Member Info for KumKuat

Can't say it hasn't wound me up, not the sum, the communication or lack of it. They are a listed AIM Company yet KO runs it as as if it's wholly his, it isn't and minority shareholders are treated like mushrooms in my potting shed !

CC,

£70k, that's pocket change and makes no sense to issue shares as they can't be on the bread line unless the oil trader debt had to be settled. Taking company information as fact, the netbacks from export ar mid $40s and basic maths gives me a higher revenue number than at anytime historically. Yes domestic is down from historic levels of $20 but probably recovering. GA costs down, operational activities and costs down ? They were managing the $3.2m annual BNG cost pre Covid and accounts were ok and the barge has added probably $1m pa inc maintenance. They've lost 300bopd from SY temporarily but that wouldn't have made a huge difference in 2020 due to domestic oil price crash.

Work the maths out on a 60:40 split on 1320 bopd using $45 netback from export, something doesn't add up and the financials next month will clarify matters and i'd love to see managements to month 4 2021.

Maybe the recipient wanted 3m shares and didn't want to buy them in open market but we all know the truth. No detail re debt is not acceptable as is director share disposal without following the proper process. These guys better shape up before minority investors start causing issues and as Clive knows from his AST days, certain investors can make things difficult.

Wake up Carver, stop running this company like a corner shop and communicate professionally !!

It will be interesting to see which way she blows. Through $70 and the Bulls have it and we could see a run at $80 as the global community is opening up for business. The downside is if it breaks the 50 day MA and we could see a move back to $60 but it will bounce again. 2021 average is approx $62 and increasing, 2019 was $64. Will be good to see domestic prices increase too and the likelihood it will as diesel demand builds.

Somm,

Historically Finals have been out 2nd and 3rd week in May but as you say, last year was late June so entirely likely again, especially if they want more time for other news outside of the FY 2020 commentary.

Financials for 2020, not expecting great things but it will be good to understand oil prices received through the worst of the Covid crisis.

A8 and fracking, i'm not expecting anything but hoping that i'm wrong, I'm keen to see our new COO act in a professional manner and communicate his strategy without Carver spinning his BS.

CC,

As i've always stated, investment responsibility sits with the investor and if they're not doing their research and relying on others, then only one person to blame. Always good to share research and that's why we have a BB but as always, that research needs to be validated.

This is a buy if MJF delivers and next well needs to be productive ie over 200bopd. They've thrown in the horizontal drilling titbit but we need to see the plans and timings.

A positive MJF appeal result will give the sp a boost especially if there's a credit for historic overcharging and will enavble them to waste more money on the deeps.

Quite simply, Mr Shin needs to set out his detailed plans so investors know whether this is something worth being invested in or not. No good getting Clive stating that we may consider horizontal drilling or fracking on A8, as investors we should be getting better communication.

Next news should be financials this month but it wouldn't surprise me if he delayed it until June and have more to say about 154 and other operational activity. It's likely that the domestic prices will continue to increase although not hugely material.

CC,

Can't argue with a lot of the content in your post 29th April but as you know, you've ramped and de-ramped this stock to suit your trading agenda, especially at the time where Flawless was active. It has also been the sitting target for many P&D plays orchestrated by parties with buying power but less so now as the stock is off radar for many gullible enough to fall for it.

Current valuation @ £48m ? i have a different view when assessing the current assets and there are only 2 with fundamental value, MJF/SY and the CE, i suppose you can include the rigs but that would be scraping the value. I can't disagree with your MJF assessment and the latest wells productivity have been overstated and has left a question as to why and will it be the same for future wells ? i suppose 154 will give us some indication. The original plan was a 24 well field and initial expectations of 8k bopd but as we all know, that was BS and i'm hoping that 200bopd is the likely average and a 4-5k outcome with horizontal drilling to increase that number ? Truth is, none of us know and the 18/27mboe P1/2 numbers could be BS too but they can only substantiate that by drilling more wells.

Old Boaty, it has considerable value on the balance sheet but it's a cost to the P&L and we'll see more detail when the accounts are out this month. Ideally it needs to be rented on a lucrative contract or maybe sold or broken up .

