Member Info for somm

It's been circ. 3 years since the process of buying Block 8 started and we recently found out the license for the Akkaduck structure is being processed by two KAZ oil ministry's with CASP having to go to court to push the license through.

The West Shalva license/ transfer from the seller to CASP is still pending the KAZ oil ministry's sign off, CASP have said work can begin which will cost circ. $3m and a spud was expected months ago. 

The Yelemes Deep structure is still waiting on the KAZ oil ministry to issue a new 25 year license, which was applied for circ. the same time as the Airshagyl license  - that was issued months ago.

The BNG shallow structures licenses and transfer from CASP to AR is still pending a formal sign off eben though the sale agreement/ dosh between CASP and AR has completed.

It's evident the KAZ oil ministry is holding up operations with internal wranglings and an administration(s) that move at a glacial pace, which in turn imo has prevented the Absolute Resources(AR) dosh being accessible until the AR license/ transfer handover has been formally completed by the KAZ oil ministry therefore stopping CASP from funding the West Shalva $3m P1 Well spud, Yelemes Deep 803 testing and 803's 400m stuck pipe from being pulled out, Block 8 Akkaduck P1 testing (owners are unable to test until Akkaduck until the license issued?). The shallows license transfer to AR is the main cause stopping CASP from moving forward with operations.

CASP are obviously frustrated with the KAZ oil ministry with Carver having to tell shareholder just a few more weeks for the 2024 audit report to be done, like I've said I think the reason for the delay is CASP/ auditors don't want to add the AR dosh into the 2024 audit report until the license/ transfer has been formally done allowing CASP to fully access the AR dosh, why else would they have to wait a few more weeks to an already 2 month overdue audit report to be completed?

WRT the Yelemes Deep and Airshagyl 25 licenses CASP have said there will be no license fees for three years (historical costs) so I reckon when the three years are up CASP will have to pay two new quarterly license fees for circ. 22 years or so depending on how long it takes for the YD license to be issued, could be one fee wrapped into one term though.

So all in all we can see CASP are ready to go with their already operational RNS'd plan, which may now need updating cough, so we'll have to wait for the KAZ oil ministry ink to dry, then audit report/ suspension lifted hopefully by month end. imo.

Lamoroma24, 

We all do, that's something everyone agrees on. lol.

Carver said the end of August circ. a couple of months ago for the suspension to be lifted and I said whatever he says add a month and now here we are possibly looking at the end of this month for when the AR deal is formally signed off. I assume we'll get the 2024 audit report RNS and then CASP will in turn give us the date the suspension will be lifted - by month end/ early October.

Getting the audit report imo will confirm the KAZ EM have formally transferred the ownership of the shallows to AR therefore removing the risk of the $88m ($71m received) having to be returned to AR.

And so we wait a few weeks more...........

Bull,

Try get this into your head CASP are still waiting on the AR deal to be formally signed off by the KAZ EM which is out of CASP's hands, hence the 'few more weeks' comment by Clive.

And besides the auditors wouldn't post the accounts knowing there's a chance (tiny) that the KAZ EM don't sign off on the handover.

Andianz, because they're both n_obs and imo CASP had too many options to raise funds to prevent a delisting - on top of the bopd revenue, selling Airshagyl for one and they have 550m shares they can issue.

Gritster,

What did you say ''the share price will never be higher than 4p'', whose the one full of bull caca? - you! WTF-tops up on a stock they have no understanding of or faith in and trashes it all day every day - you lol!

Stick to buying Tesco stock because oilers are not for you, especially CASP.

Soon be 4p and off you go........

Gritster you dim wit CASP will be around for years unlike you who'll be gone by month end, soon be 4p lol!

''RNS: 23 May 2025.

Airshagyl structure.

In Q3 2024, shortly before the expiration of the previous appraisal licence, an application for a 25 year production licence was submitted to the Kazakh authorities.

In awarding the licence the Kazakh authorities have accepted C1 reserves based on the area within 100 meters of the wells drilled on the Airshagyl structure of approximately 26 mmbls. During the initial three year period it will be possible to upgrade the assessed reserves based on future drilling.

