Caspian Sunrise plc – CASP – Interim Results

Caspian Sunrise plc – CASP – Interim Results

Operational

·    Production

Six months ended 30 June

Units

2020

2019

Total production

bbls

272,707

259,475

Production for export sales

bbls

115,233

Production for domestic sales

bbls

157,474

259,475

Average daily production in the period

bopd

1,494

1,421

Daily production at the period end

bopd

1,643

1,268

·    New Wells 150 & 153 operational in the period under review

·    New Well 151 spudded in the period under review and now testing

·    Acid treatments conducted at Deep Wells A6 & A8

·    Work resumed at deep Well A5

·    Acquisition of the Caspian Explorer now subject only to UAE re-registration

·    New drilling paused

Financial

Six months ended 30 June

2020

2019

$’m

$’m

Revenue

5.0

4.4

Gross Profit

2.4

0.0

Operating loss

(0.9)

(1.4)

Loss before tax

(1.4)

(1.5)

Total assets

121.9

127.5

Cash & cash equivalents

0.2

4.0

Other current assets

4.5

5.7

Current liabilities

28.4

28.4

Net cash used by / provided from operating activities

(4.7)

4.6

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