Thanks for keeping an eye on it. I've been a bit lazy. I'd wrongly written this last quarter off.
CASP about to jack up their carbon footprint by a factor of 9 on MJF. That post has just one other like ... tells you something about the readership of these boards.
Lots going on in the background MO ... lots.
The slow progress of the past is a thing of the past. They've double thier income and will x4 that amount over the coming months. Even if there are further issues with the deeps we won't see the delays seen in previous years. They are also purchasing their own equipmenet - no more waiting for rentals.
Interesting competition ...
It doesn't offer much beyond WhatsApp which explains why Clinicians haven't ditched WhatsApp yet.
The integration with PACS is the USP for Bleepa. If I was Tom, I'd have FP working on Bleepa 24/7 adding more features.
Give the developers shares in Feedback as an incentive (what Zuckerberg did with Facebook).
They perforated the well on 7/8th Sept without incident (compare with 801 RNS where perforation resulted in borehole damage)
Initial flow rate allow them to apply for a flaring license granted sameday on the 9th. The license estimates rates of @2500bopd (same as 801).
Compare the difference between 801 RNS and A8 RNS. I think they've unlocked the deeps this time around.
The drilling fluids used to contain the high pressure in the well have been progressively changed to lighter density fluids in preparation for acidizing the perforated reservoir intervals. The acid work is expected to clean up any borehole damage caused in the perforating process and enhance the permeability of the reservoir.
Since then we have been gradually reducing the density of the drilling mud and will continue to do so over the next few days. We are pleased to report strong initial gas shows followed by a steady flow of oil and drilling mud, estimated at the rate of 400 litres per hour. We expect the drilling mud to be fully recovered in the next few days, after which we will be able to get a more reliable estimate of the flow rates, using a selection of choke sizes.
Drilled without incident. Perforated without incident
Flow without incident ????? Fingers crossed.
You really think CASP would get excited over 60bopd from a deep when our ****test shallow well produces twice that.
It's simply the rate the mud is being recovered at. In the past the mud had caused blockages and couldn't be recovered.
This time the steady flow means "We expect the drilling mud to be fully recovered in the next few days" and then onto the flow test.
A5 permit was applied for on 13 Nov 2017, nearly 3 weeks after it flowed 3500bopd in late Oct 2017.
This could suggest that they have perforated A8 and completed initial tests
801, A6 have never had a permit issued because with 801 the pressures never stablized and A6 didn't perforate.
A8 is the first deep they've drilled where they've gone straight on 90 day test. No sidetrack, coil tubing etc etc.
I'd send the crew for training at an Advanced oil well simulation center with one of their partners. They have enough data from the 3 A-wells to create an accurrate software model. So, that means, stop drilling at A8, do the training in a simulator and then come back and flow A8.
If only I coud check their procument records ... I'd know if KO has taken my advice.
By the end of the year we'll 60,000bol/month. 42,000 sold at $33 net will give us monthly income of $1.3mil.
That used to be CASP's annual turnover not so long ago and that we are still valued at 9p is a joke .... and bargain for some.
mrcautious .... I don't make recommendation .. just state the facts.
Since you asked. It's a good share for range traders. They like it beause they can bet big on CASP. It's not like other AIM stocks where you get diluted overnight or are unable to sell. You'll always get your capital back if you are patient. I like traders as they create liquidity. I only trade 10% of my holding which always gets reinvested back into CASP.
For me CASP is an investment. More so now that they have transitioned from explorer to producer. The risk element of them going bust whilst exploring is mostly gone. There is no other share I know where people have posted detailed research to the level we have on CASP. You really can make an informed decision on this.
If you look at the charts since KO took over the only way you would have lost money is if you bought the spikes and panic sold on the dips. You know the type ... who claim to be long term holders but have really high averages.
Even if you had bought blindly since 2012 at the end of every month including an unlucky buy at 22p in 2014, your average today would be 8.5p. You'd be able to walk away with your capital. You really have to try hard to lose money on this.
With just a little bit of active management your average would be much much lower. So I have no sympath for those who have lost money on CASP. They really shouldn't be investing.
Even without the deeps once they start booking MJF profits this will rerate. The interims are due in September, so I expect a big update then.
Anyone buying the first half 2019 - From 7p down to 4p was rewarded genrously. Triple bag for some. The wait wasn't that long.
Same with those buying in now. Give it 3 - 6months for MJF income boost to kick-in. Deep operations will increase.
They have approval and a contract to drill 5 more deep wells. There is plenty to come from CASP. Right now getting the finances in order is more important than operation. Cash is king.
Listened to the call. I have to say an overreaction by the BB here (which I got caught up in) Were you expecting to get laid or something.
It's a very good summary of where we are and where we want to be in the next few years. It's not meant to be a sneaky operations update.
- MJF income is now double rising from $15/bl (net) to $30 (net). CASP have a 25 year production license for this.
- Production will double with infill wells - 4000 bopd by the end of 2020.
- Infill drilling will start in September when money from international oil sales is received.
The successful completion of the MJF project and therefore the increased cash-flow
means that the company can now be grown without the need of external funding.
- All 4 deep well are in play. A8 and A5 to be flowed first.
- 3A-best surrounds and goes under the dunga field (developed by Total).
Total are producing 14,000 bopd from it. Phase 3 launched to increase to 20,000 bopd.
There is an opportunity to sell our license rather than develop it.
JoeSoap, I prefer to look at official government documents which carry a prison sentence if falsified. The Kazak government has a bit more bite than AIM regulators.
My understanding of those is that CASP/BNG are in very good shape and plenty of upside to come. Clive's antics are nothing more than an opportunity for the Kazak & Koreans to trade at the expense of the misinformed British investor.
Operations A5 beauty parade, Radio silence, Matched selling, A8 live stream and Conference Call all designed and executed with a purpose in mind.
CC - This is just like A5 side track denial. Clive kept saying no decision taken, but the tender said otherwise.
MJF ... Clive kept saying imminent ... Elicense said July/August.
They are buying time, so they can test A8 without informing the market.