Member Info for somm

Gritster,

You had your chance to move on before the suspension, but here you are. You've said a couple of times that you will never post on here again ever, but here you are like a lingering bad smell, see you in 18 months.

It's going to take 18 months for CASP to get through the current 9 wells/ drill other wells and book further reserves, and buy the Galaz size prospect and drill it. A touch of reality needed Gritster, you can sell at your 4p share price target month end, but will you, nope!

Yep, I can't wait for CASP to get cracking on with work across the 5 licenses soon to be 6.

18 months from now and production/ share price will be a million miles away from today.

"11 July 2025: Testing

Test production from Deep Well P2 has increased to approximately 876 bopd using a 4mm choke.

At Deep Well P1, the well has been perforated across an interval of 3 meters from a depth of 3,391 meters in preparation for testing to commence."

Another 20 days on..........the P1 flow test result can't be far off and Akkuduk license signed off/ testing to boot in Q4.

Once B8 ownership is transfered to CASP we could have 2k bopd on the books overnight, with reserves to book in the wings from another 2 structures.

We should see the rigs being mobilized next month to the A5/ A7 well sites, more oil by YE from these wells and the A6 Deep Wells acid wash?

Lol, let's hope it's more slush (fund) than mush, I'm hoping for more news coming out before the suspension is lifted i.e. P2 flow rates and Yelemes Deep license signed off for starters............

I make it 5 KAZ administration sign offs to get done before CASP can start Op's on each block - if they can use the AR dosh now then we could get an Op's Update on Airshagyl work progressing, but I think the shallows oil sale has to go through fully first, let's see.

Yes exciting times ahead.

Daisy, don't you read my posts ;- )

Like I've said many times take Carver's timelines with a pinch of salt and double them, what the KAZ EM decide is absolute excuse then pun but true, Carver can only guess how fast their glacial pace might be.

With COVID/ Oil price crash and sanctions we're more like 3 years behind operationally.... now the dam is about to burst.

It's not engineered, the longer wait is due to the KAZ EM signing off on the shallows licenses ownership transfer, then CASP can do the 2024 YE report as the AR dosh will then be fully accounted for.

I'd like to see the P2 well flowing and the Akkaduk well tested/ license signed off and Block 8 renewal license then transferred over to CASP before the suspension is lifted, but with two KAZ administration departments dealing with the Block 8 25 year license renewal that's wishful thinking, but you never know. I think we'll see P2 flow test result out shortly and the Yelemes Deep25 year license can't be far off to boot.

The opening share price is already going to hit 4p+. If you add in B8/ YD/ SW and BNG shallows signed off before the suspension is lifted then you can double that. I've seen several shares over the years come out of suspension 100's of % higher than the closing price, I expect the same will happen here if we get the above news beforehand. imo.

...was perforated 11 June, 18 July a 3m section was confirmed as having been perforated.

After 10 days of the well being perforated we should hear any day if this well flows, positive flow rate news will add to the opening share price when suspension is lifted, by mid August we should definitely know the flow rate by then, if either/ both Yelemes License/ Block 8 license are signed off by then too who knows what the share price will open at?

If it had all been smooth riding none of us would have been able to amass millions of shares, let's not forget that too, we know the potential and that's why most have stuck with CASP.

Optimism is back, they've got the dosh like never before and they've been able drill below the salt layer (A8) with no problems and can go back to drilling the 9 wells across their 5 oil bearing structures.

Yep its been a tough long ride, but it's about looking ahead now not into the rear view mirror.

When the suspension is lifted CASP will fly out of the gate and new money will poor in and not give a toss about the past and those who rode the ups and downs, though they will be jealous of those who managed to accumulate millions of shares that will be worth tens of thousands of pounds per penny.

Yep, not forgotten but soon to be forgiven.

''(Alliance News) - Caspian Sunrise PLC on Wednesday said it has received a further USD7 million payment relating to asset disposals worth a total of USD88 million.

The London-based mining company focused on Kazakhstan's oil and gas sector is in the process of selling two structures at its BNG mine, known as MJF and South Yelemes.

So far, Caspian Sunrise has received USD69.1 million of the USD88 million consideration. Of the USD18.9 million outstanding, around USD5.1 million is due over a 12-month period, which starts six months after the sale completes.

A further USD13.8 million will be received quarterly over the next five years to match historical cost obligations.

The disposal is expected to complete before the end of August, following consent and license transfers.

Back in June, Caspian Sunrise delayed the release of its 2024 results due to the "transformative" impact of the disposals at BNG, its primary contract area. The firm was suspended from AIM trading on July 1 after missing the reporting deadline. Later in July, regulators granted approval for the BNG disposals.

Caspian Sunrise is currently pursuing the acquisition of the Block 8 contract area, also in Kazakhstan, and said in June it was nearing the end of this process.

The firm's shares remain suspended in London as of Wednesday.''

I like this bit:

''Caspian Sunrise is currently pursuing the acquisition of the Block 8 contract area, also in Kazakhstan, and said in June it was nearing the end of this process.''

