Member Info for SmartyP1

Our CC worked very hard yesterday. Sadly I was out all day on the water and signal was shoite. The commentary is intended to create FUD and I urge everyone to reward the broker note and make your own conclusions .

803 RNS on 12/7 stating its being tested. As stated I believe that this is the case, no reason not to ? As stated, I believe this note was compiled pre 12/7 and before Zeus acquisition.

A block hasn’t disappeared and become unproductive. Same goes with NY.

803 success/failure - I have no idea

Q3/4 material news, all in play as far as I can see.

Quality research and professional broker note v e-mails from Clive….lol . Keep it up CC, leopard and spots, blowing with the wind, only one agenda to mislead to suit your own, yawwwwwwnnnnn.

That’s the correct number.

Loads of scaremongering yesterday and certain investors want the sp down. If 803 is non commercial, as stated, the sp would retrace. I don’t know the position, I don’t believe anybody does apart from Caspian.

The rest of the Q3/Q4 material news is in play. Those who have sold out will be the buyers if sp drops back yo the 3ps and suddenly everything will be fantastic again…..lol. Rinse and repeat cycle in play and unfortunately the 803 delay assists the knockers plight.

Some serious money being made and lost

10.5 m ??

I suspect that this note was written pre the completion of the acquisition of the WHI capital markets business and that’s why they state that testing is imminent on 803. RNS on 12/7 states that they were testing 15m interval so this note must’ve been ready to go a few weeks ago. Makes sense as Zeus finalised takeover on 15/7.

https://www.morningstar.co.uk/uk/news/AN_1721041888953454100/in-brief-wh-ireland-completes-sales-of-capital-markets-arm-to-zeus.aspx

No value to Block 8 and that is a producing field albeit only 100 bopd and 2 new deep structures drilled ?

A lot of this is a rehash of previous broker notes. The cost of shallows @ $2m and deeps @ $10m, this dropped to half those costs as they’re using their own rigs ?

As stated, every investor should read the broker note and not be duped by those who have one agenda and that’s to mislead.

Next key news is 803. Have they completed it, is it being tested. We’ll find out soon enough.

Who bought all the stock today ? 80% sells and it would’ve retraced further do somebody taking a few. Anybody tested the bid/ask through the day ?

Nope, my feedback was the cost sat with ENI.

Somm,

It’s the same analyst, our Brendan, to be expected

No, quite the opposite. Investors need to do their own research as the broker note commentary can be twisted or spun as one sees fit. A small example of damaged reservoirs. The little extract below states that drilling work on on existing wells gave damaged the natural productivity of the reservoir BUT goes on to say that completion of A7, new side-track @ A5 can be completed without damaging the natural productivity of the reservoir.

‘Production from the completed wells within the Airshagyl field have produced oil at prolific rates

(above 2,000 b/d of oil) before precipitous reductions in production and pressure (to circa 250

bar). After being shut-in, pressure from the wells builds back to circa 320 bar. We believe this set

of conditions is characteristic of a reservoir that has experienced material volumes of drilling fluid

ingress associated with high-density drilling fluid. We have a high degree of confidence in the

natural productive qualities of the reservoir. Based on our assessment, drilling operations have

damaged the productivity of the reservoirs in each of the wells.

In 2022, the company paused drilling operations at the Deep A7 well at a depth of 2,150m with the

expectation of resuming drilling operations once the rig being utilised at the Deep A5 well is freed.

We believe that the Deep A7 well represents an opportunity to drill and complete a well into the

Airshagyl formation without damaging the natural productivity of the reservoir.

The company intends to drill a sidetrack well off the Deep A5 well. In our view, the sidetrack Deep

A5 well provides Caspian Sunrise with another fresh opportunity to drill and complete a well into

the Airshagyl formation without damaging the natural productivity of the reservoir. For reference,

the Deep A5 well produced at instantaneous rates as high as 3,000 b/d of oil.

Of note, the company intends to apply a chemical treatment to the completion at Deep Well A6 to

seek to establish a sustained commercial flow rate from the well’

Those invested here, you need to ensure that you DYOR otherwise you’re going to be parted with your hard earned cash .

Zeus note reads well. Nicely presented and a good summary of the current potential although our analyst Brendan is retained and therefore the author.

Current fair value @ 10.9p. 69p (52&17p) for the current BNG deeps but nothing assessed for shallows sale, B8. WS etc. interesting that shallows sale may not complete til H1 25 and I’m happy with that, another 9-12 months of healthy current production @ 2300bopd.

