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Will we see this time around an interim report up to 31 March 2026 released this/ next month now the decks have been cleared?

WTF another blank, next week then Rodders......

"1 December 2025

UAE Claim

A current and three former shareholders are seeking to bring claims against the Company and certain of its Directors for US$25 million before the Dubai Courts, principally on the basis that as the shareholders concerned did not approve the disposal of the MJF and South Yelemes the transaction is not valid.

On the basis of advice from leading commercial lawyers in the UK and Dubai and also from one of the world's leading professional services consultancies the Directors and Company believe that the claims have no merit and are therefore being vigorously defended. Accordingly, no provision has been made in these financial statements."

Jimmyg1,

It's already been circ. 6 months since the claim was lodged in the Dubai courts (why Dubai?) so surely not another 6 months?

Why would these 3 former/ 1 existing shareholder think they could vote against the sale with Aibek/ Directors being the bulk % shareholders, who are able to sign off on pretty much any resolution?

CASP sound very confident the case will be thrown out - done and dusted by summers end?

Rosie,

The share price is low because of the $25m court case and the 500m shares that are soon to hit the shares in issue pot imo with potentially another 300m to boot.

With no production/ revenue at the moment these combined factors are what are mainly supressing the price. Imo.

GMO,

For me, the reason why the share price hasn't started to move to where it shoud be (it will when these 4 wells finish testing shortly) with having $23m in the bank and all debt cleared and the fact there's been no confirmed oil revenue coming in is the elephant in the room that you and others don't take into account as tovwhat is playing a very big part in the share price being 2p is the $25m court case hanging over CASP, which if they lost the case would see their $23m in the bank (probably circ. $19m? now) snuffed out. The Directors/ 4 different lawyers reckon the case will be kicked out.

When that happens the share price will respond positively with the cash in bank uncertaintly/ going concern gone, leaving revenue from 2k+ bopd soon and all the other stuff re charters/ new wells drilled/ completed sidetracks, Akkaduk license - 2 wells to test and reserves booked across 5 license to boot.

Try better understanding the above neg/pos effecting the share price today.

I don't see them acquiring any more mineral mining licenses as the ones they now have should be enough for them to deal with re CAPEX wise and I doubt they'd want further share dilution/ costs.

Plus with the pending oil production that will increase the share price they wouldn't be able to to swap shares at 5p?

With the new mining equipment costs and new oil well spend commitments etc. I think they are done with new acqusitions.

"currently not favorable".

Are you having a laugh?

803 flowing 500 bopd

WS flowing 300 bopd

P1 flowing 846 bopd

P2 flowing 270 bopd

Not seeming, but doing.

An update on these wells that are further being flow tested with significant increases expected is due any day.

Not favourable at 2p, uh?

GMO,

In fairness both WS and Block 8 acquisitions have proven to be good deals with both blocks flowing oil, reserves will likely be booked on Sholkara this year, with WS to boot.

We'll have see re the mining acquisitions but on the face of it they look promising.

I think BNG will be sold off after reserves have been booked on YD to fund their mineral mining and they will keep WS/ B8 until reserves have also been booked there too, enabling them to become a mineral mining company only.

They could then hire/ sell the oil rigs for additional dosh?

"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 over one year since the second ministry deemed the Akkaduk application to be 'out of time'.

So after one year of wrangling is the new Akkaduk license application now with the second ministry?

On 11 July 2025 we were told the Block 8 area license was nearing approval, 6 months later on 28 January 2026 it was approved. Nearing? had to laugh.....not.

Evidently the EM's move at a glacial pace, but over one year to re-approve the (already submitted paperwork) Akkaduk license application is taking the p iss.

How much longer will we have to wait before we can flow test the two drilled Akkaduk wells?

"March 13 2026

Yelemes Deep

Deep Well 803, which had an original planned total depth of 4,500 meters with a primary target at a depth of 3,950 meters and a secondary target at a depth of 4,200 meters, was drilled to a depth of 3,420 meters before work paused towards the end of 2024 for the renewal of the licence. At that time the well had produced for a short period of time at rates of up to 500 bopd from a 10 meter perforated interval within a wider 60 meter interval showing indications of oil between depths of 3,360 and 3,420 meters.

Work is underway to install a pump to resume production from this interval."