The deeps, no value, just a cost and they continue spending. Is our new COO going to stick his head above the parapet and position his detailed operational plan together with timings. Need the detail re the fracking plan, who the partner is and understanding of likely success. Also the Devonian, when, how, who.

By my sums, 2021 will be the most profitable year as production is on par with 2019 levels but one key difference, we're benefitting from export prices whereas only 3 months in 2019. Throw in the cost cutting, salary substitution and diminished operational spend, we should see the best set of accounts since incorporation.

The shallows will deliver sp upside providing that MJF future wells are productive, that's to be proved but it's really only a sideshow. We're all here for the deeps and there's still a chance plus a poke at the Devonian. 3AB ? drill a hole or sell it. Boaty, get a contract or sell it and use proceeds to exploit Devonian and 3AB so that we can include or cross them off the list.

Better investments around, definitely but it won't take much to light that touch paper and hoping that we don't need another 14 years to find out .

Apathy reigns and Caspian is very unloved but we all know the reasons for that. The BB posting on boards has fizzled out which sums up current sentiment. Not going under but where's the sizzle that's going to attract new investors to the stock ? MJF will deliver the cash and yes there's a few bags if they achieve a 24 well field @ c 5000bopd as communicated, actually more if you believe our Clive ! The sizzle comes from the deeps inc the Devonian and they need to flow one commercially to change the game, that's the catalyst for investment and the associated hype.

There are other assets that could deliver many bags ie Boaty, 3AB but the priority to huge sp appreciation comes from deep success. Sunk costs of probably $70m as of now and is it the money pit and the FOMO effect ? They know the oil is there, they've spent $70m and they want a return but can the reservoir flow ?

Lots of questions but let's hope our Mr Shin starts his COO career by unlocking the deeps, something that has eluded them for 8 years now.

I can't disagree there. Our KO, family and chums make their money from sp appreciation and probably a trade sale at some juncture. They have all to lose if this isn't a success and taking it Private or selling on the cheap aren't options, only if they're in a distressed position. We live in hope that KO and team will extract shareholder himself and we're riding on their shirt tails.

Last BednIsa trade today and all Caspian shares in various ISAs, all i need now is some sp appreciation !!

Waiting for a response from HQ re operational timeline but as usual, falling on deaf ears. Have asked for more info on -;

Fracking 3 deeps - who the contractor is , is the equipment readily available and timelines
A5 - new contractor with special tools....lol who are they and timelines
MJF - Considering horizontal drilling, when and increased production expectations/objectives
CE - Updates stopped, any likelihood of revenue generation this year
SY licence - why is it taking so long as 300bopd generates the revenue to accelerate operations and additional taxes for the govt ?
MJF - Expected Feb, why the delay and realistic appeal update timing

More cash in the pot enables them to possibly meet licence commitments on 3AB and A9 but i think that's unlikely and they'll pay the deferral penalties or involve 3rd parties. MJF is providing the cash and the priority is to get 1 deep flowing as that is the starter for 10 as BG or JP might say.

Still all to play for.

Rocketeer/Fido show...lol. My mate, has spoken to his mate's mate who has another mate who knows a mate at the Caspian A5 site who was down the pub with oil stains on his new boots, the well must be flowing at long last ! 5p next week, 10p by end of month 50p shortly, get the rockets out.

On a serious note, i'll take any positive news. The previous RNS was encouraging as they're continuing operations without dilution and i'd just like to see more detail on timings. Hopefully the new COO Mr Shin is going to be responsible for the operational turnaround here, it's way overdue.

They obviously want the share price up to announce that independently. It’s material but not hugely, approx $1.2m pa based on current Dom/export split. Great to get domestic back to $20+ but the effects aren’t huge, I’d be much happier with more production but at least this covers the barge costs, rather have it than not.

It does smack of desperation and maybe they do want sp up so that directors can offload their salary shares. We can all knock it but the simple fact remains, they do have an asset portfolio that could deliver multiples of current sp. We all want a deep flowing but I want to see the detail on the fracking plan. Who, when, is equipment readily available, costs etc. Need a new IP with strategy and timelines ASAP.

