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IF...the drill bit was at the initial 3,000m TD when we were last updated re the well being extended to 3,400m then it could be there now testing the Truassic intervals.

I would assume they were at 3,000m then as why woukd they want to extend the well deoth if they were only at 2,250m?

14 days at circ. 28m pd would put us at that depth.

Just doodling.

Gritster aka Credock on the ADVFN board.

I call him Flora because he likes to spread himself about 😉

Oops, yeah DM.

Mr. Cun tious, Grimster and getmeoff are the boards most badly reserched posters who by the way have never posted any research ever, why? it's simple they're clueless trolls with no real understanding of CASP's assets or how bussinesses work.

BM,

Thanks for showing these idiots what research is.

CE was chartered for $14m gross profit

Net profit $3m

Upgraded for $6m paid from the $14m gross profit

Previous charter $1m

Offered $25m for a 50% WI

Two more charters are on the cards, will that be another $28m?

Expensive? Remind us what did CASP pay for the CE?

CASP now own the Block 8 contract area and the Sholkara structure can now be further worked on/ tested, the P1 and P2 Deep Wells have both flowed for many years with recent workovers/ sidetracks increasing production several fold from just one well, therefore imo CASP could book new oil reserves this year from the Sholkara structure (they have booked reserves on Airshagyl with only one well flowing for a short period of time (A5), so with two wells flowing on the Sholkara structure why not book reserves too with many years of data from these two flowing wells?). The Akadukk structure also has two deep wells ready to flow test once the license is approve so more OIP/ reserves booked year end? more wells could be drilled this year increasing production, rig availability allowing?

Initial reserves for the block are estimated to be between 100m-400m, with the third structure being a dud I'd guess those numbers may have been reduce, even so I wouldn't be surprised to see 'initial reserves' booked similar to those of Airshagyl/ Yelemes Deep this year.

West Shalva is flowing live oil and we'll have a better idea month end if both the Jurassic and Triassic can flow commercially, IF so, no doubt another well(s) will be drilled this year to increase production and firm up the estimated 80m barrels, could reserves be booked year end/ early next year too?

I'm not sure if reserves can be booked on Yelemes Deep this year after the 803 Deep Well has been flow tested/ completed (we know both the 802/ 803 Deep Wells flow commercially) as the latest RNS inferred they could be booked while the three new deep wells were still to be drilled within the next 2 years, with a further reserves upgrade possible thereafter. The same goes for Airshagyl re a reserves upgrade after the two new deep wells have completed within the next three years, or earlier?. Two and three years from now respectively both structures should have 25 year licenses. Five new deep wells within 2-3 years is a big ask with the current work program so either deep/ shallow production/ funding are going to have to happen to fund these additional wells.

There are currently 15 wells being worked on/ planned - each one is transformative in their own right which should add to production/ reserves. This year should see the deep/ shallow wells flowing as most of the wells have live moveable oil and CASP are now well funded. imo.

A couple of Charters are on the cards this year, confirmation before the end of Q1?

It's also possible we could see mining activity/ some revenue this year from Tau-Cen with the elephant in the room being funding from a BNG WI sale.

Can anyone tell me of another AIM Company with this many near term irons in the fire at a rocket bottom share price?

Just doodling................

IF the share price remains the same by the 6th of April we'll be able b&b circ. 870,000 shares into out tax free ISA's.....again :- )

Just saying.

YD - Amend to three new deep wells drilled within 2 years not two wells. :- )

Clive's going to have to put the pork pies down and crack the whip................

......any day.

All in all regarding the rigs they're going to have to get the G70 rig bought/ hired or bring in new rigs to cope with the new 5 deep wells and the current 10 wells that are going to need drilling sooner or later.

They say they are in talks with several potential funders, I'm hoping it's Major who have available rigs and not a ME financial investor, I won't be happy if they sell a 50% WI stake of the BNG licenses at a fire sale price as they did with the shallows.

I read a comment stating Carver had said drilling/ flowing the current wells wouldn't get a higher sales price for the BNG contract area, if so, what a ridiculous thing to say.

Anyway another year and another laughing line or is that a crying line? 

''Yelemes Deep

A two-year appraisal license has been issued during which additions to state confirmed reserves on the basis of further drilling is permitted.

 A requirement during the initial two year period to be eligible for the award of a full 25-year production license is that three further deep wells each with an expected maximum depth of 5,000 meters are drilled.''

Drilling 2 new wells to 5,000m over a 2 year period is going to be a struggle imo as these wells can each take up to 6-12 months to drill, they need to start drilling a new YD well now. It looks like we won't see Reserves booked on YD for at least another 2+ years to boot?

''Airshagyl

A three-year appraisal license has been issued during which the Group must submit credible plans to develop the Airshagyl structure and during which additions to state confirmed reserves on the basis of additional drilling is permitted. 

A requirement under the 25-year full production license expected to be issued during the initial three-year period is for a minimum of two further deep wells on the Airshagyl structure to be drilled after the full production license is issued.''

Next year they are going to have to have started drilling the first of two wells on Airshagyl if they want to complete the well in time, at what depth - a 4,500m? TD could give them some leeway time wise? They say they can drill four deep wells simultaneously, which will take up all their rigs (can the G20 rig drill to 4,500m/ 5000m?) - the G70 rig remains out of contract. The above means they will have to leave further drilling on WS/ B8 until the YD/ Airshagyl well commitments have completed if push comes to shove, they have to drill these five extra wells or say goodbye to the 25 year BNG licenses.

