Member Info for somm

‘’22 December 2022:

Well 155, a new shallow well on the MJF structure, is expected to be spudded in Q1 2023 and drilled to a planned Total Depth of 2,500 meters. ‘’

‘’31 October 2023

‘’Well 155 is due to be spudded before the end of November and drilled to a depth of approximately 3,000 meters with drilling expected to be completed by the end of Q1 2024.’’

Could someone please explain why Well 155 is nearly a year over due to spud and why have they changed the TD by 500m?

Does Chin/ KO/ Carver know what they’re doing, will Well 155 actually spud this month hmm?

Why are their numbers never the same from one RNS to the next?

‘’With the deeper structures the plan is to complete the current mandated drilling programme by drilling Well 803 and completing Well A7, before looking to bring as many as possible of the deep wells already drilled into production. After Well 803, it is unlikely any further deep wells will be drilled at the BNG Contract area.’’

Notice how they only mention BNG and not Block 8.

Block 8 has three deep structures, the current two deep wells being drilled hit TD 5 and 6 weeks ago so they will already know if there’s live oil down there - two weeks ago they said they are NOW preparing to test both wells so news is imminent as fracking and cementing will have been completed by now with the 142 Well to boot.

I would like to know if all three Block 8 structures have been drilled now, hopefully they’ll tell us in the next Op’s Update, if not then we can expect more deep exploration wells being drilled.

They wouldn't test both wells if there were no signs of oil. ;-)

They've already said 142 Well should increase production if successful by mid-November so you won't have to stick your neck out too far ;-)

An Op's Update is also due on the two deep wells that should also now be being flow tested, the question is will they lump all three well results into one RNS with a couple of spuds to boot or separately as and when?

News is imminent that's for sure....

I disagree.

They will flow test these two deep wells and let shareholders know if they flow and what the flow rates are booking the production/ Reserves later.

They will not wait until the UAE/ KAZ governments have signed off on the Block 8 acquisition leaving shareholders hanging on for possibly months/ next year guessing whether or not these two wells flow, we will get to know very soon. imo.

CASP will book the Reserves/ production once the acquisition has been completed that's a given, hopefully before YE.

We have three spuds taking place this month and I hope they RNS each spud separately to keep the news flow momentum going..........

With an Op's Update possibly out next week with three well results it's surprising there's been no uptick in buys today as flow news is very close.

Next week Rodder's......

Yep thought of that, but they had no problems flowing the first two deep wells on Block 8 would imagine they're using the same mud density.

Not sure which of the three structures these new two wells are drilling, but they are drilling them both at the same depths as the two older wells so mud density may not be a problem, could be a delay in equipment?

They had no problem drilling the A8 well to over 5,000m so they may now have the correct mud density, problems most recently have been more about stuck pipes.

The A5 Deep Well flowing for 90 days will be the one to watch re mud/ rock problems.

25 September.

‘’Drilling at Deep Well AKD-4 has reached its planned total depth of 3,922 meters and preparations are underway to test the well.’’

‘’Drilling at Deep Well T-2D, which has a planned total depth of 3,500 meters, has reached 3,408 meters. After the remaining 92 meters are completed the well will be prepared for testing.’’

31 October.

‘’Drilling at the two deep wells undertaken by CTS, the Group's wholly owned drilling subsidiary, has been completed with both now preparing for testing.’’

I cant believe it’s taken 7 weeks thus far to test Well AKD-4 since hitting TD and around 6 weeks to test Well T-2D - two weeks ago they were still preparing to test these wells?

How long does it take to prepare and test a well, not 2 months so what’s been going on, have they fracked either of these wells yet?

31 October.

‘’ At Well 142 the side track is almost complete and ready for testing, which if successful would lead to the well contributing to increased production levels from mid-November.’’

Could we have a triple gusher RNS next week?

DaisyDo,

With 3 well results and 3 spuds happening within the next couple of weeks I'm sure your buy will prove to be a good decision.

Https://www.youtube.com/watch?v=aoTuXILrp1Q

6 years later and here we go again with the A5 Deep Well etc. only this time we don’t have 5 shallow wells or 3 deep wells to get us over 10k bopd.

We now have several more shallow wells and Well 155 is about to spud and we have 8 deep wells that could potentially produce oil this/next year that could easily double the 10k bopd Carver mentions should attract a Major. CASP have said they will drill no more deep exploration wells after the 803/ A7 Deep Wells concentrating on bringing all the deep wells online thereafter, does that sound like end game is on and the feelers will be put out there?

No doubt a new CPR next year will see some sniffing....

Onejohn,

No problem.

