Member Info for somm

The MC = CE everything else is thrown in for free.

You guys will no doubt become members of the CASP millionaires club, soon be 16p ;- )

WRT the new YE deep wells spud location.

''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.''

The 801 Deep Well flowed 1,500 bopd for an hour or so with an API of 84 and was later abandoned. The well encountered 4 very sizable intervals and looked very promising until they unexpectedly abandoned it.

Q:

So why drill another YD well next to the 801 Deep Well, why not drill a new well near to the 802/ 803 Deep Wells where they know they flow commercial quantities of oil with a good API? if there is live moveable oil in any of these 4 intervals won't they have the similar API oil?

Or drill two new YD step out wells widening the immediate recovery vicinity and increasing the P1/ P2 etc. reserves estimates?

804 Deep Well spud this month?

Confused .com.

''At Deep Well P1, the well has been perforated across an interval of 3 meters at a depth of 3,400 meters to allow testing to commence.''

''At Deep Well P1, the well has been perforated across an interval of 3 meters from a depth of 3,391 meters in preparation for testing to commence.''

I wish they'd make their mind up re depth.

Anyway, did anyone notice the P1 Deep Well at the Sholkara structure was perforating a 'new' 6 meter interval at a depth of 3,467 meters?, before the rig moves on to drill the 400m sidetrack on the P2 Deep Well, we should get news on the P1's 6m flow rate shortly, that's a minimum of 9m of net pay to add to reserves estimates, what will the P2's 400m sidetrack add? The Akadukk license can't be far off with another two wells ready to flow test.

With 803/ WS wells / A6 news this month to boot.

DM, yep this years ISA allowance is locked and loaded in readiness for multiple shots being fired.

951,264 transfered @ 2.1p happy days.

I see new ISA money got in @ 2.1p too * 2 trades.

Got to be in it to win it.

Done my £20k B + B share transfer early morning, hopefully no RNS's until settlement completed.

Big April/ May ahead.

Un,

This will be the very very very last chance imo to B + B at 2.10p mid price, potentially being able to transfer circ, 900k-1m shares into a tax free ISA on Monday before a possible uplift RNS/ new ISA dosh hits the share price, peeps will want to take advantage of 2p-ish buys early doors on Tuesday no doubt.

So I for one am extremely happy to be able to transfer so many shares again on Monday as I never thought it would be possible for another year at circ. 2p.

March winds are behind us and April showers..........of oil are upon us ;- )

Yelemes Deep will see the 804 Deep Well spud and the 803 Deep Wells pump fitted.

Carver reckons the 804 Deep Well will hit 5,000m TD by the end of Q3 which means to have any chance of that happening the G70 rig must spud this month, otherwise he's talking a load of boll ox again with his Q3 timeline - more like November if you ask me.

Three weeks ago CASP said work was underway to resume production at the 803 Deep Well by fitting a pump - so we should see production before month end of 500+ bopd. imo.

Block 8.

Three weeks ago at the Sholkara structure testing work continued to perforate a new 6 metre interval at Deep Well P1 at a depth of 3,467 meters. so we should see production before month end 500 bopd?

Once the P1 Deep Well has completed the rig will then move to Deep Well P2 to drill a 400 metre sidetrack from a depth of 3,100 metres targeting oil in the Permian dolomite, could we see the well spud before the end of April? either way it should take less than a month to complete so new flow rates announced in May. -  500 bopd?

West Shalva.

A new shallow well is planned to spud this month should take around 3-4 months to complete so flow testing in July - 500 bopd?

Could we see production this month from the existing well back online that's being weatherproofed, 500 bopd? this well will be deepened later, I guess they want to continue testing the Jurassic interval in the meantime.

Could we see the A6 Deep Wells 600m sidetrack commence in April to boot?

All in all April is looking to be a very busy month with no doubt lots of production on the cards.........at long last.

Got to be in it to win it.

You can B & B shares into your Stocks and Shares ISA from your Fund & Share Account with Hargreaves Lansdown on bank holiday Monday, 6 April 2026.

This should avoid risking a much higher share price when the market opens on Tuesday, 7 April.

In a 56km2/36km2 worldclass puddle of........ oil?

Un,

The US has already sunk 50 Iranian ships in the Caspian Sea.

With this and russian oil terninals being blown up by the Ukrainian army it's unlikely we'll see the CE anchor lifted any timw soon due to the risk.

Doesn't stop a CE charter be signed though.

Lower the better for the next two weeks as it will be the last chance to B&B £20k worth of shares in the 2p range into a tax free ISA before the inevitable share price rise.

2p = 1m shares transferred from a Fund & Share Account into a Stocks and Shares ISA.

If you're reading this Clive no more RNS's until after 6 April.

"As of March 2026, 1,000 kg (one metric ton) of manganese is worth approximately $2,770 for high-purity metal, while raw manganese ore is valued significantly lower, between $150 and $450 depending on the grade.

The value depends entirely on the form and purity of the manganese: "

They're currently getting $120 pt so below par atm. This will be sent to China to be refined.

It will take a couple of years to increase production 20 fold.