By the end of August? with potentially 2 * 876 bopd and the Akkaduk well still to test - 2,500+ bopd plus B8 Reserves booked by YE?

And that's just one slice of the pie.

''12 September 2019

Deep Well A8

As previously announced drilling at Deep Well 8, the fourth deep wells to be drilled at BNG and the third on the Airshagyl structure, paused at a depth of 4,520 meters to consider whether it was best to continue to the planned Total Depth of 5,300 meters or to seek to perforate the well at the levels already identified.

Agreement was reached with our drilling partner Sinopec to seek to perforate intervals of, in aggregate, 47 meters identified from wireline analysis and logging. The target intervals for perforation were between depths of 4,346 meters and 4,499 meters.

The perforation work took place over the weekend of 7 & 8 September, and intervals in aggregate of 47 meters were perforated without incident. Since then we have been gradually reducing the density of the drilling mud and will continue to do so over the next few days.

We are pleased to report strong initial gas shows followed by a steady flow of oil and drilling mud, estimated at the rate of 400 litres per hour.

We expect the drilling mud to be fully recovered in the next few days, after which we will be able to get a more reliable estimate of the flow rates, using a selection of choke sizes.

We are also pleased to report that the oil recovered to date is of very high quality with an API of 84.

Further updates will be issued in due course.''

Did anyone spot the amazing API?

The A8 oil has an API of 84 geez!!!!

If CASP could get the A8 Deep Well to flow 1500+ bopd again (drill a new well/ sidetrack with AR dosh?) would be great, the outstanding API 84 would be highly commercial and would no doubt increase the RF, I originally thought the initial RF would be 10-15% increasing to possibly 30% after 12 months of production but now I've seen an API of 84 then surely after 12+ months of production this could rise to 50%, the porosity isn't too good but they've only drilled within a few clicks of three wells with 58km2 to drill out to.

Still baffled as to why this well wasn't included in the Airshagyl Reserves estimates with very light oil flowing (1500 bopd for 7 hours) low porosity or not, especially as there's 58km2 to drill, the A7 Deep Well has zip oil thus far and was included?

Oh well..............

And even more........................much much more 😉

"Formal completion of the Disposal is expected before the end of August 2025, following the transfer of various operational consents and licences."

Carver says the formal completion should be done before the end of August, but the operational consents and licenses sign offs are down to the KAZ EM so it could be longer.

Question is can CASP now spend the $69m or do they have to wait for the formal consent to complete, potentially pushing the Aushagyl operations further back?

Sounds like CASP can't do the 2024 YE report until the deal has formally concluded even though the $69m has been received and the rest paid out later, but what's stopping them from accessing the dosh now?

More flow rates from Block 8 due any day now.

And Akkaduk license approved quack quack....

And I would like to think that CASP will go back to the A8 Deep Well that according to Carver has a gross oil column of circ. 160m that (49m perforated) stretches the whole 58km2 of the Airshagyl structure and try getting it to flow again, adding more reserves from this seemingly massive oil interval.

I wonder if the Yelemes Deep interval(s) will stretch the whole 36km2 to boot?

Why include the A7 Deep Well and NOT the A8 Deep Well in the reserves estimates?

Thanks Joe:

First off apologies to The New Norm,

CASP did indeed mention in a one liner I missed in 2019 that the A8 Deep Well flowed at 1500 bopd, the well must have flowed 1500 bopd between 4,343 meters to 4,499 meters where they say they were doing acid treatment to get the well to flow.

The 120 bopd that's been referred to must be from the 2/ 3 intervals deeper down closer the to 5,300m TD.

So yes, firstly why wasn't the A8 Deep Well included in the Airshagyl reserves estimates if oil is there (flowed 1500 bopd for 7 hours) and secondly now they have the AR dosh will they go back to the 4,343 meters to 4,499 meters zone and do a sidetrack/ new acid wash? Why include the A7 Deep Well and the A8 Deep Well in the reserves estimates?

Was any of this picked up on /asked at the AGM?

''RNS: 1 December 2020:

Deep Well A8

We have completed acid and hot oil treatments at the well targeting the interval between 4,343 meters to 4,499 meters.

A consistent flow of oil has yet to be established but we believe that oil is present and that it is the low permeability of the reservoir near the wellbore that is impeding the flow.

Rather than use coil tubing equipment, the results from which have to date been disappointing, we are erecting a G40 drilling rig over the well to continue the cleaning process including reducing any near wellbore formation damage caused by previous drilling. This requires the use of pipes currently in use at Deep Well A5.

Once successfully completed we intend to establish flow and conduct testing. In due course we intend to drill a further approximately 800 meters to a depth of 5,300 meters to test deeper reservoir targets as originally planned.''.

Will they go back and try again to flow the 801 Deep Well now they have the AR dosh?

Yep, get these two wells flowing a baby Tengiz could be back on track.

''As previously announced our plan to bring Deep Well 801 into production was by drilling a side track of between 450 – 500 meters from a starting depth of 4,501 meters.

