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The G70 rig has been sat idle since last year waiting to spud the A7 Deep Well, we've had so many excuses as why it hasn't spud the well (planning/ testing blah blah blah).
I think even though they drilled the A8 Deep Well with the G70 rig (the seller probably let them use it before it was fully paid for) the reason they haven't gone a head and spud the A7 Deep Well is because it's still not been paid for:
16 February 2024:
''At Deep Well A7 we plan to use the G70 rig we are in the process of acquiring''.
Dec 22 2022:
''A new G70 rig, on which we expected to complete the purchase in the next few weeks, will be used to resume drilling at Deep Well A7, which was paused at a depth of 2,150 meters.''
Recently we've learned production hasn't been anywhere near 2,000 bopd as reported and more like 1,400 bopd so with Covid 19/ Sanctions it's possible they've not had the available funds to finish buying the rig and therefore the seller has stopped them using it until the full payment has been received?
They say that they want to see what happens with the A5 Deep Well, imo that means if it flow they can then go ahead and finish buying the rig with (hopefully) an increase in production - test production oil could be sold right away locally and the dosh would be received a month later, so the A7 Deep Well could restart drilling in June/ July? perhaps they'll use the shallow proceeds money if a sale goes ahead, but could be many months away?
I think at the time the G70 rig cost $750,000?
I could be wrong but that's my reasoning why the A7 Deep Well has not spud all this time.
Coffeemugs,
There you go again making stuff up with your pathetic nonsensical dribble.
Is your poor ex-missus and the kids still down south, don't worry about them they'll be better off away from your northern guff?
And don't pick on BM he's far more clued up than you'll ever be.
Coffemuggins,
WOW you've got a nerve! It was only a couple of weeks ago you told Bluemango/ others you'd only ever bought CASP at 1p and 2p, how many peeps have you tried to hoodwink.
''Adenuff ive still got the ones i bought at 2.4p 6.2.6.4 7.2 9 .10. now got some at 10.25 but only 100,000 or was it 300000 ? Cant remember as a bit lumpy for casp really, i wont be adding anymore.''
I will be making sure your hoodwinking days are over.
Coffeemug,
There you go again making stuff up.
The 4,476,923 advisor share won't hit the market until 29 April @3.25p.
What you going on about - ''advisors 4.4m stock getting churned over''?
More gibberish from the land of Gibber.
Remember the A5 Deep Well initially flowed at 3,800 bopd and that was before all the drilling fluid had been cleared.
We could see 5,000 bopd, especially if they've drilled some of the well horizontally.
With the other two shallow wells flowing we could see production triple+ next month.
Moved 1.2m shares into an ISA the other day - very happy.
Coffeemug,
Here's what you posted about how much you paid for CASP shares.
''Adenuff ive still got the ones i bought at 2.4p 6.2.6.4 7.2 9 .10. now got some at 10.25 but only 100,000 or was it 300000 ? Cant remember as a bit lumpy for casp really, i wont be adding anymore.''
You said you've only ever bought CASP in the 1's and 2's - what a liar you really are, tut tut tut.
Not a word from you, camel got your tongue?
You can hear a pin drop. lol!
Read my last post on the A5 Deep Well for enlightenment, bang on!
Coffeemug,
Here's what you posted about how much you paid for CASP shares.
''Adenuff ive still got the ones i bought at 2.4p 6.2.6.4 7.2 9 .10. now got some at 10.25 but only 100,000 or was it 300000 ? Cant remember as a bit lumpy for casp really, i wont be adding anymore.''
You said you've only ever bought CASP in the 1's and 2's - what a liar you really are, tut tut tut.
Once again you've been caught out telling lies, you're pathetic.
BTW.
If you did some research you would know the G70 rig is at the A7 Deep Well and the 155 Shallow Well would have to have been drilling over 50m per day (a miracle for CASP) for the last 4 weeks, cemented/fracked and flow tested for a few day to boot to be flowing, keep making it you fool.
Also in nearly all your CASP posts you mention a poster called Flawless, you've been obsessed with him for years and now you say BM, others and me are him, you're a demented stalker and thicker than camel dung, now move on like your wife did.
Coffeemug,
I see you're stooping lower than a limbo dancer as per your idiotic gibberish.
How did your divorce go, pretty bad I heard, but don't worry there'll be someone to look after her properly now.
C hump.
Coffeemug,
The Feb RNS said the rig was being mobilized from Block 8 and a month later the 25 March RNS said it was now onsite.
Stick to posting Bico tenders because you haven't got a Scooby Doo.
Next you'll be alleging they've paid an adviser £140K to spud A5 ...... oh hang on! lol!
Too many Humpty Dumpty's on here.
On the 25th of March the G40 rig had arrived onsite from Block 8 to sidetrack the A5 Deep Well, and if I remember rightly they were going to do a 400m sidetrack.
IF IF the well spud at the beginning of April and the drill bit was doing say 15m per day (they'll be drilling cautiously no doubt with not wanting to get the drill pipe stuck again etc. so could be less than 15m per day?) they could hit TD and start flowing the well this month end/ early May, if it did spud then, so we could get an update on A5 Deep Well next week if all good, however this will depend on if they've decided to drill the well horizontally too (how far 100m?). May could prove to be a good month for CASP with the 806 Horizontal Shallow Well due in next month along with the 155 Shallow Well completed possibly by the end of May too.
Together with a Specialists onboard to tackle the 802 Deep Well and possibly the Block 8 license renewed to boot May could see a proper share price rise.
Let's hope the A5 Deep Well is fourth time lucky.
Thought so old timer.........
Coffeemug, why do you call everyone who challenges your pork pies Flawless, is that you really - one of your multi split personalities........
No why don't you go to the drug stores old timer and a get a Jonnie Bag, lol!