Member Info for Kheldar

They need to announce the dividend by 23/06/23 for any dividend to be declared for June.

Normally you get paid a month after the announcement. If they want to pay in June then they need to announce either this week or next week.

On companies house it says accounts are due by 30/06 either way we should hear something this month.

This is what Carver does to the market - no one has a bloody clue what is going on. Not the investors nor the market market makers.

According to google finance someone is paying over 6.3 to 6.4p for shares. Why? when you can only sell at 6.11p.

I've just checked and I can't even get a price for 10,000 shares on HL when ask is showing 6.4p.

Everyone is confused.

Come on Carver put everyone out of their misery and just give us the effin production update.

Bluemango has it correct when he said the appropriate response would be to 'hold tight'.

You could be right Paul but the question is why have they not told the market? All it will mean is an adverse movement in the share price so nothing to lose sleep over.

When you have eliminated the impossible, whatever remains, however improbable, must be the truth.

Even if the financial accounts are not ready that is no reason not to provide an operational update and news on the dividend. These things are mutually exclusive.

If it is bad news what’s the point of holding it back. How does it benefit the BOD?

For me it feels like a TO but at what price.

No delay in news yet we’re still in May :-)

The company can stay silent but the contracts on bicotender tell a story of positive things happening. However, Clive doesn’t want to share the information with us lowly PIs.

The problem Clive has is if he declares a dividend then we can guess at production even without an operational update.

“ The Board intends that the future dividends will be paid on a monthly basis, based on the higher of £1 million per month or a pay-out ratio of broadly 35-40% of free cashflows.”

If we don’t get an rns then I think a TO is in play.

As usual glass half full but I fear Clive will turn me into a cynic with his shenanigans.

Hi Paul

All 3 rns are talking about the same sidetrack to target the oil at 3900-4100. Initially they were expecting to finish drilling by end of December but didn’t complete until near end of January.

Carver told us that it flowed 700-900 bopd on an open hole basis.

The original plan was to drill to initial target of 4300m.

Since we have had radio silence some of us believe they are continuing to target the other reservoirs - see previous chat about multilateral wells.

Multilateral well is a new evolution of horizontal wells in which several wellborn branches radiate from the main borehole. This allows one well to produce from several reservoirs.

I believe they are building a multilateral well. The sidetrack hole will target the oil at 3900-4100 and the main hole will continue its journey to target the deeper oil?

Baker Hughes provide expertise in multilateral wells - https://www.bakerhughes.com/completions/multilateral-systems

As usual dyor.

CC / Paul78 - lol -You've both misunderstood what I'm saying. I'm actually very optimistic and mainly because of the 803 tender. I believe 802 is flowing and that's why we have a tender for 803.

As I said, it's guesswork but I think the 803 tender is for Baker Hughes to provide the management and expertise of deep drilling rather than manpower or rigs but Caspian wouldn't be spending this money unless 802 is flowing.

It may just be a tender for the workforce but I just don't understand why it would be a turnkey tender rather than fixed price.

Regarding well 803 that has been contracted out. The cost on the tender says $5m but I believe the full cost for a deep well is $10m. On a turnkey basis a premium is paid as the contractor bears some of the risk. Caspian have not been able to flow a deep well for over a decade so why would anyone be stupid enough to take on the risk.

I'm sure someone mentioned on here before but it does make sense that the third party contractor for 803 is Baker Hughes as they have been advising on the 802 well. I think the 803 well tender is not for man powspenter or the rig but to manage the overall construction of the 803 well and provide the expertise. If I'm right that is quite a lot of money on 803.

All guess work but not long to go now before we find out.

ATB and DYOR

On bicotender the contracts either state area in Bng as Elemes yuzhny or elemes north west. Google translate states yuzhny could mean southern.

Does anyone know which area has shallow wells and which one deep wells?

Amen

Belles - The plans for this year are as listed below.. Only thing is because of the radio silence we don't know how much they have done. Since January we have seen tenders for transportation of oil, water disposal, construction of production wells 155 and 803.

I setup a dummy account on bicotender and their no further information other than the summary you can view without logging in. It looks like the tenders are logged on to the system after Caspian have already decided who the supplier is. Even under the supplier tab it states that the company has not shared these details. It's all very hush hush but I remain optimistic. Either way they will have to let us know something by Wednesday.

Something that is nagging with me is that Clive was quick to announce that 802 is flowing in January and that production was now 3k when oil had been flowing for 3 days. Since then radio silence and yet the tenders point to positive outcomes happening. I wonder if that rns was not meant for us shareholders but to let the big boys know we have oil in the deeps and are communications taking place which is why we have heard nothing.

