Member Info for bluemango

NobodySpecial - if you don't mind, just so I can picture/place you, would you mind saying where you where sitting in relation to Clive? Was it on the right side of the table looking from Clive's direction (eg next to UkRed, near the screen), or the left side (same side as Smarty/X2)?

.. deal they want (not dream!) in due course - partly because it's not realistic for it to go anywhere else due to its size.

Pressed send by mistake - been a long day ...

Sorry can't recall the exact details on 803.

No confirmation of exactly when they'll resume A7 that I can recall.

The mention of spare parts was on relation to negotiations to buy it - the sticking point was spare parts were not included in the deal so CASP didn't go ahead - but expect to have the dream they want

Somm, they stopped drilling the A7 deep well years ago purely because of licence commitments elsewhere; they'd have lost the licence to someone else of they hadn't done that. It was explained today when someone asked about A7. It's very much a prospect still and they will return to it.

NS, thanks, yes.

Bull-IACS, no, to the contrary, I'd say this was very different. I've been to a few and the atmosphere here was (from my perspective, anyway) more upbeat than previous ones, particularly compared to the now-notorious 'running on fumes' comment from Clive last summer, before the shallows sale. If only Clive was as forthcoming with his RNS details as he is when running through operations and prospects as in today's GM.

We'll see.

'There is no G70 rig' I think you meant to say they haven't acquired it yet, but it's not going anywhere else so it's seen as inevitable that CASP will acquire it.

Special dividends/buybacks could come but not a priority, which is getting the deeps to flow commercially. Cash reduction from shallows sale was because a chunk was used to pay off debt. The company is now virtually debt-free.

Looking at the sale value of £50m for the CE alone, you realise how ridiculous the current &66m market cap is. I know everyone's heard it all before, but at this price the shares are an absolute steal.

Most imminent update sounds like it will be WS. Pleased to hear they think a more realistic current valuation (before any more drilling results) should at least be double figures. Question is how they get there when so many of the shares are either not being traded, or are held by stale bulls who have been in for years? There has to be some action on lessening that discount. Initiatives are afoot to get more interest, Clive is well aware of the issue and the frustration that we're not yet at a higher sp.

WS news within 'days not weeks' and it's 'promising'. Pretty sure he said they're at TD.

Acid wash on A6 couldn't cope with the high temperatures so they're doing a sidetrack.

Clive rattled through a lengthy presentation with slides, talking at high speed so not easy to interrupt his flow with questions but hopefully others will post their own and the answers they had.

Haven't got RF on the various blocks at this stage. They're dismissive of the UAE claim, defence is robust and it's a 'non-issue'.

There's only 361 shareholders! But that's only the ones on the Register, so not counting nominee holdings. Think he said they'll be moving to new broker? Brendan was let go by Zeus, hence the dearth of broker notes but that will be rectified. Lots of emphasis on attracting new investors. They 'can drill 4 deeps simultaneously'. And of the seven drilled so far, they have 'ambitions to move 5 existing deeps to production'. Tax concessions have saved 30m dollars. New deep 804 to spud this year. Block 8 well news 'within weeks'

Apologies these are disjointed notes scribbled in haste while he was talking.

No update today (unless Clive just issues a 'resolutions passed') but there's a good expectation of some decent news flow coming soon from various developments including West Shalva (described as 'promising') etc. A more upbeat meeting than the AGM last summer. Around 8 attendees (didn't count them all).

Clive says a more realistic current valuation would be double figures. Taking steps to attract new investors/promote to wider audience.

I'm off to do some other stuff while in London, maybe other attendees will post when they get a chance with other snippets.

The issue of trust is an interesting one.

Do I trust these guys to tell me constantly what's going on? Of course not, for various reasons that aren't too difficult to fathom.

Do I trust that in strategy these guys know what they're doing and the endgame will be more than worth it? Obviously yes, otherwise I wouldn't have invested shedloads.

No, but I was trained in Psychology ...

Joe, why do use phraseology that implies you want the reader to imagine sinister goings on?

E.g. 'ownership... has passed silently to Procyon Capital'

You could equally have said 'efficiently' or 'without fuss'

Absolutely nothing wrong with a quiet board in the run up to news.

When there's something to talk about, this board will become unrecognisable, perhaps with names no-one recognises. Until then, just chill.

For context for those that weren't aware, Baverstock merged into Caspian Sunrise in 2017 to give Caspian Sunrise 99% ownership of the BNG asset.

The following may be going off on a tangent, but Lars (40) in your post is presumably the son of Benny Iggland (72)?

Also, Baverstock, termination 26//04/2022, MD was Aidana Urazimanova, Liquidator was Benny Iggland. Midiel Engineering AG, registration 30/06/2022, Chairman Benny Iggland.

Joe, I've checked back and it's the same guy that caused some confusion back in August 2024, Abai Kalmyrzayev, his 79m holding is shown on AR but not on website because on the website they chose to only list those over a higher threshold. His holding has been constant over last couple of years. So assume no change, and that he's still there with same holding.

Thanks Joe.

Re Abai not appearing on the website, I believe a similar situation occurred a year or so ago (with a different holding) - it was explained by the website having a different % threshold for being listed there compared to the AR. So, go by the AR list.

That's all reasonable, X, although don't necessarily assume 'most of us are stale bulls now'

Some are relatively recent to the party. The more vocal complainers could be described in those words, but there are also quite a few investors here who, whilst aware of the risks and the history, are nevertheless looking forward to a return of multiples of the current price and eventually an income stream from earnings; either from Caspian itself, or whoever acquires them. They're not a 'stale bull' but instead a quietly optimistic, anticipatory investor.

Unc and somm, thank you.

The two posts talking the most sense, we've had all day. And with that, I'll follow my own advice and sign off for today.

Who needs to watch Claudia Winkleman and Traitors, when you've got this bulletin board to entertain you. Never quite know sometimes whether some of the comments stem from sheer naivety or they actually intend to sow (or amplify) any doubts.

My usual adage applies; the quietest bulletin board threads with the least comments, are often the best. Quality not quantity ... 😉