Having identified potential oil bearing (net-pay) intervals covering in aggregate 121 meters so far during the drilling of the side-track, we have decided to stop the side-track at a depth of 4,851 meters and, after running and cementing a 5-inch liner to the full depth of the side-track, to test the well.

Four potentially oil bearing intervals have been identified during drilling and supported by mud log data. The first of 6 meters between 4,535 and 4,541 meters; the second is of 20 meters between 4,554 and 4,694 meters; the third is of 59 meters meters between 4,635 and 4,694 and the fourth is of 36 meters between 4,812 and 4,848 meters.

The pressure in Well 801 remains high indicating good connectivity. As the side-track has been drilled using lower density drilling mud we expect the task of getting the well to flow to allow testing to commence should be easier than previously drilled deep wells.''

I was very surprised to read a couple of years ago that the 801 Deep Well had been plugged and abandoned with having four POTENTIAL oil bearing intervals, none were flow tested probably down to poor core oil saturation?, unfortunately it's down as being a duster/ none commercial along with the A8 Deep Well which flowed 120 bopd from 2/ 3 intervals, which means to me the hope of BNG being a baby Tengiz will not be the case, and initial Airshagyl reserves are proving this to be the case. re 1C 49m barrels/ 2C 29m barrels (26m barrels within 100m area). Until proven wrong I believe the BNG deep OIP/ Reserves numbers have reduced from the initial 300m Recoverable barrels estimate. For a proper reserve estimate the A5/ A6/ A7 Deep Wells all need to flow for 12 months along with the 2 Yelemes Deep wells, and more wells drilled further out to all four boundaries on both structures.

Hopefully the Block 8 reserves from the existing structure and the new Akkaduk structure and the Galaz sized structure they're looking to purchase will together bridge the lost barrels of OIP/ Reserves once thought to be there on the BNG licenses.

BTW.

Could someone on the other board tell The New Norm that the A8 Deep Well did not flow 1,500 bopd as stated again today - show us the RNS you claim to have read that is flowed 1,500 bopd. I'm surprised no one over there has challenged this continued misinformation.

If the 200m-400m salt layer had lots of sizeable fissures/ fractures through it wouldn't the pressure a few hundred meters further down where the A5 oil flowed be a lot less pressurized, same with the pre salt 803 wells 60m oil zone which seems to have a good seal with good pressure so I'd guess the oil hasn't migrated from further down and has formed naturally millions of years earlier. The 802/ 803 Deep Wells have yet to pop the salt layer so they won't know if the oil deeper down has migrated (to the 60m zone). Could the two wells be connected? Initial reserves from Yelemes will no doubt only be coming from above the salt layer. Just my penny's worth.

They didn't know the 803 60m oil bearing interval (15m net pay thus far) was there up against the salt layer lol! This could be a small reservoir around a 1m boo RF or so as the interval wasn't detected on the seismic data by Baker Hughes/ CASP imo so I doubt this will be a massive reservoir in the multi millions of recoverable barrels, the size of the prize will be determined below the salt layer.

The 802 Deep Well flowed between 700-900 bopd from an open hole above the salt layer, let's get that stuck pipe out so we can flow it properly and then drill deeper down!

The question then is do they do a sidetrack or carry on drilling through the salt layer to the two main target depths or drill a new well?

''25 May 2022:

Deep Well 802 is planned to be spudded in June. This well will have a Target Depth of 5,300 meters''

''4 November 2022:

The Company remains encouraged by the strong oil shows from Deep Well 802. Following an extensive cementing exercise we are now preparing to drill a side-track from a depth of 2,416 meters to a depth of 3,900 meters to target the first interval of interest from which the oil encountered to date has flowed. If successful and based on current timings we expect to test the well before the end of the year.''

Background

Deep Well 802 is the sixth deep well to be drilled at the Company's flagship BNG Contract Area and the second deep well to be drilled on the Yelemes structure. It is also the final deep well the Group is obliged to drill to fulfil the BNG work programme commitments. The well is being drilled close the site of a Soviet era blowout and our advisers have provided us with the highest estimate of success for any of our BNG deep wells drilled to date.

The well had an original planned Total Depth of 5,200 meters targeting oil in the easier to drill Sandstone rather than Carboniferous rock, with an initial target at 4,300 meters below a salt layer between depths of 3,580 and 3,860 meters.

Oil was encountered sooner than expected at a depth of approximately 3,900 meters and before the well had been completed, leading to a decision to drill a new side-track from a depth of 2,416 meters to approximately 4,100 meters, targeting the oil at the higher level previously encountered.

''30 January 2023:

Current position

Approximately 100 meters remains to be drilled to complete the side-track. Nevertheless, after encountering strong gas flows the well has flowed over a period of 3 days at rates fluctuating between 700 and 900 bopd measured on an open hole basis.

Work continues with Baker Hughes to stabilise the well. Once the well is completed it will be perforated with the prospect of potentially higher flow rates.

The current production from Deep Well 802 brings the total production from the BNG Contract Area to in excess of 3,000 bopd.''.

The 801 Deep Well was a duster, but the 803 Deep Wells 60m oil bearing zone could make up for that re reserves/ production, and booked reserves