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Acid is on site and the team are on the case! Knock knock ... on the door of the Koreans next door? Who knows ;-)
@mrc thanks. I have high hopes here but like you I can see risk. To me the two biggest are the government and a well accident. If we had a Tengiz style explosion it would not be good for us. I have followed a lot of companies in Kazakhstan and seen the government mess with some big time. Including seizing their licence. I am not saying that will happen to us but there are risk even if the odds are really small. Go through the news releases of Tethys and Condor for examples. Also see the Stati seizure.
No trades visible on ADVFN either.
Quaytec....what’s happening? Well after the euphoria of the agm, and license announcement, Casp is doing what it does best, nothing. A8 could, could change things but as we know Casp has an ability to screw things up, so no breath held waiting for a good result. So, it’s a positive outlook on 2020 or 2021.....don’t expect fireworks any day soon with Casp!
WTF happening here or not as the case may be ? not a single trade odd one here, or is lse having problems
rhertig - interested in your post and sympathise. I retired early partly due to being sick of the rat race and partly due to intermittent health issues. I have been investing for about 10 years now and have had a lot of success with choosing funds and investment trusts, as well as 'proper' shares. I have only ever treated AIM as the cherry on the cake side of investing and I am thoroughly glad I did. I would say AIM is only really for trading and skilled trading to boot. I have done a few successful trades, but have been in/am in some awful AIM shares most notably REM/KDNC which has burned loads of people. Even the key rampers are now ****ging the BOD off. In summary if you approach AIM with a "blow the doors off" mentality it will end badly if you are entering with a significant stake that will smart if you lose it.
All the AIM shares I have ever seen had a plethora of people saying "will be massive" and "fill yer boots" etc etc, but big pinch of salt is needed.
Ibyb bad health. I either hit it out of the park with this and get to spend a few years in early retirement or I die at work. As far as retirement for my wife I have that all set. I just won't be alive when those monies can be accessed. I used to have a lot of hope here for a deep to come in. Surely at any time it would flow. Five years later I will believe it when I see it. I hope they get one flowing before I check out. But that's life. Wouldn't have it any other way.
rhetig, just a word of caution, would you miss it if you lost it? Don't over invest or buy more than you can afford to lose. If I had this advice before I lost almost 2 years of take home pay, I wouldn't of had to endure half the problems I faced in the last 4-5 years. Although it's looking promising here, it's never a sure thing.
CC just looked TSI doesn't have a OTC listing so I can't buy it. One day I will get a new broker.
I have 18 months of take home pay invested here. Not sure I can buy anymore.
Mo ... what fk and Richyp have posted does tie in with Clive at agm saying will use both acid and bullets as directed by leading international contractors ...Baker Hughes weren't mentioned by name there but have been previously in rns.. Clive added acid is cheaper so will probably try that first .. if this additional info has the start date then hold on to your hats.. close your shorts .. or rebuy your stock ...as we all know any deep flowing and this doubles and trebles now we have mjf licence under our belt .... deep is the missing piece for a boom ...
GAME ON
Mr C .... I’ll guarantee FK is spot on!
Are Correct MrC..... Trust no-one, lol !!!
Makes no difference to MO, will be looking for flare licences for the deeps, but even then nothing is guaranteed.
Is pivotal time for older cased wells (A6 and 801), can only wait to see how effective our new tech is !!!
Failing that, blow the bleedin doors off !!! or go horizontal/slanted into the most prospective sections...
Good luck, MO
I couldnt leave this post untouched "FK is hopefully honest after all his time here and reputation" are we all supposed to be in kindergarten !!!! FK was an arch ramper either working full time to protect his investment or for the company itself.
Get real -- you can never really trust anyone on these boards in this way..
Just to add to the "Nasty Stuff" hydrochloric acid comment...
It sure is, if you're a piece of limestone blocking CASP from cleaning their well-bore and critical matrix !!!
When spent becomes water and carbon-dioxide !!! is a fact...
MO
Good post that MO.... nice one flawless. He’s one to be trusted ;-)
MO's party already started, lol :-)
Have seen some info from FK, from the other place... Regarding Acid works and A8... Is from Clive, can not personally vouch for info, but FK is hopefully honest after all his time here and reputation, cheers FK !!!
