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Grister ... there's no acid on site. Next job for them is to sort out the coil tubing on A5.
Kairat and Kuat make an interesting duo ...
When the Suits look left, they fall right
Into the Almaty City Shuffle
It's a "they think-you think-you don't know"
Type of Almaty City Hustle
Coffee I think you are being generous on that $300K saving. In 2017 (3 buses) they quoted shallows at $1.25 to 1.5 mil.
Since then the tenge as devalued further reducing costs to around $1.1 to $1.35mil. Looks like the rigs haven't saved any costs.
..... or Clive plucked the numbers out of his _____.
Quote report;
"With the contraction of medium and smaller scale drilling activities in Kazakhstan and the consequential retreat of the larger equipment and services providers, our operations have on many occasions suffered delays waiting for the required equipment to be delivered to site. The lack of activity also reduced the equipment’s effective resale value, thereby reducing its acquisition cost to a point where we concluded it was better to own and control certain key operational equipment rather than to continue to rent"
Translation
Mr Kalmyrzaye drilling company was going out of business due to the lack of drilling activity in Kazakhstan. We had no choice but to buy him out as there would be no rigs available. The equipment has no resale value so Mr Kalmyrzaye was happy take whatever dollars he could on the london exchange ... 10p to 2p all good.
uncertain , always keep notes .. Clive scatters the info over multiple RNS.
https://www.lse.co.uk/rns/CASP/caspian-sunrise-plc-interim-results-pv1ytszulkt5g58.html
"From September 2019, under a full production licence, approximately 70% of the oil produced from the MJF structure may be sold by reference to world prices. For example, at world prices of $60 per barrel we would expect to achieve around $30 per barrel before production, storage and transportation costs and around $26per barrel after these costs."
I can't be bothered finding the rest but they give you a tax breakdown and lifting costs.
The stituation today for our "low cost" operator is;
"Brent oil prices below $35 per barrel for a prolonged period would result in a reduction in the Group’s planned new drilling activities.
Brent oil prices below $30 per barrel for a prolonged period would also require further cost cutting and may require raising addition equity funding on onerous terms"
In other words < $35 we stop drilling. < $30 we will place the **** out of this as the Oraz family no longer funds this freak show.
Also checkout the 35% salary rise. CC on nearly $0.5mil/yr
and compare to my post of 5 May 20
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Clive deliberately or he's just effing thick won't tell us the financial situation.
1) They've reduced admin costs by 25%. 25% of what? Maybe it was up 33% since the last report
and now it's back to where we all thought it should be.
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25% pay cut my @rse
I think I've dished out enuff info for you to make an informed valuation. Going back to my cave.
uncertain, you don't need to guess. Clive gave a very detailed cost breakdown when they got the MJF license .. find that RNS.
At $60/bbl they netted $27/bbl (with a 66/33% intl/domestic split).
They are not making a profit today, the EPS is negative, so how can you apply a P/E. You'll have to value it another way.
You say it's mid/long term ... another 7 to 10 years ... hardly an investment case. How many covids, wars, political turmoil, recessions can you dodge in that time frame. ... eventually you'll get caught out with one of them as we all have been in 2020.
uncertain, the only reason we are not sub 1p is because LTH like coffe ,myself and others are still holding on to a significant number of shares. Also I wouldn't bait the bears and force them to post some research that would be detrimental for the sp.
I try and avoid posting but the sometimes people post something so stupid that I feel compelled to respond ... but still I stop myself.
So lets see your research. I'm going to need more than "I have a spreadsheet that tells me it's undervalued".
You can start by addressing the year on year decline in production.
sheps85 ... they won't take it private. The merger, 3ab, rigs and boat would not have been possible without an AIM listing.
They want to buy more assets and print more shares ... so whilst we don't like the dilution we don't have to worry about a delisting.
ty mrcautious ... just goes to show the potential here .. if they decide to take us on that journey.
btw they got drilling approval for 3ab earlier in April ... they wont rns that ...
nor will they rns that they've been working on 146
He acknowledged the competition. How easy is it for a competitor to rock up to Future Processing ask for the same functionality. FP are openly advertising that they are willing to do that.
https://futurehealthcare.software/project/bleepa-medical-communication/
I'm left with more questions than answers.
CC ... I gave him a shake and he downed it ... said all 4 deeps are flowing ... the boats been rented out for $25mil.
Total want 3ab for $100mil. The cash will be used to infill the A-field, 4 wells at a time, and they've applied for a producton license. MJF production has doubled and the Saudi's have taken a 25% stake in CASP.
BOOM ... NT to buy ... MM's out shares ... Get in first thing tomorrow.
A raise was no surprise but not at 100%. How will they sustain a £10mil Mcap to keep this at 1p?
Why do they need £5mil? OpEx was just under £2mil for the year and that included Bleepa development and new hires .... proper shafted.
I have been critical of casp lately, so I'll end the week on something positive-ish. It's AIM 25th birthday soon and HL have a good article on what to invest in.
https://www.hl.co.uk/news/articles/25-years-of-aim-three-tips-to-help-achieve-investing-success
Point 3 is where CASP fits the bill.
"AIM is well suited to family owned businesses because of the inheritance tax rules that apply. However, that can work to the advantage of outside investors too.
The desire to pass the business onto the next generation often means family owned companies are conservatively run while managers take a long term view. That can mean little or even no debt, and a relatively high level of investment.
These companies aren’t going to “shoot the lights out”, and aren’t the kind of company you usually think of when talking about AIM. However, over the long term we think high quality companies should deliver good returns. We find a surprising number of family owned companies that fit the bill."
https://www.bicotender.ru/tender163215525.html
Looks like Clive has blocked the toilets again with a solid. Contracts out for 700 000,00 KZT.
Any takers?