Summary of H2 catalysts that can propel the sp northwards we’re going to make money here yet peeps are dumping stock this morning 😱

‘2H 2024 Catalysts: Imminent catalysts include i) a test result from well 803 at the Yelemes

Deep structure, ii) the disposal of the MJF and South Yelemes fields, iii) licence renewals for

the Airshagyl and Deep Yelemes structures, iv) the successful charter of the Caspian Sunrise,

which could lead to other work, v) production growth from Block 8, vi) well testing at Block 8,

vii) production from West Shalva, and viii) the acquisition of mining interests in Kazakhstan.

For reference, our financial forecasts do not reflect i) the potential sale of the MJF and South

Yelemes structures, which could close in 1H 2025, or ii) production from yet-to-be completed

acquisitions’

That’s Levellers post not the Zeus note

Thought it was a tad negative , we certainly don’t want CE well nearing TD. We want the usual Caspian probs and an extended drill @ $150k per day 😉

They do know how to drag things out.

CC,

Re Clive, he was still holding as far as I’m aware. Kuat, can’t disagree with that and there’s little PIs can do apart from sell if they don’t like it. We don’t want sweetheart deals and we’ll soon find out whether WS is commercial, same with B8. As far as I see it, we’re losing on 3AB and winning on the barge and will continue to do so. As I keep saying, we’ll know whether we’re finally going to make real money H2.

Downside 20% on poor 803, I’m a buyer if that materialises, if it’s successful 🚀🚀

Re Directors paying for stock and having skin in the game. Our Clive had never done that, his current lump is a salary sacrifice as a result of the Covid pressure and he still holds them. Limerick and family have paid for their stock. Shin he only options but our KO and clan have amassed their billion shares from asset for equity deals a la CE, 3AB, B8 & WS. He's won on the 3AB deal but the company still say it'll wash its face but that's a long time coming. We've won on the CE and it is a substantial asset with little current value on the balance sheet. KO also swapped the $6.4m owed to him for stock so he's absolutely all in and sp appreciation sees him become a very wealthy Kazakh.

I'm following the money and H2 will see the start of the value creation, hopefully starting with 803.

Mr C,

Not splitting hairs, it’s a fact re board understanding their PI base and who their connections are. Maybe for another time, maybe an AGM 😉

Gritster, I look forward to seeing the good news .

Nice one XP. Was it one transaction ?

Kuat’s and Clive’s 3m Options expiring 21/8. As per

Directors

Granted

Exercise price (p)

Grant date

Expiry Date

Clive Carver

2,400,000

4.0

15 December 2013

14 December 2023

Clive Carver

3,000,000

20.0

22 August 2014

21 August 2024

Kuat Oraziman

3,000,000

20.0

22 August 2014

21 August 2024

Edmund Limerick

750,000

20.0

22 August 2014

21 August 2024

Edmund Limerick

1,000,000

20.0

6 June 2019

5 June 2029

Edmund Limerick

1,000,000

5.5

10 January 2022

9 January 2032

Seokwoo Shin

2,500,000

5.5

10 January 2022

9 January 2032

Wolfi, I knew you’d say that 😂

Flippin weird market ? Could sell over 3m yesterday @ 4.54p and now 175k max @ 4.72p at the close . I’m lost as to what’s going on but almost 30 days elapsed since 803 testing started so got to be news soon. Wouldn’t surprise me to see a ‘oil flowed but not in commercial quantities. We have now successfully drilled through the crust and have reached Xmetres and casing, yada, yada OR we could get a ‘we’re pleased to announce that 803 has been flowing at 1000bopd for 30 days ‘ , I’d prefer the latter.

Https://www.mrl-uk.com/img/pdf/Stingher-900GT-4.pdf

Diver, not getting a new one but seems like a nice spec with a mandatory toilet 👍 Wolfi, I know you say rent but you can pick these up at good prices, only depreciate like half a stone 😉

MrC,

Actually you’re wrong. A company can value its shareholders, especially the larger ones who may have connections to investment. Placings, Open offers etc. May not be beneficial to smaller holders as there is associated dilution BUT you can be part of the strategy, no different to an institution so why shouldn’t one benefit . Anybody taking part in Placings, Open Offers, Rights etc has to get taken inside but they’re investing heavily into the company so why shouldn’t they benefit. CN this happen at Caspian, yes it can.

Back to the proorities, lovely day by the river 🍾🥂