--
Baker Hughes approached CASP with this Technology - they said it has worked on a number of other wells so they are giving it a go. The acid should create a 2.5m channel for the oil to flow through as opposed to the bullets that will go 1.2m deep. Clive said they couldn't do the bullets on A6 now anyway as the drill pipes are currently at A5. He said best plan of action is the acid on 801 and A6 and that they will be done at the same time. Obviously, he couldn't say when exactly they are starting but he said it would take a matter of days for the acid to work. He said it's pretty nasty stuff - his words exactly.
A8 - he said the Chinese are responsible for the cement job and if they make a mistake then CASP won't pay for the job so they are obviously being ultra cautious. He thinks a week or two until we get final go ahead there or not but that they do intend to drill into the Devonian if they can. Clive said he thinks we will have three flow attempts on the deeps by the end of Q3 and one in Q4.
--
Cheers, MO
Have we started acid treatment yet if not why not. Let's get the party started.. gla
If interested, have calculated average API Gravity of MJF oil to 28-29 API.
Is based on... "Oil density varies slightly from samples 0,8820g / cm 3 before 0.8883 g / cm 3 composing 0,8851g / cm on average"
Can do it self at: http://www.sigma2c.com/16api_gravity.html
MO will not directly blame Clive for RNS, is probably reporting verbatim what issued to him.
Is up to Kaz team to provide continuity on wells...
Good luck all CASPers, and just to show MO not total Baker Hughes fan-boy, can see Schlumberger have similar offerings including HPHT SXE emulsified acid, but is a little behind Baker Hughes' polymer system.
https://www.slb.com/completions/stimulation/acidizing-services
Cheers, MO
Rhertig - to clarify I won't be selling casp for tsi or anything else, I have the average I was after a year ago and I have the holding I wanted .... more than happy with the Kazak BOD & concert party , with Clive, Tim and Edmund looking after my interests..... another year after so many - very blasé but so what, the deeps, MJF blockages and Licence hold up I don't see as their direct fault - they are working to resolve it without diluting my holding so will hold for another year for dividend framework agreement to be announced and then review the situation.
Rhertig, its not Clive mate .. he is a very well paid spokesman ..... the change too acid from bullets on A6 is down to cashflow - it must be or else you'd crack on and be drilling, redialling, sidetracking multiple wells at once ..... another year here and we will all be bundled, if you have a better opportunity between now and then take it but I bet loads will miss out on the big payday.... once this has deep news it will spike much higher than we have seen here before ...
If any of you are gambling folk then tsi is worth a look imo .....
Their bad communication is a pain. On the bright side it allowed me to build a position 20x my original one. If Clive worked for my company he would have been removed long ago for horrible and incorrect communications.
@mrcautious I am here for the same reason and looking forward to a £1 plus buyout albeit at a much smaller scale than some investors here. There are always traders with an agenda regardless of fundamentals, there is a lot to be positive about with recent RNS releases yet here we are sub 10p despite income being hugely increased as a result of the licence and positive news such as the previous obstruction being successfully milled away.
It does seem at the moment that the only news investors want is that a deep is flowing, so over to CASP.
And there are those who want to make some money sometime this century for fecks sake, I am a holder, usually the type of person these BB's like as opposed to emotionless 5% day traders..
Regarding MJF resource estimates / CPR
Not sure of next official CPR time-scale, as may wait for 146 input, but resource estimates were provided H2 2018, was required for environmental part of now issued production licence, dated 12th March 2019 (Document KZ48VCY00215142).
i.e.
"The basis for the development of the project document on commercial production is developed in the 2018 LLP «Sci Res» report "Calculation of reserves of oil and dissolved gas post-salt complex field Yelemes Northwest Mangistau region of the Republic of Kazakhstan (as of scrutiny on 01.07.2018, the) ", which was approved by the State Reserves Committee of the
Republic of Kazakhstan (protocol number 1999-01-I from" 10 "December 2018)."
Goes on to state...
"mining lease area - 12.876 km 2."
and
"Residual geological / recoverable reserves C1 constitute 7,755.6 / 2,324.6 tonnes, C2 -1952.0 / 522.0 tons residual"
In layman's terms, MJF Field is approx 12.8 sq Km, contains approx 60m barrels of oil in place, with about 20m barrels recoverable.
Hope this helps whilst waiting for official CPRs
Good luck all CASPers, MO