31 January 2018, Caspian Sunrise has announced its intention to acquire 100% of the shares of 3A-Best Group, the company that owns a contract area onshore Mangyshlak-Central Caspian Basin, close to the Caspian port city of Aktau. The block is adjacent to and runs under the producing Dunga field, developed by a consortium operated by Maersk Oil. The indicated purchase price is USD 24 million. This will be paid by issuing approximately 148 million new Caspian Sunrise shares at the proposed price of 12p per share. According to Caspian Sunrise, 490 sq km of 3D seismic have been acquired and 1,327 line-km of 2D have been digitised and reprocessed in this contract area. Two wells have been drilled in recent years, both encountering water and non-commercial shows of oil and gas. Caspian Sunriseâs press release does not mention the Yespelisay gas discovery which appears to be included in the 3A-Best Groupâs contract area. Caspian Sunrise believes that some of the geological characteristics of the Dunga field are also present at 3A-Best Group block. Additionally, blockâs area that extends from 2,500 m depth below the Dunga contract area and which forms part of the 3A-Best Group block, also indicates the likely presence of oil. Caspian Sunrise would, by completing the acquisition of 3A-Best Group, become responsible for the outstanding work programme commitment represented by the drilling of one well to a depth of 3,000 m. The wellâs cost is estimated at up to USD 2 million. 3A-Best Group is listed on the Kazakhstan Stock Exchange. The company is owned by the Caspian Sunriseâs CEO and the CFO. The purchase of 3A-Best Group is subject to due diligence, the entering into of a definitive binding agreement, compliance with the AIM Rules for related party transactions, the UK Takeover Code and the approval of the Caspian Sunriseâs Independent directors and shareholders. 
Caspian Sunrise has announced its intention to acquire 100% of the shares of 3A-Best Group, the company that owns a contract area onshore Mangyshlak-Central Caspian Basin, close to the Caspian port city of Aktau. The block is adjacent to and runs under the producing Dunga field, developed by a consortium operated by Maersk Oil. The indicated purchase price is USD 24 million. 