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There you go 8-)) carry on
Buys in ascendancy and last two trades were buys.
Next news probably CR update or B8 licence approval. The Qazakstan Monitor article I posted the other day dated 30/4 re licence agreements highlights the 3 new exploration targets for 2024 to date. I’ve highlighted the important paragraph and we should see news on Abay block very shortly imo .
‘Plans for new exploration wells: Subsurface users aim to drill over 80 new sites in 2024. This includes starting drilling at the Turgai Paleozoic for a deep well reaching 5,500 meters to uncover potential oil and gas reserves. Work will also commence at the Abay block in the Kazakhstan sector of the Caspian Sea. The users also work to start drilling at several sites – Karaton (5,500m deep), Aday block (6,900m deep), Maksat structure (6,200m deep), Say-Utes site (5,250m deep), and Block A (6,900m deep).’
My bet is the next RNS will be an Op's Update confirming at least one of three wells are flowing (A5/155/806) and the CE/ B8 license will be still pending.
The BIG news will be if they've managed to get a Specialist onboard as it means if they can pull the stuck pipe out the flow rates should be 1,000+ bopd - which in turn means they can do the 90 day flow test, then have GC help book the deep Reserves on the NY structures along with the Airshagyl structure - both the A5/802 Deep Wells could come in around the same time, with the glacial paced 803 Deep Well nearing TD to boot.
Just to add the shallows had initially 48 million barrels of 1P/2P Reserves booked.
IF either of the 802/803 Deep Wells flow for 90 days on the smaller deep NY structure what could the booked Reserves be 100m 1P/2P - double+ the shallow structures?
IF the A5 Deep Well flows for 90 days on the larger Airshagyl deep structure what could the booked Reserves be 200m 1P/2P?
Remember WH Ireland have 305 million barrels of Reserves priced at £1.05 per share.
I'll have a bit of that.
Somm, It looks like there are some major changes coming up at CASP, I hope we, as PIs can hang on as long as we can, just here for the ride, some large private individual holders may change the SP with daily trading/sell downs, but in the near term it wont make any difference, have we had a boom recently? get your golden tickets? wouldn't want to be out of this over the weekend? cant think of any other rampy things 8-))
DM,
Yep, a lot of arms in the pie atm with CASP hold on to your octopus..... ;-)
Keep up the good work Somm, you must be top of the leaderboard now.
155 and 806 this quarter but I believe B8 comes first as will an update on the Abay block. 806 and 155 will hopefully add some production but as you state, it’s all about reserves from the deeps. If A5 was/is in play, that is hugely material as it then opens the door to a full blown CPR, especially if 803 flows or hey can fix 802 which was meant to be Casper’s best chance of success. Add in 3AB and it gets very silly as investor hype goes ballistic. It’s what we want but will it happen? We’ll know a lot more in the very near term. If they did get A5, 802 or 803 to flow, then BNG will get sold as the bigger boys line up. It’ll be their game then and the Orazimans do very well as do all who are riding on those coat tails. That’s what PIs are here for and hoping that the long awaited shareholder value creation happens this year !
Add inn3AB ? Need another drink ! Edit, Block 8 and if that happened, the billion barrel hype is in okay and this gets very stupid indeed.
SmartyP1,
I was going to add the two Block 8 structures being flow tested to add, but didn't want to over egg the potential Reserves number and scare peeps ;-) though if these two deep structures flow along with the two BNG deep structures then I think you'll need a bigger boat that comes with a captain ;-)
You should note that the 155 Shallow Well was at 1,000m six weeks ago and averaging around 30m per day with 1,500m to go, which is very fast for CASP. I've had the wells TD near month end and the 806 Shallow Well should be drilled pretty quickly as has happened with the other 2 of 4 Dolomite wells, so month end Op's Update RNS is very likely in my book with the A5 Deep Well spudded to boot.
Getting a Specialist onboard will be the icing on the cake.
The proposed conditional sale of the MJF and South Yelemes structures at the BNG Contract Area for a consideration of $83 million......