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I did a little back of the envelope calculation today, and I think revenue for the remaining 5 months of the year could be about $18m based on current output, oil prices and an export licence for Yelemes from October. Obviously it would be more with further successful drills, and less if the latest 650 bopd well didn't maintain its flow rate
The first 7 months of the year are a little more difficult to calculate as we have limited knowledge about when and how fast the domestic price went up, and how the export percentage was adjusted on a monthly basis. An optimistic figure would be $10m
Sorry about my use of a tla there Rhertig
Morning Yank!!
per calendar month
What is pcm?
Well you could say the same of the shallows, but Mr Shin seems to have made a difference there.
I haven't got a technical answer to your question as my geophysical knowledge is about as deep as that of the pieman
But what would they do differently? A8 was a massive disappointment.
Another couple of horizontal shallow drills like the last one would put our revenue over $5m pcm, each one worth a million a month, and paying for themselves within two months each. Develop MJF and use the same strategy for Yelemes when it becomes available and we will be able to finance some more deep attempts next year.
Un .. think deep prices $8-10m sinopec quotes.
I can remember Clive quoting that we were sitting on something pretty special over 4 years ago, let’s hope this weeks news is the start of the good news for CASP.
With the increased output they should be clearing $3m revenue pcm from now on. Until we get the H1 data ( and maybe not even then !) we don't know what their cashflow position is, and how much of that is needed to continue to get them out the pandemic hole, but there should be room for a fair amount of drilling expenditure in the second half of the year. We have some info on the cost of a new shalow drill (about $1.5m) but the horizontal technology may be costlier. I can't remember the cost of a new deep drill, but they will be doing remedial work on their old attempts first.
I am anticipating a fair amount of activity before the winter sets in and some intersting RNSs during the autumn. The answers to questions, when they come, may give more info. It would be good to know their drilling schedule for the rest of the year.
Is 802 next because of the licence commitments?
I speak to Fk occasionally, he’s doing ok.
Everything looking good but i cant believe the share price is so low. Will we ever take off .
Meanwhile Crude recovering above $76 and with 645 extra barrels, that is good news.
Can't remember what the last BicoTender said, i believe Adrianz posted and i seem to remember that was 802 ? 802 is the next deep Yelemes well but i though A9 was the next in order.
They need a competent partner for the deeps unless Mr Shin has the answer with the fracking plan. Everything still in play until P&Ad and that would be the easy option but they continue to chase the dream. Is it FOMO or do they believe they can solve the conundrum ?
Kk ...think the household services refers to workers housing and sanitary.
Stage 2 is the drill tender ?
I never spoke to our FK. Is anybody still in contact with him ? an aka ramping on other threads ? Let's hope the Polish LF Printing market is holding up and he's still got the hot tub.
Back to Caspian, answers to questions please Clive.
The Heading on the 28/7 notice is - Tunkey exploration well construction No 802. The previous notice in May was titled - Household services at Elemes Yuzhny field for 2021...lol
I know, call me Dave !
UK Red has put a post up on Advfn re Bico tender - https://www.bicotender.ru/tender194610834.html
Translation below -;
LLP/BNG/Ltd - announces a tender. Turnkey exploration well construction No 802 (with result)
2 000 000 000.00 KZT
Start of tender - 28/07/21
Tender No 194610834
Type - Single supplier
KK you shameless ramper lol.
75p ... As you say could easily happen or just as easily not.
But that's why most of us have traded away and kept a few mill on the side for the never never.
Oh well, cover blown and can't put up the chart for some reason ...lol
https://uk.advfn.com/cmn/chrt/chrt_wrap.php?epic=LSE%3ACASP&name=&type=1&size=2&period=12&ind_type1=0&ind_type2=0&ind_type3=0
CC, the whole history above and i've live the whole story and not many people been in since the beginning. The hype at IPO was off the scale as it was for most of AIM hopefuls but the 2008 crash put paid to the blue sky merchants, the Ponzi schemes, anything built on fresh air. I met with all the clan, Barker, Schoonbrood, McDougal and to be fair, they were a professional bunch but unfortunately limited cash and lack success soon put paid to any optimism. Our KO's involvement and the sale of Galaz was a real coup and imo, saved Roxi and gave them the funds to go it alone on the deeps. Sadly that has been a money pit to date and they are now at a crossroads re next steps. The MJF field has been the saviour, not going to make us rich but the barrier to dilution and the funding vehicle for the remedial deep work and ongoing shallow campaign.
You mentioned the cuppa the other day, why not a cuppa going back to 2007 75p high. More of a bath and handle than a cup and handle but not impossible as they have the assets to do it. Don't want to get the FK sticker but it won't take much to set Caspian off on a healthy run northwards. The deeps are dead currently but can Shin or a Partner change our fortunes. 3AB ? only time will tell and if they manage to generate considerable cash through HD @ MJF/Yelemes, maybe they can afford to take the punt on a minority stake in an offshore project as opposed to taking the charter cash. The Devonian has to be counted in or out too so much that a 75p price and 1.5bn valuation is pie in the sky currently, it's not out of the question.
No ramping yet but hopefully we have turned the corner and many bags to be had over the coming weeks, months and years.
Since 2014 https://uk.investing.com/equities/roxi-petroleum-plc-chart shows it has hit 10p ten times ..... history has a habit of repeating itself, don't know when but a three bagger against the back drop of rising oil prices.
Hits its 10 year low in Sept / Oct 2020, nearly bagged once since then.