Member Info for SmartyP1

Https://www.investegate.co.uk/announcement/rns/vistry-group--vty/director-pdmr-shareholding/9030514

Another chunk for our Greg. Bodes well for Q3 numbers 👍

They’re manipulating the process as they’ve done last 2 years. They could’ve released accounts pre deal closing but obviously there was a serious going concern question if it did not complete. I still can’t get my head around the ‘running on fumes’ statement.

Good to see the $7m hitting and completion by end of Aug. To me, that gives them more time to release operational updates pre return to market 👍

TCXman,

The 11/18th dates were from the AGM but maybe that timeline could move forward as the shallows deal is done bar the shouting. I’m very happy to see that timeline as it gives them more time to undate on P2 @ B8 and maybe the NY licence approval could hit to.

Feedback from the AGM attendees. Allegedly our CC advised that the offer was way too low. Maybe playing the game with AR to get deal over the line. I thought it was strange that they announced the ME deal dependant on shallow sale completing. With regards to investment, I’d much rather it came from a farm in or JV from a skilled partner rather than a financial institution. If 803 is flowing, why sell 50% of BNG now ? They have the cash to do the remedial work on A5 and complete drilling at A7, then take on investment at a sensible price. The downside is obviously there too ie nothing comes in.

Probably w/c 11 or 18/8

Somm,

The ME investor offer was a shocker but Casper were obviously in fire sale mode as there was obviously a concern that the shallow sale may not complete. A back up plan but selling the Crown Jewels on the cheap. According to Tony Bentham who attended AGM & posts on ADVFN, the deal has been kicked into the long grass thankfully. If Caspian start to commercialise BNG wells starting with 803 then maybe the ME investor will increase their offer substantially or reduce the % share considerably.

We have the cash and as you say, time to go all guns on the key prospects. About time we got lucky !!

Yep Somm. All current assets are in play except for the the CE and imo it would be a coup if they could sell it and spend the cash on the priority assets -;

- NY & Airshagyl deeps

- W Shalva shallows

- B8 deeps

As you say, any of these assets could be newsworthy before suspension lifts. If it’s the right news that increases reserves then there should be no need for PIs to ramp it, the NAV should do the talking and Zeus need to earn their fee with the revaluation. A new IP to be published when the time is right together with som targeted PR.

All about reserves and the new structure at 803 plus B8 are the immediate opps to build reserves. Airshagyl is the prize so we have to hope that they can finally work A5 out and complete the drilling at A7. Success here is a game changer and it will be interesting to see whether they attract the right investment to fund infrastructure requirements and FDP. My view, they’ll sell the BNG deeps as soon as they have proved up a couple of wells on each structure. By their own admission, they’re skill level is better suited to easier targets like the shallow/intermediate horizons. I believe they’ll end up selling BNG and B8 especially if Akkaduk is successful.

They’ll be VERY cash rich and will continue the acquisition process and flip assets for serious profit. Maybe they sell the whole shooting match, maybe I’ve got it wrong and they continue solo or include a partner.

One thing I do know, the assets are worth far more than the current sp and it’s about time they commercialise them so we can finally see a real increase in NAV. I’ve said it countless times but H2 is going to be a defining period for all invested.

Tick, tock

Wow that’s odd for somebody who was so prolific with his posting ! Nothing wrong g with a reality check and realising how much time you’re commuting to the web .

I’ve taken a step back too, have my moments but this retirement malarkey is full on, never have anytime 😀😂

As an aside, does anyone know what happened to Coffee Cups ?

Thanks for clarification. Probably a few more weeks yet and I suspect more newsflow during that period and hopefully positive 🤞

Good post Joe.I’m looking forward to reading the 24 accounts.

I sense that a lot of PIs have sold pre suspension as there would be more positive news following last 2 announcements and the likelihood that there’s probably more to come. Funny old game !

I believe it won’t be til Aug as there’s more news to come pre resumption. Not long to wait

So what does that mean UKR ?

Hi Diver,

Any Tyr says, at the AGM. I’ve had feedback from 3 parties re timing and mid Aug was the feedback from our CC. I’m fissaointed I didn’t go as important to qualify out as much as poss. Not sure if the timeline changes as AR deal only meds change of control formality.

It’s also essential that Zeus release a broker note when ready and Caspian release a new IP which new reserves updates. They need to ramp up the PR too !

Just doodling. A quick recap on our opportunity -;

NY Block

Awaiting prod licence approval to allow update on testing of new zone at 803 that was flowing at 500 bopd pre licence suspension. Structure is pre salt and far easier drilling conditions.

