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West Shalva's first well should complete by mid next year - If West Shalva produces say 500 bopd from one or two wells (if it flows) CASP won't see any revenues for circ. 12 months (until the $5m from first oil revenue has been paid) i.e. mid 2026 or the end of next year at 1k bopd before CASP start to receive oil revenue, therefore CASP will have to fast track deep oil from Block 8 and BNG to ASAP which is currently 500 bopd (803 Deep Well) and 110 bopd from Block 8 which should hopefully start producing again before year end - looks like we'll have to wait sometime before the re-drilling/ testing Block 8/ BNG wells will go ahead imo.

CASP's cash position from CE/ shallows sale will see them through this time line.

They've already received $2m in exclusivity payments and revenue from 1600 bopd shallow production - this money will have already have been eaten up imo.

They've received an advance payment of $12m (which will have to be paid back if the shallow oil sale doesn't go through) of this at least $3.2m will advance oil payments will have to be deducted and day to day running costs/ drilling operations going into Q1 will be another few million bucks, buying into new mining equipment etc. another $5m and possibly 2 deep BNG license fees, so the $14m will have soon gone leaving $54m still to come and $4m spread over 4 months and the block 8 loan repayment $5m? plus circ. $6m-$7m from CE hire.

Take away the circ. $16 outstanding BNG license payment and $750k G70 payment and say $10m? share buy back dosh and CASP should end up with circ. $40m? in the bank 1H plus any deep oil revenue to boot.

So CASP will have plenty of dosh to see them through until they start receiving West Shalva oil revenue.

A5/ A6/ A7/ Block 8 wells/ West Shalva wells/ 802/803 deep wells will all eat into the circ. remaining $40m.

Just some rough numbers.

Uncertain,

''PS also protected because AIM is still protected from inheritance tax''

AIM shares are no longer fully exempt from IHT.

https://www.ii.co.uk/analysis-commentary/budget-2024-aim-shares-no-longer-iht-exempt-and-isa-allowance-frozen-ii533375

Chancellor Rachel Reeves said that AIM shares would no longer have full exemption from IHT. Instead, AIM shares will attract an inheritance tax rate of 20% if they are held for two years.......

Thanks Guys, much appreciated.

When will the 250/1 consolidation take place?

SmartyP1,

Yep lots of questions to ask, don't run out of ink ;-)

SmartyP1,

Good posy.

Q.

Is the BNG license fee circ. $15m to be deducted from the $88m or is it carried on by AR?

Glad to see confirmation of receiving the AR advance $12m payment this month, we should have around $8m in the bank after the $4m loan.

Pity about the circ. 1k bopd drop in production and one of the B8 structures being dropped, B8 reserves should be booked not long after testing, worth asking about.

As I've been saying for sometime it's all about the license renewals, ask them if they expect the 25 year BNG licenses to be given before the 12 month extension expires.

Will they make the A5-6-7 Deep Wells a priorty this year?

Ask them why their drilling company can't now buy the specialist equipment needed to remove the stuck pipe(s) with the AR/ CE proceeds, a couple of thousand barrels from 802 could soon pay for that expenditure, no doubt there'll be other stuck pipes and with 150 drilling staff you'd think they'd have the skilled people?

The BNG deep drilling ground work has been done so we should see 2025 deep production in play.

I wonder what the net pay (meters) is to test on B8?

Looks like CE drilling done - I make $10.8m in the bank after 72 days of drilling, so around $91m from CE/ AR + circ. 2,600 bopd of shallow oil revenue for a few months, 500 bopd from the 803 Deep Well, 110 bopd from Block 8 + 2 well tests due shortly and any oil from WS/A5/A6/A7/803, G70 rig, CE charter and mining operation - with deep pockets and once the license renewals have been signed off we should see CASP really come to life in the months.

Did I miss anything? oh yeah, a trading co, drilling co and a special dividend on the cards, 79m barrels of reserves with another 30-50m? barrels on the way, geez how many AIM companies have got that much going on?

It's been a very bumpy road for shareholders over the years watching CASP nearly run out of gas a couple of times with oil price crash/ COVID 19, but I've got to say with all this money coming in it'll be like a fresh start for CASP's drilling program imo - got to say with so many irons in the fire the road ahead is looking pretty good.

Un,

You smoking the weed again?

Are you Clueless Hick?

SmartyP1,

Next you'll have Belles calling you Flawless. lol!!!!!!!!

They must have read my posts ;-)

The A5 Deep Well flowed initially at almost 4k bopd before becoming blocked.

The A6 Deep Well flowed but got blocked up rocks/ fluid - on par with the A5 Deep Well?

The A7 Deep Well to be completed when the 12 month extension is signed off - on par with A5 Deep Well? it's only 1-2km away.

The 803 Deep Well flowed 500 bopd - still testing.

The 802 Deep Well flowed 700-900 bopd from an open hole - potential 2k bopd

Block 8 - 2 existing deep wells flowed 800 bopd, current flow is 110 bopd - both wells to be reworked.

Block 8 - 2 new deep wells are ready for testing - on par re 400 bopd each?

Shallows are currently producing 2,600 bopd - revenue is guaranteed for several months until shallows sale finalized, test oil produced from the 803 Deep Well will also be being sold.

West Shalva - shallow well spud expected this/ next month - oil flowing to surface.

Mining - revenue is expected straight away - operations to start in Q1?

CE - a further tender is on the books - at least another $10m in 2026.....2025?

Drilling Company - rigs hired out for a profit share - they'll need more rigs though with the work program they already have cut out.

Trading company - trading CASP and others oiler oil $5-$10+ bopd profit.

