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CASP have had 4-5 months to get the shallows flowing to 4k bopd again, then throw in the 155 Shallow Horizontal Well and 5k bopd is on the cards possibly taking the share price to 10p+ again, now add a flowing deep well (802) that’s producing a couple of thousands bopd and a ‘new’ deep discovery (20p+ on the back of A5) and we’ll see the share price hitting around the 20p mark again imo, especially with a higher dividend payment this year. All going well of course with the shallow/deep wells current workings.

Could be a really positive RNS this week that lights the touch paper, I really hope so.

They wouldn't use a jack pump (nodding donkey) on a high flowing deep well, but it might be needed for one of the low producing shallow wells.

There's a lot of pressure down the deep wells so wouldn't be needed there as oil flows to surface, if the oil didn't flow to surface then they would need a submersible pump which can cost $1 million.

How thick is this 802 Deep Well interval(s) is what I'd like to know, hopefully they'll give us a detailed RNS to boot.

ECHO will have to raise cash again for any (Columbia) venture, which will increase the shares in issue further into the billions, so I expect a share consolidation of 100/1 so they look prettier and have say 1 billion shares in issue after dilution.

Just saying as this is very likely to happen this year.

There's good chance once we hit 20p and the share price remains steady between 20-30p CASP would be able to apply for a Main Market listing where more institutions that won't invest in AIM stocks will be able to invest in CASP.

Another piece of the CASP pie for next year.

I'm guessing next Wednesday gives CC Tuesday to get over his weekend hangover. ;-)

5 months ago Carver said they will know by the end of Q1 if the shallow wells water cut will have been successfully sorted - news 2 months over due same for 155 Shallow Horizontal Well spud and the 8 Block agreement signed.

That's 5 months in all to sort these.

4 Months to sort the 802 Deep Well and spud the A7/A5 Deep Wells and the 803 Deep Well to boot.

Expecting?

I'm expecting a baby Tengiz soon with all this overdue news, could someone please give CC an epidural.

Here for the big bucks

CC,

What we should be asking is does the £5.3m ($6.5m) turnkey cost include the operators rig or CASP’s G50/G70 rig and if it does include the G50/G70 rig then why use another Company’s drilling crew when the G70 rig and CASP’s crew were supposed to be drilling the A7 Deep Well next?

This leads me to think the £5.3m will include the other Operator’s rig and the A7 Deep Well will continue to be drilled with the G70 rig as originally planned and the 802 Deep Well rig will either move onto drill the A5 Deep Well as planned or the 803 Deep Well if the other Operator doesn’t include a rig in their Turnkey cost, if that’s the case why another Company’s drill crew to operate the G50 rig when the CASP crew know how to operates it already.

Having said all that the new G70 rig is likely to drill the 803 Deep Well (drilling the A7 Deep Well later) as the ‘new’ crew may be already used to operating it if they were the sellers of the G70 rig – CASP’s crew would need training, leaving the G50 rig as a work over for now on the 802 Deep Well?

More permutations to kick about until confirmation.

Hope that wasn't too deep :- o

Yep, and that's why I say the end of next year re possible offers as the current deeps should have been re-drilled/ drilled and complete by the end of Q1 2023 giving them 9 months to drill a couple of appraisal wells.

Between now and then (Q1 end) they should have enough dosh to buy another couple of rigs for the appraisal FDP if we get to the FDP stage?

Nothing wrong in looking forward hey '-)

CC That's right but it will take years to prove up the P1/ P2 numbers etc.. and I'm hoping a Major(s) will save us the journey by putting in an offer by the end of next year.

Shevek, I'm working on $20 pbbo net profit and if they get more in T/O negotiations then great. Yeah I know they've said $35 net.

.........throw in the in the shallows, CE and other blocks and 40p in the short term is feasible imo, then add a X% for T/O to boot.

This time next year Rodder's.

Hopefully the next Op's RNS will tell us how thick this 802 Deep Well shallow interval(s) is so we can get a better idea of the size of the reservoir.

If the 803 Deep Well (if also flowing/ has moveable oi) it will give them an idea of the OIP/ RF and OIP number.

