Member Info for somm

If CASP could truck (200 barrel load) at $20 pboo that would leave them with approx. $10 more per barrel than they're currently getting through the the Russian pipeline network, they currently have around $35 to play with, which will increase with a rise in oil prices which is looking more likely.

Obviously depends on distance.

If Hungary falls to pressure then the Urals oil price will collapse over the coming months as the EU weans it's self Russian oil and CASP will have no choice but to export their oil by trucking it to the nearest alternative none Urals pipeline. CASP could end up selling a lot more oil domestically at $30 pb if exporting it doesn't prove viable.

Shipping their oil could be a lot more costly.

Uncertain,

Carver said the main dividend payment would be in December inferring the first dividend (July)would be less.

Nothing happening here for months, promises of this that and the other happenings from 2019 haven't changed - 2023 before we see any production. imo.

Multi bag potential from here, but when?

Well I must say that top up was great timing on the back of an expected higher gas contract, but happened?

Thought we might have had a VAST moment Rodders :- (

19 April 2021

‘’Following the Company's announcement of 24 March 2021, relating to new gas sales contracts for 2021-2022, the Company has now agreed summer and winter pricing for its annual industrial clients, with the contracted winter premium providing substantially increased cashflow in the near term for future operations and production enhancement work programmes. For the committed production over the key southern winter period (May to September), the Company will sell natural gas at an average price of $3.52 per mmbtu, which compares to $1.35 per mmbtu for industrial clients the previous year.’’

Just added another 1m+ shares on the back of a RNS confirming the new contract price as ECHO did last year, hopefully next week?

I reckon the debt pile should reduce this year to around $6-$7 million to boot too.

Got to be in it to win it.

KK,

"The A5 Well has been sidetracked so many times". ?

It was drilled and flowed 3,800 bopdvfor 19 days before becoming blocked.

It was later sidetracked but again blocked.

Another attempted saw the drill pipe get stuck on the bend.

Now they will attempt another sidetrack which which if successful will be their second proper attempt to flow oil again, which they should have started last year as they said.

A5 is the daddy and worth 4 shallow wells at the very least, which is why they will have another crack at it possibly with new formulated acid - A8 flowed initially at 120 bopd at much deeper depths.

The 802 Deep Well will also be spud in 2H as part of the BNG licence agreement.

it's been over a month since they said they would redrill 4 wells, where are they with them spudding?

what's happening depth wise etc. with the 142 Horizontal Shallow Well to boot?

Hope they're not using the operational dosh for dividend payout in July.

Doldrums for a while yet. imo.

KK,

They have stated in the last Op's Update that the 802 Deep Well will spud in 2H to meet their BNG license contract and are now turning their attention to the A5 Deep Well, so there will be 'activity' going on on these two deep wells.

We have had no spud news on any of the horizontal shallow wells spudding yet apart from the 142 Horizontal Well which was supposed to be being sidetracked and of March.

Months away from new oil though as I've said we may see new oil from the 142 HW next months end.

Q3 is where we should see some life being pumped back into CASP with new shallow oil and peeps wanting in on the July dividend.

Danger is Urals oil price being significantly hit further as countries wean themselves of the Russian pipeline network and CASP's profit being just enough to keep the lights on until they can find an alternative route to market, temporarily moving the export oil to Domestic sales at $30? per barrel could prove more profitable and more reliable in the short term, and how much will it cost to truck 10-30 trucks to the nearest export refinery/ pipeline (another countries pipeline that's not part of the Russian pipeline network - how far to China's pipeline/ Stans et al?).

Limbo atm and the share price will languish further until new oil/ spuds are confirmed - forget A3B license/ boat for sometime yet.

At least it gives peeps the chance to top up atm.

Mikey,

I did the maths for you yesterday stating they had hit TD, but you wouldn't listen.

Next time listen to those who have a better understanding of drilling than you ever will.

‘’Hey splatted. Try not to take this too personally..but you sir are a feckin uneducated idiot.’’

‘’Hey splatted. Try not to take this too personally..but you sir are a feckin uneducated idiot.’’

Just noticed a couple of idiots posts from yesterday ****ging me off who couldn’t get it into their thick heads EME might have had hit TD – I don’t expect an apology from either of these ‘uneducated idiots’ who haven’t got a Scoobi Doo between the pair of them. They shouldn’t invest in oil companies full stop.

Anyway hate have been proven right in this case.

splatted.

‘’Hey somm. Try not to take this too personally..but you sir are a feckin uneducated idiot.’’

Foulkeg

‘’Somm, seriously - you've actually done 2860m/26 days and 'Wha-la' that's how far we need to drill, 110m everyday to be on schedule. Honestly?

I don't profess to know the drilling ins/outs - but there is a lot more to it than that. That's just nonsense from any way I look at it.
Nobody here benefits from knowing anything over and above anyone else in relation to progress made or the next RNS content. Accept its just idle guesswork and wist for the RNS.##

As I said yesterday as it was the only logical conclusion to the massive sell off - leaked news.

''Yep very smoothly.

Their TD (2,860m) target being hit in 26 days would average 110m per day.

If that were the case they should have been at 990m on 19 April, but they weren't were they, no they were at 2,150m with only 710m left to drill.

Wayyyyyyyyyyyyy beyond schedule.

They've hit TD already. imo.''

The maths don't lie.

WOOOOOOOSSSSSSSHHHHHH!!!!!!!!!!!

Yep very smoothly.

Their TD (2,860m) target being hit in 26 days would average 110m per day.

If that were the case they should have been at 990m on 19 April, but they weren't were they, no they were at 2,150m with only 710m left to drill.

Wayyyyyyyyyyyyy beyond schedule.

They've hit TD already. imo.

The thing is I bet they didn't expect to have drill 2,150m in 9 days hence I'm guessing they've already hit TD. It's been 7 days since that RNS and with only 710m to drill I'm betting they've smashed that 26 day and hit TD in 16 days.

Can't really see any other reason why the share price would drop 23% today - coincidence?

RNS tomorrow?

Forget a 20% share price drop, because of a supposed placing that's bollux!

Since 19 April they've only had to case the well (days) and drill 710m to TD - They've average 240m per day - do the maths.

Therefore it's very possible they have hit TD and Jade isn't commercial.

Got to be in it to win it, but doesn't look good. imo.

Hope it's just a tree shake.

Oops!

Yes Wednesday the 4th of May 2022.

The drill bit has average approx.. 240m per day taking just 9 days to drill to 2,150m. - the well will be drilled to TD 2,860m.

With only another 1,870m to TD this should take another 8 days – add 2 days for casing at 2,150m before drilling recommenced.

So in a perfect world TD should be expected around the 29/30 April.

A quick flow test of 24/48 hours for initial results (4 May) with a further RNS a week or so later confirming the flow rate.

I guess we’ll see a RNS Monday, 4 May so plenty of time to top up and fingers crossed it’s a commercial well.

Gas cloud confirmed above potential light oil reservoir - wonder why the CoS has risen to 65%. ;- )

Got to be in it to win.

Carverspeak,

We're going to pay dividends in July and December with the main dividend in December?

Dividends are to be paid quarterly?

So a small divi in July and bigger divi in December and quarterly divi's in 2023.

Who's the divi?

The drill bit has averaged a speed of 215m per day since spud so we should see TD this weekend and flow testing commencing next week IF there's a discovery.

RNS out early next week then imo.