Next news should be appeal update, would be welcome news if positive. That gives them options and maybe a partner for the expensive operational tasks as opposed to going solo.

I’m keen to see the next set of financials to give some transparency on matters but they haven’t diluted which is encouraging.

I suspect many ex Caspers are on the bench watching closely with FOMO a consideration. They have the assets, they’ve just got to convert the more lucrative ones into real value.

.....lol, Caspian fracking , spreads those tight fissured cracks !

Uncertain, apols for tardiness of response. 12p @ 5k bopd, yep, i'd go along with that. I'm trying to find the original expectations set on the 18/27mboe P1/P2 numbers but can't lay my hands on them.

Near term valuation can only be on MJF/SY , everything else is valued at zero regardless of true value and no hope' value attributed.

I'm not sure how they're going to manage the fracking of the deeps considering the depth, heat and pressure. I'm probably going to write to our new COO to understand the equipment required, timescales etc. In the interim, we'll be valued on shallow value and a positive appeal outcome which will give Caspian options to accelerate work program. Who knows, they might unblock A5 as not fracking it or rent Boaty, pigs may fly !

Have we turned a corner ? Is the 1.5p bottom in ? I believe so and acted accordingly ie adding a few more.

Why ? Nothing really material in the latest announcement from an operational perspective but the resumption of activities without dilution was encouraging. Many companies have struggled through Covid but they’ve obviously managed cash and enough to focus on the operational activities. Threat of going bust dissipating and many PIs maybe in FOMO mode ?

Many investors have lost faith in Roxi/Casp and that’s certainly understandable but I still maintain it’s way oversold. What’s the difference today to when the sp was 26p after A5 or in 2019 when sp was 14p and m/cap 5 times current position. Answer, the hope factor on the deeps has been eroded and that’s why we’re here. They also have the CE on the balance sheet but no value there either and that’s understandable too as it’s a cost currently v a revenue generator but it must have value, hopefully in an operational capacity as opposed to scrap. The rigs have value and they have 3AB, Devonian and other seismic targets to explore.

I think most of us would agree that MJF more than underpins sp with 15 more wells to drill, what is the end result ? 24 wells and 4-5k bopd as opposed to the initial BS at 8k. Even at 4kbopd, that’s substantial revenue with SY added in.

Not everyone’s cup of tea but they continue with the deep project and who knows, Mr Shin may finally break his duck and get one or more to flow, now that would be a game changer.

Ive knocked the leadership team, especially Clive as the communication has been misleading but they haven’t slaughtered PIs with unnecessary dilution and they continue with a prudent approach using MJF as the funding vehicle to try and unlock shareholder value. Who knows how this ends up but if you’re not on the ship you’re not going to have any hope of getting to that holiday destination. Only Caspian can decide whether it’s Bermuda or Bognor .

A risky play but MJF is a solid foundation to help them exploit their assets, only time will tell but more upside than downside for me. Strong buy !

Hollow and Jamesy affecting share price....lol. ToggleB has banned old Hollow and it would be good to see some good debate on the boards but a lot of knowledgeable long termers have had enough of the inconsistent communication from Clive. The flowing oil at x k bopd for X days that turned out to be for hours and not bopd but b(mud)pd !

Toggle , i believe posts on here as Hello Sailor Beware but could be wrong. Good debate is needed but we're all second guessing with Caspian as we're mushrooms, fed sh*t and always in the dark !

That said, i took a few more yesterday ??

The RNS was poor from a detail perspective so no info as to the contractors doing the work. Kuat making a few quid from the Services business ? very unlikely. Clive and other Directors taking a pay cut, i don't believe that would sit very well unless they're all having a little Tenge divi up...lol .

Seriously, they make their money from Caspian increasing in value and all cash will used for the short term opps that can drive revenue. The RNS had very little detail but the little they did say was encouraging. Will fracking sort the 3 deeps ? who knows but the story goes on. Freeing up the pipes @ A5, that is a real saga but to the mushrooms like me believe its still alive. They know the oil is there and why spend the little money they have on lost causes.