802 - New 3rd party to JV on well. I suspect it's Baker Hughes

A block

New sidetrack on A5. Has previously flowed at 3800 bopd but realistic expectations are c2000 bopd. Dogged by difficult drilling, heat, pressure leading to constant blockage issues as heavy barite mud stopping flow when entering reservoir. I believe Spangle would say that we're overbalanced to avoid blow outs.

A6 well - remedial acid work to try and encourage well to flow as per initial resting

A7 - drilling in progress

Block 8

Awaiting results of second well at Sholkara licence.

Awaiting licence approval on Akkaduk licence which could be very material. Abandoned Toresay structure but Clive was bullish re Akkaduk prospects.

West Shalva

Awaiting spud. Unknown opportunity at this juncture.

Caspian Explorer

I'm for binning it but I suspect that's easier said than done. They believe it's worth $60m+ so flog it and use the cash for infrastructure development need for the FDPs at BNG

Other

Acquisition opps ? I'd rather they ignore all distractions and focus on the current assets.

Shortly they will have 2 x production licences on BNG deeps. I believe that the plan is to prove them up and sell them for a considerable sum and leave the FDP to the big boys. Need 803 and A block well successes to increase reserves estimates to max out on sale price.

If Casper proves up oil at NY, A block, B8 & West Shalva, then all those dreams of the £1 party become reality again. That's what we invested for in 2007 !! Is our long wait for that huge upside about to be realised ??

Depends on news flow and plenty in the pot to come. A chunk of leverage and fearful PIs exited pre suspension so there will be a FOMO effect. I’d like to see some more good news pre return to trading but with a clear operational update to outline plans with timeline to keep investors interested.

Diver,

I'm still holding a chunk but I know of one shareholder with more stock than me. Allegedly c 400 PIs in Casper. Current free float of 250-300m max (PI shareholding) and as stated before, 10-20% of PIs hold 80% of the PI stock !!

The latest news was needed as I still can't rationalise the 'running on fumes' commentary from AGM and I've heard the same thing from 3 attendees, makes no sense to me. Repaying forward selling of oil, costs associated with AR deal (legal, tax etc), other legal costs associated with Akkaduk licence. I don't get it but 24 accounts will give some clarity but 25 interims definitely will. If the AR deal had failed, we'd have been up short creek without those Mercurys ! They've navigated some choppy waters, Covid, riots, Ukraine war and they're still here.

This has been a frustrating investment but the multi-bagging upside is still in play. 3 suspension s in a row, they're playing the game and manipulating the system. Don't release all the good news, hold some back to keep PIs interested. We don't want to see short term profit taking on trading resumption. So much news that could be released and they need to manage it. Zeus need to release a positive broker note and a new IP to follow, maybe after 803 test results and a new reserves update.

I received feedback from AGM that they would be suspended for c 6 weeks. Don't understand that as AR deal done, accounts should be ready to go but they're obviously managing the process.

It's about time that shareholders had some time in the sun, a LONG time. Is the Casper Sunrise about to become a reality ?

I’m hacked off that I missed the AGM as everyone has a slightly different interpretation. Buys and sells pretty even probably from the AGM. Attendees either different views. Probably the leverage that was hanging on for good news pre suspension.

I have the copy of the slide deck from last year and I’m hoping somebody took photos this year too.

Clive being disillusioned re AIM membership and company valuation. Nothing to do with AIM, that’s to do with Casper, lack of breakthrough results and poor comms leading to poor sentiment/credibility.

Suspension on Tuesday am an

Well, I was hoping for positive news but today's announcement is hardly news. I don't see why they have to delay 24 finals based on the AR deal ? 24 numbers are 24 numbers and the $15m received from AR can be treated separately. They obviously need the cash as I suspect that oil production revenues at MJF have reduced considerably. They have obtained the temp licence to resume work at Airshagyl. They have communicated that West Shalva is to be drilled and yet no update ? They should be in a good position financially as they received CE cash, continued to receive shallow prod revenues, earning c $200k pm interest on AR cash whilst reducing operational costs as operational activity suspended. If these facts are correct then there's nothing stopping them ploughing ahead on the operational front ? Lots of questions to be asked at the AGM !There maybe one positive outcome from suspension as per previous suspensions. They have the opportunity to continue operations and issue news whilst share trading suspended. The AGM should give a good steer as to what's actually happening and I may need to change my holiday plans to go as it's important. The selling today is tiny and probably from those who are leveraged. Anybody spread betting this will be tied in for any suspension period and would have to settle position and any margin call. Is this the time to load up on volume pre suspension knowing that there could be news on several fronts ? The suspension could be be for days, weeks or months and if the last few years are anything to go by, the newsflow released during the period has pushed up the sp come trading resumption.