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Well 143 7 mm choke 815 bopd. Remember that? What ever happened to those rates.
Isn't Yelms where they tried a new layer never produced from. They had a good flow and were going to drill a horizontal. Then they never mentioned it again. Hopefully that is still on the table. Hopefully it wasn't at the license they gave back.
New shop opening in Almaty tomorrow.
Cusps RUS
Opening postponed.
Opening cancelled or maybe postponed, Clive isn't technical enough to open the door so has had to delay the grand opening to go and ask someone what to do and say.
...lol. Maybe a third rebranding exercise, On The Cuspian Ltd.
UC, i believe we have turned the corner and it was an achievement to survive Covid and i suppose that's down to the crude price which avoided heavy dilution. I'll take 800k+ bopy at this stage and it's well needed cash flow. We all know MJF isn't going to make us rich but it certainly keeps the wolves from the door. We will break 3p and down to Caspian to deliverthe news flow to send this back to a sensible valuation.
I have always thought, given the catalogue of bad news and bad communications, that it would take more than one piece of good news to get this share going. The earlier news about the boat and 3AB seem to have been enough to stabilise the price and yesterdays news seems to have given us a lift, but for serious progress the market needs more confirmation that CASP has turned to corner.
CASP is still on the cusp, but its getting cuspier.
Also good to see the volume picking up although i was hoping for more today. Good to see the churn as important to get the sellers out whether trading or leaving the ship. Only 860k traded but 2:1 in favour of buys and hopefully the daily volumes continue to grow. Bid has improved slightly to 600k @ 2.75p so a few more buys and this will tick and hopefully some positive answers to shareholders questions continues to lift sentiment/credibility.
If i can take this 645 bopd as gospel and use the 70:30 split/$45 netback and $12 for domestic (probably higher on both counts), then it does drive incremental revenues of $8m+ , that's a 60% hike in revenues. Would like to qualify out the 'most' statement so maybe another question to ask in the shareholder questions forum. I've asked enough.
Add in the shut in 300bopd @ SY at the same financial split as MJF and that adds another $3.85m to the turnover. MJF capacity was 1300 bopd so if they could produce annually at that rate, annual production would be 474,500 bopy, down from 546k in 2020 BUT add in the addition 945bopd from 154/SY then that adds 344,925 bopy and total production volume of 819,425, a 50% increase on 2020 numbers !! Yes they have to sustain flow rates but they have 14 or15 more wells to drill on MJF, they will use the same techniques at the Yelemes structure and who knows, maybe at A8 and the other deeps as they are planning to frack there too.
This stock has been depressed for years and as far as i can see, it's in a far better position now than it was in 2019 when so high was 14p. The loss of the deep opportunity or should i say the loss of credibility/sentiment from continued failure has damaged investor confidence and the sp. If Mr Shin is making a difference then he needs to articulate how he's going to change the deep saga and deliver that long awaited commercial success.
Add in 3AB , a poke at the Devonian and a lucrative barge rental, it won't take much to send this sp back to the 2014 26p levels and beyond. Getting ahead of myself, probably but it won't take much to restore the hype here and i would say it's long overdue !!
Good info on the horizontal drilling CC but does it mean that P1/P2 numbers can now be revised upwards. An important question .
Can they sustain the flow ? If they can then that is great news but I’d like to see that revised IP , a real document that makes Caspian investable. 15 more horizontal wells ag healthy flow rates, maybe the original 8k bopd is not a pipe dream. Let’s hope that we’re not disappointed with huge depletion rates but only time will tell.
Currently, our Caspian is a steal as it’s not on the investor radar. Needs a revised IP and done PR to get it out there and volume will return if they continue to deliver positive news.
Thanks for the TA stuff CC. At this point that is what a lot of new investors will be looking at.
It will be interesting to see of the sells dry up. Not a lot in profit at this level.
Bollinger Bands are tightly compressed from lack of success.
8,34,50 EMA all tightly packed at 2.4 to 2.8p.
Pretty obvious when something has been so beaten down, but any confirmation of continued flows and flow rates holding and this can start to really gain traction.
There was a jump in the volume yesterday but it has had far higher volume days before, if the volume comes back in with renewed confidence would look for a cup and handle to form at 4 - 4.9 area, if that holds and keeps the support ( i.e no more F ups from Carver on his technical info and clear concise info is given to invest into ) then back to 8p is highly possible.
Casp has been a dog but maybe this one horizontal will be the start of the climb back up the charts ?