Member Info for somm

Gritster,

Nearly a third of the year has gone and as very much hoped for the share price has been a lot lower than 3p and I've managed to moved over a substantial amount of share into an ISA around 2p (are you listening Rosie ). I know this reasoning of how to make significant sums of tax free money has been very difficult for you to understand, I mean who on earther would want to buy shares at 5p when they could buy them sub 3p with their new 2025-26 ISA allowance before the inevitable share price rise? Only you duh!

If you haven't topped up at these ridiculous sub 3p levels then don't come crying in 2H when the share price has multi-bagged from here.

Watch and learn as the many long awaited administrative/ operational events unfold in the coming months surpassing your foolish 'I'm out at 5p' target.

BTW:

What clot asks for advise from an unknown entity re when will the share price hit 5p, you couldn't make it up!

Joesoap,

If WS is a duster AB only gets 99,206,349 new ordinary shares.

It must be said though CASP have been carp at negotiating a decent sales price for their assets i.e. the $72.5m for a 50% stake in the BNG deep reservoirs re circ. 40mmbls of 'current' Airshagyl reserves and all future BNG Reserves estimates at 300mmbles (NY about to book more reserves 50mmbls? split) and then potentially thousands of barrels of oil production to boot (compare that to the 36mmbls booked BNG shallow reserves at $88m). This offer is an absolute joke, unless of course they know the amount of oil originally thought to be there has significantly shrunk with both A8/ 801 wells being dusters.

Anyway, let's see what this supposedly Galaz sized oil acquisition pans out at, IF the exclusivity agreement is for 90 days ($1m?) we should get to know next months end or so, I assure you it won't be the same deal as the WS purchase it will be much more costly in shares and cash. imo

So the G40 rig will spud the first well by the end of June not the G20 rig, let's hope it flows.

Next news on the new Galaz sized acquisition?

License renewals could still be three months off.

Hope the 200m WS share dilution is worth it.

3 March CC said:

''Two of the Group's four principal rigs are now in storage. A third rig has been identified to work on Deep Well A5 upon receipt of the full production licence at the Airshagyl structure on the BNG Contract Area and the forth rig is being prepared to drill the 2,660 meter well planned on the West Shalva contract area referred to above.''

''We have been cleared to drill at West Shalva and continue to work with the regulatory authorities to reach the same position at Block 8.''

So the G20 rig? is being prepared to drill WS after being given the all clear to drill it. That was 5 weeks ago - spud can not be to far off

Why have they had to go to the courts to try speed up the license renewal for the Block 8 third structure that's awaiting testing, what's going on at the KAZ Energy Ministry?

The G40 rig to drill the A5 Deep Well (2 rigs in storage waiting to finish testing 803/ B8 wells?).

Still no mention of the G70 rig purchase? I wonder why it drilled the A8 Deep Well to over 5,000m testing 3 intervals and the A7 Deep Well to half way and then stop? don't tell me rig broke/ pipe got stuck?

Roll on WS spud.

Bob,

CASP said the licenses for the two BNG deep reservoirs could take up to 12 months for the KAZ EM to sign off on them, we have around another three months of that window to close, so any time really.

Block 8 is in the same situ though we could see production back on line from the two existing wells that now have a license while the second structures license is signed off, a further three month window there too?

We could see a well spud on WS this month as they've been given some leeway to spud before the purchase is fully signed off. This license is probably the one we'll see drilling activity on first.

There's nothing happening with shallows sale until May, then the sale will have to be signed off by the KAZ EM and then the dosh released from ESCROW, so could be July? before the sale has completed and CASP get the dosh.

No doubt it will take many many months for the abysmal 50% BNG deeps stake sale to complete - nearer year end?

The next RNS could be about the similar sized Galaz oil prospect purchase price I reckon.

CASP have been dead in the water for most of Q3/4 & Q1-2 due to the glacial pace of the KAZ EM - let's hope 2H is the start of the long awaited drilling campaign(s) in getting the deeps flowing.

More reserves to be booked 2H, production from shallows/ deeps back up and running and a very healthy bank account with no debt.

The oil price tanking this year is something to be wary of, but I firmly believe CASP will multi bag this 2H. imo.

MrBMW,

Understanding the English language isn't your strong point is it?

Look up the difference between 'could' and 'will' for enlightenment boy.

MrNob,

''monday could see a share price rise with new isa funds being added, especially with peeps being able to buy £20k worth of stock at circ. 2.5p on monday, though i hope not as i've got large share transfers to do 😉''

Just done a 1,000,000 share transfer at 2p, luvvly jubbly.

''The Group has signed an exclusivity agreement with the vendors of an established oilfield believed to have significant proven reserves and extensive seismic data coverage.

The oilfield was first identified in the Soviet era and is located near to and is believed to be similar to the Group's former asset at Galaz, on which the Group discovered oil in 2010 and which was successfully sold in 2015 for approximately $100 million.''

How much for the EA, $1m paid from the CE dosh? how long is the EA for 3 months with 2 months left to agree on?

How much for the established oilfield that's 'thought' to have 'significant' oil reserves? will we see a capital raise or will the AR/ BNG 50% stake dosh cover the purchase price with change to develop it?

Looks good to me if they can buy it at a steal due to NO proven reserves ($30m?) like the $77m steal for a 50% stake in our 2 BNG deep reservoirs sale with circ. 40m Proven boo to the financial institution).

Is this the reason for the BNG deeps sale?

I think this deal will go ahead adding another slice to the growing pie, but at what cost?