I feel buoyed by the fact that they haven't diluted and have ridden the Covid crisis although assisted by the Crude price rice. In addition, they're continuing operations although licence commitments on new wells at 3AB and A9 will be extended at a small penalty until they raise enough cash or involve a Partner.

The fireworks come ffom the deeps. It's not that they haven't found and flowed oil (for short periods) it's dealing with the mud and blockages and who knows where fracking goes. I still hang onto A5 as that's the only well that's flowed at commercial levels for X days. They've seen it, we've seen it but they can't maintain flow so they continue to chase the biggest prize in their portfolio.

The buying since RNS is also a positive sign as there is more hope and maybe the fear of 'sale, pop or taken Private' have diminished and most assets in play and enough cash to exploit the priorities. Just need a positive BNG appeal update to boost cash and reduce future costs and sentiment will continue to change.

News on April Fool ! that would really sum it up if it was disappointing with the only fools being those invested in Caspian.

They're waiting for some positive news to release and i believe that's the regulatory piece as they have little else to say. Just want to see acceptable production levels with regulatory success on BNG charge with SY licence approval, that will do as a starter. A barge rental would be icing but i believe very unlikely.

CC,

Missed your weekend post.

Yep, the naughty boys had to cut production but i believe that was only applicable to the bigger players with real production. Clive made the statement that they could sell more of current production via export route but as usual, scant on detail and only the accounts will show true production and revenues generated. Wasn't long ago that MJF and SY was heading for 2500 bopd with inflated numbers from new wells.

Time to remove current management as any good business would when credibility and trust shot to bits. No PR since the 2017 BS and time for new leader to be appointed who has the credibility and vision to turn this ship around.

Last communication, MJF producing between 1200 and 1520 bopd with Jan @ 1384bopd. 151 was a disaster with 17bopd and pump being installed, same with 141 workover. 1200bopd is a low bar but wouldn't surprise me if that is the number and weather the excuse re inability to do workovers. They have to drill more wells and the next few need to be productive, not like 141 and 151 with the latter highlighted as a top producer but they got that wrong.

They need to get SY back in production as that gives them the cash to continue with the MJF program whilst they figure out the plan to exploit the deeps, hopefully with a partner. The cost to drill down from A8 won't be high, that's if they can do it or getting somebody else in. At least then we'll know if it's a pipe dream or not but i suspect it won't be easy drilling as history has shown.

The barge is a get out of jail card but no takers as yet and the regulatory resolution would give the financials a boost. They're not going cap in hand to the market for cash and a recovery on domestic prices will also be good news for cash flow.

News likely this week and as communicated, i'd be happy to see ongoing production at sensible levels with a positive regulatory update or worst case that they're still waiting. Not expecting any advancement on anything less but maybe the Pieman has a surprise for us, maybe that P45, we can but hope.

We'll probably get it this week but then wish we hadn't ! Damp squibs for me although i'd love to see rockets. They're waiting for the regulatory update which is probably delayed, SY licence too. Important the MJF is producing at near to last update levels but expecting little else. Plenty of upside still to be had from the asset base but they don't seem to be able to crystalize any of the value.

Another Carver special coming imo, excuses and delays unfortunately but ready to light the touch paper if there's a surprise.

Well today's little selling exercise has swallowed up the bid and max sell of 100k and as many as you like on the ask. A precursor to crap news next week ?

Coffee, yep a **** take but not far off the mark as i'm not expecting much, the most important thing is to keep MJF prod at sensible levels but wouldn't be surprised to see a decline, blamed on weather, pie budget overspend meant no dewaxing etc.

I believe they have little to report on operationally and the old FC is concocting his next episode of Carver's Tales. They're waiting for positive regulatory news probably still delayed.

Not all doom and gloom and Mr O and chums have far more to lose than any of us. Still loads of upside if they get a few things right and at least they have several projects that could provide considerable upside.

Lucky for them that Crude increased and with it the amount they're allowed to export.

For once Clive, release some good news without excuses.