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Close eye on this indeed if further good news this week then this will blast through £1 on the way to £2 ..!!!

Little calculation for those unsure how to get a rough estimate of value for CASP if all goes well.

Oil Price Used $70 - operating costs say $25 so net $45 (taking into account the deeps also at international prices)

Lets project for 16 shallows and 4 deeps online end of 2020.
Shallows:
16 shallows average of 150 bopd = 16 x 150 = 2400 bopd
Profit = 2400 bopd x $45 = $108,000 per day
Annual Profit = $39,420,000
Using industry average of PE 15 gives us mkt cap value of $588,600,000 just from the shallows

Deeps
Shallows:
4 deeps average of 1500 bopd = 4 x 1500 = 6000 bopd
Profit = 6000 bopd x $45 = $270,000 per day
Annual Profit = $98,550,000
Using industry average of PE 15 gives us mkt cap value of $1.47B

Take the deeps and shallows and put them together gives you close to $2B mkt cap potential

Take this figure and convert into £ giver you £1.6B

Now divide this by the shares in issue so 1.6B/1.883 = 84p per share

With the potential for further deeps and a buy out.

GLATH

Almost an extra £2M per month at $70 per barrel if prices continue to climb and remain strong.

Add to that oil prices moving up and the potential for the well at A5 to produce more than 1500 bopd. Upwards of 2000 would be a fantastic result after the long wait we have A5 flowing..!!! I for one will celebrate this tonight and would like to congratulate the team at CASP for there perseverance to get the Deeps flowing. All the struggles of the past and poor new releases will soon be forgotten when we have 4 deeps flowing light sweet crude.

Quite hilarious really 1400 bopd at international pricing and 1500 bopd at domestic (500 bopd equivalent approx at say international) with 3 further wells awaiting 10 day acid stimulation from BH. So by the end of Feb we could be looking at upwards of 6000 bopd from the deeps and 2000 bopd from the shallows.

Really not sure where Tonna is going with that statement of top heavy...!!!

Tonna show your workings to justify current mkt cap and potential vs what you say?

Sp moving north in the meantime

I reckon we will get further news this week on A8 and next week A5.

Either way the last time we were waiting on A5 put on test news we didn't have 3 other deeps stacked on clean up operations.

Here is hoping the long term suffering with Roxi/CASP is nearing an end.

GLTAH

If A5 and A8 on test then finally we may break out of this range and into the 20s where the SP should belong at present. Any further positives on the other 2 deeps and sentiment will change fast as will the SP.

GLTAH

Not kept up to date with Angs for some time now but did see today that JTP loan has been repaid in full, which I suspect has surprised quite a few!!

Few question for those still upto date with current affairs how far away is Balcombe from going on test?

If I remember right Balcombe was the well that flowed at 800, 1500 bopd and slugged at 3000bopd on a short test but the equipment wasn’t rate for that rate of flow.

So looking at the recent UKOG HH results surely Balcombe is still a very promising prospect if it will flow?

5 Deeps in play by Mid 2020 would certainly speed up the £1 party ...!!!

Couldn’t agree me why be so vague over the current condition of the well at A8? As I said yesterday morning if its not market sensitive then why ****in mention it? Could have said “after successful coil tubing operations the well continues to clean up under acid wash. The well has now been shut in after it’s acid wash with pressure remaining strong”. The fact that they worded it very wishy washy does not sit well with me.

The only positives that I can take from A8 are the pressure has remained strong and that they haven’t got the coil tubing stuck down the hole.

The RNS releases over the years are an absolute joke. Yesterday’s news could have been A5 looking good and A8 in progress shutting the well in is not sensitive news so begs the question why the **** mention it ...!!!

CC couldn’t agree more we witnessed close to 24p on a spike with A5 conforming oil and going on flow test. Furthermore the shallows were not as far developed and being sold at international prices back then . If 2/3 wells come in before Xmas then 50p+ is a real possibility.

Apologies email link I got sent took me 2 last RNS for some reason. Something is going on though I reckon we have one well on test :-)

RNS out and all still too play for :-)

Couldn't agree more shares are tightly held and the SP will move very fast on 2 deeps flowing. Personally see 20p coming and going fairly quickly if such a positive situation arises. Not out of question and with 2 flowing speculation will also build the SP. Who would want to miss out on perhaps 3 or 4 deeps flowing early 2020.

What do we think the SP will rerate to on positive news for Kallak granting?

If 3/4 of Wells flow we will be easily over 50p. So 5 bag potential or more for end of October I’ll take that thank you very much ...!!!

Our problem is not finding it it is getting it too flow. ;-)