*******,

here's a few letters to help you spell out as to why casp are dead in the water atm.

oncileenss / onwslase / on sahllwo olirveenue nwo / kza adnim glacial cape

monday could see a share price rise with new isa funds being added, especially with peeps being able to buy £20k worth of stock at circ. 2.5p on monday, though i hope not as i've got large share transfers to do 😉

Gritster,

Are you Halfabrains brother Halfwit?

Halfa...

Gritster asked where I was, happy now, Halfabrain....

Just back from a great 3 week cruise around the Caribbean then crossing the Atlantic to Madeira and around Spain.

For some of us wanting to transfer as many shares as possible from their F&S account into their ISA(s) the further 30 day extension is fantastic news re keeping the share price sub 3p - roll on Monday, though may hold on for nearer 2p and another circ. million share transfer, possibly 2 million ;- ).

Way to go,

Personally I'd have waited a few weeks, but everyone to their own.

Pity Belles, Gristster and Mr Cautious don't do what you've done and move on as they never post any research and tell everyone the share price won't hit 5p this year......chuckle.

Good luck with your new holding.

Touchstone Exploration RNS today.

1P Reserves valued at $178,800,000 net for 29,070,000 Mboe = $6.15 pb of oil equivalent

2P Reserves valued at $308,500,000 net for 50,063,000 Mboe = $6.16 pb of oil equivalent

''Realized after tax 1P NPV10 of $178.8 million represented a decrease of 7 percent from the prior year and after tax 2P NPV10 declined by 10 percent from year-end 2023 to $308.5 million.

· Relative to year-end 2023 and after 2024 production, gross 1P reserves declined by 14 percent to 29,070 Mboe and gross 2P reserves decreased by 26 percent to 50,063 Mboe in 2024.''

How much are CASP's Airshagyl 1P and 2P Reserves (79m boo 1P and 2P) AND Yelemes Reserves (yet to be announced) being sold for per barrel? $72.5m to the FI for a 50% stake in both deep structures today (with the benefit of Reserve upgrades later)? How can CASP accept this offer without first telling shareholders how many 1P and 2P barrels the Yelemes deep structure has?? that has to be known for the sale to be completed, geez!

And the shallow Reserves per barrel? (circ. 36m boo of 1P and 2P) sold for $88m?.....$88m for 36m barrels of shallow Reserves - and $72.5m for circ. 40m boo of Airshagly Reserves (50% stake) PLUS PLUS whatever the Yelemes Reserves are to boot included! SOMETHING DOESN'T ADD UP?

They've got the CE dosh and the AR dosh is coming so why the world class billion barrel fire sale, they're not strapped for cash?

Are the deep structures reservoirs way smaller than originally thought hence tentatively accepting $72.5m?

DM,

Next time mate. In the meantime you'll have to do without me, unless we get an update ;- )

All a board!!!

Yep, I might still get a sub 3p large chunk of shares transferred into my ISA yet, though WS spud or AR deal signed-off before the new tax year are against sub 3p, but here's hoping we're in the 2p's.

How much change will CASP have after purchasing the new Galaz license from the shallows sale?

Off on a 3 week cruise around the Caribbean next week. :- )

Shallows Sales: The 31 March extension is evidently down to the KAZ EM glacial paced admin not AR. Obviously nothing can happen with the $72.5m BNG deeps 50% WI stake until the shallows sale has completed.

''Acquisition of the Block 8 Contract Area

The Block 8 acquisition, which was first announced on 26 September 2022, remains dependent on the receipt of a new licence for the third structure at the Block 8 Contract Area. Appeals to the Kazakh courts to accelerate the process have to date not resulted in the required licence renewal.''

Looks like the license renewal will still take a while to be signed-off, hopefully the KAZ EM will give the nod to drill/ test it soon as with West Shalva.

Potential oilfield acquisition:

Looks like they've kicked the manganese mining acquisition idea on it's head (thank God) and have instead decided to buy another oil field. Q: how much and how will it be paid for and are they having to pay an exclusivity fee - if so how much? Looks promising with extensive seismic already done and potential Galaz sized. hmm.

Current shallow oil production circ. 1,485 bopd interestingly capped at 1,700 barrels.

Nothing happening with the CE until next year earliest.

So everything else is on hold accept the drilling of a well on West Shalva this month as rig was on it's way there last week. What's happening with the G70 rig purchase? Great to hear they are definitely drilling the A5 Deep Well as soon as deep license renewals signed-off - but it's looking months a way, there's still a 5 month window to sort the licenses out.

It's all down to KAZ EM as usual and so we continue to wait for sign-offs.

L45,

That is the $64 million dollar question.

May be the AR deal has fallen through?

They need hundreds of million for a FDP and this $85m development dosh could be a start.

$88m AR deal frees up paying out $800k pm / funds divi-buy back/ pays for WS op's-$5m/ B8 development/ Mining Co WI $5m?/ G70 rig/ stuck pipe Specialist..... blah blah blah.

Two large lumps sums could be on the way and ringfenced to fund two different strategies?

Huh are you being serious? No the FI is just an investor and will be reliant on CASP sourcing the acid wash etc. as they have been doing for years from the Chinese/ Russian/ Dutch/ Baker Hughes lab experts...(and besides who would the FI know in KAZ that have cracked the high pressure/ heat geology of the deep reservoirs that took EXXON/ Chevron/ DNI etc. 10 years to get right, and CASP only recently re A8/ 803 Deep Wells - flowing).

L45,

They're ready to acid wash the A6 Deep Well, when they get the Airshagyl license, so they will already have then acid and the CE/ shallow revenue dosh is there to buy more.

If they FI deal doesn't go ahead they'll use the AR dosh and if that deal doesn't go ahead then they'll use the shallow oil revenue as they've been doing for years, which will have built up with the deep operations halted.