
BNG 12 8

Reserves and Resources

Reserves mmbls
Asset As at 24 March 2017* 31 December 2016 31 December 2015
BNG
Shallow (P1) 18.3 18.3
Shallow (P2) 29.3 29.3
Deep (P1)
Deep (P2)

Geology

In January 2011, BNG engaged Gaffney Cline & Associates (“GCA”) to undertake a technical audit of the BNG Contract Area and subsequently Petroleum Geology Services (“PGS”) to undertake depth migration work, based on the 3D seismic work carried out in 2009 and 2010.

The work of GCA resulted in confirming total unrisked resources of 900 million barrels from 37 prospects and leads mapped from the 3D seismic work undertaken in 2009 and 2010. The report of GCA also confirmed risked resources of 202 million barrels as well as Most ­Likely Contingent Resources of 13 million barrels on South Yelemes.

The depth migration work that was carried out by PGS enabled Caspian Sunrise to gain a greater understanding of some of the deeper prospects yet to be explored. Caspian Sunrise believes the greater potential exists in the pre salt prospects and has plans to drill further wells to validate this belief.

In September 2016 Gaffney Cline completed an assessment of the reserves and resources attributable to the MJF structure based principally on the results from well 143. We plan to ask Gaffney Cline to revisit these finding based on additional information from 143 and information from new wells 141, 142, 144, 145 and 146 when drilled.

Well Summary

BNG

Well Date spudded Depth (Meters) Structure Working interest (%)* Status BOPD
A5 July 2013 4,432 Aryshagal 99 Sidetrack N/A
A6 Nov 2015 4,516 Aryshagal 99 Re perforation N/A
801 Dec 2014 5,050 Yelemes deep 99 Chemical wash N/A
54 Soviet era 3,000 Yelemes 99 Shut in N/A
805 2010 2,505 Yelemes 99 Producing under test xxx
806 2010 2,557 Yelemes 99 Producing under test 47
807 Sept 2013 2,500 Yelemes 99 Producing under test 48
808 Jan 2017 3,200 New 99 Drilling N/A
141 Aug 2016 2,500 MJF 99 Producing under test 367
142 Oct 2016 2,500 MJF 99 Producing under test 163
143 April 2013 2,750 MJF 99 Producing under test 620
144 May 2017 2,500 MJF 99 Producing under test 700
145 July 2017 2,500 MJF 99 Drilling paused at 1,700m to fit casing N/A
146 October 2017 2,500 MJF 99