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So they perforated just the 5m to get proof that this deep well could flow, they wanted to prove up the new acid treatment, or they wanting to issue a Big Red Bus RNS?
Do we expect another note next, saying that they will now perforate at another depth? Surely they must do this before moving on/back to another deep well?
Could have been A8 stuck pipe n debris update, so 120 bopd is okay, but there’s still time for stuck pipe debris. The Rns does seem on the sketchy side but that’s the nature of Caspian Rns’s they’ve always been as clear as drilling mud.
So prospects for Caspian are getting better with increased bopd and oil prices firming. Numerous possibilities as we know, and they’ve been listed here many times, A8 is a good start to the year 10p by December?
Aaahhh, Roxi days! must admit thou i've more share today than back then......
Oh for the days when even rumours of a flowing deep to us to 24p
Half a tanker per day so far ...
Imo twitters better than fb or lse .. ot many promoting casp on there yet.
So is this one extra tanker a day worth?
Blimey George, you're giving it some welly on twatter.. lol
The horizontal drilling has proved to be a success...they have a deep flowing...a new international licence.... they have a boat to hire...they have the potential to pay a one off dividend for the sale of 3AB and further dividends from profits...lot to like IMO
120bopd per 5 metres of perf would only give us 3360 bopd....
Take out the excess drilling fluids that will still be being circulated and removed and I wonder if this hits 5k bopd ?
Bare even lol
Exactly Quay, this rns was more designed not to cause a spike. This is them being told they have to report something, so they report the bear minimum. A deep is flowing, hopefully his means they’ve cracked it.
MLQ the rns wasn't anywhere near good enough to create a dumpable spike.
MLQ ..
Kuat hasnt got his shares yet has he ....
Kazak nearly had a meltdown.
New 10.52% owner.
Why attempt to blow the doors off when you can ease them open.
No dust, no fuss, approach.
Maybe a smoke and mirrors rns allowing a uae spike to dump. Didn't happen so are pi's wise old birds.
For wider context he had said only 25 miles from tengiz, shallow and current deeps at similar depth does BNG HAVE same depths as at Tengiz ... someone asked about sulphur content, he said so far they gadng seen any at bng but that remained to be seen at deeper depths I.e. Devonian.
Taverham, we went over this a few years ago, the rns's ( as you would expect with Carver at the helm ) are all over the place with data we settled at an api of 38 to 43 i.e. light with low sulphur.
The Devonians were not discussed but Clive did allude in a meeting that they weren't sure if deeper structures contained any more or less sulphur.
but aren't these intervals deeper in the Devonian now ?
Jcb, ref composition of the oil, as i recall A8 flowed previously about 5 years ago with something stuck in the tubing and the well ceased to flow after they attempted to clear it. Nevertheless if you look back at prious rns' from then you will likely find one that gives oil composition and whilst it is a long time ago , in geological timescales it is unlikely to have changed. Lets hope it flows for longer this time!
It's taken several day to get this 5m interval flowing and approx 30 days to get it flowing since it was perforated.
With another 2 intervals to perforate/ flow test we could be here another 2/3 months before they have completed initial testing.
This RNS looks to have been rushed - why no details?
Muted reaction because it was as vague as humanly possibe. Come on Clive ‘several’ I know you’re not technical but surely you’ve mastered numbers!!!
I was thinking the same lbyb. It would have looked pretty suspect to have Al Marri buy in and then the next RNS is a blockbuster.
Most people don't realise this is a another structure underneath what we have found previously. It could potentionally double the reserve estimates for Airshagyl.
I can understand the disappointement of those who thought they were getting a bargain when the riots were in full swing and production paused. Seeing the SP at the same level after the riots resolved, operations resumed, al marri bought in and A8 flowed must hurt like a bi*ch. I did call you all insane for a reason at that time.
Fear not, the price disconnect will work the other way too. The herd will arrive with outlandish valutions and you can sit back enjoy thinking about how you are going to spend your well deserved profits.
KK, I think Clive may be attempting to prime the market. Dangle the carrot approach. Regain interest.
The next RNS is either going to blow the roof off or really supress the SP. I'm hoping it's the former.
Edit, bopm, not per day, that would be nice.
Company is in a far better position than at anytime in its history but disappointed with that poor RNS from a lack of clear info perspective.
I didn’t see much at all from that RNS and that’s why the sp hasn’t moved. I’ll say it as I see it, regardless of my stockpile !
An RNS that was lacking real detail and the content I was expecting.
A8 deep
One interval perforated, flowing at 120 bopd for several days. Perforations ? how many ? which interval ? depth, choke, quality of oil produced etc. These deep wells cost c$5m to drill and I believe they need to produce at 1000bopd min to be classed as commercial, there’s the reserves CPR to be done too. They’ve had almost 5 weeks since A8 initial perforation but today’s RNS does not give the info needed to assess any potential so yet again it’s a Carverspeak special and obfuscation continues. The good news, it’s flowing but as communicated in the past, we can’t trust the info. Not much that can be said until we know more.
Shallows
65k bopd whereas capacity should deliver 90k so they’ve lost 25kbopd somewhere. Yep, they’ve had a revolt and we don’t know how much that production has been interrupted ? yet again, no detailed info and probably producing at 2.4-2.5k bopd . Have to presume that revenues at 70:30 split but yet again no info.
Other deeps ? A7 spud, 802 spud date ?
No info on other wells on the MJF/SY as I and many expected ?
Barge ?
3AB
A poor RNS, as if they didn’t want to shout from the rooftops. Political unrest affecting reporting ? Personally I don’t think so. Back to minimal info and impossible to assess real situation.
The good news is that revenues are increasing, the company is now very profitable and are funded to drill more wells. The not so good, we are still in the dark on A8 and the deep program. If A8 doesn’t deliver, what’s the point in drilling A7 and A8. Do the remedial work on the wells drilled to date and drill more shallows inc the new structure at SY.
Was hoping for a clear, detailed RNS but after today, I’m back in mushroom mode and none the wiser.
Tick, tock.
I didn't see any info about the chemical light/sweet composition of the A8 oil
any ideas ?