Member Info for somm

In their latest presentation they said they were getting $42 NET for exported oil and $17 NET for domestic oil sales. I think oil was hovering around $110 at the time.

Export/ domestic oil sales were split up to 50%.

Production was at 3,750 bopd.

Russia has turned off the Nord 1 taps to Europe to do maintenance work on all it's turbines.

CASP investor are weary whether or not CASP's oil flow will stop due the maintenance at the ports etc., Russia has threatened to do maintenance in July and a weeks ago, and there lies your answer re pitiful volume until this threat has gone - though we'll see an increase in volume no doubt if 141/802 flows and dividends announced to boot.

There's only one thing suppressing the share price and it's the pipeline risk, either fast track a new route or let the Russian's do their maintenance for a month (or two) and have done with it (the stoppage threat) and by then we'll have in-house brokers being able to sell our oil for $10 bucks more and at KEBCO oil prices (should have been now?).

I wouldn't be surprised to hear of plans of a new pipeline being built to circumvent Russian ports this year?

Based on those numbers it's going to take them at least 6 months drill the 802 Deep.

They we're averaging 31m per day when they reported the well being at 650m.

Drilling for 90 days averaging 31m is approx. 2,800m without casings, half way there so another 3 months and another month before casing below the salt layer. imo.

4 months to TD (another month) no chance!

No Opinion

P1 ReservesToday 10:04
Just working out the value of CASP's P1 Reserves at full value.

15m barrels @ $25 pb net works out at 12.5p per share.

We will be getting more $ pboo soon with KEBCO rate .
Not valued P2 Reserves in the above calc (26m barrels).
No Reserves for the deeps - yet
Very old CPR - new due next year?

Once you factor the above into the potential share price this is a multi bagger * 20 imo.

Being at 3p is due to the pipeline risk nothing more imo - once out of the way and a new CPR done along with 3AB/CE/ Dividend etc. and pow!

I won't be going anywhere until the above sorted and will continue to add.

Just working out the value of CASP's P1 Reserves at full value.

15m barrels @ $25 pb net q

Don't tell me they've employed a bunch of Scousers? when St. Peter went to God to ask him if some rough looking Scousers could come in he found the Pearly Gates were missing when he got back. '- )

''OPEC+ action:

Speaking of disconnected fundamentals, Saudi Oil Minister Prince Abdulaziz bin Salman thinks similar dynamics may be happening in the crude industry. "Thin liquidity and extreme volatility" in the futures market are moving prices in ways that do not conform to normal supply and demand factors, which may spark OPEC+ to take action. The Saudi-led group could tighten production when it meets next month, doing a U-turn after reversing all of the cuts made during the COVID-19 pandemic.

On the move: Crude oil futures have slumped 27% since mid-June amid concerns about the global economy, surging shipments from Russia and the possibility of more Iranian oil coming back online in the event of a nuclear deal. The WTI benchmark even recently fell under $90 per barrel, but pared losses following the Saudi prince's comments.

"The paper and physical markets have become increasingly more disconnected," Abdulaziz bin Salman declared, adding that forces which "undermine the stability of oil markets will only strengthen our resolve." Efficient price discovery is absent without sufficient liquidity, making it challenging for physical users to handle the costs of hedging or deal with fundamental risk. "Soon we will start working on a new agreement beyond 2022," he continued, without giving further details.

At issue: "This vicious circle is amplified by the flow of unsubstantiated stories about demand destruction, recurring news about the return of large volumes of supply, and ambiguity and uncertainty about the potential impacts of price caps, embargoes, and sanctions. In a way, the market is in a state of schizophrenia, and this is creating a type of a yo-yo market and sending erroneous signals at times when greater visibility and clarity and well-functioning markets are needed more than ever to allow market participants to efficiently hedge and manage the huge risks and uncertainties they face."

Any,

I think the buy/ sells are mostly incorrect especially the Unknowns - I bought a million shares the other day and the trade was reported as Unknown when the buy price was much higher than the mid price?

There's definitely been a problem with the I4I Well imo - probably had a blockage and has had to have a sidetrack done hence no update on flow rates, we'll get to know shortly along with 802 Well casing depth as it nears the salt layer.

Yeah, some of us on here said they wouldn't have the dosh to pay a dividend in July until later on in the year having only $1M in the bank and hey presto - later in the year comment - they must have mentioned July payment 3 or 4 times to boot, they should get someone else to write the RNS's as Carver's hopeless.

If an offer comes in great, but I doubt we'll see one until the deeps are properly flowing/ 3AB license signed etc. but what do I know.

Still a lot due in the coming months so not too fussed with quiet operational gaps, though they should have told us if the 141 was blocked or not.

