Caspian Sunrise PLC

("Caspian Sunrise", the "Group" or the "Company")

Update

Introduction

The Board is pleased to update shareholders with further news of the ongoing testing at Wells 155 & 803, drilling at new Well 815 and with the progress on the Caspian Explorer's charter, together with an update on the expected time for the resumption of trading in the Company's shares.

Well 155

Well 155 on the shallow MJF structure at the BNG Contract Area was spudded in Q1 2024 with a planned total depth of 2,400 meters. Drilling has been completed and oil detected over a 22 meter interval.

As previously reported on 2 July 2024, a 16 meter interval was perforated and flowed at a rate of 900 to 1,000 bopd using a 4.5mm choke. Oil has now flowed from the well for the past 10 days. A further update on well 155 will be provided in due course.

Well 803

Deep Well 803 was spudded in Q4 2023 with a planned Total Depth of 4,200 meters and a primary target at a depth of 3,950 meters with a secondary target at a depth of 4,200 meters.

Oil has been detected over a 60 meter interval between 3,360 meters and 3,420 meters, above expectations and also above the main salt layer.

Testing continues over an interval now extended to 15 meters.

Well 815

Well 815 is a new well on the South Yelemes shallow structure at the BNG Contract Area with a planned total depth of 1,900 meters.

Drilling has now reached a depth of 110 meters without incident.

Caspian Explorer

The Board is pleased to confirm that the preparatory work for the charter for a consortium led by ENI has been completed and that the Caspian Explorer has left the port of Aktau and reached the drill location.

Drilling is expected to take two months to complete.

Publication of the 2023 Financial Statements

The Board expects to publish the audited financial statements for the year ended 31 December 2023 by the end of the week, which would allow a resumption in the trading of the Company's shares on AIM.

Contacts:

Caspian Sunrise PLC

WH Ireland, Nominated Adviser & Broker

Qualified person

Mr. Assylbek Umbetov, a member of the Association of Petroleum Engineers, has reviewed and approved the technical disclosures in this announcement.

This announcement has been posted to:

www.caspiansunrise.com/investors

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.