Update

The information contained within this announcement is deemed to constitute inside information as stipulated under the retained EU law version of the Market Abuse Regulation (EU) No. 596/2014 (the "UK MAR") which is part of UK law by virtue of the European Union (Withdrawal) Act 2018. The information is disclosed in accordance with the Company's obligations under Article 17 of the UK MAR. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

Caspian Sunrise PLC ("Caspian Sunrise" or the "Group")

Update

Introduction

The Board of Caspian Sunrise is pleased to provide the following update on operations and corporate transactions.

Operations

The Group's focus is to maximise short term production from the wells already drilled while developing the longer term potential at each of its three oilfields, with the pace of work increasing as we come to the end of the exceptionally cold winter. 

BNG

At the BNG Contract Area the Group holds appraisal licences for the Airshagyl and Yelemes Deep structures.

Airshagyl

At Deep Well A6, which has been drilled to a depth of 4,528 meters, the plan is to drill a 600 meter side track from a depth of 3,800 meters targeting Permian fractured dolomite and anhydrite, subject to rig availability.

Yelemes Deep

Deep Well 803, which had an original planned total depth of 4,500 meters with a primary target at a depth of 3,950 meters and a secondary target at a depth of 4,200 meters, was drilled to a depth of 3,420 meters before work paused towards the end of 2024 for the renewal of the licence. At that time the well had produced for a short period of time at rates of up to 500 bopd from a 10 meter perforated interval within a wider 60 meter interval showing indications of oil between depths of 3,360 and 3,420 meters.

Work is underway to install a pump to resume production from this interval.

We also plan to drill a new deep well near the site of Deep Well 801, which was drilled to a depth of 5,050 meters but later abandoned. A G70 rig will be used to drill the well, which will have a planned total depth of 5,000 meters targeting Permian dolomite/anhydrite, and carboniferous limestone.  The well is expected to be spudded in Q2 2026 and reach its planned total depth by the end of Q3 2026.

Block 8

At the Block 8 Contract Area the Group holds the licence for the Sholkara structure and continues to work with the Kazakh authorities to renew the licence for the Akkaduk structure.

At the Sholkara structure testing work continues to perforate a new 6 meter interval at Deep Well P1 at a depth of 3,467 meters. Once completed the rig will then move to Deep Well P2 to drill a 400 meter side track from a depth of 3,100 meters targeting oil in the Permian dolomite.

West Shalva

At the West Shalva Contract Area the intention is to continue to produce from the interval identified at a depth of 2,250 meters, where weatherproofing work continues to maximise oil flows, while a new well on the Contract Area is drilled.

The new well will have a planned total depth of 2,400 meters targeting oil in the Jurassic at a similar depth to the oil discovered at the existing well. 

The new well is expected to be spudded in April 2026 and reach its planned total depth by the end of June 2026.  Provided the new well produces as expected the existing well will then be deepened targeting oil in the Triassic limestone at a depth of approximately 3,000 meters.

Corporate transactions

Block 8 acquisition

Further to the announcement of 28 January 2026 the Board is pleased to confirm that the acquisition of the Block 8 Contract Area has completed.

Tau Cen

In December 2025 we announced the conditional acquisition of Tau Cen, a mining operation focused on titanium. We continue to work with the Kazakh authorities to secure the regulatory consents required to complete the acquisition.

Clive Carver, Chairman said

"With the difficult winter conditions soon to be behind us we are increasing the Group's operational activities with a view to maximising short term production at each of our three oilfields."

Contacts:

Qualified Person

Mr. Sunjin Chang, a member of the Society of Petroleum Engineers, has reviewed and approved the technical disclosures in these financial statements.

This announcement has been posted to:

www.caspiansunrise.com/investors

The person responsible for arranging the release of this announcement on behalf of the Company is Clive Carver, Chairman of the Company.

This announcement has been posted to:

www.caspiansunrise.com/investors