Member Info for somm

My mum had no problem with topping up this morning with circ. another 100k shares adding to her significant shares pot, she's 82 years old and knows a bargain when she sees one :- )

Note: IF the A6 Deep Wells acid wash works this time around we could see flow rates in the thousands of bopd, as with the A5 Deep Well which is a stones throw away - testing could coincide this month with the Block 8 P1 Wells sidetrack flowing oil along with West Shalva's two interval targets having live movable oil too.

Throw in the Yelemes North license renewed and Block 8 contract area signed off by the KAA this month and we could see double digits by Xmas. imo.

Not into them buying a mining prospect(s) atm with only having $23m in the bank, get production up and running from all 5 structures first.

''Expected events during the remainder of 2025

· Yelemes Deep licence award

· Completion of the Block 8 Contract Area acquisition and continuation of testing

· Target depths reached at the well being drilled at the West Shalva Contract Area

· Results of the chemical treatment at Deep Well A6 on the BNG's Airshagyl structure

· Signing of further drilling charters for the Caspian Explorer

· First mineral acquisitions''

Gonna pop........

''The appraisal licence at the West Shalva Contract Area runs until 2029. West Shalva is a new Contract Area and accordingly has no existing assessed reserves, although based on internal analysis and production from adjoining fields, the Group's operational management believes that up to 80 million barrels might be recoverable1.''

Geez! a massive jump from WS next door having a 5m barrels of oil estimate. not bad for $15m lol!

Akkaduk confirmed as having two wells, both are pending testing - no well names given.

Big month ahead!

7:30am this morning.

Crack on.....

"Results of the chemical treatment at Deep Well A6 on the BNG's Airshagyl structure".

Results are expected this month!!

I've been banging on about getting the acid wash done for months on this deep well being the eadiest and fasted deep well for a result and they have done it, we could have another deep gusher this month!!

Flow baby flow, this well flowing like the A5 Deep Well is could see a 10p+ share price rise on its own.

Never has a doubt.

Don't worry Goosy that's chicken feed.

DM.

What do you call the two sad geesers on here today? A gaggle 😅🤣😅

Grimster,

19 RNS Days well spotted!

That's the first bit of research I've ever seen you post, next you'll be saying CASP will be sub 1p by noon on the day suspension is lifted, oh hang on a sec!

DM - humour needed ;-)

MD,

Carver may have made a typo confusing the two Sholkara wells being tested with the one Akkaduk well pending testing, though obviously two wells would be great, the next Op's Update should clarify one/ two wells if reiterated or not. If two wells have been drilled and are ready for testing then at a guess I'd say AKD-3 or AKD-5.

So for that matter:

What do you call a deer with one eye? No idea.

What do you call a dead dear with one eye? Still no idea.

Hi JoeSoap,

Thanks I will have a look at the links you've provided.

Regarding the P1 Well which was drilled to a total depth of 4,203m what you have to consider is at what depth the casing was done to above the 3m interval at 3,391m. As I have said before if the sidetrack was to start from around 3,200m then the sidetrack could take as little as a month to complete or even less if the casing was completed lower down and they don't go to the original 4,203m depth (only drill several hundred meters). Do I think they have started the sidetrack, yes I do. The rig is there and they're obviously funded to complete it, especially if the well came in under budget, this won't be a lengthy sidetrack. imo.

This wells sidetrack test result could coincide with the West Shalva wells 2,300m Jurassic target being tested 'early' in mid December too, I hope they drill into the 3m interval horizontally. The Block 8 P1 Well's 3m interval is flowing oil and if the West Shalva well flows oil too we could have a double whammy on our hands by Xmas. Wouldn't that F...up the sellers if the suspension was lifted just before a well(s) update.

...........re will we have to wait until Xmas for the suspension to be lifted.

Neigh!!!!!

SmartyP1,

Why do you think they haven't released the audit reports after 12/ 6 months?

Operationally drilling wise there's nothing of significance to report on WS is a couple of weeks off the 2,300m Jurassic target by my calcs (last RNS drilling - circ. 29m pd takes them to mid-December, Block 8 P1 sidetrack only started this month and could take a couple of months/ P2 production still 800+ bopd no doubt.

