Member Info for somm

73,875,000 shares bought.

Now that's what you calla buy.

You three comedians should be on stage............sweeping it!

.....since the A8 Deep Well was perforated and testing began, knock off 3 days IF shut down due to the unrest.

Two weeks of flow testing - 3 days shut down - a further week of flow testing thus far.

News isn't far off chaps.

KK,

That's what I was saying i.e. they will have 8+ exploration wells which will effectively be appraisels wells. A Field Development Plan will have to be put together before any appraisel wells are drilled and imo the FDP will be done by a Major. Any appraisal wells being drilled are way off.

Only thing crossed here is fingers ;- )

KK,

With 8 deep wells you won't need appraisal wells to get 107p+ once they've been sidetracked / had acid treatment/ drilled to TD etc..

The big boys will do the appraising ;- )

20p?????????????????

Based on 1 billion barrels of OIP with a very very initial conservative RF of 10% / $30 pb profit oil/ 2.1 billion shares in issue/ 75p to the dollar.

= 107p

Increase the RF to 30%/ in crease the OIP to 2 billion barrels and what do you get?

Won't be 20p..........

So what you're saying is the A8 Deep Well can't sell it's Devonian oil to the export market and neither can the A7/ 802 Deep Wells and the A5 Deep Well to boot, and the 25 year SY export lisence is only for the shallow SY structure and not the Devonian reservior on the SY structure.

We have now received the 25 year production licence for the SOUTH YELEMES STRUCTURE.

''This allows EXISTING WELLS to be re-opened, and the majority of production from the structure to be sold at international rather than domestic prices.

The structure LENDS itself to use of the horizontal drilling approach that is working so well on the MJF STRUCTURE''

How many existing (deep) wells are on the SY structure?

I understand the $32 million licence fee is for all the BNG structures and the existing deep wells are part of the SY structure so should be covered in the BNG license.

CASP didn't wait all this time for the export license upgrade application, it's been sat on the oil committees desk for the past two years so there was no point priducing 300 bopd for $6+ pb to the Domestic market losing them money.

I don't think we will have to wait another 2 years for a license upgrade to produce oil (exported) from the Devoinan.

KK,

Todays trades are mostly buys - the 4.035p trade is likely a sell but the rest are buys, I could buy this morning at 4.22p.

This 5m interval was perforated around a month ago with an initial 2 week of testing/ 4 days of stoppage/ another week of testing thus far. The 153 well took over a month to flow test and produced 1K bopd, hopefully the A8 Deep Well prodeces a good flow rate too.

What they might do is continue to perforate (before releasing news on this 5m interval), which I belive they are already doing from the top down into another close interval(s) in this oil bearing section of the 140m gross zones (3 intervals). I believe they said they can only perforate 5m/8m at a time being a vertical well so by the time news is they could have perforated several (5m sections) with flow rates from several zones.

Of course the 5m section could be blocked and they're reworking the interval with acid etc. but my bet is they flow testing this section and moved forward with perforating other intervals.

So we could have multiple interval flow rates announced/ just this 5m interval update in the next RNS or the well was blocked during testing?

We'll just have to wait, but I'm hoping we'll get an RNS next week updating us on this very important well after a month of testing it.

I'm also expecting an update on the A7 Deep Well spudding and a shallow horizontal well having spud (142/152 wells) to boot too in the same RNS.

I guess we'll see the 802 Deep Well spud this month and a CE/ A3 Best update / other throw in the Op's mix.

The price of oil per barrel still has some way to go with $90 pb in view.

If the A8 Deep Well comes in with 3K bopd doubling our current production number then pop the corks as it will mean there will be another 7 deep wells that (I'll use that 'will' word) will produce around the 5,000m mark, the Devonian would prove be a massive reservior of light oil, Majors will be in the Dataroom as fast as lightening and bring in the big guns to get these deep wells flowing and bye bye CASP.

Ooooo getting ahead of myself...chuckle.

KK,

Nope.

I could have bought shares this morning at 4.32p but waited and bought them at 4,23p so they're buys imo.

WRT to the A5 Deep Well sidetrack they were waiting for around 700m of drill pipe to be delivered before they could commence drilling, which either hasn't arrived yet hence the delay or they've used the piping towards the A7/802 Deep Wells.

My bet is they will drill A5 Q1.

There's a long time yet before having to complete their SY Deep drilling deadline, but obvioulsy want to get these two wells
out of the way while the irons hot.

Plus they may be waiting for the Dutch acid treatment to arrive to be on the safe side before drilling the A5 Deep Well, which it will imo before A7/802 hit TD.

Yep, my 142K buy is showing as a sell - about half of todays transactions are buys.

Any way topped up in anticipation of A8/ other news next week.

Got to be in it to win.

KK,

Don't forget the A5 deep Well sidetrack to boot ;- )

Where's our Acid? https://www.youtube.com/watch?v=EeCw2nuWXTQ

I've just toppped up with 142K shares @ 4.23p let's see if it shows as a buy.

The A7 Deep Well has a TD of 5,300m and should have spud by now.

I reckon either this depth had already been planned for before the release of the A8 Deep Well hitting 5,450m TD and so they have tentively stuck to that depth, with the possibility of drilling deeper to 5,450m.

Or there was nothing below 5,300m and that's why they've stated 4 months to drill to 5,300m?

After finding 140m of gross oil bearing intervals (three intervals) why are they drilling to 5,300m TD and not 5,450m? does one or two of the three intervals (only lol!) go as deep as 5,300m? we will see, but if they do have oil that deep then the OIP numbers will be far higher than if the intervals were only hovering at around the 4,500m-5,100m for sure - looking forward to a new CPR or at least in-house numbers.

They only need to find oil at these depths, even if it’s thick tarry oil (more like light oil as with Tengiz), to increase the OIP numbers significantly and therefore the value of the Company when bid on.

802 Deep Well – ditto.

IF big IF all three deep wells A7/A8/802 have all come in flowing by May with the A5 Deep Well sidetrack and the other two deep wells having successfully had Dutch acid treatment to boot where will the share price/ MC be?

There's lots riding on the A8 Deep Well result interval(s) re oil depth, better understanding of the deeper geology pressure/ mud use and of course it's flowing rate(s) at commercial quantities – roll on A8 news.

KK

They could have invested in the close period, which is typically regarded as the one-month period preceding the release of a company's quarterly results, and the two-month period before the release of its annual results.

Any way I'm sure they won't have to wait 10 years to pick these options up.

KK

''Could've offered the Options when the SP was 1.5p..

He could have bought them too @ 1.5p for £37, 500 far less than £100K.

A perforated 5m section had begun being testing 15 days before operations had stopped, I'd guess the 3/ 4 days of stoppage time has allowed pressure build up IF flow testing really did stop on this well.

Expect news any day...............

.....@ 5.5p within the next 10 years?

You would think they'd buy that many shares circ. 20% cheaper today?

Let me know when they've bought them..........