I doubt that because it's going to take them 4-5 months to drill the A5/ 155 wells with these two Block 8 rigs so leaving the wells untested for 6 months is highly unlikely, they will test the wells within the next week or so as they have to mobilize them shortly, they can book the Reserves/ Production later once the acquisition is completed.

Don't forget the option to acquire Block 8 has been exercised and they have stated they are now preparing to test these wells.

Regulations could hold the Reserves/ production transfer up, but they will have the Reserves/ production already under their belt by the time Block 8 is signed off. If these wells flow it will make 4 deep wells flowing and they'll be able to add P1/P2 numbers - they reckon there's 100m-400m barrels of OIP with an initial 15% RF CASP could double/ triple their Reserves overnight at least and the share price would reflect that, and with the BNG results to boot their overall 'initial' P1/P2 Reserves combined could be well over the 100m barrels mark. Example @$10 pboo net profit after all taxes (they're getting $32/$34 for local sales - I'm not sure if that includes all taxes) that's 35p per share, with still a lot of oil to prove up so WH Irelands 102p isn't far off - plus international sales will eventually be back on and merger/sale % to boot?

Anyway it's looking good at long last. imo.

....Drilling at Deep Well A7, was paused at a depth of 2,000 meters. The plan is to use the G70 rig previously used to drill Deep Well A8 to finish drilling Well A7 to a maximum depth of 4,750 meters.

‘’So they used the G70 rig to drill the A8 Deep Well hmm – this deep well was drilled to over 5,000m TD with no problems. This is their most powerful and fasted rig and hopefully makes short work of the A7 Deep Wells new TD target (approx.. 450m shallower than originally planned), which is around the same depth of the A5 Deep Wells oil bearing interval(s), which is hopefully connected to the A5 Deep Well to boot. I make it 2,600m left to drill (the well was paused at 2,150m in previous Op’s RNS)’’

At both deep Well A6 and Deep Well 801 we will consider the various options in light of the outcomes at the other Deep Wells referred to above.

‘’get the G70 rig to drill the 801 Deep Wells 4 net-pay intervals one of which is 180 feet thick! – drill each interval horizontally and frack the fukc out of them with massive explosives or the 6m interval in the A6 Deep Well – the G70 is a seriously powerful rig that may be the one that stops the stuck pipe issues?’’

Drilling at the two deep wells undertaken by CTS, the Group's wholly owned drilling subsidiary, has been completed with both now preparing for testing. Success with these wells, once the Block 8 acquisition has completed, could also significantly add to production levels.

‘’What are they saying? Are they saying they will test the wells and let us know if they flow and add the Reserves/ production to CASP later once the Block 8 acquisition has been signed off by the UAE/ KAZ governments or wait until after the deal been completed and then flow test the wells? I think they will flow test the wells and let us know the results before the acquisition has completed, hopefully these are gushers and KO doesn’t change his mind if they are.’’

It's game on Rodders'.

At Well 142 the side track is almost complete and ready for testing, which if successful would lead to the well contributing to increased production levels from mid-November.

‘’On the 25th September they had 360m still to drill and a week ago were near TD so should be testing this week, 1,400 bopd back online? – the drill has been averaging at a glacial pace of around approx. 8m per day .’’

Well 155 is due to be spudded before the end of November and drilled to a depth of approximately 3,000 meters with drilling expected to be completed by the end of Q1 2024.

‘’This is a horizontal well – how far is the horizontal drill bit spurring off 100m/ 200m/ 300? They don’t mention which rig they will be using so I assume it will be the Block 8 Deep Well T-2D rig – the Deep Well AKD-4 rig is going to sidetrack the A5 Deep Well this month.’’

Well 141 is the next shallow well to be worked over with a horizontal side track with work expected to commence in December 2023.

‘’Big couple of months ahead with other spuds/ results’’.

Wells 54, 805, 806 & 807 are to be worked over using a G20 rig starting in Q1 2024 at depths of approximately 2,000 meters targeting the previously unexplored Dolomite.

‘’If they’re drilling/ fracking from 2,000m and not drilling from scratch 0m-2,000m then we could see all 4 wells online by YE 2024 – 2 months per completed workover?

At Well 802 the problem has been our inability to remove a stuck pipe to allow the well to be properly tested. Work at Well 802 has now stopped to allow the rig to be used to drill Well 803 the last of the deep wells in our BNG work programme, which is due to be spudded in mid-November and drilled to a planned depth of 3,950 meters. Drilling is expected to complete by March 2024.

‘’So they’re not drilling the 802 Deep Well to test the 4 huge net-pay intervals found at the 801 Deep Well and 250m short of the 802 Deep Wells revised 4,200m TD – looks like the 802’s oil interval is around 50m thick?’’