NY license next year?/ Block 8 KAA regs maybe next month.

Carver said mining and charter deals would be announced after the suspension has been lifted, any Op's Update now would be a damp squib. imo.

2026 will be very busy.

Hi JoeSoap,

Thank you for your feedback, much appreciated.

Re the shallows transfer I presume the dates (RNS's) you refer to are from other websites? as those dates re the info you posted do not appear in any of CASP's RNS's, not that I can see anyway.

I don't understand why CASP didn't confirm the KAA for the BNG shallows was signed off as surely this would be a CASP regulatory requirement, they only say things are moving along abate slowly? This is where my information on sign offs isn't totally clear, thanks for the input.

Could you please copy/ paste the 'other?' websites info here to save me looking.

The disposal has been paid out between Sep 2024 $14m and $55m up to June 2025. They have had 12 and 6 months to audit any operational expenditure into both audits, the delay imo is that there are still pending KAZ EM sign offs needed, hence the auditors are still unable to release the accounts/ book the dosh etc..

Yep WS completed then and Block 8 contract area pending KAA sign off and NY license to boot.

Q:

IF CASP have been spending the $69.1m since last year (the last $7m was received 3 months ago)? then why are they having to wait until sometime in 2026 to start work on the Airshagyl A7, A6 and A5 Deep Wells - especially as the A6 Deep Well only needs circ. $1m for an acid wash (that's been planned to be redone for circ. 12 months)? There's been plenty of time for the auditors to reconcile operational expenditures.

Seems to me the auditors or waiting on the KAZ EM for something.

Anyway it's good to see I'm not alone in trying to get to the bottom of things.

23 July 2025:

The final $7m was received 3 months ago.

''The Board of Caspian Sunrise is pleased to announce that a further approximately $7 million has been received in connection with the disposal BNG Contract Area's shallow MJF and South Yelemes structures (the "Disposal") bringing the total received to date to approximately $69.1 million of the $88 million total consideration.

 Formal completion of the Disposal is expected before the end of August 2025, FOLLOWING THE TRANSFER OF VARIOUS OPERATIONAL CONSENTS AND LICENSES.''

27 August 2025:

''The Directors of Caspian Sunrise are pleased to confirm that the sale of the ENTITY created to transfer the BNG shallow MJF and South Yelemes structures has completed, with the full $69.1 million due to date received.'' So CASP and AR are all good - just need the KAZ EM to sign off on the license ownership and no doubt the KAA.

31 October 2025:

The 2024 audited accounts are expected to show a record performance for our oil trading activities despite the already announced decrease in 2024 oil production volumes in the run up to the sale of the MJF and South Yelemes structures.

 Inevitably with the sale of the MJF and South Yelemes structures oil trading activities in the current year have been affected but are expected to continue to contribute significantly to future group revenues as production volumes build from the BNG deep structures, West Shalva and Block 8, ONCE OWNED. WS/ B8 ownership can't be far off now - an update before the suspension is lifter would no doubt further boost the share price on opening but either way these are due and aren't far off.

Note owned re West Shalva and Block 8......still pending formal KAZ EM/ KAA sign offs.

We know the sale of the BNG shallows has been completed between CASP and AR with the ENTITY created to transfer the BNG shallows to AR, though as I've said we have had no confirmation from CASP that the KAZ EM/ KAA have signed off on the shallows licenses ownership to AR, we only know of the sale of the shallows between CASP and AR completing. Is this what the auditors are waiting for as the final $7m was received 3 months ago - auditors want the KAZ EM to formally sign off on the ownership transfer so they can book the 2024 $14m and 2025 $55m received. imo. 

Logic tells me after 12 months of auditing everything the auditors are waiting on the KAZ EM to sign over the shallow license/ ownership to AR formally completing the sale.

IF IF IF CASP have been spending the initial $14m received in Q3 2024 as SmartyP1 implies (which would mean them also being able to dip into the rest of the $55m disposal received in 1H this year) and the KAZ EM hadn't signed the shallows ownership over to AR - if you were  the auditors wouldn't you want to wait until the Regs had been completed?

When the KAZ EM and KAA have signed over the shallows the suspension can be lifted and the auditors can then account for any of the disposal already spent. imo.

