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Just to add the 803 Deep Well will supersede the A7 Deep Well (if they are skipping the re-drilling of this well for now) fulfilling their deep well commitments and most likely because it's not only easier to drill through sandstone rock, but the 802 Deep Well actually flows - a stones throw away.

They can now push the A7 Deep Well back if they want to and use the G70 rig to drill the 803 Deep Well - if a hire rig isn't included in the £5.3m turnkey costs.

Yep could surely be?

With having 'potentially' at least 5 intervals it takes time to case and frack each interval from the bottom up. It had already taken BH 3 days to get the 802 Deep Well under control and probably another week to boot?

If it was taking BH a week or more to get a 5m? interval under control (700-900 bopd) how long would it take them to get another 4 intervals under control, especially the 18m, 36m and 59m net-pay intervals - if indeed they drilled to 5,200m TD and perforated them - do they flow too?

They have had nearly 4 months to drill/perforate/ flow test these intervals and we'll know very soon if they have, but why drill another deep well (803 Deep Well) the 7th deep well when they could have completed the A7 Deep Well instead, completing their deep well commitments?

Obviously they think (know) the 802/803 Deep Wells are connected, the question on my mind is are all 5 intervals connected? or did they stop at 4,300m TD and go straight to drilling the 803 Deep Well knowing they could drill the deeper intervals in the 803 Deep Well instead and play it safe by just perforating/ flowing this shallower sidetracked deep interval that's guaranteeing them at least 700 bopd, proving up more oil from another reservoir in the deeps.

This has got me more excited than a fist full of V - let's hope it's not a damp squib.

In a perfect world it will take CASP at least 6 months to drill the 803 Deep Well (ignore Carver’s 4 month time frame – never happens) and the £5.3m BICO tender will be paid in installments as the well reaches certain mile stones – not upfront in one go as some would seem to believe.

If the 802 Deep Well is producing say 1k bopd at say $20 net profit pboo this would generate nearly £3m net profit over 6 months (what if the deeper intervals are flowing too?), throw in the net profit from the shallows (may be back to 4k bopd) over the next 6 months and there’s plenty of dosh to cover the 803 Deep Well, A7 and dividends, and if the A5 Deep Well flows 1-4k bopd (3-4 month sidetrack) then bob’s your uncle.

That’s where the dosh will be coming from for the 803 Deep Well when drilling/ completed. Imo.

The G50 rig was/is supposed to be drilling the A5 Deep Well once it’s completed drilling the 802 Deep Well and the new G70 rig was/is supposed to be completing the A7 Deep Well after it’s purchase in January.

So have they hired a drilling rig to drill the 803 Deep Well inclusive of the £5.3m turnkey costs so as to keep to their drilling program on track re A5/A7 Deep Wells? We’ll know if this is the case next week?

Three and a half months ago Carver said they would perforate the well once it had completed, not the 700-900bopd flowing ‘interval’, which to me means they intended to complete the well to the original 5,200m TD hoping to perforate the possible four net-pay intervals deeper down as found in the 801 Deep Well. We’ll know if this is the case next week?

Re the 142 Shallow Well it sound like they’ve drilled into the OWC and have had to drill a sidetrack deeper down – how thick is the interval?

CE could be in talks still for rental this year.

The dividend will remain the same for sometime imo unless the 802 Deep Well is flowing X,000’s bopd as they’re having to pay out more with the 803 Deep Well hire team/rig and the fact they’re saying the $15m CE tender proceeds will go towards their work program – this $15m won’t be paid out until the CE is drilling though there may be a little paid upfront prior.

It’s strange we’ve not heard about the 155 Shallow Well not spud yet, may be it has or are they still using the rigs to sort the water influx in the two shallow wells, hence the delay in confirming it’s spud?

Big Op’s Update due that will hopefully answer our many questions.

Carver said they would complete the 802 Deep Well before perforating it - to me that means drilling it to their original 5,200m TD not 4,100m sidetrack depth or their 4,300m initial target depth where they were imo expecting to start drilling into the first oil interval(s) of interest.

The original TD was 5,200m and they had an initial 'target' at 4,300m.

The first net-pay interval in the 801 Deep Well was between 4,535m-4,541m - that’s only a couple of hundred meters off from their initial 4,300m target depth with the deepest net-pay (36m) interval at 4,812 -4,848m.

Why would they stop drilling after they’d drilled to 4,100m and not carry on drilling further down to where oil flowed in the 801 Deep Well from one/all of the 4 net-pay intervals, which is a stones throw away from the 802 Deep Well? IMO they wouldn’t have and I’ve said this numerous times due to the time it could be taking them to drill to 5,200m TD and obviously the time it's taking for an update corresponds with my assumptions.

Yep they could have suffered a blockage or had to do another sidetrack etc., but I think they've continued drilling further down into the 4 potential net-pay intervals.

IMO.

Uncertain,

Ramping?

Do you mean like one of your recent posts?

''I am convinced this is a multibagger, but it could just be a megabagger.''

Irony at it's best. : -0

Bluemango,

The potential is massive for sure.

Think of a 6m interval stretching 13km sq2

Think of a 18m interval stretching 13km sq2

Think of a 30m interval stretching 13km sq2

Think of a 59m interval stretching 13km sq2

Think of a 5m? interval stretching 7km sq2 (the shallower interval flowing at 700-900bopd)

What would the potential OIP be if these 5 intervals had live moveable oil?

Would anyone like to do the maths and give a total OIP number and divide it by a very conservative 15% RF?

Amend to: fast tracking the spudding of the '803' Deep Well.