Caspian 'to do' list:

1. The Board of Caspian Sunrise are pleased to provide the following positive update on Deep Well 802, where oil is flowing at rates between 700 and 900 bopd. Work continues with Baker Hughes to stabilise the well. Once the well is completed it will be perforated with the prospect of potentially higher flow rates.

2. A new G70 rig, on which we expected to complete the purchase in the next few weeks, will be used to resume drilling at Deep Well A7, which was paused at a depth of 2,150 meters.

3. The G50 rig in use at 802 will, when free, be used to drill the planned side track at Deep Well A5.

4. The approach to already drilled Deep Wells A6 and 801 will be decided once the results from Deep Wells A5, A7 and 802 are available.

5. Work continues to bring shallow wells 141 and 142 back into production and is expected to be completed in Q1 2023, following which if successful production is expected to return to much closer to the previous approximately 4,000 bopd.

6. Shallow Well 155, a new shallow well on the MJF structure, is expected to be spudded in Q1 2023 and drilled to a planned Total Depth of 2,500 meters.

7. Dividends to be paid quarterly

8. No new deep wells until they have successfully flowed an existing one

@surfpolo - The bid and ASK spread is not helping. Although saying that the MMs are offering 6.475p for 500k and 6.415p for 600k.

We have buyers but no one is selling. If anyone wants out before the rns then today is probably the best time to jump. :-)

ATB and DYOR

Check out the latest tender lol

https://www.bicotender.ru/tender246887512.html#tenderHeader

Anyone got a good pumping unit?

Quickdip- if it’s oversubscribed then you won’t be able to buy at 418 tomorrow. No one wanted to buy today as didn’t know the reason why it was dropping.

We’ll find out what happens tomorrow.

Atb - hopefully we’ve now got the bottom in. I’ll put an application tomorrow for more shares but will depend on the price. If it’s below 418 might as well buy in the market

Atb

Smartyp1 - Not sure it's divi hunters booking their slot. If 802 is not flowing and no increase in production then why would you risk your money?

I believe 802 is flowing it's just a matter of the company telling is how much? and what has led them to drill new deep well 803?

Only people buying should be those who see 802 in a good light and/or increase in production.

Strange, if there were going to be some late buys then they would've been yesterday as the majority would have expected the rns today. Ask ticking up when I thought lack of news today would keep it here.

LSE does show some weird stuff, yesterday at the close it briefly showed 6.50 as the share price.

Smartyp1,

I was talking about the full audited financial report uploaded to companies house. You're right in 2018/2019 they gave a summary of the report in the rns in May.

I suppose they need to get the summary signed off by the accountants before they can share.

Looking at companies house CASP have mainly posted the FY accounts either in June or July since 2017 so maybe May was very optimistic by CC.

However, that shouldn't stop them from providing an Operational update and news on the dividend.

I'm with bluemango in that the upside here outweighs any possible downside. Waiting a few more days is not going to make a difference when we have been waiting for an update since February.

Follow the breadcrumbs and keep faith.

ATB and usual DYOR

In the operational update in December and 802 update in January Clive told us they will be working on the following. Will be interesting to see how much has been done. As a minimum we need the divi to be paid, at least same production and some promising news on 802 to maintain this price. If 802 is flowing then we are in uncharted territory. Initially I was of the opinion that they have just been concentrating on 802 but if you look at the tenders for waste disposal, oil testing X2, and water utilisation they may have good news on both deep and shallow wells.

1. The Board of Caspian Sunrise are pleased to provide the following positive update on Deep Well 802, where oil is flowing at rates between 700 and 900 bopd. Work continues with Baker Hughes to stabilise the well. Once the well is completed it will be perforated with the prospect of potentially higher flow rates.

2. A new G70 rig, on which we expected to complete the purchase in the next few weeks, will be used to resume drilling at Deep Well A7, which was paused at a depth of 2,150 meters.

Quite a

3. The G50 rig in use at 802 will, when free, be used to drill the planned side track at Deep Well A5.

4. The approach to already drilled Deep Wells A6 and 801 will be decided once the results from Deep Wells A5, A7 and 802 are available.

5. Work continues to bring shallow wells 141 and 142 back into production and is expected to be completed in Q1 2023, following which if successful production is expected to return to much closer to the previous approximately 4,000 bopd.

6. Shallow Well 155, a new shallow well on the MJF structure, is expected to be spudded in Q1 2023 and drilled to a planned Total Depth of 2,500 meters.