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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.

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 SW 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 $43m 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/ A7 Deep Wells combined produced nearly 5k bopd, where's the urgency to get these wells flowing at $100+ bucks 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?

Lam,

Carver said in the last RNS Update that the YD (804?) Deep Well would spud this month so it's very likely we will get a RNS confirming it has indeed spud.

I think the next RNS will include other well updates to boot.

They have said the WS shallow well would continue to produce oil while they spud the second WS well before deepening it, therefore we could see an increase on the 300bopd announced - we could see a RNS released prior confirming the 99m shares have been issued as the well is likely now flowing after 6 weeks of weatherproofing?

........... On 1 January 2026 Aibek Oraziman became the new COO replacing Seokwoo Shin who then became a non-executive director on 1 January 2026. This has enabled Aibek to become the second required director to be a UK resident to meet company/ UK regulations.

Looking at the above RNS's Aibek's has chopped Shin's work program to bits. The A7 Deep Well was supposed to be the first well in 2026 to be worked on and the A5 Deep Well sidetracked, neither were mentioned in the last Update 13 March 2026. Of the Airshagyl 3 year license extension 1 year has already pretty much passed and besides drilling the A5-6-7 wells they have circ. 2 years left to drill another 3 wells on Airshagyl. The only work that's been done this year was the acid treatment on the A6 Deep Well, which is now expected to be sidetracked in Q2 when a rig is available.

To drill 3 new Airshagyl wells in the next 2 years is going to be a push with having to drill another 2 new wells this and next year on YD along with existing wells.

There has obviously been some internal wranglings and neither COO is competent if you ask me and should be replaced, they never do what they say they are going to do, Carver should be kicked out too, talks the talk but never walks the walk.

I make it that there's one free rig to sidetrack the A6 Deep Well (I'm doubting that will happen with the new wells time constraints), when it's available, so they have to drill 5 new BNG deep wells in circ. the next 2 years! The YD 804 Deep Well should spud this month, which is a start.

It's going to cost circ. $30m to drill these new 5 deep wells and time is running out, they need to bring all the current wells being worked on into production ASAP to pay for the wells and mining costs to boot. They're going to have to flog 50%-100% of BNG to fund the work if there's not enough revenue coming in and how are they going to mobilise other rigs to BNG to complete the BNG license commitments when they're needed on WS/ B8?

Anyone want a game of Kick Can?

RNS 31 October 2025

''Airshagyl

In May 2025 the production licence at the Airshagyl structure was issued for an initial three year term. This allowed operations to resume and provides the opportunity in the initial three year period to add to the state certified reserves, which are currently C1 26 mmbls. 

To date four deep wells have been drilled on the Airshagyl structure of which we believe wells A5, A6 and A7 are capable of commercial production. 

Subject to rig availability, the first well to be re-worked in 2026 is planned to be Deep Well A7, which has a planned Total Depth of 5,300 meters targeting an interval at 4,000 meters but at which drilling was paused at a depth of 2,150 meters to allow other wells to be drilled in compliance with previous work programme obligations. 

Additionally, at Deep Well A5 a new sidetrack is planned and at Deep Well A6 a chemical treatment is planned to bring the wells into commercial production.''

RNS 13 March 2026:

''Airshagyl

At Deep Well A6, which has been drilled to a depth of 4,528 meters, the plan is to drill a 600 meter side track from a depth of 3,800 meters targeting Permian fractured dolomite and anhydrite, subject to rig availability.''

Thoughts to follow..............

JD,

Once you've added the initial circ. 400m share plus WS 100m share and 5m for last mining acquistion to the shares in issue pot plus another circ. 300m shares to the pot within 5 years = 3.13 billion shares.

At $1b MC (circ. £800m).

Works out out at around 25p per share.

I think you may be a great granddad by then ;-)

Well when you think about it the 803 Deep Well flowed 500 bopd and the WS well flowed 300 bopd and the B8 PI Deep Well flowed 270 bopd and is testing a second 6m target and the P2 Deep Well flowed 846 bopd and the A6 Deep Well flowed and the A5 Deep Well flowed 3,800 bopd and the 802 Deep Well flowed 900 bopd.

They've all flowed and we should have an update on the 803/ P1/ P2 shortly with WS to boot.

Drill baby drill or is that flow baby flow :- )

Just to add a UK listed company must have at least two directors residing in the UK so perhaps Aibek (CASP's COO) has moved to the UK (where he was educated) to meet UK company regs, and Carver is the other UK resident director?

