Member Info for somm

CC,

I follow the facts, I don't miss lead people with made up stuff, maybe you've had one line too many?

There is no mention of the well being sidetracked at 3,900m to 4,100m.

Please read the RNS for enlightenment.

At the time of the last 802 Deep Well update 30 January they were drilling the remaining 100m to 4,100m, this will have already been done unless they're continuing to drill to the initial 4,300m target TD before deciding to drill to the original 5,200m TD.

After drilling the remaining 100m they will then case the well from 2,416 to 4,100-300m and then perforate the net-pay interval(s) that's between 3,900m-4,100-300m.

After casing the well hopefully by early next week they will then go onto perforate the well and flow it for a few days or more before we see a RNS w/c 20 February with an update, hopefully no rocks block the perforated holes like they did at the 801 Dep Well.

The well is flowing 700-900 bpod at 3,900m from an open hole, where does it say they've done a sidetrack at 3,900m to 4,100m and why would they? They haven't and are about to case they well then frack it. imo.

CC,

The 802 Deep Well has not been sidetracked form 3,900m.

It is being sidetracked from 2,319m to 4,100m with 100m still to drill.

''The well had an original planned Total Depth of 5,200 meters targeting oil in the easier to drill Sandstone rather than Carboniferous rock, with an initial target at 4,300 meters below a salt layer between depths of 3,580 and 3,860 meters.



Oil was encountered sooner than expected at a depth of approximately 3,900 meters and before the well had been completed, leading to a decision to drill a new side-track from a depth of 2,416 meters to approximately 4,100 meters, targeting the oil at the higher level previously encountered.

Current position

Approximately 100 meters remains to be drilled to complete the side-track. Nevertheless, after encountering strong gas flows the well has flowed over a period of 3 days at rates fluctuating between 700 and 900 bopd measured on an open hole basis.''

There's around 300m shares not included in the top 20 holders so either out of date or don't include ii/HL for whatever reason.

CC,

I did m8, started rebuying three years ago and have more share in CASP than you can shake a stick at so very happy indeed.

You should move your CASP selling pot into the buy pot before it's too late m8 so you don't get caught out on a spike.

Stay cool buddy.

CC - et al,

Do you understand what free cash flow means?

Because they have £10,000,000 in the bank, for example, it doesn't mean they will pay out 35%-40% of that.

The the free cash flow is what is available AFTER all costs so the free cash flow for example could be nil or £1m-2m-3m etc.

Anyone thinking they will payout 100% of the 35%-40% in the bank is living in Coocoo land, a heck of a lot of costs have to be taken out first to cover Opex/ Capex and keeping the lights on for 12 months ahead.

MB,

CASP have stated there will be a minimum dividend payment of £1m per month if available (It won't be if the price of oil crashes for example), but 35-40% of spare cash above this sum will be AFTER exploration costs have been accounted for so it's not guaranteed - they can say we need £X for X work - they could have £10m in the bank and say they need £9m and stick to the £1m dividend etc..

Anyway all going well with production increases and we should see the dividend increase over time.

Nope, the £1m dividend pot will remain the same even with test production from the 802 Deep Well.

They need all the spare dosh over £1m ATM to mobilize/ drill the 155 Horizontal Shallow Well, to potentially drill the 802 Deep Well to 5,200m and mobilize/ drill the A7 deep Well with the new G70 rig (A7 & 155 Wells will likely spud this month/ early March).

Plus keeping the lights on/ other..........

There's a few hurdles to jump before we'll see a hike in the dividend payment - next dividend payment update should be out this week.

Get these 1-5 deep wells flowing and all the shallow wells flowing again with the CE hired our 2023/2024 and the dividend should have tripled by YE/ Q1 2024. imo.

They've gotten to TD on the A8 Deep Well with no problems and the initial 4,300m 802 Deep Well TD is looking good - if there's no rocks blocking the drill pipe holes after perforating the interval(s) next week then we're off - anther A5 Deep Well re 3,000 bopd?

Just thinking re the CE has been hired for two months in the summer of 2024 and we’re hoping the CE will also be hired out this year too.

Which means if the pending tender for 2023 doesn’t transpire then ‘whoever’ will have to wait until 2025 to hire the ship out which is quite away a way, with the danger being to a potential hirer also seeing 2025 tendered out to another company, especially if 2024 sees the CE drill a discovery well - meaning if the contract is for one or more exploration/ appraisal wells based on a discovery it will no doubt see the CE hired out in 2025 too, great for us and CASP’s coffers - would the current interested company want to risk losing the tender for this year knowing they may not get another chance to hire the CE for a few more years?

Surely we will see the CE tender come to fruition this year as the next available tender date could be 2025-26.

£7 £million a year for the next few years would be nice - possible £14 million with a discovery re two drills per year?

The CE 2024 tender contract is to be formally signed this month.

CE's another slice to the TO pie.

How many AIM companies own a $300m drill ship (to build), all its rigs-equipment, no debt, paying a dividend, massive drill program, 4 blocks and producing 3k+ bopd blah blah blah.

NONE!

All yours for 7p. ;- )

A large chunk of Russian oil production will become unviable taking a million? barrels off the market before year end with new sanction kicking in 5 February - India/ China etc. can only take so much.

No doubt $100+ pboo this year again.........

I’d guess they’ve now managed to stabilize the 802 Deep Well since Monday's RNS and are currently drilling down to the initial 4,300m TD where oil has been found between 3,900m-4,100m (hopefully they will continue drilling down to the original 5,200m TD to test the 4 deeper intervals that were discovered in the 801 Deep Well and oil flows there too as it did with 801 Deep Well - got to do surely), which should take about 10 days to drill and say 4 days for casing and fracking the well, and then 3? days to initially flow test it.