McQueen,

You said: ''IF this is taken private I would imagine a price of 5p +.

Your another idiot.

You've been complaining about being invested in CASP for 10 years, I guess you don't understand sarcasm when you see it.

Geez!

And your posts (not just on here but all of them) have been nothing but whining, winging and whinnying, not one bit of research have you posted and all you go on about is the NHS and nukes. lol!

Sell the few remaining shares you bought at 8-10p or come back when the share price is back to 8-10p.

See you in another 10+ years Zz Zz Zz Zz ......

801 Deep Well,

So another 100m of intervals to add - when they suss how to get them flowing ;-)

Continued

‘’29 September 2015
Deep Well 801
Deep Well 801 was spudded on 15 December 2014 with a planned Total Depth of 4950 m. The well is located approximately 8 km from Deep Well A5 and was planned to target the same structure as Deep Well A5 in the Middle and Lower Carboniferous. The well was drilled by Sinopec, the Chinese multinational, at a fixed cost of US$11 million.
As previously reported core samples and logging have revealed a potentially oil bearing interval starting from 4536 m and extending 100 m. The pressure and temperatures encountered indicate this well is unlikely to be connected to the reservoir targeted by Deep Well A5. Therefore should Deep Well 801 prove commercially viable it would be a separate discovery to the potential discovery previously announced in connection with Deep Well A5.
The well has been drilled to a total depth of 5050 m and five potential levels for production have been identified below the salt layer. Since the previous update the lowest two of these levels have been perforated (4822 m and 4896 m).
Testing has commenced at the well at the perforated levels with gas detected and oil shows. The well has been closed to allow pressure to increase. We expect to reopen the well in the next few days and are hopeful that at that time oil will flow naturally to the surface.’’

‘’13 January 2016
Deep Well 801
As previously reported Deep Well 801, which was drilled to a depth of 5050 m has suffered from blockages caused by excess drilling fluids. Roxi is pleased to announce that, following a prolonged wash using less dense mud injected under pressure, intended to lessen the density of the drilling fluids and ease their recovery, the well has flowed intermittently over a period of two days.
The well has now been closed to allow the removal of drill-pipes. The well is next expected to be placed on test within the next few weeks. Roxi will provide an update once unimpeded flow rates have been determined following such testing.’’

‘’15 July 2015
Deep Well 801 update
Located approximately 8 km from Deep Well A5, Deep Well 801 was spudded on 15 December 2014 with a planned TD of 4950 m. The well was created to target the same structure as Deep Well A5 in the Middle and Lower Carboniferous. Sinopec, the Chinese multinational, is drilling the well at a cost of US$11 million.
On 30 June 2015, it was announced that casing had been set to a level of 4790 m and drilling had resumed, targeting Lower Permian and Middle and Lower Carboniferous oil-bearing reservoirs. The well has now been successfully drilled to a total depth of 5050 m, into Lower Carboniferous.
Samples and logging have revealed a potentially oil bearing interval starting from 4536 m and extending 100 m. The pressure and temperatures encountered indicate this well is unlikely to be connected to the reservoir targeted by Deep Well A5.
Adapted from press release by David Bizley’’

‘’5 September 2015
Deep Well 801

Deep Well 801 was spudded on 15 December 2014 with a planned Total Depth of 4,950 meters. The well is located approximately 8 kilometers from Deep Well A5 and was planned to target the same structure as Deep Well A5 in the Middle and Lower Carboniferous. The well was drilled by Sinopec, the Chinese multinational, at a fixed cost of $11 million.

As previously reported core samples and logging have revealed a potentially oil bearing interval starting from 4,536 meters and extending 100 meters. The pressure and temperatures encountered indicate this well is unlikely to be connected to the reservoir targeted by Deep Well A5. Therefore should Deep Well 801 prove commercially viable it would be a separate discovery to the potential discovery previously announced in connection with Deep Well A5.

The well has been drilled to a total depth of 5,050 meters and five potential levels for production have been identified below the salt layer. Since the previous update the lowest two of these levels have been perforated from a depth of 4,920 meters.

The heavy-duty rig used to drill 801 has been dis-assembled pending its use on Deep Well 802. A lighter rig is on site and being assembled over Deep Well 801 and will be used to test the perforated intervals and subsequently the other intervals of interest.

Encouragingly, pressure in Deep Well 801 has been increasing steadily over the past few days although not to the high levels encountered at Deep Well A5. Once the pressure stabilizes and the new rig is operational testing will commence.

