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So if the starting point will be around £200M. The stockprice will be x3 / x 4 so between Minimum price: between 12P-16P
So yeah $200 million could be a starting point, especially as we're told there in talks with multiple interested parties.
Https://www.whirelandplc.com/research-portal#/portal/whireland
What does it say?
Altynbek Bolatzhan is indeed related to Kuat Oraziman, the CEO of Caspian Sunrise. Altynbek Bolatzhan is Kuat Oraziman's adult nephew and has been involved in the oil and gas industry in Kazakhstan, though not currently for Caspian Sunrise. He holds approximately 1.3% of the company's voting rights
Caspian Sunrise PLC
("Caspian Sunrise", or the "Company")
Proposed Acquisition of CS Energy LLP
Approval of Waiver Obligations Under Rule 9 of the City Code on Takeovers and Mergers
and
Notice of General Meeting
Caspian Sunrise is pleased to announce it has executed documentation relating to the acquisition of CS Energy LLP which holds the licences to the West Shalva contract area for a maximum consideration of US$15 million.
The Acquisition is conditional upon, inter alia, the approval of Shareholders of the Resolution (including the Waiver Resolution) which will be sought at the General Meeting convened for 11.00 a.m. on 26 April 2024. The Circular, containing the Notice of General Meeting, is being published and made available to Shareholders today.
Unless otherwise indicated, defined terms in this announcement shall have the same meaning as described in the Circular. The expected timetable of principal events and the Chairman's statement from the Circular are set out further below.
Highlights
· CS Energy to be acquired for maximum consideration of $15m, split into three tranches:
o $5m to be paid on Completion by the issue of 99,206,349 Ordinary Shares at a price of 4.0p per share;
o $5 million is to be paid following the first oil at West Shalva by the issue of a further 99,206,349 Ordinary Shares to be issued at a price of 4.0 p per Ordinary Share; and
o final tranche to be the first $5 million revenue from West Shalva once under the Group's ownership and payable in cash.
· CS Energy is wholly owned by Altynbek Bolatzhan, who is a member of the Concert Party, and as the Concert Party's shareholding would increase from its current aggregate holdings of the Existing Ordinary Shares of 48.49% of the Company's total issued share capital to a maximum of 52.66%, a waiver from Rule 9 of the Takeover Code is being sought at a General Meeting.
· The West Shalva contract area is rectangular in shape and extends over approximately 25 km2. It is located in the oil producing Zhetybay Steppe Area in the Mangyshlak region of Western Kazakhstan.
· West Shalva is adjacent to the more established Shalva, which has C1 reserves of approximately 5 mmbls and is believed to be producing at approximately 400 bopd. In comparison to Shalva the Directors believe that 3D seismic shows the West Shalva Contract Area to have a wider anticline area than the Shalva contract area and that the West Shalva reservoir is higher than at Shalva and considered by the Directors to have better sealing.
· The Directors believe that drilling at West Shalva would be far less challenging than at either BNG or Block 8 as at West Shalva wells would be drilled to shallower depths and without the extreme temperatures and pressures encountered at the deep structures at BNG and Block 8. The oil from West Shalva is expected to be 37-38 API with 20-30 wax. Additionally, West Shalva is located closer to treatment
Deep Well 802
The plan at Deep Well 802 is to clear the drilling fluids blocking the well using coil tubing equipment and then to complete the well ready for testing.
The coil tubing work programme is underway and is planned to complete by end September 2023.
Caspian Explorer update
The Company has not received the payments due under the agreement to sell 50% for $22.5 million. Accordingly, the Company is in discussions with alternative purchasers for the Caspian Explorer. Further updates will be made in due course.
Told you we had to wait a bit longer! nothing changed. Told you in March already they had to clean 802. Now and they are still planning to provide cleaning operations with a coiled tubing company. So the 42P will come.....
Goodmorning, they are still cleaning 802 as Fido told before!
There is no other info at the moment.
Just use google translate, investigate websites (partners) in Korea, make friends with the company Casp and you will all know the status..... buy now live later! 42P will come soon