I’m going say the next 802 Deep Well update will be w/c 20 February at the earliest as they're drilling to 4,300m not 4,100m. I'm also going guess it's a gusher at over 3,000 bopd - another A5 Deep Well.

In the meantime the 155 Horizontal Shallow Well should have been spudded, new dividend update, possibly CE 2023 hire and wells 141/2/3/5 news (142 back online), and the G70 rig purchase completed with it also being mobilized to the A7 site.

Busy month ahead.

The last CPR estimated there to be 900 million boo which is now a conservative number imo, but let’s use this number as a benchmark.

A conservative guestimate:

900m boo * initial RF 15% = 135m Recoverable boo * $20 net profit oil pboo (higher when sanctions are lifted re exporting the oil) = $2.7 billion * £0.80 = £ 2.16 Billion / 2.25 billion shares in issue = 96p per share.

The RF % will increase with appraisal wells and production over time and then factor in the price of oil to boot.

This leaves a heck of a lot of upside to a buyer and a couple of bidders China/ US companies could see the offer price double. Imo.

I personally don’t see any offers coming in until some of the deeper intervals are flowing properly and a new CPR has been done showing an increase in the P1/P2/P2/2C numbers.

The FDP will probably kick off towards the end of net year with an initial 6-10? appraisal wells.

With 10/20K storage tanks, pumps, wells and export pipeline etc. CASP will need hundreds of millions of dollars for the initial phase of the FDP which will take years to complete.

Will they go to the market for funding and go it alone?

Will they merge with a Major(s) for a WI %?

The WCP have a billion+ shares between them and won’t be able to dump them onto the market so they will have look for a sale of the Company to get out for £1-2 billion.

An early offer could come in, but after 15+ years they’ll be wanting top dollar so will firm up the deep to some extent first, unless they get an offer they can’t refuse?

The data room will be open to those willing to pay a fee no doubt - the early bird catches the worm ;- )

Didn't finish, the post was meant for Bullinachinashop who was asking and others.....

They have yet to finish drilling to the initial 4,300m TD (changed from 4,200m - so is the interval(s) thicker/ deeper?) and then case and frack the well.

Will they carry on drilling to the original 5,200m? delaying the re-drilling of the A5 Deep Well by a month or two? Remember they were undecided whether or not to carry on drilling the A5 Deep Well to 5,200m TD after oil flowed 3,800 bopd at approx, 4,400m.

Hopefully no blockages of the perforated holes in the drill pipe and away we go.

I'd say about 4 day to finish drilling the remaining 100m then they will have to case the well from the last casing point, about 700m, then perforate the intervals(s) of interest between 3,900m and 4,200m (100m-300m) where the initial (100m) oil is flowing so about two weeks for an update on flow rates w/c 13 February. imo.

''801 Deep Well
The well is located approximately 8 km from Deep Well A5 and will be targeting the Lower Carboniferous in same structure as Deep Well A5.''

The 802 Deep Well is a stones throw from the 801 Deep Well which would seem to be connected to the A5 Deep Wells structure - that's 8 km2 between the 2-3 wells which have multiple DEEP intervals ranging from 2m to 59m thick stacked on top of one another - that's 8 km2 times by 6 layers of oil or the equivalent of 48 km2 - what if the two 36-58 km2 structures have commercial oil * by 6 layers?

The mind bogggles............

Could the 802 Deep Well be connected to Tengiz, which is about 40 km away?

''The BNG Contract Area is located in the west of Kazakhstan 40 kilometers southeast of Tengiz on the edge of the Mangistau Oblast, covering an area of 1561 km2 of which 1376 km2 has 3D seismic coverage acquired in 2009 and 2010.''

''Deep structures
We have identified two deep structures at the BNG Contract Area. The first is the Airshagyl structure, which extends to 58 km2. The second is the Yelemes Deep structure which extends over an area of 36 km2. ''

''We continue to believe that the geological conditions at the super giant fields of Kashagan and Tengiz extend to the BNG Contract Area. If this is the case the potential volume of oil in these deep structures is vast and the implications on the Company’s fortunes of one or more commercial deep wells would be transformational.''

Are we connected?

https://www.youtube.com/watch?v=GG778ivcQAE

It's looking Top of the Pops ;- )

...All the the deep and shallow wells will be flowing and the dividend will be two/ three times higher and the CE will have been hired out for 2023-4-5 and the share price will be in the double digits blah blah blah, and all the current analyses will be water under the bridge or should that be oil?

Next year CASP will put together a FDP, but will they get to see the drill bit turn on their first appraisal well before the Fat Lady sings?

I sold CASP at 12.75p and they had nothing compared to what they have today.

A double digit share price is coming home!

I'd say about 4 day to finish drilling the remaining 100m then they will have to case the well from the last casing point, about 700m, then perforate the intervals(s) of interest in in the last 2-300m where the oil is flowing from so about two weeks for an update on flow rates. imo.

Operational Updates are due confirming:

The G70 rig purchase has completed and the rig is being mobilized to the A7 Deep Well site.

The Company has completed setting up an in-house broker to sell oil.

The CE has been hired for 2023.

The 802 Deep Well rig has been mobilized to the A5 Deep Well site.

The 3AB permit has been accepted.

The 155 Horizontal Shallow Well has spud.

The 141-2-5 wells have been brought back on line.

The Block 8 license has been signed off.

The CE 2024 tender has been signed off.

802 Deep Well TD update re oil flow rate/ interval(s) thickness.

March dividend payment announced.

With the above and several spuds to look forward to it’s going to be a busy couple of months.