The 'full' value for 100m P1 at $20 net profit would work out about 70p per share.

It would take many appraisal wells and production to firm the P1/P2 numbers etc.

Also if they did stop drilling at 4,100-300m around mid February and perforated/ tested the well they could by now have done a 90 day flow test = NY deep discovery and deep export license submitted?

FY Results due on or before next Wednesday.

Lots of possible logical permutations to consider - another one that's not been mentioned yet is whether or not they found any more intervals in the last 100m they were drilling, was there? hmm.

Sarcastic? you seemed pretty convinced to me.

''A7 spud ? it had reached 2167m before pausing, from last Nov RNS as detailed below. Bought the rig in Feb and would be well through it ?;;

Hmm, admin it you were very serious. lol.

And your point of this RNS is - which I have posted more than once btw?

SmartyP1,

You are wrong mate.

It took the 4 months to drill to 2,150m with over 3,000m still to drill.

If they started to re-drill the A7 Deep Well it would take them another 5 months.

Pray tell how have they completed the will in double quick time, they would have to transport and set up the G70 rig, which would take them into March at the earliest.

WHI - ‘’the company intends to start drilling Deep Well 802 (an appraisal well) into the Yelemes Deep structure (WHIe: 15.6 million barrels of recoverable oil under a success case) in early 2022 with results expected later in the year.’’

So how much has their RF estimate gone up to from 15.6m boo now they've discovered a shallower deep reservoir?

‘’Airshagyl: Based on our volumetric assessment, we estimate that the company’s deep Airshagyl field would recover 305 million barrels of oil under a success-case.’’

So how much is the combined 320.6 million barrels of Recoverable oil worth, just for fun?

320m boo * $20 net profit? = $6.41 billion / £,80 = £5.13 billion / 2.25 billion shares = £2.80 per share.

May be we will get £1 per share when offers come in – will need years to prove up but?

If you read WHI's below view they think the well will be drilled to the initial target depth of 4,300m not the 'original' 5,300m TD, which leads me to think they might have forsaken drilling the deeper intervals in the 802 Deep Well to drill later i.e. drilling the potential 4 deeper intervals when they drill the 803 Deep Well - not risking the 700+ bopd discovery.

''Market Cap £116.1m Share Price 5.16p (last close)

Caspian Sunrise announced that Deep Well 802 drilling the Deep Yelemes structure has struck oil unexpectedly (at 3,900m) above the targeted formation (expected at 4,300m). The well is now being sidetracked to a depth of 4,100m with a further 100m to be drilled to reach that depth. Caspian Sunrise has further announced that the well has flowed for three days at rates fluctuating from 700-900 b/d on an open hole basis.

The company indicated that once the well is completed (cased and perforated), they believe there is potential for the well to flow at a higher rate.

WHI View: Deep Well 802 has not yet been cased and it is drilling in a deep and over-pressured environment (beneath the Kungurian salt). We believe that the immediate priority of the company will be to drill the well to its targeted depth and then case the well, which involves cementing steel production tubing into the well. Thereafter, we would expect the company to test the well and to evaluate the unexpected oil discovery.''

Hence they've started drilling the 803 Deep Wells shallower reservoir to help prove up the reservoirs size and possibly drill the deeper intervals to boot.

It's looking more likely they have stopped drilling at the 4,300m initial target depth and moved on to the 803 Deep Well. imo.

Smarty P1,

''Already finished drilling the A7 Deep Well'' - not a chance and have explained why in previous posts though may have spud. Sorry, but I found your comment really funny.

I've also explained the costs of the 803 Deep Well being paid in installments as drilling mile stones are met over several months - not upfront in one go as you allude to, and also have laid out where the funding could be coming from re to cover the 803 Deep Wells costs over the drilling period.

I take it no one has picked up on two very important points one of which is possibly drilling the deeper 803 Deep Wells deeper intervals later i.e. not risking the 700+ bopd flow with blockages coming from deeper down?

Finger in the air comments with no meat on the bone to back up what you're saying is just ....well empty blah blah blah.

As I have said we'll soon know if the 802 Deep Well is a gusher or not.