The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
https://wp-caspiansunrise-2020.s3.eu-west-2.amazonaws.com/media/2022/07/CS-2021-Accounts-GM-Circular-24-6-22-Final-word-PDF.pdf
Anybody going ? An opportunity to have a 1:1 with leadership . Not sure who’s going but probably Clive and Edmund ? Possibly some news pre the event ?
CC, shouldn’t be well attended, maybe an opp to have a sensible chat .
Hi Phil, as much as I would have loved to attend, the practicalities of getting by backside up from a shipwreck half way between Anglesey and Ireland and down to London in a few hours may be a little challenging, I would hope anyone attending will ask some very searching questions about this darling company of ours, a shining light on the AIM market that we all love and cherish, and Clive ............. what can we ask of Clive, I would like to start sending him birthday cards and Christmas cards ...... I love that guy 8-))
The Resolutions
Resolutions 1 and 2 will be proposed as ordinary resolutions. This means that for each of those resolutions to be passed, at least fifty percent of the votes cast must be in favour of the resolutions.
No point in trying to engage with them, sit back and wait for Ker - Ching.
Hi Mike, bleeding eck, you do love a spot of diving. Not for me, the sea is warming and you’ll be seeing all sorts of creatures with big teeth hitting our shores, especially the south west. Last time I was out off Salcombe, one of the boats caught a couple of large tuna ? ?
I’ll stick with the land lubber status, looking for those neon coloured cyclists. Ordered a new motor that should wobble a few as I slowly edge past ;).
News this week ?
Phil, there are more Sharks on here than in the sea 8-))
There definitely are !!
Market very tight @ 3.21-3.22. The buys are at 3.22/3.23 and sell at 3.21 but no volume. Everybody waiting for the next news to and maybe tomorrow pre Wed meeting ?
Crude in the mid $90s deciding the next leg of the journey and would be good to understand KEBCO impact.
Putin at risk of escalating conflict with the Zaporizhzhia shenanigans. Key stage of the war along the Dnipro river, 350km frontline and could be the deciding factor in the war.
Never boring !!
There was a moment when I was getting quote for exactly 3.20 for both buy and sell
.....seems like people are selling before the good news on Wednesday lol...
If you get people believing we're going to be taken private, McQueen, then we will be lower than the mid 2ps. I believe no such thing. We have been here many times before. This share drifts down with the absence of news and always has. I'm going on holiday soon and will be back in September. Until then I shall chill in the heatwave
Looks like an RNS in the morning and a not too favourable one at that, same trading pattern as previous bad rns's
Definitely a bit of PI capitulation down here and some shrewd peeps picking up c 500k at close of play.
I'm focussing on the facts as i see them and unless they're lying, we should be producing c 4000bopd (capacity) from existing wells and 141 should add to that unless it's had problems. Regardless, they're producing c 3x previous production and crude in the mid $90s but no ideas of current netbacks, yet.
Meanwhile, while Casper wallows, TXP had some positive news today and PANR is edging northwards. Shel also doing ok although VTY and RR are lagging behind.
C'mon Casper, time for you to go on a positive run.
Somebody’s gone and traded 1m at 3.29p ...is the world full of fools?
Belles,
No fool, that 1m was a buy.
I agree that was a buy. KK no chance we are producing at 4000 barrels per day - that’s capacity which we haven’t bother to try and meet
Agreed Beynon, but 3k bopd is a likely minimum at present and 4k bopd should be easily acheived by the end of the year. Perhaps we shall find out a little more tomorrow.
If it was 4000bopd in May why would it be 2-3000bopd in August...doesn't make sense?
From RNS 27 June 2022.
CASP were producing 3,750 bopd and are aiming for 5K by year end.
‘’All of the oil produced in 2021 was from the MJF structure. The production capacity at the MJF structure has increased to 3,750 bopd, with seven wells producing and a further two wells planned before the year end, including Well 141 which is due to re-enter production shortly following a horizontal drilling workover.’’
‘’Our target with these new wells is as soon as possible to increase production capacity to 5,000 bopd solely from our shallow structures.’’
‘’In 2013, we announced the discovery of the MJF structure and have subsequently drilled eight wells of which seven are currently producing with an aggregate capacity of approximately 3,750 bopd.’’
‘’ Current production capacity
· 4,000 bopd’’
JD,
Absolutely !! Communication from the company as below. Also added the Divi commentary from the accounts ie distributable reserves set aside and regular payments. Some peeps are getting down on Casper, i'm just continuing to nibble away as i can't believe we're down at these levels again, each to their own.