Just to add the 801 Deep Well did not find live moveable oil at 3,900m, but they did find oil deeper down as I've stated so perhaps finding this shallower oil interval at 3,900m is why they are fast tracking the spudding of the 802 Deep Well to see where this intervals boundary might stretch to? as well as the deeper intervals to boot - right across the structure.

I personally think they would have already said if they'd had to do another sidetrack or the well was blocked etc. so due to the length of time it's taking for an update I'm thinking they're perforating the deeper intervals to see if they flow too, if they do add in the 700-900 bopd and the well could produce in X,000's of bopd re a 59m deeper interval flowing - geez the thought!

If there's been no problems with the 802 Deep Well, then after three months I would be very surprised if they hadn't drilled to the original 5,200m TD to check if the four deeper intervals are there as with the 801 Deep Well.

''Four potentially oil bearing intervals have been identified during drilling and supported by mud log data. The first of 6 meters between 4,535 and 4,541 meters; the second is of 20 meters between 4,554 and 4,694 meters; the third is of 59 meters meters between 4,635 and 4,694 and the fourth is of 36 meters between 4,812 and 4,848 meters.''

Four net-pay intervals between 6m and 59m thick each that flowed to surface before becoming blocked with fluid and rocks have massive OIP potential (how many intervals flowed to surface?) and if all 4 layers stretch from 801 to 803 (13km) then it's boooomage time, if I were CASP I would not stop drilling at 4,300m regardless!

To complete the 802 Deep Well to the initial 4,300m target would have taken them around two weeks and a week to complete flow test the well at 4,300m if that's where they wanted TD, so what have they been doing for 2+ months since hitting 4,300m?

All problems aside the 802 Deep Well is on track to hit 5,200m TD and I've been leaning to this conclusion for a while now and nothing has changed that.

Have they drilled to 5,200m and found live moveable oil in any of the 4 deeper intervals and that's the reason they are about to spud the 803 Deep Well to see how far these intervals stretch - in place of drilling the A5 Deep Well next?

We'll soon get to know - next week?

Come on!!!!!!!

Wolfi, yes that's correct, but not on initial oil flow testing and this well is flowing a lot of gas apparently.

When the well is in proper production I would say flaring would be limited as Clive states.

If the 802 Deep Well was still testing/ producing you'd think there'd be flaring?

Is this a live satelite photo or an old one?

So approx. 13km across from 801-803 Deep Wells.

A 10m-20m interval spanning that distance would be nice ;- )

Thanks ukred,

What is the total distance from the 801 to the 803 Deep Wells?

An Op's Update is imminent so let's see what they say, hopefully they've bought another rig and the the 803 Deep Well has spud along with the A7 Dep Well.

Ukred,

It no longer costs CASP that much to drill a deep well anymore as they own their own rigs and costs them less than $5m (not £5m) to drill a deep well.

Is the picture on twitter really the 803 Deep Well? looks well advanced?

The G50 rig is being used for the A5 Deep Well when finished at the 802 Deep Well which could still be being used to drill to the 5,200m TD and the new G70 rig is being used to finish the A7 Deep Well (completing their deep well commitment agreement).

So where has this alleged 803 Deep Well rig come from?

Profit is profit mate, but I'm after the big bucks and have nerves of steel ;- )

Paul78,

Regardless of good or bad news re the 802 Deep Well the fact is they have an interval(s) that's flowing light commercial oil from an unexpected depth that X thick and X km long/wide, which in it's self should add many barrels of oil to the P1/P2/2C number (another 50m boo P2 Mean?), this combined with the A5 Deep Well interval(s) thick and stretching X km long/ wide could justify them doing another CPR especially if any of the deeper intervals flow on the 802 Deep Well. They roughly know what they've got from the seismic data they just need to prove with appraisal wells to boot, the exploration wells will give them a good indication of the potential size of the prize.

The fact is the oil has been proven to be there on both structures in commercial quantities and once they've finish drilling the A7 Deep Well ending their deep well drilling commitments they can then fully concentrate on getting the blocked deep wells to flow again. We'll probably see FDP kick in toward the end of next year with a knock on the door from a Major(s) wanting to give us a hand.

The deep wells should all be completed by Q1 next year and for me it's always been about being in until these have been completed - everything that happens along the way is part of the journey. I expect a double digit offer or to see the share price increase increase significantly into mid-double digits over the next 18 months.

This is one of those stocks that isn't a one trick pony with proven oil and has multiple positives with little downside as far as I can see.

Got to be in it to win it.

Paul78,

If they've drilled down to the original 5,200m then they are on track timewise especially if there are 4 intervals to test deeper down as with the 801 Deep Well.

If there's a stuck pipe and they need specialist equipment to get it out then yep that could be a cause too to the delay, and if they've had to sidetrack the 802 Deep Well again this would have only taken a month or so (400m-500m? sidetrack), which is why I'm leaning to them drilling down to the original 5,200m TD - though the last 2 RNS's are a little confusing as CC says they will perforate the well once completed, they don't say perforate the well after the 100m sidetrack has completed, so they could be drilling to 5,200m TD.

All the other wells that were expected to be completed/ spud in Q1 would normally warrant an individual RNS so not sure if they're trying to do one big Op's Update to include the 802 Deep Well results?

Good bad or ugly news isn't far off.

Ar,

Really?

Why would I sell at .004p when there's a chance in the coming year(s) they might get to a penny, along way from my initial 13p-18p buys, you silly boy.

Obviously you haven't got a clue about investing and bottom drawing crap stocks because it's pointless selling them.

Watch and learn boy.

Rubbish.