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Bm,
Is this the general meeting where Clive Carver stood at the lectern and told investors they would stop releasing so much info in their RNS to put off investors complaining and moaning to him and some of the "London traders" from trading?
The info given in that rns appears highly misleading and should be clarified!
West Shavla is a small and cheap to purchase prospect.
The Neds and Nomad can look all of this info up online or they can ask the Directors to hand over proof of title and financial chain and then see if this is a "value transaction"
Ned questions.
Block 8 -
When purchased
How much paid?
West Shalva
When purchased?
How much paid?
How have the values multiplied for Block 8 on back of a casp $5m loan into a $60m purchase price?
West Shavla -
How have the values multibagged into a purchase price of $15m with no work being carried out?
Why did the RNS state oil seen seeping out of the earth, actually mean that the new purchaser of the Block complained to the Government that a dead camel was found at an abandoned well that had leaked water and oil, the assumption being that the camel had drunk the contaminated water and died!
The info
Hope you rang the Nomad and asked them how that small parcel of unproven land with an oil clear up requirement was passed ...
Https://www.upstreamonline.com/exploration/kazakhstan-going-back-for-a-third-oil-and-gas-bidding-round/2-1-1534617
Authorities hope the upcoming round will find new owners for four fields with confirmed oil reserves and 14 prospective acreages, varying in size from 500 to 5000 square kilometres, in onshore provinces with existing oil and gas activity including Mangistau, Atyrau and Aktobe.
The most valuable asset on offer — in the ministry’s view — is the Doschan field in the Kyzylorda region, which carries an initial starting bid of over 186 million tenge ($430,000)
West Shalva 25 km2 and $15m :) :) :)
"The West Shalva contract area is rectangular in shape and extends over approximately 25 km2"
Smarmy,
I've never disclosed numbers so you wouldn't have a clue, and that's just how I like it.
1. I didn't sell 7m shares.
2.I flagged up they've put a piece of land in for sale that has oil seepage from an old drill reported in National press and its been poisoning local animals and the locals have been complaining about it on social media.
Bully - you do some research ... that was your mate selling ...
One of your most recent posts was this ...
"Lot of volume again28 Mar 2024 16:12
400k and 500k gone through at 4p, lets be honest not surprised at that price
Maybe some corporate action being finalised over easter? does happen"
Cut and Run and blame somebody else.
Once a used photocopier salesman, always a ...
You remember the poster who used to tell you it was me selling, then some of you started DM'g me about my selling and I told you it was Smarmy?
Had one today DM me.
I knew it wasn't me ; )
For what its worth he was in an over geared position, better to swallow the loss and cut and run while you can than wait for this lot ... there's more info out there, I won't be posting as there's nothing in it for me but look behind the curtain not the sofa...
I'd say it's to pay for the clean up bill from the old leaking well as per the info I've put on here.
Think everyone should ring the Nomad on 0207 2201666 james Joyce James banister and ask them why the non execs signed this off?
Somm if u like to crack a childish joke, " for he has arisen" works well on Easter mornings
No work in isa week, screen's off.
Chart was looking like a rerun of last year,with some additional rocket fuel of shallow sale.
This additional land purchase may or may not change it - I think it stinks, if Id seen it yes I would have sold the lot.
IF they don't sell a shallow for u.s. $200m + then we'll know we've been had.
Was a lovely Easter wasn't it.
You lot and Yr theories crack me up.
No Mike,
Stupidly still in, read this and ask if the selling an oilfield is like selling 50% of the C E. And overpaying $60m for block 8?
Getting very bored with this.
Found the "oil on surface report online"
Was the RNS scant on detail?
Should the Nomad have picked this up?
Do they need some impartial non execs as a matter of urgency?
Why did Limmerick leave?
Is Carver fit for purpose ?
Note the source, official Kazakh energy monitor:
In May, social networks in the region were full of indignation when a user posted pictures of wild horses drinking a mixture of oil and water at an abandoned field.
Additionally, the new operator of the Shalva oilfield that was sold at a recent governmental auction, has reported finding a dead camel lying next to a seeping old christmas tree as its representatives inspected the acquired asset, Kazakh energy industry social network channel, Energy Monitor, said
Occasionally, the wells yield pollution you can see: oil, brackish water or other smelly substances leaking onto the land.
Amid a recent oil market crash that followed years of frenzied drilling, Texas is among several states — including Louisiana and Oklahoma — grappling with a surge of abandoned drilling sites and dwindling funds to clean them up.
Occasionally, the wells yield pollution you can see: oil, brackish water or other smelly substances leaking onto the land. But the biggest threats lie thousands of feet underground: the possible, but tough-to-detect migration of oil and other toxic minerals into aquifers or water supplies.
IMPERIAL — Peculiar things can happen after folks drill deep into the earth — looking for oil, water or whatever — and leave a bunch of holes in the ground. Fluids can gurgle and leak, migrating where they don’t belong. In rare instances, land could even sink or collapse.
What did they get up to between these two dates ?
There is the usual stunning lack of detail from Carver.
"In 2008 a 3D seismic survey was undertaken on the contract area, which identified the West Shalva structure. In June 2022 oil was detected spilling to the surface."
When do they announce that there are pollution fines to pay? or that the licence is being revoked?
It's been in the news for other producers getting hefty fines, assuming they are allowed to keep the licence this oil field also needs money spent on it in order to keep the extended licence.
"outside the structural closure of the West Shalva prospect" so they drilled outside of the licence area ...
"The well was then abandoned without running a production string."
Then they left it as oil didn't initially come to the surface, so theyve drilled on someone else's land and then walked away after digging a big hole.
time passed and oil has broken through and spilled out polluting the nearby area.
West Shalva was first identified as a potential oil producing location in the mid 1970's. In 1977 and based on 2D seismic data, Well no. 4 (Wsh-4) was drilled to the north and outside the structural closure of the West Shalva prospect to a depth of 3,500 meters with a prime potential oil bearing interval detected at a depth of 1,033 meters in the lower Triassic. After open hole testing lasting only a few minutes the well was deemed not to have found any commercial volumes of oil or gas despite oil being detected at three other intervals. The well was then abandoned without running a production string.
In 2008 a 3D seismic survey was undertaken on the contract area, which identified the West Shalva structure. In June 2022 oil was detected spilling to the surface.
The oil spilling to the surface isn't in the licence area, therefore the licence area that requires drill money spent on it will then need extending at a further cost.
So kind of the Nephew to lumber us with it ...
Look it up for me, very busy Zzzz ...