Member Info for Kheldar

@broadfordbay said “ Taqa has been trying to offload its Atrush stake for several years - see Gulf Times May-2016,”

And yet they acquired an additional 7.5% in 2019. Can’t blame them for not being happy when they were not paid on time or having to sell locally.

The question is why have HKN and shamran agreed to take over? If they thought that pipeline won’t open or having to continue to sell locally then financially it makes no sense.

@dailsydo - I wouldn’t rely on google finance as it tends to double up and sometimes even worse when reporting.

There were only 6 trades today as shown in London stock exchange link below.

https://www.londonstockexchange.com/stock/CASP/caspian-sunrise-plc/trade-recap

Read the rns regarding the gold grading and compare with table below. IMO this is the second coming of GGP.

https://www.bullionbypost.co.uk/index/gold/gold-grade/

Open Pit:

Low grade 0 - 0.5 gold grams per tonne

Average grade 0.5 - 1.5 gold grams per tonne

High grade 1.5 + gold grams per tonne

Underground Mine:

Low grade 0 - 5 gold grams per tonne

Average grade 5 - 8 gold grams per tonne

High grade 8 + gold grams per tonne

'Bonanza' grade Troy Ounces (31.1 grams) per tonne

ERBIL, Kurdistan Region - The natural resources ministry of the Kurdistan Regional Government (KRG) has invited international oil companies working in the Region to meet on Wednesday to discuss progress in talks with the federal government about resuming oil exports, Rudaw has learned.

“The purpose of the meeting is to update you regarding the progress of the negotiations with the Federal Government of Iraq in matters that concern you and other IOC partners. The amendments of the 2023 budget law and the subject of compensation for the IOC’s entitlements will be the main topics of the discussion. We will welcome your insights and suggestions during these discussions,” read an email sent to the IOCs by the ministry and which Rudaw English has seen.

https://www.rudaw.net/english/kurdistan/210120245

BOOM BOOM

It would appear from the previously posted article some sort of agreement has been made between KRG and iraq government. Next hurdle is getting it through Iraq parliament.

With the teacher strikes in KRG and KRG have gone to Supreme Court about the non payment of their entitlement it looks like parliament will be pushed to sign of the amendments as soon as possible.

https://shafaq.com/amp/en/Iraq-News/Lawmakers-in-Iraq-face-pressure-to-amend-2024-budget

Dai2belts wrote “ @Khelder, He1 have already stated they will attempt a discovery, then later return to test and prove commercial flow rates. If its doesn't flow at high enough rates its not commercial..”

Let’s break this down:

1. “If it doesn’t flow at high rates it’s not commercial” - so from this you agree then if it flows at high rates then it’s commercial? Legalwolf was implying that they couldn’t say it was commercial.

2. “ He1 have already stated they will attempt a discovery, then later return to test” - the wording in the latest rns actually states - “The whole process from spud to completion of logs and well testing is expected to take approximately four to five weeks.”. The rns also says they spudded on 6th January so that means at the latest we should know by 10th February if successful or not.

Don’t get me wrong this is an exploration well and success chances are usually slim but if they declare a commercial find this will go crazy and I think you know this as well. If anyone is overstretched on this share they should reduce as no matter what anyone says risk is high and potential to lose 90% from here on failure.

I very much doubt those spreading FUD are shorting this. More likely they are trying to buying in at a lower price.

Make your decision and let’s we if we are lucky in a few weeks time.

Atb to all holding

@gg - you say you have sympathy for those who bought into the fraud pre 2023. This fraudulent company has been paying a dividend consistently since 2017. I don’t know about you but I think we need more of this fraud stuff for us lowly PIs to get anything out of this market. As it stands at the moment you can get your capital back within 3 years - what’s not to like?

https://www.dividendmax.com/united-kingdom/london-stock-exchange/oil-and-gas-producers/diversified-energy-company-plc/dividends

Legalwolf wrote: “ is it because the market knows that this is simply an exploration well, meaning it can't result in a "commercial" discovery being announced - which would require an appraisal well - and He1 will be coming back to the market for cash upon completion of the drill? ”

Here’s the true definition of exploratory well: “What Is an Exploratory Well?

An exploratory well is a deep test hole drilled by oil and gas exploration companies to locate proven reserves of recoverable gas and oil, both onshore and offshore. Areas that might contain oil or gas reserves are first identified using seismic data before exploratory wells are used to gather more detailed geological data on rock and fluid properties as well as initial reservoir pressure and productivity. If oil or gas is discovered, a development well will be eventually be drilled to extract the oil.”

Do you seriously think if they say they found helium with good pressure that market just going to say thanks but we’ll wait until you go into production? Haha

Just to be clear chance of finding is low but I like to think it’s not a pure gamble as they will have learnt from previous drill. Like others have said I’ve only put in what I can afford to lose so all good.

At worst I’ll be down £300 but I really hope for the long term holders this works out for you.

DEC is also listed on nyse

https://finance.yahoo.com/quote/DEC/

Price at US close was £10.52 but overnight it has fallen to £10.19 that’s still about 6% higher than here.

I bought into this yesterday morning after reading this blog. https://stkt.co/9R9mJyAk

As usual do your own research but in my opinion this feels genuine and price has been decimated by shorting hedge fund who have managed to spread FUD successfully.

Atb

It looks like the Iranians bombing in Kurdistan has given the Iraq and Kurdistan governments a jolt they needed. It looks like deals are being made and oil can soon flow. Not long to go. This could turn out to be a transformational month for both genel and gkp. Atb to all shareholders

I don’t know Adrianz the way it’s going we may be able to buy it even cheaper lol.

