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ZzZzZzZz..........add nauseam am feeling sea sick.

Possibly by the end of 2025 and with a ton of dosh coming year end they can finish drilling all 10 deeps/ WS and get a new shiny CPR done to show the would be buyers their vast oil Reserves.

19 months to sort should do it.

Says the boards two biggest traders! LMAO!

MMWWWWWAAAAAHHHHHHHH!

Has the A5 sidetrack started?

Has the flow test started?

Has the drill bit even turned since being on site over 2 months ago?

Has anyone got a clue 🤔

Thank you for your feedback and confirming what I've been saying T,

Hopefully A5 comes in soon, two months is a long time for the rig to be sat there doing nothing, thought the sidetrack would have started by now - 400m should take about a month to drill so maybe news next month if drilling has already started.

2H will be full on with lots of dosh in the bank by year end, IF the MJF sale goes through as anticipated.

Perhaps a surprise in the next RNS will be if they've managed to get a Specialist onboard - shouldn't take a week to get the 360m of stuck pipe out once dislodged or perhaps a month to mill it down if need be?

RNS will soon be out which will give us all an idea of where CASP are at.

SmartyP1,

I don't think the CE drilling will move the share price and April is now nearly June.

They will have to finish off drilling the A5 Deep Well and the 803 Deep Well so they mobilize the two rigs back to Block 8 unless the they use the 806/155 rigs onto the Block 8 site, either way Block 8 testing is a while a way.

I would have thought a deal would have been done by now with a Specialist to remove the stuck pipe, the 802 Deep Well being closest to production after the A5 Deep Well, but it's looking like the 803 Dep Well will come in first - which is still a few months away if they're still drilling at a glacial pace.

As I've said only a Specialist onboard/ Block 8 license being renewed will move the share price in the short term, which still look some way off, other than A5 Deep Well flowing.

How does Clive know the government will renew the Block 8 license in weeks (now knocking on month(s) and I hope they do though if it's anything like his drill TD timescale estimates I wouldn't hold my breath.

SmartyP1,

The CE dosh is many many months away and most of the money will be received year end going into next year.

Block8 renewed license/ sale has still to go through UAE/Kaz governments and oil-min approval so still some way off no doubt.

There's only the A5 Deep Well in the immediate near term that will move the share price, the A7 Deep Wells TD will follow nearer year end to boot.

The shallow wells 806/155 will hit TD about now and no doubt will flow and could move the share price a bit, as the shallow sale may not go through, we'll know if it's a done deal once the due diligence has been done by 8 August, hopefully it doesn't and another bidder enters the fray with a much better offer than a poxi $1.60 per barrel for 40 million barrels of 1P/2P Reserves.

After the A5 Deep Well I'm not expecting much thereafter, all the other stuff is still months off.

Not sure why peeps are getting so excited about the CE, once drilling has started it's going to take at least 2 months from then to hit TD and dosh is paid $150k per day 30-90 days thereafter.

If the A5 Deep Well doesn't flow the share price won't shift for some time. imo.

I think it will this time with new acid and drilling experience -remember they drilled the A8 Deep Well to 5,500m with no problems and flowed it at 120 bopd - a none commercial flow rate.

They're only drilling a 400m sidetrack so less chance of a stuck pipe and will reperforate the interval, which could be anywhere up to 105m net pay - they perforated 63m last time.

There's nothing they can do about rocks blocking the perforated holes, but they have a much better idea of what mud balance to use to stop the drilling fluid from turning to cement.

25 March 2024:

''Discussions have started with a potential partner to seek to bring Deep Well 802 into production, although to date no agreement has been signed.''

Another two months have past and still no agreement to remove the stuck drill pipe, there must more than one Specialist out there, how much are they asking for per barrel/ %? if it's a large upfront payment needed maybe CASP don't have it hence the long delay?

Looks like the 802-803 Deep Wells will be many more months before flowing, in the meantime there's only the A5 Deep Well that's going to shift the share price until the $83m arrives.

ZzZzZz....

It's been over two months since the A5 Deep Well was on site, news in the morning?

Must be for Clive's pork pie wagon.......

So why didn't CASP get $8.36 per barrel for their 40m barrels of 1P/2P Reserves?

I thought they would get at least $5 per barrel. I.e $200m for the shallows.

$ average can not be gone by.

Gritster,

Yep, taken with a large pinch of salt now with their 7.8p for the shallows.

10p is chump change.

I'm waiting for the 30p range 'before' the CPR is out, once it's out I will then decide on whether or not to join the Millionaires Club or hold for the Multi Millionaires Club. ; -)

There are 10 deep wells drilled/ being drilled.

The next CPR will include Block 8 three deep structures (could be big numbers with 4 wells already drilled).

BNG same as re big numbers with the two deep structures drilled with 3 wells drilled on each structure.

The icing on the cake is the West Shalva shallow structure, which could also prove up light 38 API commercial oil to boot - one or two on here think a 25 km2 area with 3D seismic structure is small, Shalva next door is smaller than WS and has 5m proven boo.

With all 6 structures drilled this year the next CPR could prove the combined Reserves to be in the many hundreds of millions of barrels, my guess would be between 300m-400m barrels with B8/WS now to add.

WH Ireland have 305m barrels at £1.05.

Don't you mean 'roll'.............out the barrel :- 0

Bottle us some ;- )

Nope, all the other stuff is in the wings in the coming months.

The 155 Shallow Well was averaging approx. just over 30m per day (25 March @ 1,000m after a month of drilling), now if they've been drilling at 25m per since for 60 days they should be preparing to flow test the well, if they have remained on track we should see an Op's Update either next week or the weeks after that should include the 806 Shallow Wells flow test too.

The big question for me is will they wait until these two wells have been tested before updating us on the A5 Deep Well, if the A5 is flowing successfully we could see a separate RNS confirming it's flowing as it's their main well and worthy of a separate RNS - it's been 60 days since it was on site readying to drill - so news next week?

I think if it's in a general Op's Update it could be bad news as I'd expect they'd want to sing and shout if it's flowing OK.

RNS 's for the past seven months have been released every 6-ish week so 8 weeks could have been enough time to complete these wells.

802 Deep Well Specialist onboard to boot?

There's worse than Max, try Ryder Scott & GKP

With the due diligence of the shallows deadline being 8 August, CASP in the meantime will be able to sell the oil for a couple of months (all helps) from the 155/ 806 Shallow Wells too until a confirmed sale date.

If these two wells are gushers and a deal hasn't materialized by then then the exclusivity agreement will end and we could see anther bidder?

I find it strange though CASP have agreed on the $83m offer before these two wells come in, which could expand the reservoirs boundaries and in turn up the 1P/2P numbers, I guess with them only producing approx. 1,300 BOPD they desperately need the dosh for B8, WS and to finish the deeps work program.

I still think they've undersold the shallows by a long shot, because what their getting back ($66m) is what they've paid to develop them therefore breaking even, imo.

Where can you buy 1P/ 2P Reserves for $1.60 per barrel?

Share price forecast today.

"The one analyst offering a 12 month price target expects Caspian Sunrise PLC share price to rise to 18.88 in the next year from the last price of 3.70."

10.0

20.0

High

410.4% 18.88

Med

410.4% 18.88

Low

410.4% 18.88