Cobus Loots, CEO of Pan African Resources, on delivering sector-leading returns for shareholders. Watch the video here.
Pound party about to happen on #ODX. A decent company will always build value. It's been a long journey. They had a placing which caused a 50% drop but I knew they wouldn't waste funds on salaries and payouts to companies owned by the CEO.
I took part in the placing and requested more than my quota - which I got and bought further on the open.
Sadly all the traits of a value builder are missing from Kuat and Clive is happy to indulge his stupidities. Frankly, if Kuat paid $0.5mil I'd be no different to Clive.
Our only hope here is KCE and 3AB ... should see some news on that front soon.
I've written the next RNS for you.
- A5 Coil tubing stuck - needs side track to get around
- A6/A8/801 - waiting on specialist equipment
- MJF 151 - at TD ... preparing to flow
Can't sell much oil at intl. prices as we over promised to domestic traders on future production we don't have.
... and Tim's doing what he does best.
Feel free to edit/improve ... most welcome.
this is interesting
https://www.cv-library.co.uk/job/212281307/Integration-Engineer
means they are eyeing up lucrative bespoke integration work ... the team being assembled isn't just so that someone can download an app on their phone .. looks like they are going for the bigger digital transformation contracts as bleepa holds open the door.
There appears to be a spring in Kuat's steps recently ... he's either spotted an opp or has gone mad.
KazMunayGas built CE with the Koreans, so if they are venturing back out again in 2021 with BP then CE will sail once more.
http://casp-geo.ru/burovoe-sudno-caspian-explorer-provodit-raboty-na-dne-kaspijskogo-morya/
https://rogtecmagazine.com/bp-set-to-return-to-kazakhstan-after-11-years/
https://inbusiness.kz/ru/last/kazmunajgaz-i-bp-mogut-podat-zayavku-na-geologorazvedku-v-kazahstane-v-i-polugodii-2021-goda-kmg
Time for Kuat to redeem himself and stick his boat in to these projects.
STK Geo Limited Liability Partnership*
*Following a rehabilitation procedure in relation to STK Geo LLP, the company was liquidated
Despite all the business from Roxi/Casp he still managed to run STK Geo into the ground.
During 2017 the Group had purchased drilling services from the related party STK Geo LLP, the company registered in Kazakhstan, which is owned by a member of Kuat Oraziman's family (2016: US$4.4 million). As at year end the Group has prepayments made in the amount of US$2.6 million (2016: US$2.4 million) and trade receivables in the amount of US$92,200 (2016: US$69,300) in relation to STL Geo LLP.
During 2016 the Group purchased drilling services from the related party STK Geo LLP, the company registered in Kazakhstan, which is owned by the member of Kuat Oraziman's family, in the amount of US$4.4 million (2015: US$4.8 million). These expenses were capitalized to unproven oil and gas assets. As at year end the Group has prepayments made in the amount of US$2.4 million (2015: US$4.9 million) and trade receivables in the amount of US$69,300 (2015: US$67,900) in relation to these drilling services.
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During 2012 the Group purchased drilling services from the related party STK Geo LLP, the company registered in Kazakhstan, which is owned by the member of Kuat Oraziman's family, in the amount of US$2 million (2011: US$ nil). These expenses were capitalized to unproven oil and gas assets. As at year end the Group has advances paid in the amount of US$237,000 (2011: US$826,000) and trade payables in the amount of US$220,000 (2011: US$ nil) in relation to these drilling services.
Their deep well,
"ASH-2 well, which was announced in January, and which is still producing at over 3,000 bopd"
El Salmiyah-5 early flows at 4,100 bopd.
No broken pipes, coil tubings or RPT in sight.
CASP (50M) is starting to look very expensive against it's peers ...... or UOG (20M) is super cheap.
smasher so telling lies like "acid is on site" and "they are holding back on the deeps" is ok.
I'm not going to do this company's dirty work by ramping it so they can sell into it.
What I have posted is genuine research. Their own broker thinks it's worth 2.75p. Why don't you pick up the phone and have a go at them for such a low ball offer.
It's a public company and I have a right as a shareholder to criticise their actions and let them know no more related party transactions, no more BS.
I want the price to rise but only because of geninue operational progress confirmed by an independent CPR.
jmr hope you are not bricking it already.
IMO, BoD will want to exit their 3.2p shares first and then the placees at 2.75p. Nearly 50mil shares to be dumped ... same as the rig seller who caused a 100% drop. The boat guy might want to join in too. What will that do to the sp from this level.
It's not held the support at 2.90p .... so where's the bottom now??
interesting. didn't notice that before.
So let me get this straight ... KCE (o/b KO) lends money to Casp (o/b KO) which is used to pay KSEK (o/b KO) and then Casp (o/b KO) pays them both in shares to buy out their assets (o/b KO) ??
Awax, it's worth a try but not at the current price. We've doubled the number of shares since the first A5 spike.
The 6p floor back then is now 3p. However, we have now spent all the Galaz money & Kairat's $40mil. Buried in taxes and oil debt. It's too expensive for the risk.
Would have been a different story if they had dveloped MJF in 2017/18 like they promised in 3 buses presentation.
Their refusal to release the MJF CPR, declining production and delays on the long overdue workovers has cast significant doubts on future of MJF.
If their nomad gets 2.75p then why should I pay 2.95p
dhb ... balances aren't cummulative but credit/debits are. You've used word "balance" where as Clive hasn't.
We can both agree that real money in millions has left CASP and into KSEK.
No shallows drilled in 2019 and no workovers. A8 drilled by Sinopec. Where did that money go?
I'd like a breakdown of exactly what KSEK did for CASP.
I know Clive's response will be since you are speculating about what happened, we'll just stop telling you about any RPT in the future.
excellent recovery from the covid lows. New highs, as investors understand that post covid the world is digital.
Switching to production license triggered historical costs tax.
http://www.buhgalter.kz/nalog/module_1_3_19_3_4.htm?st=MA%3D%3D&sct=MA%3D%3D&mw=NTk5&ms=CQAEAAAAAAAAAAAAAAAAAAAAABJABA%3D%3D
Next payment due is end of August around $750k. There are a ton of other taxes payable regardless of whether they sell oil or not (social tax, property tax, income tax etc ... paid monthly).
KO didn't manage the transition but I blame his advisor Clive who should have warned him not to feed his private businesses and interests a the expense of CASP. He should have stopped all related party transactions.
"During 2018-2019 the Group had purchased drilling and workover services from the related party KazSmartEnerKon LLP, a company registered in Kazakhstan, which is owned by Kuat Oraziman, amounted US$ 3 million (2018: US$4.2 million). These expenses were capitalized to unproven oil and gas assets. As at year end the Group has prepayments made in the amount of US$ 0.5 million (2018: US$2.9 million) in relation to these drilling services."
Where has this $3.4 mil gone ??? Do we still owe the remaining balance of $3.8mil.
Was the oil sale at $10 a related party transation too? You just can't tell.
They could have raised at 12p had they looked after their long sufferring holders.
Instead they threw disparaging comments at them at every oppourtunity.