Sapan Gai, CCO at Sovereign Metals, discusses their superior graphite test results. Watch the video here.
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SmartyP1,
Since the MJF for sale news was RNS'd I've been thinking about the 'what if they decided to buy back shares option' having a huge cash pile from the MJF sale plus CE dosh.
If they do get any where near $200m for both MJF shallow structures they could easily buy back say 1 billion shares for $50m at 4p per share today, though by the time that happened the share price would most likely be in the double digits range with what's going on in the short term, so probably a lot less shares would be bought back by then if they took that option.
My guess it once they've finished with 801/A6 Deep Wells (this year?) the MJF dosh will mostly be used for their BNG appraisal program and Block 8/ WS drilling campaigns and possible mineral mining/ wind projects as indicated.
I hope an appraisal program fast tracks a merger or take over.
What's also interesting is CASP haven't done a new CPR for the shallows in 8 years? so how many 1P/2P Reserves do they have now - the date room is open so may be the buyer could have a 'potential' guess?
WHI have 1P/2P Reserves at $8 pboo when CASP were getting $16 pboo for local sales, they are getting $33 pboo today and can now sell the shallow oil internationally with 70k lifts per months, giving them more than $33 pboo.
I'm thinking my $200m guestimate for both shallows could be too conservative.
If a sale goes through for the shallows we'll get to know what KO is asking for 1P/2P Reserves per barrel.
would the give us an idea of what the BNG deeps
West Shalva, is to repay the concert party what they lost on the sale of the Caspian Explorer.
$15m, $10m in stock held in the accounts of the UAE company and $5m as a cash bonus to spend in the UAE on Golf.
25Sq K of camel and an old seeping well of water and oil that the previous owner didn't plug and abandon correctly.
The rest of it looks very decent at the moment.
Contd
If they do generate cash then it gives them the opportunity to grant a special divi or who knows, they may go into share buy back mode.
Next few months will be defining for Caspian. We're getting to the conclusion stage on many assets and plenty of news in the coming days, weeks and months. Time to start generating cash to reduce those liabilities and if they do sell BNG shallows or even the deeps, what do they do with the cash ? I suspect that they buy more assets, easier targets (allegedly) like WS where hopefully their skills snd capabilities are a match for the asset to be drilled.
SP @ 3.4p ? regardless of success, the sp will run again as peeps talk it up as news nears. Hopefully this time the hype will be met with positive news that finally strengthens the foundations. If they do deliver success, you can expect to see ridiculous hype here, long overdue for those invested for years :)
Back from a nice little break in CA. Can't believe how expensive it is now !! Need our Casper to start delivering the 'shareholder value' they've been promising for 18 years!
As has been stated MANY times, there's a lot on the go that could finally improve the NAV considerably and create that shareholder value that is long overdue.
23 Financials will be out in June and we're going to see profitability BUT liabilities increasing due to increasing loans. Now is the time to turn that tide and reverse the dilutive process by generating cash. The next few months should see inflows from various sources.
Firstly the B8 contract. The licence approval could be imminent and if so, we can expect to see loan repaid and the first revenues from existing production, to be followed by the testing on the 2 new deeps and hopefully some success at long last.
Next to the CE. A couple of links below show that Abay well is going to happen and hopefully that means the CE is still the preferred drilling solution. If so there's $10m+ coming our way and probably more as the drilling time allocated is probably too optimistic so I'd be expecting more than the 10m profit.
https://emea01.safelinks.protection.outlook.com/?url=https%3A%2F%2Fqazmonitor.com%2Fnews%2F2916%2Fhow-kazakhstan-revamps-its-subsurface-management-in-2024%3Famp%3D1&data=05%7C02%7C%7C15e84f1eb9ac4fdedf9208dc6d86acfe%7C84df9e7fe9f640afb435aaaaaaaaaaaa%7C1%7C0%7C638505672400548442%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&sdata=t57PmwrWRXu625JRAQn7%2FV%2FiSnmHt0oFIehSwyeFibg%3D&reserved=0
https://interfax.com/newsroom/top-stories/101875/
Both recent publications and stating that Abay exploration still planned. Will success at Abay mean more work for CE or will Casper trade cash for a small % of the bigger projects ?
Next the shallows sale ? They've announced the possible interest in the shallows yet they're completing 803 before applying for a production licence on an acreage ie the BNG deeps that has produced zero to date. Yes, all wells bar A8 have flowed but could any future sale include the deeps ? Either way, there could be a significant injection of cash, my concern would be whether it's more than the NAV. The big question, are Casper capable of delivering deep success ? I'm not convinced and maybe their success will come from buying and flipping assets for a considerable profit ?