The good news here is they must be confident in that the 803 Deep Well will continue to flow freely with higher pressure andvtherefore more bopd than the initial 500 bopd fliw rate without blockages if they're fitting a pump, the bad news is they won't be drilling to the 803's primary target 530m deeper down nor the secondary target at 4,200m (below the salt layer), TD 4,500m, a new well targeting the primary and secondary targets will no doubt be drilled after the 2 new deep well 25 year license commitments have been drilled.

"We also plan to drill a new deep well near the site of Deep Well 801, which was drilled to a depth of 5,050 meters but later abandoned. A G70 rig will be used to drill the well, which will have a planned total depth of 5,000 meters targeting Permian dolomite/anhydrite, and carboniferous limestone. The well is expected to be spudded in Q2 2026 and reach its planned total depth by the end of Q3 2026."

I'll eat my hat if the new deep well hits the planned 5,000m TD by the end of June in circ. in 3 months time using the G70 rig.

The A7 Deep Well was using the G70 rig and was paused at 2150m, would anyone care to confirm how long it took the G70 rig to drill to 2,150m, way less than half of the planned 5,000m TD?

Aibek is no different than Shin in feeding Carver unrealistic drilling timelines.

Dampener alert: I don't see this new deep well flow testing until at least September.

Now where's that pump?

If they'd have drilled a metre ph they'd be in China by now 😂🤣😂

Does milling down the A5 Deep Wells stuck pipe 7 years ago and doing an acid wash deem as a sufficient effort to get the well flowing again? How many times has Carver/ Shin said in a RNS they're planning to do a new sidetrack? Why was the planned 400m sidetrack not mentioned in the last Update?

It beggars belief that this well having flowed circ. 3,800 bopd from a (105m gross interval?) has not had the kitchen sink thrown at it, perhaps it too was actually thrown down it, cough?

''17 January 2019:

''Deep Well A5

The well was drilled in 2013 to a depth of 4,432 meters. High pressure resulted in the well becoming blocked with excess drilling fluid and debris from the reservoir.

Subsequently a side-track at an angle of 15 degrees from a depth of 4,082 meters was successfully completed and a 5-inch liner run to the new bottom of the well.

Potential oil-bearing intervals of 105 meters have been identified.

For 15 days between 23 October 2017 and 27 November 2017 the well flowed at the rate of approximately 3,800 bopd before being restricted by a partial blockage, resulting in the flow rate falling to some 1,000 bopd.

Recent attempts to clear the well have been hampered by unwanted metal being lost in the well. Attempts to pull the metal from the well were not successful and the Company decided to remove the unwanted metal by using specialist milling tools to grind it down to a level where it should not interfere with the operation of the well.

Current position:

Caspian Sunrise is pleased to report that milling operations continue to make progress at a current depth of 4,152 meters and expects to be in a position to test the well in the not too distant future.''

Not too distant future? Could someone give Mystic Meg call?

After Shin's departure why isn't Aibek all over getting this well to flow (the dosh is there) with Shin's planned 400m sidetrack - which wouldn't take long to drill?

Perhaps keeping the share price subdued is his goal while he off-loads his mining assets for hundreds of millions of CASP shares?

DM,

Yep, and no new IP detailing seismic data, well locations, interval depths and flow rates, topography etc. just scant and badly worded operational RNS's that require deciphering.

They should arrange a Q&A podcast with the COO that provides shareholders with operational answers directly from the horses mouth, emails go unanswered and Carver is just the messenger.

If the directors had poured all their attention into flowing Yelemes Deep/ Airshagyl instead of leaving these wells in limbo for years we'd be producing X,000's of bopd today, they didn't have to take the G70 rig off the A7 Deep Well to spud another shallow well as they'd already been offered the shallows dosh by that time, so what was the point, the A7 Deep Well might have been flowing by now instead of being kicked down the road again along with the A5 Deep Well, they've probably had to kick A5/ A7 Deep Wells down the road now with 5 new BNG deep wells 2 and 3 year drilling commitments re the two BNG 25 year licenses.

Rigs?

2 Yelemes Deep wells are to be drilled before the end of next year and 3 Airshagyl deep wells drilled before the year after.

1 rig tied up on Block 8.

I rig tied up on West Shalva.

I rig tied up sidetracking the A6 Deep Well.....and A5 Deep Well this year too?

