Member Info for Beynon

That is south yelemes

So unless I am mistaken we have resources of the following. BNG risked resources 202m barrels. South telemedicine most likely contingent resources 13m barrels and BNG shallow structures of P1 15.1m barrels.

The question is what are they up to. We are due news on several fronts. Things can change in a moment with casp. You have to read between the spaces between the spaces of the lines. Maybe awaiting the change with the kazak oil designation

I have just been going through the accounts in a bit more detail. $23.7m in oil and gas sales at $18.8m GP. The proven oil and gas assets were only received a charge of $1.3m in the year with a closing value of $42m. Some BNG has transferred to the cost pool of $28.3m in 2020 meaning circa $14m relating to non BNG. At the same ratio for ease that is circa $250m topline based on the 2021 fin year for the shallows or around £150m gross profit which will be mostly at the pre-Russian market rate.

Consider if BNG asset is good - which it must be to not be impaired using the current urals discount and high discount rates and you are talking about an $800m revenue potential at least

Seems like Clive is hiding.

News Thursday?

Now that the past has been reported to death we must be close on MJF shallow wells 141 and 151 horizontal drilling results and dividend.

Uncertain - thanks but I think that is my point. Wells have been flat but more coming on with different methods for higher output but how hard will the be able to push output realistically? I’d like to know what they expect output to be versus capacity as that is the topline.

I would have thought the barge would nicely convert into a wind turbine installation vessel for the region. Would make a huge amount of sense.

So we have gone from 500k annual product to annualised 4-5k per day? 1.5 - 1.8m per year? I’d love to see them give the annual number on this rate of production for clarity. Also can’t follow why the tax doesn’t change on the urals discount to not-discount but maybe the tax type.

Google close price dropped off sharp to -17% eek

Come on Clive - time to start walking the talk. Oil price stumbling with potential recession fears - which was always going to happen in the global economy. This is the window in time casp need to deliver in short sharp form

Coffee - the bit I am missing - and I haven’t gone to that detail in the accounts is the asset base doesn’t look to be getting upward revisions - any thoughts?

Jester - it’s not really relevant in this release context. What is saw was interesting was the reference to the urals discount having $30m revenue impact. To me that puts revenues closer to 9 figures before additional prospects come on. Caspian explorer seems to have cooled but I don’t know if Clive was writing in the tense of the date of the reporting period.

They may need to report some of the current year results through subsequent events section of the stats as the change is major

So what are peoples thoughts on the release of accounts reaction? Have casp been producing at the right rate or deviated to what they have mentioned to the market?

The boat has long sailed for odx . If you bought at the bottom you may get a little but if not you won’t be seeing much more than this. Absolute dog of a share - shocking all round. The ordinary people that work there should be looking elsewhere for their livelihoods as there is no one at the helm and they are heading into an abyss of cashflow issues and no market to raise money as there is no plan, no return and no point in their current guise.

0.25p quarterly is about £22m annually. That looks like a real squeeze with the way things are going for urals.

I’d like to company to be looking at alternative routes now. Likely this is going one way. I wonder the cost to ferry to Baku per barrel and how this would compare to the deduction for URALS

Good chart here for URALS to Brent - looks largely an April move in typical Clive form

They have shifted to a cash generation strategy. That is clear but I am surprised at peoples reactions. How many years has this bird said stop messing with the deeps and pump Some shallows? Horizontal drills on the shallows produce likely the highest return of anything in the portfolio

https://www.neste.com/investors/market-data/urals-brent-price-difference#76344e49