Just a thought.

If Aibek were to all of a sudden no longer be a UK resident would that indicate a T/O was on the horizon, follow the money.

Logic would would say the website was uodated after the Kazikhan acquisition RNS on tbe 23 March.

How long does it take to fit a pump or test a 6m interval?

Not long ;- )

Un,

Today, 1 USD = 473.86 KZT

1 Barrel Crude Oil = $92.7 USD

Do the maths.

Note CASP are not selling any oil atm so how can you that?

At circ. $75/$80 pb they were getting $36 pb net for domestic sales.

They need Brent to be $100 pb to get the same net profit for net export sales as they would for domestic net sales and I very much doubt they will be selling any oil on the international market anytime soon.

Therefore if the Strait is opened this month and CASP start selling their oil domestically next month, getting paid a month later / exported oil is paid on after 2 months, by that time the oil price will have dropped significantly imo, so I'll stick with what CASP were getting paid pb.

CASP can make circ. $10 extra pb through trading, but don't forget there will also be some other taxes like royalties to pay pb.

CASP have said oil sales will be made through the domestic market not the export market.

Where are your figures?

Un,

CASP were getting around $32 net pboo, times that buy the USD/ Tenge exchange rate and voila!

Https://oilpricez.com/kz/kazakhstan-oil-price

Potential monthly net revenue.

803 = 500 bopd

B8-P1   = 800 bopd

B8-P2   = 800 bopd

WS1 = 500 bopd

WS2 = 500 bopd

Circ. 3k bopd without any other wells (A5/ A6/ A7/ 803/ 804/ WS2/ Akkaduk 1 & 2 wells).

Oil is hovering around $100 pb which will have lifted CASP's domestic net oil price to circ. $40 pb. I think the oil price will stay above $80 pb for a while yet and then drift back to around $50-$60 pb once the hundreds of millions of barrels on the water start to hit the market.

If CASP could get those 5 wells flowing in the short term they could still benefit from a high oil price.

3k bopd @ $40 net pb = $3.6m per month/ $43.2m per annum.

3k bopd @ $30 net pb = $2.7m per month/ $32.4m per annum.

It will take CASP a few months to get to 3k bopd and I wouldn't be surprised to see CASP knocking out 10k bopd by year end/ Q1 with net revenue dwarfing the current MC.

West Shalva is about 20 miles from the nearest refinery so not too far to truck the oil and get it refined there and sell it on at a higher price through their trading company, the refinery then sends it down the main pipeline to China.

Just a bit of forward thinking while we wait...............

Yes their website gas been tweaked and the acquisitions of Kazikihan and Tau Cen have been added.

Still no mention of the akkaduk license pending.

The two ISA trades this morning could be my two mates (husband and wife) buys after Friday night chat, will ask.

WTF RNS?

Come on you lot get your hands down the back of the sofa and Rosie that bank job dosh needs a home ;- )

WTF RNS? or tomorrow with Carver having a lie in today.......

Un,

If they did build a pipeline I reckon it wouldn't be built until after the other 5 'new' BNG wells were online and then it would probably take a year to be operational, so earliest I'd say 2030+...............if still around ;- )

I mentioned this a while ago re Carver talking about building a 20 mile pipeline spur to join the main Chinese pipeline to save on trucking costs etc..

One day Rodders.

One month on Monday re last Update on seveal drill fronts happening - this month.

RNS on Monday/ Tuesday re either 803 pump fitted/ P1 6m interval Tested, 804 spud news I reckon.

Funny how the neg heads have all gone quiet, accept Rosie of course ;- ).

Rosie Lee, be a luv and put the kettle on before the good ship CASP sets sail.

Hope you put your £20k ISA allowance into CASP before next weeks RNS is out as we wouldn't want you to miss the boat.

T,

A very nice amount, double mine.

I don't think the B&ISA transfers show as a sell/ buy on here etc. because it's not 'new' shares. The settlement date for my transfer is today, no doubt yours will be the same, look at your transaction note for your settlement date.

Got in at 8p sold out at 13p in 2019 and started accumulating again in 2021, first tranch was at 1.7p. :-)

CASP have a lot going on atm and tbh I'm surprised there's not been much buying at circ. 2p-ish with new ISA dosh. Watch peeps start buying in 'after' the horse has bolted.

Don't forget to invite me on your yacht ;- ).