But seriously caspian has always been a tight ship so I doubt it’s anything to do with a leak. More likely looks like someone has had enough and wants out.

Message to Clive and Kuat - might be helpful to the share price if you guys could share some information on a timely basis

I see the range of prices as a good sign. If you want to buy a large number of shares then you have to pay a premium.

I’ve said it before and I will say it again in my opinion this is GGP in the making. Eileen didn’t put £195k in when it looked dead and buried to make £100k. This has a long way to go yet.

Https://www.basnews.com/en/babat/836018

What do people make of this ? The judge wrote this opinion in February 2013 but it’s posted in a newspaper today. Seems to me like someone is trying to tell Iraqi government that legally they can’t change the contracts.

Spot on Womo and one think that hasn’t been mentioned is that in addition to the upfront payment and $4m exploration funding will also pay Oriole JORC inferred resource payments capped at $20m. I really do believe this will be the next GGP.

ATB to all shareholders - this year will be our year

From rns:

· A maximum of 10 Resource payments are payable on the release of JORC Inferred Resource milestones (set at 1-million-ounce increments) in relation to Mbe;

· BCM will pay Oriole the First Resource Payment of US$1m on the release of a 1-million-ounce JORC-classified Resource in relation to Mbe;

· Additional resource payments of US$1m each will be due for each additional million ounces JORC-classified Resources reported at Mbe up to 5 million ounces, and will increase in value for the remaining five milestones to 10 million ounces;

· A maximum Cumulative Resource Payment of US$20m will be payable by BCM to Oriole on delivery of a 10-million-ounce JORC-classified Resource.

Let the good times roll.

Looks like some misunderstood the wording in rns as relates to Senala gold. Oriole have clarified. See news tab.

In December, a renewal application for the Senala gold project in Senegal was submitted, Oriole noted. Managem Group took control of Senala in April 2023, after it acquired AGEM Senegal Exploration Suarl. AGEM has earned an initial 51% interest in the Senegal exploration licence.

Managem will not be completing any more work at the asset under an existing option agreement which runs to February 17, Oriole added.

"Accordingly, and subject to a final review of the accounts at that time, it is likely that Managem's resultant interest in the project will be approximately 60% (based on expenditure to date) under the option agreement. Managem retains the right to take its interest to the maximum of 70% under the option agreement by making a cash payment to Oriole directly which is equivalent to any shortfall in exploration expenditure (currently estimated to be USD2.3 million). The company is considering its next steps, post completion of the option agreement, which includes, but is not limited to, a joint-venture partnership with Managem or a sale of its interest in Senala," Oriole added.

Two new tenders on 27/12/2023

tender id: 261596168 - £9.8k - bus services for the transportation of the watch of the elemes north west field

tender id: 261596158 - £15k - for the purchase of wire goods SIP4 4x120 for the yuzhny elemes field

First one is self explanatory but does anyone know what the second tender is for?

googling "SIP-4" has turned up the following which seems to imply some sort of construction.

Application and installation of self-supporting insulated wire:

Power supply of end consumers (facility, living quarters), as well as lighting of various areas can be carried out using self-supporting insulated wires. One of the types of SIP, which is used for these purposes, is the SIP-4 wire in question. A feature of this type is the absence of a carrier zero core. This type of cable is used to equip branches from overhead power lines to transformer units. They can be used for the construction of lighting power grids or for laying on the walls of construction sites. The main technical properties of insulated electric wires provide the ability to operate in alternating current networks at 1000 Volts and 50 Hz.

https://mpka.com.ua/en/sip-4-provod-samonesushhij-izolirovanny/#:~:text=One%20of%20the%20types%20of,power%20lines%20to%20transformer%20units.

3 New tenders:

26/12/2023

261409027 - £51K - integrated household services at the Elemes Yuzhny field

25/12/2023

261245365 - £123K - services of vehicles for transport of reservoir water from Elemes North-West

261245370 - £7.7K - services of vehicles for transport of reservoir water from Elemes Yuzhny

In my opinion based purely on the tenders I think we will get some good news in next few weeks about well 142 (MJF) and well 805 (south yelemes).

ATB

Two new tenders dated 22/12/2023 for oil transportation showing on bicotender. What is interesting is that there already two tenders still active from 7/12/2023. The value of the tender seems to imply they have either split the tender into two or they have increased oil production by about 50%. Fingers crossed it is the latter.

7th December 2023

tender id: 259468891 for £2.1m for preparation, storage and oil transportation from elemes north west for 2024

tender id: 259468882 for £230K for preparation, storage and oil transportation from elemes yuzhny for 2024

22nd December 2023

tender id: 260965787 for £1.1m for oil transportation from elemes north west field

tender id: 260965779 for £123k for oil transportation from elemes yuzhny field

If you want to see the details go to bicotender and key in tender ids.

OneJohn, re block 8 that is how I read it.

As it stands casp lent Kuat the money to drill the wells. The company can’t announce any success/failure as it is not a beneficiary. The company is just owed the cost of drilling the wells unless block 8 completion takes place.

Only Casp can get itself into this ridiculous situation. Fingers crossed that if commercial that Kuat does not renege on the deal. He doesn’t seem the type but money does corrupt.

For me 10-20p is achievable by increasing the oil production in the shallow structures to 10k bopd. Fingers crossed on 142. If they can get it flowing then I think we are back in business. Healthy dividends in the future will flow if they can do this.

Sadly I think the management and staff are incompetent when it comes to the deep structures. They need to let someone either know how have a go and we will just have to accept that we have to give a chunky slice of the pie to see success. Success with even a 20% share is better then no success in 100%.