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The 155 Shallow Well was averaging approx. just over 30m per day (25 March @ 1,000m after a month of drilling), now if they've been drilling at 25m per since for 60 days they should be preparing to flow test the well, if they have remained on track we should see an Op's Update either next week or the weeks after that should include the 806 Shallow Wells flow test too.
The big question for me is will they wait until these two wells have been tested before updating us on the A5 Deep Well, if the A5 is flowing successfully we could see a separate RNS confirming it's flowing as it's their main well and worthy of a separate RNS - it's been 60 days since it was on site readying to drill - so news next week?
I think if it's in a general Op's Update it could be bad news as I'd expect they'd want to sing and shout if it's flowing OK.
RNS 's for the past seven months have been released every 6-ish week so 8 weeks could have been enough time to complete these wells.
802 Deep Well Specialist onboard to boot?
Today's share trades looks like...
Today's chart looks like liverpool vs Everton!
Ive never had a response from him
He's been like that for years, from their posts you can name the people he talks to and then goes quiet on when he has nothing to pump.
Nothing against any of them so won't be mentioning names.
Wouldn't trust the pieman full stop.
Clive will communicate with PIs but imo, he never gets drawn or crosses the line. If you want to go inside then I suppose that’s an option and you’re locked in. CC did communicate via RNS that they’d received offers significantly in excess of carry value so I suppose almost double the price could be considered as significant ?
Whoever is selling now is having to take far lower prices unless they’re done of course. The MMs are playing a blinder this week and robbing PIs with a 5% spread most of the time, currently 3.3-3.45, not bad business for processing orders !
As posted this morning. This is in the best shape it’s been for ever if you look at the immediate opportunities. Obviously success is key but I can’t remember a time whereby there have been so material news events in the very near term. The CE cash will probably calm a few nerves, the A5 news is huge but as stated, @ 3.45p, this is a raving buy and the downside is minimal but as always, only one person accountable, no victim mentality in this game.
Cmon Casper, time to deliver :)
Indeed it was Adrianz on the 28th April .... "Hes been offered 80 million but wants nearer 100 apparently. Dont know if thats dollars or pounds. Should hear something soon "
There are two sources of information here, Clive & the Kaz gov databases.
Clearly Clive has mouthed off to some people about what is coming. I think it was Gritster who posted $80mil figure here well before it was RNS'd. Market was never going to like that hence the sells based on inside info from Clive posted right here on LSE.
There's probably more info leaked by Clive which explains the continued selling.
The info from the Kaz government tells a different story and the sentiment is buy/hold if you believe that.
That's the bet. Clive vs Kaz gov.
They've got more than that but lets focus on them for now.
Thanks cc,
Now having seen the environmental permits and lining up with the flaring permits the Wells referenced are A5 and 155
Somebody very keen to catch a boat or was it to disembark. Was expecting to see the retrace as posted earlier in the week but the run of buys that pushed it north was sold into again and more range trading. Down to news now and plenty of it but our seller (s) obviously doesn’t want to see the flavour.
Well we've seen the flaring permits and further subsequent environmental permits for permitted waste removal etc. Confirmation of crew assembly, and a million deposit for exclusivity for a sale. Results soon and hopefully a positive rns. Even the weather has been alright....my glass is still half full and it's time for the next round...
Smarty, did you get that boat?
That wasn't A5 photo I posted. It was a wishing well in the local park!
It could be a PI on here, lets see if anyone changes direction with their posts ............. again
Hmmm ….somebody not that keen on Caspian
Another Team member for the Caspian Explorer.
"KC Caspian Explorer" Limited Liability Company (KC Caspian Explorer)
SYAHRIL BIN ABDUL GHANI, SPECIALIST, ELECTROMECHANICAL ENGINEER
Valid dates March 2024 to March 2025
The C.E. is still moored, they'll be running full systems checks, safety drills, practice operations etc.
Their plan/strategy needs to be flexible and fluid dependant on results. Maybe I'm barking up the wrong tree with other asset sales and success is obviously key as it will give them options. If they did achieve success at any of the 3 deep blocks then it's transformational for the company. Lets take the biggest opportunity ie A block. If A5 flows, we know that investment requirements to deliver a thorough FDP will be considerable and maybe that's the time they bring in a competent partner with the technical expertise and financial strength to bring home the bacon. Same goes for the other blocks but success is key and gives them options, who knows, it may lead to a trade sale as an exit it further down the road.