I'm not bothered about a dividend, but I'm expecting a one-off special dividend when the final $54m is paid out and possibly a regular dividend paid out later in the year on the back of the above production flow rates coming in/ spare cash. CASP will have the funding to drill and rework all these wells several times over - I don't expect they'll be hanging about with $100m+ in the bank Q1.

Personally I see production way higher than today next year from the deeps/ West Shalva and therefore a very good revenue stream for the first time - with no oil crash/ COVID 19 to contend with.

There's nothing they can do about the sanctions, which will last for several years imo, but even so they are getting roughly the same amount of dosh after tax from the shallow oil sales, especially as they can trade their own oil/ others at a higher rate to the local refineries.

CASP have never been in a better cash position etc..

To add re rigs, CASP said they would sidetrack the A5 Deep Well after the 815 Shallow Well had completed so I'd expect news of the G40 rig moving back to the A5 well site soon after testing, CASP are also said they will move the G20 rig to the Block 8 site to test the two deep wells recently drilled and will no doubt workover the two existing wells too to get them back to producing possibly 800 bopd, with G70 rig ready to restart drilling the A7 Deep Well when the 12 month extension has been signed off. Also I wouldn't be surprised to see the other G40 rig move to the A6 Deep Well to begin remedial work re unblocking the perforated holes with acid etc. or going back to either the 802-3 Deep Wells and sidetrack them instead of waiting for a Specialist to get onboard (which has taken forever) - this would save CASP splitting a share of production and they have the dosh now to do multiple sidetracks.

Which rig will drill West Shalva? I think we're going to need another rig or two ;-)

Receiving the $12m advance payment within 5 days of the accepting the terms is a material event, I'm just wondering if they've received it yet as it's over a week since the 5 day deadline ended?

The 815 Shallow Well should hit TD around now.

CE should be nearing completion, it's already into the 15 day extension for further work if needed, longer the better re $150k pd additional payments in the bank.

WS deal should be signed off this month if they're expecting to spud a well by month end, if the rig is on site spud should be soon after confirmation - though it looks like it may roll into next month now with spud window closing?

Atm it's all about the license renewal/ 12 extension, B8 is taking forever....

1H Interim report this/ next week followed by AGM, as we know multiple news events are due shortly underpinning Q4 activity - funded with some serious dosh.

3.5p with all the above news due and A5, A6, A7, 802, 803 deep wells to start redrilling etc. and G70 rig purchase to boot?

Here are some companies that produce well over a 1m oz per annum.

https://www.mining.com/ranked-worlds-top-10-gold-mining-companies/

The last company is looking to enter KAZ with a 1m oz target by 2029.

CASP have obviously been looking at prospective mining acreage in KAZ which they say will be able to produce an income straight away, gold and copper must be high up on the list of preferred mining metals - who knows what they'll pull out of it.

Belles,

You obviously haven't got a Scooby Do about major gold mining project recoverable targets and if you are referring to me saying 11p I didn't.

BTW,

2025 will be the year.....

They won't need much money to start their own mining operation, equipment shouldn't cost more than $2m especially if it mostly secondhand diggers/ trammels etc. and the acreage several grand?

A million+ ounce target of gold p.a. would be a reasonably good start to cover initial costs if it's to be a sizeable operation.

With gold and copper prices at an all time high and mined together I think CASP will be open mining these two metals, specially as sales will have a very quick turnaround.

They will no doubt either partner with an existing miner needing funds, which will mean a WI split or preferably buy new acreage that will need testing, either way it sounds like they've already done some ground work studies - the ounces per ton must be looking good. I doubt they'd be specifically looking to mine uranium etc. as the mined tonnage would massive for a small amount so I'm betting gold/ copper is what they'll be mining.

''Caspian Explorer

12 July 2024

The first commercial drilling charter for the Caspian Explorer under the Group's ownership has started as planned and on time.''

The CE drill is expected to take 62 days to complete with an additional 15 day window for any additional work if needed, taking completion between now and the next two weeks.

If the well has completed on time then we could expect to see circ. $9.3m paid out before month end? or $11.55m in October if the full 15 day extension has been taken up.

I'm hoping CASP have managed to take advantage of the 15 extension and the potential extra $2.25m.

Hopefully a RNS next week confirming completion, but will the payment be made soon after completion or 30 days after etc.?

Either way we've got $12m coming this week so we won't be short of cash, RNS tomorrow?

Mrcautious,

It should be said you are a very negative and depressing individual with a very closed mind who adds nothing to the discussion boards but a one way street of negativity not just about CASP, who are in your bottom draw, but on all of the other 10 AIM stocks you post about, all of which you've lost money on - best you give up on AIM stocks and stick to FTS100 companies. I had a look at your posting history and it was shocking to read, why do you invest in stocks you do not believe in lambasting those companies every day and their board posters, you've only got yourself to blame for your poor judgement and research? You continually moan and gripe about CASP so with a break even share price of 4.5p why didn't you sell up and move on at 8p earlier this year?

Please put me on ignore as it disgusts me to know a cretin such as you would benefit either way from my posts.

Looks like one seller selling approx. £100k, clue is the £11 trade fee. Shallows sale a done deal with a £12m advance payment due, licenses potentially signed off this month - any if these two events not happening would cause a sell off, but there's no evidence of this so I guess the seller is selling for personal reasons, imo.

CASP website (home page - Operations) says production is at 2,300 bopd -1,350 bopd looks like a typo, even so there's over $20m hitting the bank by months end with CE/ shallows dosh and Deep drilling potentially restarting to boot.

3.6p with what's going on hmm be rude not to.