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All gov websites re-branded in black. That's a a nice touch
https://kgd.gov.kz/en
https://www.inform.kz/en
It's not the same Kaz anymore, Corporations will need to toe the partly line, visibiliy, from now on.
And Clive will have to do better than that RNS. Were BNG employees/contractors engagaed in "terrorist" (not my words) activities? Shareholder and have a right to know.
BTW, I'm happy for those who held or bought more. You lot were insane and had no idea how bad it was in Kaz but you can all breathe .... for now.
KK, you are confusing two issues. The future of CASP and the future Kaz. There will be some casualties from the turmoil.
CASP's history shows they fall at the slightest bit of trouble. They are not resilient. KO might decide he doesn't want to deal with any of this, de-list and move on.
Also, the Americans are strong enough to carry on in all out war anywhere in the world. The comparison is flawed.
sadly internet/comms is still down and protestors have serveral cities under control.
Other than Russia CSTO member states could spark riots in their own countries if they send troops as thier people are siding with the Kaz people.
Armenia has also sent armed forces. I don't think the protestors will win this round.
All this help will come at a cost and some serious questions need to be asked why the Kaz army and police were so quick to defect. I suspect islamist infiltration has played some part.
Things getting back to normal. The gov websites https://kgd.gov.kz/ are back online, can't have protestors disrupt tax collection.
somm, Clive gives a different figure every time and it's different in the AGM Q/A.
I'd expect production, storage and tx cost to change/reduce as CASP improve their infrastructure. But that's not my point. You can take $9 or $4 or whatever you want. I'm not disputing any of that as Clive will give you a different cost everytime -s o just don't know.
Firstly I'm only taking about export and I'm saying your $29 includes export tax/duties.
In your calc that $30 ($63-$33) is taxes - Again if not then what is it?
somm
I'm guessing this is the source.
https://www.caspiansunrise.com/operations/bng/
"From September 2019, approximately 70% of the oil produced from the MJF structure will be sold by reference to world prices. For example, at world prices of $63 per barrel we would expect to achieve around $33 per barrel before production, storage and transportation costs and $29 per barrel after these costs."
If $63 to $33 doesn't include taxes, production, storage and transport then what cost is being counted?
It has to be taxes.
somm when oil was at $40 Clive said that net was $31 and after all taxes it was $23.5
At current prices net would be $35 after all taxes (except for BNG historical tax $3mil/yr).
On that basis net revenue is easily $30mil/yr.
I'm expecting a trading statment in the new year that will push this into double digits if it isn't there already.
We were a 250mil m/cap company not so long ago. Since then;
*Oil prices have doubled
*Horz drilling works!
*Production is the highest reported to-date.
*The worry of not being able to fulfill BNG license obligations are gone - permanently - no Carverspeak there.
*The barge is useful after all and A8 has confirmed what we was saw on the siesmic in 2019.
https://twitter.com/adrianz_invest/status/1112720084877930497
There's another Airshagyl field down there. I think the pound party is back on again.
FOMO kicking in earlier than I thought.
galaxybar, I've held these since IPO and this volatility isn't new. Days like these have always been buying opps.
Look out for automated trades ... they can walk the price up or down. Those who sold out will be looking to get back in as this is one of the better companies to be in on AIM. Not everyone can time the bottom, so FOMO will kick in.
KK,
$41k errr .. it's not the Ritz... it's just a container with a toilet and a kitchen.
I've seem them for NW Yelemes ... haven't seen anything for SY since it's shut-in. Do you have a link?
There are usually tenders for waste removal from the toilets from each of the fields. Haven't seen that one either for SY.
If I'm right one will pop out soon enough.
There's a good toilet/clive joke in there somewhere ... sorry suffering from writers block today ... so annoying.
Crew ready to head back to SY?
https://www.bicotender.ru/tender201766758.html
LLP "BNG LTD" (BiNG Ltd) announces a tender: Integrated household services at the Yelemes South field in 2022 (with the result)
https://www.bicotender.ru/tender201422318.html
At $6mil it has to be deep well 802.
Oil prices up
Production up (RNS, tax return)
Oil export to domestic ratio improved (RNS, tax return)
Activity on the ground increasing; drills, pipelines & general construction (elicense and bicotender)
Hiring engineers; two recent vacancies
http://employmentcenter.ru/vacancy/?action=read2&id=742415
It's looking good on every metric you'd use to evaluate a company.
KK, I wouldn't get too hung up on 153.
Did we ever get flow rates for 142 and 146?
https://www.lse.co.uk/rns/CASP/operational-update-t6021meixmaxpbh.html
Yet we know that they are now producers.
https://www.bicotender.ru/tender200809392.html
https://www.bicotender.ru/tender200809390.html
153 may need some extra work but they'll crack on with 144 & 146.
The bottom line is they are bringing in $$$ with little overhead.
If revenue was $14mil for 2020 (where they only exported 4 months out of 12) with the worst oil prices we've seen, what do you think revenue will be for 2021? .. and then look at the mcap.
KK,
I can tell you where but not how.
The source is the Ministry of Finance.
https://kgd.gov.kz/
Enough information in there to you keep busy for months.
The bit you want is this;
https://kgd.gov.kz/kk/content/salyk-toleushinin-zheke-shottarynda-tolengen-somma-turaly-mlimet-usynu-kyzmeti-api-servisi-1
Lets you snoop on any person or business. God bless communism. You'll need to a create an account with them. A bit hard as you are not a Kaz national.
Kuat has put all his eggs in one basket, not just for himself but for his whole family. He'll make it work.
From what I can see they are making all the right moves. Fixing the roof while the sun is shining.
Covid couldn't have come at worse time for them. They got hit by the BNG charge and were maxed out in debt to local oil traders, who then squeezed them for every drop of oil at $5. Most companies would have folded under that pressure.
Now they don't owe local traders jack. They went from this;
29 Jun
The Group continues to forward sell its domestic production and receive advances from oil traders with $2.5m currently advanced and the continued availability of such arrangements is important to working capital. Whilst the Board anticipate such facilities remaining available given its trader relationships and recent oil price increases, should they be withdrawn or reduced more quickly than forecast cash flows allow then additional funding would be required.
to this
6th Aug
We are now close to repaying all the historic local oil trader funding provided with respect for domestic sales. Once done we expect a greater share of our total production to be eligible for international rather than domestic sales.
in a month.
Why? because oil prices continued rising and they scored their first horizontal.
Lots of other detail in the RNS that many have missed.
CASP have had their fair share of bad luck .. why not some good luck now.