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Thanks both, I agree, a re-rate would be on the cards based on potential if we get a deep up towards the flow rates we all hope to see. It will be interesting to see how they develop A8.
Oneday. You are welcome. I do agree with CC if the deeps flow we wwill rerate even with the slow process. If we pass 25 pence this year I will be ecstatic. I believe we have that and more to come.
At $20 a barrel the deeps, due to their larger volume production of 1000 to 3500 bold will add to the profits immediately.
The income pays to get the next deep into production, once 3 deeps are flowing the international licence is applied for and the market forward values the stock.
rhertig, Many thanks for explaining the process. Clearly a long way to go before any of the deeps can make a meaningful contribution to the finances. No wonder there seems to be an increasing emphasis on developing the shallow fields where the licences are already approved. Be interesting to see what the next news focuses on. My other oiler produces circa 60,000 BOPD and the SP is in the 50-60p range so there is still a journey here.
Lying might be a bit strong ... call it misdirection ...
Speaking of which has our small scale seller got it to 2p yet ?
is he lying down or standing up??
Mr Crabtree went fishing ...
Nothing new from twatter Shin overnight, will wait and see if he replies to those that linked questions..
The rules are set up to supply cheap oil to the Kazakhstan people. First exploration lisence. Drill and flow test. Then shut down and apply for test production lisence. This is a long period if cheap almost free oil to citizens. Then shut down again and apply for export lisence. Gravy train continues with 20% nearly free oil to citizens.
This is important. The government can get overthrow without this cheap oil.
RNS...
"Production from the first of three intervals planned for testing has been at the rate of approximately 120 bopd for several days.
Work continues to establish the full potential of this well."
I emailed Clive yesterday and he was good enough to reply. I asked about some of the obvious missing information , he basically said they would answer those questions when the position was more certain. In the meantime they would work to maximize the potential of the well, so essentially wait to find out like everyone else!
Cheers rhertig. Could it be that having consistent output from A8 will allow us to make a licence application for the deep wells? I don't know what local prices are atm but I can't believe we will make much, if any, money at $20ish. If we do apply I hope it's approved more quickly than SY.
As Rhertig says, flowing the deeps won't initially be at $89 for 70% of their output. Until an international licence is available it will be more like $20 (we haven't had an update on the local price for a while). Does anyone have any idea of a realistic timetable for such a licence?
Oneday all deeps will be 100% local prices.
George: what's the oil tank photo saying to us , 500.000 barrels
Can't be casp operation or is he/she saying that's where casp are storing it all?
@Coffeecups: Only reader not writer, hate, hate, hate it and don't get me going about Face****
@KK: New poster on twatter, I hinted at it being George ,lol
# @Shin32465540
MLQ,
Shin comments ? have I missed something ?
If they have a horixontal drill solution for the deeps then we really are in business!
Mlq, drop me a dm
Well, Shin seems to know stuff!
I wonder what Shin means by "the distance to the edge of the res is not much".
120BOPD, assuming it is sustainable, is better than we have had to date from the deeps. It could be $5,000 to $10,000 per day in additional gross revenue depending on how much is sold at international prices. Not going to set the world on fire nor the SP but the key is, as speculated here, how much further they can take it? Shin looks to be playing the long game which is, at least, generating some return. The Jan numbers look OK considering they lost a week's production and assuming there is no SY output as yet. Not sure how/if the CPC pipeline may be impacted if Russia goes into Ukraine and sanctions kick in? Let's hope it resolves itself. We have had enough disruption for one year.
lol @George: I kinda thought you were a tic-toc -ie kind of person as well ;0)
Googled that and yes it would be ... deffo not me, run one lse, one advfn and one twitter a/c and thats it for anti - social media.
would be interesting what tweepy in python would say !
Sure there was a deep RNS with that pressure reading unsure about temperature - anyone got a link to it :