It's going to be tight with only a couple of rigs available this year, hopefully they don't breakdown!

Why has Aibek CASP' s new COO decided not to drill the A5 Deep Well that initially flowed 3,800 bopd with the previously planned 400m sidetrack instead preferring to drill the A6 Deep Wells 600m sidetrack that has had no confirmed initial flow rate numbers?

Why not simultaneously sidetrack both wells now, rigs have been available for months?

They could have done these sidetracks years ago instead of drilling the A7 Deep Well, which was suspended 2 years ago to drill a shallow well with the G70 rig that was supposed to drill the new 804 Deep Well in April.

Rigs have been sat in storage since way before CASP started receiving the shallows dosh early last year, why haven't they been dusted off sooner to do these pending sidetracks?

Why are they doing sidetracks on the Block 8 wells?

Why drill the second West Shalva well before deciding whether or not to drill the first well deeper into the Triassic now, then they could drill the second well deeper into the Triassic knowing if it flows?

My frustration isn't with the share price, it's with the cause and effect.

That $5m paid over 12 months will be eaten up by the West Shalva $5m still to be paid out to the seller on it flowing, plus there's another 99m shares that have yet to be added to the shares in issue pot. I think new mining equipment was touted at $10m.

CASP will also be spending millions on B8/ WS/ YD and Airshagyl this year.

CASP have the recent $1m Tau-Cen mining loan to be paid back and the Block 8 $3.2m loan, which will help offset the above outgoings along with oil revenues that will be currently being paid from West Shalva's 300+ bopd (and YD 500+ bopd and Block 8 P1 Deep Wells 800+ bopd......and the P2/ A6 Deep Wells later on.

Will we see the 2025 Y/E report this/ next month showing the current cash in the bank?

An oil rig is generally not needed to install a pump on a well (803 Deep Well), pump jacks (or "nodding donkeys") are installed by service cranes or workover rigs, not large drilling rigs.

CASP have 5 rigs.

There's one rig on WS and one on B8 and no doubt one is idling at the 803 Deep Well site, that leaves two other rigs including the G70 rig, which is meant to be drilling the 804 Deep Well in Q2.

They have had way over two months to drill the 400m A5 Deep Well sidetrack or the A6 Deep Well 600m sidetrack, which is waiting on rig availability, uh?

Any of these three available rigs could have been used to drill these sidetracks (a month to drill a short sidetrack) or even spud the WS second well.

The G70 rig is supposed to drill the 804 Deep Well in Q2, it could have drilled both sidetracts since 13 March RNS, has it even been mobilized to the 804 well site?

The WS well was producing 300 bopd, which is expected to increase significantly due to further weatherproofing over the past 2 months (6 months), production hasn't stopped so has the flow rate increased, where's the Update? They should be getting another $10+ pb ($40 pb) for local oil sales with oil $100 pb, oil revenue must have been being generated from this well over the past months, as far as I understand it will continue to flow until the second well has completed.

What's happening with B8 P1 Deep Well sidetrack to boot?

News on 5+ wells is due so RNS(s) must be imminent.

Could someone tell Clive to put the pork pies down and give Aibek a kick.

WTF happened? next WTF then........or Monday/ Tuesday 🤔

Aibek like Shin is feeding Carver unrealistic timelines re 804 Deep Wells April spud from 2 months ago.

Carver is just a pen pusher relaying what's been said to him and the old/ new COO's are not capable imo of managing the operations competently.

A5/ A7 kicked down the road, will the A6 Deep Well actually do the 600m sidtrack before the end of next month?

Why drill the 804 Deep Well next to the abandoned 891 Deep Well and not nect you the flowing 802/3 Deep Wells?

Why not flow news on WS/ B8 after more than 2 months?

I guess the new COO has been too busy transferring his assets into CASP?

Total transfer value of his mining assets ($45m+) would pay him back circ. $135m-$180m with a share price/TO price of 15p-20p, not a bad pay day.

Going by the KAZ EM glacial pace I don't think CASP will have to start spending any of the $10m+ equipment upgrades etc. any time soon, leaving plenty of time for production revenue to start coming in from WS/ B8/ YD and Airshagyl topping up the bank balance .

Next week Rodders.........