Deep Well 802

As referred to above the heavy-rig used on Deep Well 801 has been disassembled for use on a new Deep Well 802, located some 8 kilometers from Deep Well 801. Deep Well 802 is to be drilled to a depth of 5,000 meters targeting the Lower Carboniferous’’

‘’29 September 2015
Deep Well 801
Deep Well 801 was spudded on 15 December 2014 with a planned Total Depth of 4950 m. The well is located approximately 8 km from Deep Well A5 and was planned to target

‘’Deep Well 802 was spudded in June 2022, with a planned Total Depth of 5,300 meters. At the date of this report drilling had reached 650 meters without incident. This will be the final deep well required under the BNG work programme.

Deep well drilling issues

Sub-surface conditions at the two discovered deep structures at BNG present significant technical challenges in drilling and completing the wells. These are the extremely high temperature and extreme pressure that exist below the salt layer. At the Airshagyl structure the salt layer is typically found at depths between 3,700 and 4,000 meters where at the Yelemes Deep structure the salt layer is typically found at depths between 3,000 and 3,500 meters.’’

If the drill is averaging 31m per day (without casing(s) factored in) after two and a half months of drilling we could be hovering around 2,300m today, another 3 weeks to hit the 3,000m salt layer or around 6 weeks to hit the salt layer at 3,500m – how thick did they say the salt layer was – 500m? Then onto 5,300m TD with TD end of November? With the Yelemes salt layer being at a shallower level perhaps the pressure/ heat will be somewhat less than the Airshagyl salt levels thereafter hence giving the 802 Deep Well a better chance of success? I wonder if they can quicken the drill speed and reduce the mud density so the mud doesn’t set as they near the deeper target interval(s) through the softer limestone rock they'll be drilling though? Then onto the A5-7 Deep Wells with a better understanding of what mud density etc. might work – they got the A8 Deep Well flowing abate with none commercial flow rates so perhaps they can a apply the same techniques.

The 141 Shallow Well seems to have had a problem (with Clive saying it was nearing production a couple of months ago) given the time it’s taking for an update, so September for 141 drilling news together with 802 Deep Well update re well casing below the salt layer at 3,000m-ish?

In the meantime potential dividend price announced/ 3A Best license granted/ KEBCO sales update?

Y/E should see 3p as distant memory...........

KK,

If you think the risk has gone to the pipeline being shut-in (because of recent Chinese comments) then that's just complete nonsense, the risk is still very much there and is exactly why the share price is on it's arze (but you don't get why?). If the risk has completely gone then why are we at 3p?

Production has nearly trebled/ no debt/ dividend about to be announced/ 2-3 wells currently drilling blah blah and you don't think the share price is at 3p, because of the pipeline risk: Then why is it at 3p after dropping 40% from the Russian court order and still dropping, especially with several operational announcements due.

BTW. It will take years to complete a new pipeline to China.

So glad that's just in 'your' opinion Jack, to think the heat/ pressure/ deeps not flowing will all come good now the debt for equity has been concluded and holdings maximized, geez what ever next!

To get into the 20's we'll need a deep flowing first and the risk of our oil not being shut-in removed with either a new route to the export market or the easier option of Putin gone/ sanctions lifted, a new export route and any of our 2 deep structures flowing continuously will do it.

I said last year 2023 will be the year for CASP - re share price increasing with deeps flowing. If oil is constrained at 5k bopd then they'll have to concentrate on the deeps firming up P/C Reserves/ OIP - new CPR........then offers?

Get the A5-A7/802 flowing and we'll be on our way to 20p+ - as we know a massive challenge.

Dividend/ shallows 10p+ is to be expected under normal circumstances , but the market is all about the pipeline risk and nothing else - which is why we're at 3p.

Sorry 4 months would work out at $11,100,000 ($1m + June - September revenue worse case).

But 0.0016p dividend in October is still doable. imo.

CASP stated they were getting $42 pboo net for exported oil and $17 pboo net for domestic oil sales from Urals oil priced oil sales, oil has since dropped about 15% so I reckon they're currently getting around $35/$15 pboo net though if they have starter inhouse broker sales then this could be offset by $10 pboo.

If they are selling oil at KEBCO prices today then they should get paid top dollar around mid-October.

Production is currently 3,700 bopd split between 30% or 50% for export/ domestic oil sales.

So currently the worse case is 50/50 split giving $64,750 per day for exports and $27,750 per day for domestic sales = $92,500 per day or $2,775,000 per month or $5,550,000 for the next two months before KEBCO prices kick in,

They had $1m in the bank end of June add in four months of oil sales (June to September) and worse case they will have had net profit of around $22,200,000.

Soooooo if they pay a dividend in October say they should have enough to pay a decent dividend - more if they sell their oil at a 70/30 split.

Example $5M would pay out 0.0016p per share.... December 0.002?

Just doodling '-)