Other sources of cash ? increased production of course and who knows, 803, Block 8 or any other deep like A5 would obviously transform the landscape but that's not immediate.
Our new Camel acreage at WS. The oil is allegedly seeping to the surface and it will take little time to drill a well and if successful, cash inflows could happen far sooner than at MJF. Infrastructure far better too and less transportation costs improving profitability.
If they do generate cash then it gives them the opportunity to grant a special divi or
Shame they didn't have Tim Field to plan the tax loophole strategy years before.
Better to mitigate all risks in life, do the job the easy way.
Jimmy - as a point of interest if you have 10 min I would recommend you look up the story of Ienergizer. Ok a bigger share than this, but like this share owned by a family and headquartered in Cyprus. They got around many stock market rules by spreading shares across the family and then delisted the share onto JP Jenkins, thereby totally stuffing any remaining shareholders as they collectively owned circa 70% of the equity. SP went from circa £3 to 50p overnight (if you could even trade them) even people like AXA Framlington got done !!! Then there is the BCN story which many on here know - this is all legal fraud !!
We are all here because of greed, that's us, the Al Marris and the concert party.
Could this go bust or be taken private, have a revolution or be nuked by Russia ( all of Western Europe under same threat ) ?
Of course it could.
We are investing on AIM, for the opportunity of massive multiples, that on its own means there is risk.
West Shalva, complete 9iss take to extract $15m to repay what he / they lost on the boat imo, but it shows how valuable this listed entity is to their plans.
Comparing us against the other AIM oillies, I like Pxen as a safer investment but it hasn't got the opportunity risk vs reward that CASP has, and is possibly already overvalued?
Nothing else on AIM has the multi bagging potential of CASP.
Delt was going to do amazing things - it's in the North Sea - Fubared, very safe political jurisdiction but currently un investable and therefore unrewarding.
We all know IF A5,A7,802, or 803 comes off and the boat hire goes ahead in Q3 along with the possibility of a major buying into 802 and taking all of MJF for $100 - $250M ( depending on your fantasist level ) we go back to 20p+
For all the whinging and all the whining we are all still invested here - that tells you all you need to know!
Been in this long before a5 oil was shaken the storage tanks
Jimmy - Its easy for you to say this but how long have YOU been in this share ? How long have YOU watched all the twists turns and theories that never came true ? It is patently clear that this company has a very divisive shady way of doing things. But if you just bounced in in the last couple of months I apologise of course !
A5 flare licence doesn't start until tomorrow, not expecting news for a while, price may slide if traders get bored.
Conversely you may see some workers calling home or emailing Carver?
Hope it is would like to add a few more at this price
I hope its not another week in the paint drying factory 8-((
Ha ha ha 8-))
He said Al Marri not Al Murrey
Yes George, you have found me out
The Marar (singular Al Marri)
In 1890, under Zayed, the Marar and Manasir tribes were involved in a series of raids on the coast between Abu Dhabi and Dubai, capturing 400 camels and 100 horses.
The Marar had also settled in Dubai and under Sheikh Rashid bin Maktoum of Dubai, in 1891, some 400 men of the Marar, considering themselves ill-treated by Rashid, ended the pearling season by sailing their boats to Sharjah and subsequently settling there.
While the Marar of the towns were traditionally pearl divers
With thanks to Flawless Kicks wife for the info on pearl diving.
Mike, are you an Al Marri?
They don't need to rug pull.
Usually AIM rugs is to get the value into private hands.
This lot have done that n a listed vehicle and set up the ownership and tax structure to maximise the return.
Note the Al Marris interest.
I think a good post . Does not suit us but not a zero probability. CP and Minority interests are not full aligned. I don’t think it happens or we would all have been zeroed years ago
Change your name to Mr negative I think it's more suited to your posting
Im wondering what AIM technique this rather dodgy board will use to pull the rug from under the ordinary shareholders.
Mike it will have to be the 1/4 pound party. I'm not sure we ever see a pound.
Belles,
I use oil to cook my sausages not Brasso. 😉
Fast forward that article to today and 8 deep BNG wells now drilled they'll have a decent idea of what's down there, 802, 803, A5, A7 should flow this year with rigs being freed up to drill the 801 and A6 Deep Wells to boot.
2H should be fun.
I knew you lot would drag the conversation into the gutter, as soon as roast and spit were mentioned in the same post 8-)) Rob, Im up for a site tour to see where my money is going .... or coming from are we still coming over to your place in Florida?
It does to the US only in Canada its Moose Knuckle !