1 May 2025:

''The Sholkara licence has been renewed. Disappointingly, the licence for the Akkaduk structure has yet to be renewed despite repeated court hearings. Licence renewals involve more than one ministry and the time the first ministry took in processing its approval for the Akkaduk licence resulted in the second ministry deeming the application to be out of time.''

It's been 7 MONTHS since the RNS stating the second ministry had deemed the application to be out of time re to renewing the Akkaduk license! 

The last we heard was the Sholkara license has been renewed, but Block 8 as a whole is waiting for the KAA to sign off on the Block 8 contract area. I don't think the KAA will need to sign off on the Akkaduk license as CASP will own the Block 8 contract area after the KAA sign off for the whole of the Block 8 contract area, this could happen next month before the suspension is lifted, with the Akkaduk license being kicked down the road for renewal under CASP's Block 8 ownership.

....

23 May 2025:

Airshagyl: The Airshagyl license was applied for in Q3 2024 and renewed 23 May 2025.

Yelemes Deep structure: 'A similar application has been made for a 25 year full production licence at the Yelemes Deep structure'. It took around 10 months to renew the Airshagyl license, I no longer think the Yelemes North license was applied for at the same time as the Airshagly license as circ. 16 months have past. This RNS says 'has' been made implying recently (to me) so IF 16 months is a ballpark time line the YN license may not be renewed until mid-next year as I've said before, however I'd like to think it was applied for in 2024 and a renewal is due perhaps in December/ early 2026.

16 June 2025:

MJF / South Yelemes disposal

''The financial impact of the Disposal is expected to be transformative on the Group's financial position and future prospects. In particular, the content of the 2024 financial statements would be very different with or without the Disposal. 

Accordingly, the board of Caspian Sunrise, in consultation with the Group's auditors, has decided to delay publication of the 2024 financial statements 'UNTIL AFTER THE COMPLETION of the Disposal, or should the REGULATORY CONSENTS BE SIGNIFICANTLY DELAYED OR WITHELD, until after it is clear the Disposal will not take place in the foreseeable future, or not take place at all.''

9 July 2025:

''Disposal proceeds:

To date a total of approximately $61.7 million has been received. A further approximately $7.0 million is due to be paid following the transfer of operational control at the MJF and South Yelemes structures, which is expected to take place later this month at which point formal completion of the Disposal is expected.''

As the granny in Legion says ''don't worry it'll all be over soon''. 😉

SmartyP1,

Yep, but could you please get on your Red ☎️☎️☎️ to Carver and confirm that as you've been saying that for months 😉

Soon be Xmas.........

Yep I believe that too, by hook or by crook the accounts will be published before year end, Carver and Co won't want to have to wait another 2 years+ to relist, with the Grim Reaper closing in on them..........

IF we see a 3.0 re a few more weeks RSN then we could see WS oil flowing and the block 8 KAA sign off beforehand adding to an even better lift to the share price on opening.

What's a 'few' more weeks, cough!

daisydo,

at circ. 29m pd from the last op's update the ws well should hit the jurassic target by mid-december at current drill speed and the triassic target by nearer ye unless they can increase the drilling speed to 44m-50m-ish pd into the 2,300m sandstone and 2,600m limestone zones on the way to td at 3,000m, do the numbers.

the ws well depth should be around 1,500m today by my calc's so a few weeks yet to drill into the first target.

they won't want to ****-up the casing mix/ rush the bonding as with the block 8 p1 well they're currently having to sidetrack due to cracks in the casing so they'll be taking it easy. imo.

why do you say the accounts will be out double quick if the west shalva well has oil at 2,300m???

Jup4it,

24p today would have CASP knocking on the £600m MC door.

Since 2015 the shares in issue pot has doubled (=12p today?) however this could be off-set with new licenses B8/ WS etc. and a ton of dosh to hand, 26m Airshagyl reserves booked with more reserves to be booked in 2025 from NY, B8, WS and Airshagyl reserves upgrade. plus pending new assets drilled.

I can see CASP's MC on it's way to £300m next year with the above and a heavy lift in bopd to boost sentiment.

Sold out in 2019 started buying back in in 2021 and now sitting on a significant amount of shares that may not have a value by year end.....or a million+ quid ;-)