They could drill a sidetrack on both the A5/ A6 Deep Wells within 12 months and complete the A7 Deep Well within another 6 months, so a year and a half using one rig, but that only gives them 6 months to drill 2 new deep wells? I think they will only be able to sidetrack one well and kick the other two wells down the road. IF they ex-owners of B8 have rigs they could be paid to drill/ test other wells freeing up CASP's rigs? Will they have time to drill another well on WS with limited rig availability. After the 803 Deep Well has completed testing the 60m oil column will they continue drilling to 4,500m below the salt layer or stop at the current 4,000m depth and start drilling the new 804-5-6 Deep Wells instead? Will a Specialist come onboard with their own rig to get the 802 Deep Well flowing unheeded? The well flowed up to 900 bopd from an open hole, that's $11m p.a. net profit, so perhaps a deal can be dome, especially with potentially higher flow rates? It's anyone's guess when we'll hear where the 803/ WS wells are at. The next well update imo will be regarding the P1 Deep Well sidetrack completing/ testing on Block 8 which can't be for off now. An update regarding one or two CE Charter updates is also due a

Yep, luck plays a big part in punts. My biggest punt was £100k into an off shore oiler that had potentially 8 billion barrels of oil off Namibia about 17 years ago, even geo clients put dosh in - spud went well the only problem was not one drop of oil, further down the coast and FAR hit the jackpot. Nowadays no one trick ponies and oil to surface plays for me.

Jack,

I gave the nod on Pantheon several years ago before their share price starting going up on the back of potential North Slope oil, but waited to see if it flowed commercially and still waiting.

Could you tell me how many barrels of oil Pantheon have pumped from the North Slope over the past 5 years? being down 95% could be the reason, a lot more dilution is on the way if you ask me, the potential is there, but can you tell me if 'any' company has flowed commercial quantities of oil there after trying for 10 years (not at the bottom of the North slope - has the upper oil migrated down over the years hmm?).

I personally think IF any Pantheon well were to flow commercially it would be in the low 100's of bopd not 1000's due to various wells having very limited success when testing oil flows, remember 2C Reserves are only Contingent that may be there or not, worth a small punt until they can prove the oil flows to surface.

Between these two particular companies it's better the devil you know with CASP re booked 1C/ 2C (P1/P2) Reserves booked and soon to be added to with better commercial flow rate odds from 10+ wells, and still at a rock bottom price. imo.

This time last year (and the year before) I was saying I hope CASP's share price stays in the 2p range so I could B&B a load of shares into my tax free ISA, which I did, and I now find myself again hoping I can transfer circ. 1m shares again on 6 April, however I don't think there's much chance of that happening this time around.

Good look with your stock picks.

D,

Mixing the T & J low API/ API high oil can work, but mixing the T oil with low temperature 'unflowable' J paraffin oil wouldn't cut it and a heat pump would still be needed.

We don't know where the drill bit is currently at, but hopefully the T flows too.

Just back from a funeral, we might see ours by the time CASP flow WS/ Airshagyl etc..

D, why do you think?

S25m?

That's very expensive cheese then.

Whether they''ll be able to mix the Jurassic/ Triassic oil together or not they will still need pumps etc. to get the Jurassic paraffin oil to the surface. It will take a few weeks to get to 3400m and test the Triassic interval of interest from 3000m (what depth is the drill bit at?), a lot longer if they're still hovering around 2250m depth, no mention of the 2600m Triassic target?, which is very strange, if they have drilled to the initial 3000m TD - it was mentioned several times as the secondary target.

P1 should be the next well update, not holding my breath now re 803.

A Charter(s) update can't be far off to boot.

The big question for me is have they drilled into the 2600m Triassic target yet, if so what was the result, however they have now moved the Triassic interval of interest to 3400m? note the plural interval(s).

Remember the Jurassic had a 52% CoS so the WS is a success, at the moment it is NOT commercial flow rates as the interval was unable to flow oil due to the paraffin oil solidifying properties, but it is live moveable oil which should be able to flow (300 bopd?) IF they decide to go back and test it further, which depends on IF the 3400m Triassic zone flows (which has a 20% CoS), it will cost is a lot to get this 5m interval flowing re heat/ SMP's etc. are not cheap to buy - hopefully they already have one).

Who ever is working on the seismic data needs replacing, didn't spot the 803's 60m oil column above the salt layer and now the 2600m Triassic zone has moved 800m furrher down to 3400m?

Is Clive et al throwing darts at the seismic print offs?

Has the P1 Deep Well sidetracked completed yet, is it testing yet after 3 months?

Has the 803 Deep Well restarted testing the 60m oil column yet after 3 months too?

Why is the P2 Deep Well not flowing test priduction?

When will the A5, A6 and A7 Deep Wells start drilling again?

No doubt a busy year ahead, but geez, comms are pants.

The other 100m shares yet to be added to the shares in issue pot will be delayed until this 5m interval flows commercially or the deeper Trassic interval does.

How are the 803/ P1 well tests going?

Q.

Will we be able to transfer a hefty amount of shares into our fund and shares account ISA's sub 3p on 6 April, doubtful but here's to hoping.

The WS well had two targets 2300m and 2600m.

I guess this 5m interval is the initial 2300m Jurassic target, so what happened with the Triassic interval at 2600m? and what depth are they currently at?

Are they now at 3000m TD? and going to drill down to another Triassic interval of interest at 3400m.

A heat pump is going to be needed to lift the parafin oil from the 5m interval, not what we wanted to hear, but at least it should flow, the Q is how many barrels per day, not that many I'd guess.

So another couple of weeks to hit 3400m if indeed they are at 3000m now.

Another RNS lacking in detail.

Not necessarily as there are at least three wells and 2 charters to come in in the next 2 months.

It's highly unlikely you will off set any CGT against CASP as CASP will be much higher by 5 April therefore you will have to pay CGT.

What is your average share price?