We are in early stage discussions with specialist international drilling companies to have them bring Well 802 into production on a success basis in return for a revenue split on that well.

‘’ how much per barrel will CASP be paying and for how long? - $2 pboo for 12 months is $730k or $1 pboo for ever? What’s the revenue split.’’

At Deep Well A5 the plan remains to drill a new side track using one of the rigs recently in use at Block 8, with work starting in November.

‘’ The Block 8 Deep Well AKD-4 rig was the first to hit TD 6 weeks ago so logic says this will be the rig to drill the A5 Deep Well sidetrack this month – could we see success this time around and 4k bopd added to production?’’

Trades are dismal atm.

You wouldn't think 2 or 3 deep wells and a shallow well have flow rate news due imminently, with several spuds to take place before year end was on anyone's radar looking at the trades.

I guess confidence has been replaced with skepticism and rightly so but you'd think there'd be a few more risk averse punters out there wanting to get in at 3p.

42p tomorrow Rodder's?

Current wells aside this quarter CASP said they would spud the 803/ A5/ A6 Deep Wells and the 155 Shallow Well and the 141 Shallow Well once the 142 Shallow Well was completed so that’s 5 wells to spud in the next two months.

Hopefully the 803 Deep Wells stuck pipe has been removed but I suspect another sidetrack will be needed, throw in the two deep wells that will have completed on Block 8 and we could have three gushers this month.

A busy couple of months and a big year ahead for shareholders.

Did someone say 42p?

Rhertig,

Nothings been reported for 6 years on the 808 Shallow Well as far as I can read back. The 2,356m-2,363m interval looked the most promising, may be it’s producing from a different well name or was full of water and abandoned with the ALL the other intervals - 2 intervals deeper intervals contained water - water getting into the shallow wells is a bit of a problem atm - hopefully the 142 Shallow Well sidetracks drill bit popped up above the OWC and we're back at 1,440 bopd shortly - we should know this/ next week.

‘’Well 808 has been drilled a total depth of 3,200 meters targeting Cretaceous, Jurassic and possibly Triassic horizons.

Six horizon’s were identified for further analysis. The lower ones at depths between 3038-3030 and 3014-3008 meters contained shows of oil films but tested water with gas and are not considered worth pursuing.

The remaining intervals between 2714 – 2716 meters ; 2646 – 2648 meters ; 2557 – 2559 meters; & 2356 – 2363 meters are planned for perforation and testing.

In the event the results of testing the remaining intervals at Well 808 indicate the presence of a significant quantity of oil a further two wells are planned for later in 2017.’’

They're working on/ preparing to work on 7/ 8 deep wells atm and at least 4 shallow wells - something has to pop soon.

Once the Block 8 sale has been signed off by KAZ/ UAE (before year end?) our NOMAD WH Ireland will no doubt have to add 100m-400m barrels to their 102p valuation (total valuation) and their 21p Fair Value (which includes 10% of deeps) and the shallower interval(s) from the 802/803 Deep Well discoveries. imo.

We're a long way from WH Ireland's 102p valuation, but by the end of next year when these 2 deep wells are producing and possibly A5-A6-A7-Deep Wells and Block 8 deep wells/ other to boot and who knows?

Production 10k+?

All the above are on the cards.

Throw in the end of the war and possible international oil sales back on - which is inevitable.

Will the two Block 8 rigs immediately drill two more wells on Block 8 (they won't have far to move them to) if the current two wells prove commercial flow rates, if they are KO will be wanting his $60m asap so we could see a big increase in activity on Block 8.

Just doodling.........

With each well being behind one another by about a week re initial flow testing they will most likely wait until all three wells have been flow tested in the hope that at least one is flowing, along a with a spud or two.

This week is in the results window.

Tomorrow Rodder's?

I'll watch that tomorrow.........

Soon be Monday ;-)

Deep Well AKD-4: Hit TD and was preparing to flow test – 4 weeks ago

Deep Well T-2D – Hit TD and was preparing to flow test – 3 weeks ago

142 Shallow Well – Sidetrack hit TD last week and flow testing this week .

Three imminent well updates that could each shift the share price with the 155 Shallow Well and the 803/ A5/ A6 Deep Wells spudding this quarter to boot.

Icing on the cake: The remaining 2,900m of stuck 802 Deep Well drill pipe removed approx., 200 * 15m drill strings – we will know if more/ all have been removed in next weeks Op’s Update or will they end up doing a new sidetrack?

Possible game changing week(s) ahead....

Yep, I now think it could be tomorrow!

But it could be Monday ;- )