Member Info for somm

Which year? They should keep their mouths shut as they obviously haven't got a Scooby Doo and have embarrassed themselves further with the below statement, even so the 2022 AP won't matter to the share price nor will the interim update that due before month end, what they have in the bank to day will as they're pretty much a shell company now. Cash in bank and any potential asset purchase news will lift the share, but I doubt they're any where near buying owt - can't drop any more surely so let's hope being listed again pushes the share price up.

''Further to the announcement made on 31 July, the Company's audit process remains ongoing albeit is now very close to concluding. Accordingly the Directors now anticipate that the Company will be in a position to publish the 2022 Annual Report before or by mid-September.''

Tomorrow Rodder's...........

CPR's are usually very conservative re RF which take years to firm up. If they can qualify 40m P1 Reserves we're in the big money.

T/O price will not just be based on Reserves at the time, but the 'potential' shown by seismic data and flow rates.

One day Rodder's, now where's our Op's Update?

Did you know 15m barrels of P1 Reserves at $30 pboo net profit equals a share price of 16p, would CASP get 100% value in a T/O?

At the moment CASP have approx. 15m barrels of P1 Reserves and 26m barrels of 2P Reserves waiting to be moved over to P1 Reserves thus far, bring on the Deeps, by the end of next year we should see these Reserve numbers increase. imo.

Just saying....

Thanks Joe, I guess a T/O rests on KO's shoulders, how old is he?

Executive Chairman rather - who is it that writes the RNS's Carver/ KO?.....

Any idea how old Carver is - how long does he have left as CEO?

If he retired would he lose his options if share price hadn't hit 17p+ before he retired?

If his retirement is around the corner would this fast track him in seeking an early 17p+ T/O in order to guarantee his options?

They knew there was going to be delays with equipment being rerouted through China and that they would have to pay upfront for it but they still went ahead with raiding their bank account with dividend payments, because they had a few extra bucks form a short lived production increase. We shareholders said at the time it was a bad idea to start paying out dividends and should wait until they have (£10m) enough money in the bank for operations to last 12 months, but no Carver insisted on paying out a dividend at such an early, which has left us with no funding for most of this year - end of year.

When I said the CEO/ COO should be fired I forgot to mention the CFO should have been fired too who should have known better than to have the cart leading the horse at such an early stage of production increases.

A6 or SY well spud is a month behind and the 142 workover to boot and God knows if we'll see the 155 Horizontal Shallow Well spud before any of these this month, which is supposed to be being spud now.

What don't we know? what we do know is what they said on the tin in July is again out of date as per - the norm.

Another month behind, roll on Monday..........Zz Zz Zz.

If the 142/ A6/ SY wells are anything to go by I would hold your breath re an immediate 155 spud.

Somethings up re no dosh no parts I guess.

Is the CASP boat ever going to sail?

Why does Carver throw timelines out like confetti - either the A6 or SY Well should have spud mid-last month and the 142 workover should have commenced working last month.

Nothing's happened since the send of last year when the 802 Deep Well got blocked with pipe/ drilling fluid, the A5 Deep Well could have been brought online years ago and be pumping 3-4k BOPD.

New management who know what they're doing is needed re CEO/ COO as it's the same old same old with delays and hot air spud/ workover announcements that end up one step forward and two steps back, which has now become norm.

By the time the fat lady sings she won't be able to get on the scales never mind the stage.

Nice one Mike :-0

I see there's a lot of rib tickling going on around here and have informed Carver and his Diddymen that this is no laughing matter as we all want news now, tickling sticks aside where's our spuds and I don't mean King Edwards!

Let's hope that's a 4-5K per day and not a month ;-0

Regarding the 802 Deep Well with mud has set and coil tubing (CT) is being used to clear it, once the CT has been removed (month end?) they will then attempt to remove the stuck pipe around the 4,100m mark, once this (IF) pipe has been removed the will then no doubt attempt to perforate the intervals and then flow test the well, so even though the CT may be successful in removing the set mud they may have to do another sidetrack if they can not remove the the stuck pipe.

So if all good re stuck pipe/ mud removed I'd say this well will not be flowing until the end of October and if they have to do another sidetrack then year end.

However, in saying all that they said they will continue to drill to the original 5,200m TD in their Q&A so this well won't be completed/flowed if that's the case until Q1 next year imo and that's id all goes well.

There'll be a lot happening in Q1-2 next year re well results and flow testing and hopefully they are not further impacted with any China delivery delays for long lead items etc., just hope they have enough dosh to pay for the equipment upfront well in advance as they've got a very active 2023 work program.

Neither the A6 Deep Well or SY Shallow Well have spud yet after a month from telling us mid-August one or the other would have spud by then - waiting on parts?

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

‘’At Shallow Well 142 a workover is planned to start at the end of August 2023.’’ RNS DUE CONFIRMING THIS THIS WEEK ALONG WITH.....

‘’At Deep Well A6 a workover to perforate a 6 meter interval at a depth of 4,300 meters is planned to commence in mid-August. This may however, be delayed to allow the shallow horizontal well planned to be drilled on the South Yelemes structure to be drilled first using the rig and crew currently intended for Deep Well A6.’’ LOOKS LIKE THEY’VE OPTED TO DRILL THE SY HORIZONTAL SHALLOW WELL FIRST AS IT’S BEEN A MONTH SINCE THE LAST RNS – NEWS DUE THIS WEEK? THEY SAID MID-MONTH SO NEWS CAN’T BE FAR OFF.

The Company has not received the payments due under the agreement to sell 50% for $22.5 million. Accordingly, the Company is in discussions with alternative purchasers for the Caspian Explorer. Further updates will be made in due course. IN DISCUSSIONS – HOPEFULLY THE SAME/ BETTER DEAL AND AN UPDATE IN THE NEXT OP’S RNS - THIS WEEK?

SmartyP1,

Yep, but that crew will be getting paid so cash will already be accounted for the 803 work program regardless, what should also be taken into account is the reason why are they outsourcing crews? it's because they do not have enough crews with their current workload - can the outsourced drill crew do better than CASP's?

We will see.

If they can drill the A8 Deep Well to 5,400m with no problems with stuck pipes, heat and pressure etc. they can drill another deep well with no problems, the A6/A5/A7 will all have been drilled and tested by the and of Q1 2024.

A6 or SY well to spud any day and flow testing should begin end of September beginning of October so we should see an uplift in the share price over the next 4 weeks.

CASP are 2 years behind on what they said they were going to do - let's hope its not 3 years.

This is the most frustrating share with the most potential I've been invested in.

The COO needs to pull his socks up - may be that's why they're outsourcing a drill team on the 803 Deep Well?

Better still we could have news tomorrow re A6 or SY well spudding, optimism at it's best ;- )

''- A6 perforation - don’t know why they’re doing this ahead of A5 as they have tried different perforations without success, I believe they used stronger explosives but still no success''

Because A5 has a stuck pipe where as A6 has rock/ fluid blocking the perforated drill holes and so it's probably easier for them to tackle perforating A6 first, which has also flowed oil to surface though the SY shallow horizontal well could be drilled instead this/next week?

Spud news is due this week re A6/SY spudding as indicated in the last Op's Update.

Yep, been saying that about the A5 Deep Well for sometime, unfortunately the current drill program puts the A6/ SY wells ahead, Xmas should see production a lot higher and a deep or two flowing.