Member Info for KumKuat

Bottom found ? not so sure.

What's happened in the last year ?

1. SP flat in the 6p range
2. Shares in circulation increased by approx 219m on acquisition of Oraziman assets - 12% dilution
3. MJF - Reduction in production from 1600bopd to 1425bopd today. Workover rigs plus A5 rig deployed and awaiting results on 150 and 153 with 16 more wells to be drilled, allegedly.
4. Deeps - Drilled A8, loads of excitement , messed up the cement job, waiting for acid analusis. A6 and 801 still blocked, A5 flowing but what ?
5. Have a new boat costing $1.2m a year with no sign of incoming revenue
6. 3AB licence commitments not met
6. Secured the production licence on MJF and 5 year on the deep.

We wonder why the sp is at 6p ? i can argue that it should be lower. The best result this year is the MJF production licence and oil sold at international prices or should i say 68% of it. That can be countered with the additional operational spend on the deeps with still no conclusion and $60m down the money pit thus far.

Reasons to be/stay invested ?

1. MJF a likely success case ? Drill 18 wells this year ? very unlikely but if they drill 12 and hit their 350opd per well expectation, the revenues will increase dramatically anfd they'll be on their way to their 8000bopd target.
2. The 58km2 deep opportunity. As it stands, that is very much under question and the failure to get A5 flowing will damage credibility and sentiment. If A5 flows commercially, this will re-rate dramatically as it will prove that the deeps are a real prospect. They will need to achieve the same with the appraisals but A5 is the key focus and maybe the key that finally opens the door.

If the deeps don't flow and the MJF campaign progresses to plan, the NAV is worth more than the £130m . A9 will be a waste of money if they can't obtain success from the existing Airshagyl wells and probably best to drill deeper to the Devonian instead.

The real sp re-rate comes from the deeps. Investors not going to lose money providing MJF continues to their plan and maybe A9 and 3AB spring a surprise.

CC an investor....lol, that is funny. The £1 Party has gone, the posting history forgotten and now it's all about the blue sky positioning, you couldn't make it up......lol

Was that an Americano or a Double E ?

Too much coffee can be bad for your health but I guess you’ve figured that out.

Are you going to the GM by any chance ?

Anybody going to the GM ? List of questions for our illustrious Chairman -;

- Why are you such a scheming bustard - that should set the scene
- Can you explain the A5 communication re flow rates in the 2/1 and 8/1 Rnss
- Why the need to use HCL again
- When are you expecting to achieve the 1500bopd and starting flow test
- When will the boat be contracted
- Why drill A9 when A5/6 and 8 are not flowing
- Why is 150 taking longer than other MJF wells
- Which decade are you planning to pay a dividend
- Is MrK flogging his share allocation, are his rigs ever going to work
- Any more crap assets to add to the list

Mr Carver, you may not be in a hurry but the exploration phase was reduced to 5 years and we’re one year in. Stop treating PIs with disdain and do the right thing, resign ??

Well you better get the gloves on as our Clive will be at the GM. No zeros left off, just stretching the truth as always.

A very long time !

Shocking communication has always been the MO from Caspian but Clive has outdone himself on this one and he has misled the market.

The 1500 bopd was hugely misleading as they've extrapolated the flow rate using a 12mm choke for seconds, minutes ? can't have been long to produce 1887 in the month.....lol. They cleaned the well, took their time pre perforation and on 2/1 announced that estimated flow rate was 1500 bopd but expecting more, 29 days later we received the 'more', 387 total barrels, you couldn't make it up.

They could've done the boat deal post A5 announcement, that would've been a shocker with 30% more dilution if done at the same premium but that wouldn't have sailed ! imo.

Our KO has done all the tax planning, loaded as many assets in to the Caspian shell as poss and the only way he wins is by the sp going north or he does a deal with a mate to buy ole Caspian out on the cheap, i still believe it's the former.

Re Thursday, i'm sure those attending have a list of questions but the the last 2 A5 announcements need to be read out to our Clive, if he's in attendance and for him to explain the misleading communication before somebody takes this further. They've always set unrealistic expectations and under delivered in style but this was misleading and many PIs would have made decisions based on the comms.

I still believe that this comes good as i can't see any sense in dumping all the **** into Caspian just to offset current liabilities from family and friends ?

Drilling A9 to test the extremity of the Airshagyl structure, why spend $Xm on another deep when 3 A wells are non commercial at this time ? Makes no sense at all to me and at some juncture, the sp will appreciate, the alternative isn't worth thinking about.

Thought palindrome was a sequence that reads the same forwards and backwards ? 02 02 2020 meets the criteria ?