28 September 2018, Caspian Sunrise has announced signing of non-binding contracts to sell its interest in the Munayli contract area have been signed for a nominal purchase consideration. These contracts are subject to regulatory approval.  The Munayli field is located in onshore southern Precaspian Basin approximately 70 km south-east of the town of Kulsary. It was discovered in 1947 and produced at low rates from 12 reservoirs in the Cretaceous to the Triassic at depths of 500-1,650 m. Roxi acquired 58.41% interest of the 0.67 sq km rehabilitation block in 2008 and funded two wells and one well re-entry. Following the Baverstock Merger, Caspian Sunriseâs interest in the Munayli Contract Area grew to 99.0%  There are estimated 1.2 MMb of remaining recoverable oil reserves at Munayli. No oil was produced from Munayli in 2018.  Background Information  Munayli Kazakhstan LLP, the operator, holds a rehabilitation contract for the Munayli oil field. In April 2010, Munayli Kazakhstan was granted permission to proceed to a 15-year production phase of the relevant Sub-Soil User Contract. This allows production to be sold at international prices.   On 2 December 2012, the operator began production from well H1. The well flowed at a rate of 125 bo/d at the time.  In June 2016, Munayli Kazakhstan LLP concluded an agreement with EOR Petroleum Technology Aktobe LLP, the Chinese contractor, to re-enter up to 20 wells drilled in the Munayli field during Soviet period. The contractor was responsible for all workover costs. Any incremental production would be split on a 50:50 basis. In September 2016, EOR Petroleum Technology Aktobe LLP reentered one well in Munayli, however, no results of this work were announced at the time.
28 September 2018, Caspian Sunrise has announced signing of non-binding contracts to sell its interest in the Munayli contract area have been signed for a nominal purchase consideration. These contracts are subject to regulatory approval. The Munayli field is located in onshore southern Precaspian Basin approximately 70 km south-east of the town of Kulsary