......and after taxes/ running cost p.a. I'd say they'd be making $10m+.net.

Increasing the tonnage to 20 tonnes would generate circ. $29m p.a.

Knock off $5m for new equipment.

Yep, but 2C is Probable i.e. a 50% chance of it being there. Pilot holes/ core mineral samples will have given this number, until Proven and gold could go back down to $2.5k per ounce (already down $1k from a week ago) so $50m over time could be on the cards to boot.

Great timing for KO/ AO re a much better deal today from a year ago.

DM,

Yep another 5p deal that should complete in the coming months.

CASP are going to need at least $14.5m for equipment and production facilities ($4.5m spend within 18 months). They plan on using pre-payments from the manganese/ gold produced from Borly and Zhambas licenses - so upfront payment funding as they did with advanced oil payments from oil traders, hopefully they keep the 100% WI and no further share dilution.

With shallow/ deep oil production knocking on 2k bopd in the near term from WS/ B8/ YD and production from Airshagyl's A6 Deep Well's sidetrack by June?, should help in funding the mining costs and further spuds etc..

Hopefully no silly BNG sale to ME funders to fund the mining/ BNG etc. - the $72.5m offer for a 50% stake was a joke, a serious offer next time around may get some traction.

There's a lot to pick over todays mining acquisition like the promising 20 * $120k pm potential monthly revenue.

Did anyone notice the $20m payment clause in case of a takeover within 5 years?

I wonder how long it will take the KAZ gov to sign off on the ownership transfer, 6+ months for shares to be added to the pot?

The current price of gold will have upped the ante no doubt hence the $4m pt price tag.

There's a fair bit of can kicking to do yet and never happy with dilution to boot.

Potentially 63% of the company's shares owned by the CP.....not far off the 75% f...you threshold.

''RNS: 13 June 2024

Reserve assessment

SciRes, an independent Kazakh consultancy retained by the Group, has provided its assessment of the reserves attributable solely to the immediate drainage vicinity for wells A5, A6 & A7 at the Airshagyl structure as follows:

· C1 - 6.809 million tonnes - approximately 49.0 million barrels

· C2 - 4.009 million tonnes - approximately 28.9 million barrels''

CASP sold their P1/ P2 shallow oil barrels at an average $2.37  pb ($88m) like for like for the BNG deeps C1/ C2 77.9m of C1/ C2 reserves would be valued at $184.62m circ. 7.4p per share, must get a better pb price for the deep oil.

The 77.9m barrels is for oil in the immediate drainage vicinity around the A5-6-7 deep wells on Airshagyl - which should increase when the new step out wells are drilled/ production.

Then throw in Block 8 with similar BNG reserve numbers from it's two structures (Block 8 OIP estimated at between 100m-400m barrels) 70m barrels of 1C/2C?

Then throw in Yelemes Deep (70m barrels of C1/ C2?).

West  Shalva (80m barrels OIP: RF 25% = RF 20m barrels?)

I make CASP's value circ. $568m (18p-ish) once the above reserves are booked re B8/ YD/ WS  later this year...........more with reserve upgrades to boot and a better price per barrel of C1/ C2 reserves than the shallows got.

Then factor in:

CE - $50m+

Mineral mine

Drilling company 

Trading company

Plant and equipment etc..

Several new 25 year licenses 

Expenditure costs to factor in and a T/O premium.

Circ. 26p would see KO/ Carver get their $3m bonuses.

DM,

It looks like the G70 rig is being hired out as it's about to drill the 804 Deep Well and there's been no RNS to say it's been purchased since wanting to over the past several years, perhaps they've got the spare parts now included in a hire contract, which may work our better for them instead of buying the rig outright atm (e.g. it could cost millions to replace a broken drill head) as they did with the A8 Deep Well/ shallow well.

Total well costs obviously depend on depths, drilling timeframes, additional work like sidetracks being needed etc.. BNG deep wells have had previous costings between $5m-$10m/ sidetracks and shallow wells cost between $2m-$5m circ. $1m acid job. imo.

CTS come under the Group umbrella, but I would think any costs/ payments/ loans incurred would be taxed/ paid out independently and any dosh received would be paid directly into CTS's bank account to cover taxes/ admin/ wages/ purchases etc. - such as the G70 rig.

They don't have a Scooby Doo about the CE's earning potential.

The CE made a gross profit of circ. $14m and a net profit of circ. $3m+ which was dented simply because of having to spend $6m on upgrading the ship (plus island building etc.), which will pretty much no longer be needed for future drills, therefore we can expect a more sizeable net profit to come on other charters that will lie ahead. As I've said before CASP could sign a contract any time though lifting it's anchor could be delayed with Iranian/ Russian assets being hit in the Caspian Sea - no further mention of CASP's expected 2-3 charters by 2025 YE speaks volumes re risk/ insurance costs etc..

With the 803 pump due to be fitted (500+ bopd) and the P1 Deep Well should soon complete the 6m perforating work (500+ bopd along with 300+ bopd from the WS shallow well could see production in April 1-2K bopd in April. imo.

Circ. a combined 21m (10m-6m-5m) thus far to produce from.