Yelemes Deep structure:

A similar application has been made for a 25 year full production licence at the Yelemes Deep structure, which extends over an area of 36 km2 and on which three deep wells have to date been drilled.''

''RNS 14 June 2024.

The Board of Caspian Sunrise is pleased to update the market with news of newly assessed reserves at the Airshagyl structure, one of the two deep structures on the BNG Contract Area.''

So we should get a Yelemes Deep (YD) reserves estimate before the YD 25 year license is issued if the above timeline is to go by.

I think that even though CASP are still testing the 803 Deep Well they will have enough data from the three drilled wells to book initial YD C1 reserves so we could see reserves booked pretty soon in order to get the new 25 year license renewed. The downside is after the Airshagyl reserves were booked it took circ. 11 months for the Airshagyl 25 license to be issued, which could take the same length of time for the YD license renewal, so the question is will we have to wait until circ. July 2026 for the YD license renewal to complete?

Will we see YD reserves booked while we're suspended? either way the faster they're booked the faster the KAZ EM can issue the 25 license.

We could also get some initial reserves booked from one of the Block 8 structures too this year as they will have lots of data from over the years/ production to Analyse - roll on handover.

To add.

''The sale of the entity created to transfer the BNG shallow MJF and South Yelemes structures has completed''.

This is a sale/ agreement between CASP and AR and the KAZ EM have to formally sign it off. imo.

Guys,

Yes CASP have acknowledged that the full $69.1m has been received AGAIN and the 'entity' to hold the shallow structures has completed, which imo was a side point to the main reason for the RNS, which was to ease shareholders fears re being delisted tomorrow and to confirm the suspension would be lifted in a few weeks time.

The sale of the entity created to transfer the BNG shallow MJF and South Yelemes structures has completed, the license transfer and ownership of the shallows to AR has to be signed off formally by the KAZ EM why do you think they are estimating another few weeks for the sale to fully complete, not for the auditors I'm sure, but the ink.

If they had access to the initial amounts ($54m/ $7m) $69.1m they would have already dipped into it with sidetracking the A5 Deep Well, the acid wash on the A6 Deep Well and the A7 Deep Well re-drilling, and spud AWS to boot.

CASP is the Mystery Machine.

''I think buying 100k a day would be enough to really push the sp up, there’s not that much liquidity in Caspian. ''

Are you mad? There's currently 2.35b shares in issue lol and they wouldn't buy 100k shares back on a daily basis - ''not much liquidity''? they have $69.1+ million to hand lol and there's 550m shares available to CASP for various share issues.

Badgenator - I don't think you've got a Scooby Doo. lol.

And how are they going to buy back shares today whilst in suspension and no access to dosh until the shallows deal is formally signed off by the KAZ EM? and doesn't the share price have to have a 3-5 day etc. average share price trading range?

Like I've said I don't want them to, and have suggested several times before suspension to buy shares back then when they were 2p but the dosh wasn't available as the deal wasn't/ isn't formerly done. I said they would need to buy all 550m available buy back shares to make a real difference to the shares in issue pot (soon to be 2.45b share in issue)/ share price, but that's out of the window now, after suspension buying back $1m-$5m worth of shares here and there would hardly effect the share price, but would be good for all round sentiment.

If the share price rockets to high single/ double digits imo there's a good chance they won't bother buying back shares on a large buy back scale or even a small regular one.

CASP will be a new animal after the suspension is lifted and everyone had their chance to get in/ top up when the share price was circ. 2p.

Fortune favors the brave..........

It's also worth noting CASP will get US$4 million paid in equal monthly instalments from the 120 day period post shallows sale completion, payments should start around Jan/Feb which in turn should help pay for the initial license fees of B8/ WS, and with regards to any tax having to be paid on the $69.1/ $4m shallows sale proceeds I'd guess the historic cost/ spend on the shallow structures would off-set the bulk/ all of any tax due?