From FY accounts
Shallow structures
All of the oil produced in 2021 was from the MJF structure. The production capacity at the MJF structure has increased to 3,750 bopd, with seven wells producing and a further two wells planned before the year end, including Well 141 which is due to re-enter production shortly following a horizontal drilling workover.
Following the award of the export status at the South Yelemes structure we have been able to re-open wells there, which were shut in for the whole of 2021. The production capacity of these existing wells is approximately 300 bopd. As noted above we plan to drill a new well at a depth of 2,500 meters exploiting horizontal drilling targeting oil in the dolomite.
Our target with these new wells is as soon as possible to increase production capacity to 5,000 bopd solely from our shallow structures.
Investor Presentation
Production capacity approx. 4,000 bopd from BNG shallow structures & targeting 5,000 by end 2022
From FY accounts
Divis
We have worked to create sufficient distributable reserves to allow dividends to be paid. This required a formal Capital Reduction to cancel the share premium account and the deferred shares to boost distributable reserves. The Capital Reduction was approved by shareholders in April 2022 and approved by the UK High Court in June 2022.
The Group then expects to declare and pay dividends on a regular basis, subject to the comments set out in the Chairman's Statement.
McQ, we'll soon find out and we have Interims due September so we'll have a clear understanding of H1 volumes and YTD.
Meanwhile crude heading north again and as we all know, soooo many variables affecting it. Reuters announced last that volumes substantially reduced through CPC from Tengiz and Kashagan (see link below) Kashagan operated by KNOC but Tengiz going through maintenance work or is the real reason the CPC and Putin applying pressure.
Kaz exports going up first 5 months this year but i suspect that the oil sales will be hurting if Tengiz, Kashagan offline. Putin will be applying pressure where he can but he can push Kaz closer to the West and China if he overplays his hand. News reports stating that Russia could've lost 80-90,000 troops to date in the war and there's a long way to go yet. He's not going to be able to expand his borders especially if his war machine is damaged. Wagner were hidden until recently but now they're advertising openly that they're arounfd and need more recruits to fight alongside the legends in the industry !! The longer this goes, the weaker Russian ground forces become, something has to give soon.
Also looking to ban Russians from travelling, should've done this some time ago as it will create unrest amongst the elites and the Russian people.
https://astanatimes.com/2022/08/kazakhstans-exports-significantly-increase-in-first-five-months-of-2022/
https://astanatimes.com/2022/08/bolashak-onshore-processing-facility-suspends-oil-production-due-to-gas-release-at-kashagan-oilfield/
Basically Caspian is a we don’t know. Putin can’t start having a go at another country until he has sorted out Ukraine, and that isn’t going to happen anytime soon.
Any reliable future rumours of Putin`s demise or overthrow would put CASP in the buy quick but speculative category. Just my view, currently not holding.
Tengiz-Novorossiysk pipeline is in reduced mode not off line ..Oil field maintenance we have to take at face value. As stated this is Urals oil and the discount for Urals is reducing becasue of strong demand from India and China.. So what was stated in the RNS of June 6 is bang on target
https://www.livemint.com/news/world/russian-crude-oil-prices-recover-on-strong-india-china-demand-11659915654182.html
https://www.inform.kz/en/cpc-significantly-reduces-oil-shipment-via-tengiz-novorossiysk-pipeline_a3962821
Of course there is the matter of Deep Well 802 . We have till the end of Sept to find out if thats bang on target. CASPIAN wunder waffe hopefully. I dont think there is any political uncertainty regarding Ukraine any more.. Its possible more about politics in Kz - Their news agencies read like government press handouts . There seems to be a lot unsaid
Still the downward drift in the SP since May is surprising .
Russia and the UK have one thing in common: they have both seen an end to Empire. We're further along the in process but like Russia there are all kinds of anomalies and historical curiosities and people have moved around so that there are no simple solutions. There was however a majority of ethnic Ukrainians in the Donbas area before the war. There was a majority of Russians in the Crimea, although the displacement of the Tatars contributed to this. The Russians did however agree to the territory of Ukraine as it was before 2014 in return for Ukraine givingup their nuclear weapons.
Hold on a sec ! What you do not factor into your opinion is that the Russians have done many many things to 'tune' the ethnicity of the region to suit their agenda. I've no doubt that there were some people in Donbas who were for felt Russian ethnicity, but that like saying parts of North London are Israel. After the annexation of Crimea the Russian have gone all out to interfere with the Donbas region and then to complain about fake referendums not being recognized. Its hard to not renege on anything someone does whilst clearly taking aggressive military and insurgency action.