Proving up their asset base was always the strategy and subsequent disposal of them or the company was the end goal, success obviously adding multiples to any valuation.
We know that Casper have to navigate the political challenges, the associated bureaucracy etc but they've managed to do this for 18 years thus far. The board are not getting any younger and I suppose the right price for any of the assets or company will always be considered.
Been here a long time, seen and lived the calamities and challenges to date but I actually believe that we're on the cusp of the creation of some real shareholder value. A high risk investment but maybe one that is just about to deliver sone or all of its promise.
Joe,
Valid points!
50% of The Caspian Explorer was going to be sold to an offshore ( and hard to track country ) for $22.5m
That solved the short term cash problems as far as retaining a legitimised London listing.
Then the Boat hire for $10 - 15m profit was announced as proceeding and Eni said if this well flows there will instantly be more wells and the state contacts said this boat is going to be needed.
Course Change! Keep all of the boat it's worth money.
The concert party ( Kuat ) looked at the cards he was holding and decided to skin the cat another way.
They had been approached about the boat and about the shallows, he puts Block 8 into the Casp pot, buys West Shalva for not a lot and puts that into the Casp pot but pays himself from W.Shalva what he feels the boat still owes him.
The MJF monies of $83m are generally considered to be a low ball offer, but with the £1m up front payment on MJF plus the boat hire payment the plates are kept spinning ( remember they only needed $22.5m )
You either believe in Kuat & Co or you dont?
I think his game plan stacks up.
$83m minus the tax owed of $15 - 17m is overkill on cash flow required, expect everything to be paid off and a small Divi.
Joe,
It’s an interesting one. They’re definitely tight on cash and you’ll see the liabilities column increasing in the 23 finals, hence the need to raise cash. The simple solution if all failed would be to dilute us with a Placing, that would be the last straw but would keep the lights on. Instead, they are flipping assets where required. Shallows are first up and the prod licence (if/when approved) on the deeps will probably see them on the list next, the valuation will depend critically on the next 2 key wells in play ie 803 & A5. Block 8 next, what’s the plan there come the prod licence approval ? Test the new wells and include with BNG ? Left with WS, the rig biz, the CE and a bucket load of cash. I am hopeful of the ‘sensational’ v the ‘calamitous H2, am fully loaded and we don’t have long to wait to really see the strategy.
Smarty, noted that you included FY in your list of 'things to come' [yesterday 18:10].
Can the debacle seen last year be avoided this time?
How will the new Auditors address the 'going concern'?
This was from last time:
"Should it be necessary, the Board has the following actions to mitigate any short-term funding issues
· ...
· To sell all or part of one or more of the Group's assets
· ..."
Well, it's under way.
The next steps in the sale process were to create a Shallow NewCo, then transfer two licences from BNG Ltd to it.
aiui, In September 2022 Block8 was optioned: licence transfer is still awaited, yet this NewCo transfer will occur whilst Absolute Resources LLP undertake their DD, and then the licence and operator transfer to AR will be needed to satisfy the SPA before completion and full payment.
By August?
West Shelva has passed the Waiver hurdle and has to now be awaiting the outcome of "The Acquisition will also be subject to approval by the Ministry of Energy of the Republic of Kazakhstan." Tick tock.
But "with production expected from both Block 8 and West Shalva later this year" the BOD must be hopeful the Licensing department will grant licences imminently, as currently no oil can be produced from Block8 and WS has no mention of a producing well. How late this year??
2023 Annual Report should be interesting with further revelations; 2024 could be sensational or calamitous depending on events as the news unfolds.
jimo
joe
Yep, was there too but was one that made me a few quid ! Todd Kozel !!another clown and plenty of those on AIM, David Fulogas being one of my favourite bull shoiters.
There's worse than Max, try Ryder Scott & GKP
Ryder Scott ? I had to have a little think as to why that was ringing the bell and then I had that nauseating feeling, Max Petroleum !!!
Leveller - it's been Gaffney cline since 2011 (approx), before that i believe they were using a company called Mcdaniels.