In 2023 I said 2024 would be the year then 2025 then 2026 which is now looking to be the case with plenty of dosh in the bank to redrill/ test pending wells that already flow etc..

I for one hope they do not do a share buy back until they have drilled all the wells and production is in the many thousands of bopd then use the surplus cash to do monthly/ quarterly buy backs/ dividends - both?

Before suspension is lifted: Will the Block 8 P1 Well be tested/ flow circ. 876 bopd too within the next month/ will the West Shalva P1 Well spud, will the A6 Deep Well acid wash happen all adding to an already expected significant share price rise on the day?

Will the owner of Block 8 now be paying CASP back the $3.2m loan dosh from the 876 bopd from the P2 well.... and P1 - already giving CASP an income today, plus the test production oil from the 802/ 803 Deep Wells to boot.

One things for sure CASP are going to be in a very healthy financial position for the foreseeable future.

8p?

You do realize they now have $69.1m, no BNG $800k quarterly fees to pay out, two 25 year deep BNG licenses, forward oil payments settled (no debt), $3.2m B8 loan repayment, Airshagyl reserves booked and Yelemes deep reserves soon to be booked, 9 wells to drill/ redrill (at least 5 wells flow), Block 8 and West Shalva soon to be formally CASP's, CE charter(s) $6m-$7m paid, Galaz sized prospect purchase in the wings after due diligence completed, with suspension lifted and hitting the ground running with 803/ 802 wells 700/ 500 bopd/ P2 wells 876 bopd and P1 still to test and the Akkaduk well test pending, A5 Deep Well to sidetrack/ A6 Deep Well acid wash and A7 Deep Well to finish drilling, plus sentiment which will go through the roof initially and in the coming months on operational activity.

When the share price was 8p they never had half of what they have now now and licenses were lapsing.

Double digits are on the way if you ask me😎💸💸💸

Thanks SmartyP1,

Much appreciated.

I wonder if CASP can spend the dosh before the shallows are formally handed over, I think not hence the delay with the 2024 audit re just in case the KAZ EM don't sign the transfer off (unlikely), and CASP are playing it safe in case they have to hand the dosh back.

"Further to the notice released on 28 July 2025, the following companies have been suspended 40 business days without indication of resumption.

"Indication of resumption".

Russle must OK with Carver indicating a 'few weeks' .

I emailed CaSP re delisting concern.

"The board expects to publish the 2024 audited accounts in the next few weeks, following which the suspension of trading in the Company's shares is expected to be lifted".

A few more weeks, I guess they're still waiting on the KAZ EM to formally sign the transfer off.

Also gives more time to update on NY/ B8 licenses and WS sale formally signed off too.

They must have told Russle a few more weeks to satisfy their 'intentions'.

Never any doubt, cough......

Thank God.

So no delustjng.

Contacts:

Caspian Sunrise PLC

Clive Carver, Chairman

+7 727 375 0202

Zeus Capital Limited, Nominated Adviser & Broker

James Joyce

James Bavister

Andrew de Andrade

+44 (0) 0203 829 5000

Phone Carver / Zeus.

That's right, let's see what happens tomorrow.

CASP imo could post the 2024 accounts tomorrow with a suspension date without the shallows being formally signed off and stick the dosh into 2025 YE report, CASP have obviously been hanging back for the KAZ EM and missed the 40 day deadline. CC/ KO would have been very aware of the 40 day rule so must have a plan to post the 2024 YE accounts before Friday?

Let's see what tomorrow brings.

A delisted company can relist on the FTSE AIM indices, but they must be treated as a new issue and meet all eligibility requirements for a new listing, including a minimum 12-month p

eriod from the date of deletion before being reconsidered.

CASP have 'indicated, suspension lifted end of August, not sure if that counts, but Russles are the caretakers of the FTSE Russle AIM index.

I expect CC to clarify CASP's position in

the morning, suspension/ delisted are two different things let's see what happens on/

before 29th.

.

Kaz holidays next Sat and Monday 1 Sept so perhaps a September 2024 YE RNS. :- (

Will they sign off on pending stuff prior, never say never.