D,

Installing a subsurface oil pump (such as an Electrical Submersible Pump or a Rod Pump) at a depth of 4,000 meters (\(>13,000\) feet) typically takes 3 to 7 days, though complex operations can extend this to over a week.The time required depends heavily on the type of pump, the capacity of the workover rig, and the depth. At 4,000 meters, a significant amount of time is spent "tripping" pipe (running 4,000 meters of tubing in/out of the hole).Key Factors Affecting Installation Time:Tripping Time: A general rule of thumb for deep wells is approximately 1 hour per 1,000 feet of well depth for a round trip (12–14+ hours for a 4,000m/13,000ft well), excluding handling time for tools.Well Type: A simple rod pump insert might take a few days, while an ESP (Electrical Submersible Pump) requires careful handling of electric cables, increasing installation time.Workover Rig Capabilities: Larger rigs with faster hoisting systems can reduce trip times significantly.Downhole Conditions: Potential issues like scale, sand, or deviated holes can increase the time required to run the pump to the desired depth.Typical Installation Sequence (Approx. 4000m Depth):Preparation (1–2 days): Moving in the workover rig, rigging up, removing the "Christmas tree" (wellhead), and killing the well (circulating fluid to control pressure).Unsetting/Pulling Old Equipment (1–2 days): Pulling out the existing production tubing and old pump.Running New Pump (1–2 days): Running the new pump and tubing into the well (4,000 meters).Finalizing (1 day): Setting the packer, installing the wellhead, testing the pump and surface equipment, and starting production.For high-depth or challenging wells, the entire workover procedure can take up to 10 days to ensure safety and proper installation.

What I'm saying is they've had circ. 7 weeks to install a pump since the RNS 13 March. The well could have been flow testing weeks ago, which is why I said we should know any day now, not in another 2-3 weeks, let's see, they may give an indication of how long they've flow tested the well in the next RNS.

Other than the pending circ. 300m/ 99m shares being added to the shares in issue pot there's nothing really holding back the share price, so it's pretty amazing that the share price is where it's at with the many pending operational outcomes in play, sentiment should be lifting the share price significantly as the company is now a different animal, moving forward the rear view mirror is just that, all eyes front peeps.

D,

If the new well drills another 84 API oil interval it will be no doubt be abandoned, again, unless the world will need more jet fuel with the Straits being closed ;-). The 801 Deep Well had 4 very thick intervals between 6m-56m think, fingers crossed one or more flows.

The 803 Deep Well pump should have been fitted by now, it doesn't take two months to fit a pump, so hopefully it's currently being tested as we type. They said the well pressure has built up so it could pump a much higher flow rate than the 500 bopd. The WS well should have a better flow rate after the weatherproofing - Carver reckons the flow rates could be 'significantly' better than the previous 300bopd to boot so we could see 1k bopd initially from these two wells. The A6 Deep Wells 600m sidetrack should only take a month to drill, if no blockages, could we see another A5 Deep Well on our hands?

The next few months should see a few wells completed and a few more being drilled and tested.

Here we are again WTF! with TF for the new COO Aibek Oraziman to prove himself in doing what he says re the 804 Deep Well spudding in April as stated 6 weeks ago by Carver, with the new WS shallow well spudded too and the A6 sidetrack to start drilling and the 803 Deep Wells pump fitted to boot?

Since Aibek Oraziman took over as the new COO he has sold his mining companies to CASP for over $45m and circ. 800m shares (potentially a 30% dilution), no doubt the deal included him becoming a company director being listed as a UK resident for regulatory purposes, a distraction to getting the A5/ A7/ 802 Deep Wells sorted after years of being idlily stuck in limbo, A5/ A7 once again have been kicked down the road? The A5/ 802 Deep Wells combined produced nearly 5k bopd, where's the urgency to get these wells flowing with oil at $100+ a barrel?

Many companies are now posting their 2025 YE reports, will CASP do the same this/ next week now their accounts are up to date?

Just to add. Why drill the 804 Deep Well to 5000m next to the 801 Deep Well that produced oil with an 84 API, that was abandoned with the G70 rig, has 1 of the 4 intervals shown to have moveable oil with a better 40-ish API? It will take 6 to 8 months to drill this well, why not drill next to the 802 Deep Well that flowed 700-900 bopd with a good API or next to the 803 Deep Well and through the salt layer, better be worth it.