Member Info for somm

Yep, been saying that for years as each year has been pushed back.

The fact is CASP have a lots of wells to go at this year (currently 10 wells) with another well on WS and YD to boot.

We should see production from WS, 803 and P1/P2 well before mid year with potentially the A6 and 2 Akkaduk wells to boot.

CASP will see this year and next year the 2 new YD wells spud and 2 of the 3 Airshagyl wells spud 2027/8, so the longerrrrrr game is in play for those willing to wait. I thought a FDP would have kicked in this year, but obviously not with 5 new BNG wells planned in order to get the two 25 year BNG licenses.

And a couple of charters this year will add further funding.

In the meantime they are in talks with a few potential funding partners, which may see 50% of Airshagyl sold off.

So there's a longer wait for those who thought they'd see BNG/ company end game by now.

Is that out for a duck ;- )

Meant 2 new wells on YD 804 and 805. The 803 is not a new well.

They have 2 years to drill these two new YD wells so I'd guess we'll see the first well spud in 2H after the A wells/ 803 have completed. They say they can drill 4 deep wells at once, but will they ever? especially as they'll likely need a permanent rig drilling new wells on WS if it flows commercially to prove up the touted 80m barrels and production revenue.

Will they ever finish the A7 Deep Well? Pull the stuck pipe out ot the 802 Deep Well? sidetrack the A5/ A6 Deep Wells before summer?

Will these wells get kicked further down the road or will Carver put his pork pies down and actually get the drill bits turning.

803, P1 and WS are the only near term wells that could lift the share price within the next month and the P2 Deep Well to boot, which appears to be shut in pending further testing/ pressure building?

Just doodling.....

Thanks Nobody,

The deeper they drill the bigger the oil reserves will be and higher flow rates as with the A5 Deep Well. They said they have to drill 3 new wells on Airshagyl and 2 new wells on Airshagyl.

Perhaps drilling a 1,000m horizontal deep well would have a better chance of flowing rather than a 50m-100m vertical well section.

Anyway thanks for your feedback, yes let's see what the next few weeks bring.

Nobody/ BM,

Was the 803 Deep Well discussed re continuing drilling through the salt layer to the main target or drilling a sidetrack after flow testing the 60m interval?

Did Carver say they are currently flow testing the 803 Dee Well or about to start this/ next week?

Gmo,

I think CASP chartered the CE and recieved $14m and around $3m net last year.

$1m loss?

BM,

Tell your mate to read my posts for a better understanding :- )

BM.... :- )

DM,

Yes I do and I hope they do manage to bring those 5 YD/ A wells into production this year along with the first of two YD wells. We may see the A6 Deep Well sidetrack completed before mid year and the A5/ A7/ 802 wells in 2H.

If the WS well is commervial no doubt they'll spud another well soon after and other B8 wells, which leads to the question will they have to buy more rigs.

They should already have an initial OIP estimate for YD/ Sholkan/ Akkadukl/ Airshagyl as with the estimated 80m barrels of OIP at WS.

No doubt we'll have a better understanding by YE.

Thanks DM,

And such an important well.

With the A8/ 801 wells being none commercial and being P&A did anyone ask if the two BNG structures OIP numbers had shrunk from their initial barrels of recoverble oil estimate.......did anyone ask what the initial OIP numbers were for YD/ Airshagyl?

Thanks

BM,

Are they still looking for a Specialust to pull the 802 stuck pipe out or considering buying their own specialust equipment.

The well poduced 700-900 bopd from an open hole, production would pay for the equipment, was this option discussed?

The only near term production will come from P1/ WS/ 803.

Every other well will take at least four months to drill/sidetrack from when they spud so I'm no longer looking at production coming from any other well in 1H.

Hopefully news regarding P1/ WS/ 803 will be out within February.

Thanks BM,

Let's keep on dreaming ;-)

BM,

CASP took the G70 rig off to drill a shallow well 3-ish years ago (815 well?) they never mentioned they'd lose a shallow license if they hadn't have done that.

They said they would redrill the A7 Deep Well in 2026, my question was did they confirm when?

If the G70 rig needs new parts from China as Nobody indicates it isn't going to redrill the A7 Deep Well for quite sometime, probably nearer YE, as the Chinese want an upfront payment (which CASP didn't have with running on fumes) and the lead time is circ. 6 month......So A5-A6-A7 deep wells are all on the back burner awaiting sidetracks/ repairs.

Could you remind me what they said about the 803 Deep Well - have they actually started flow testing it again?

Thanks Nobody,

It was a bit unusual though to stop drilling the A7 Deep Well at 2,150m a few years ago to drill a shallow well, if it needed parts they've had years to order them from China etc..

A 63km gravel track, not too expensive to make apposed to building a $10m-$20m pipeline. I drove inland on a 40km dirt/ gravel track in South Africa on the way to a safari camp - bumpy memories.

Anyway thanks again for the feedback/ effort.

Nobody,

The G70 rig was used to drill the 815? shallow well 2-3 years ago. It's supposed to be being used to redrill the A7 Deep Well early 2026.

If you have Tim Thompson number from flagstaff perhaps a call to clarify?

Thanks guys for your feedback, much appreciated.

Q: Did they mention anything on the below wells.

What's happening with the 803 Deep Well testing - has testing restarted yet?  

The A5 Deep Well - when will the sidetrack happen, has the G40 rig been mobilized to site yet?

When will they start the sidetrack on the A6 Deep Well?

The A7 Deep Well is set to start redrilling this quarter - Feb/ March? - is the G70 rig on site?

Good to hear WS/ P1 results are not far off as anticipated with many updates on the way, a busy 1H for sure........and double digits ; -)

ME finance partners? nobody wants a large WI sold off to a none Major, especially if the deeps are flowing Xk pd.

Market doesn't like court cases - kick it in the head as soon as.

Cheers

Thanks BM,

Bisides the double digit quote was there anything said regarding my below post to Ukred, on the sidelines?

Thanks ukred,

We can only ask, you don't ask you don't get.

Probably best to question the COO too during/ àfter the GM (if hes's there) as Carver apparently has limited technical knowledge, though he should know where we are on the wells/ charters etc..

Ask him if he expects to get his $3 million bonus re CASP hitting a MCAP of $800 million, chuckle.

Thanks.

Ukread,

Would appreciate it if you could ask Carver where the A6 acid wash is at along with A7 spud date, 803 testing, WS testing and P1 sidetrack on B8 that should have started in Nivomber and charters to boot.

When can we expect reserves to be booked on Yelemes Deep and the Skolkana structure - what is their intial expectation on each of the structures OIP numbers and initial recovery rates 15%? etc..

Will the IP show where each well is situated per structure (take a photo of each slide).

Have they purchased the G70 rig yet?

When will they start drilling the 2 new wells on Yelemes Deep - this year? And the new 3 Airshagyl wells - next year?

When do they plan to sidetrack the A5 Deep Well - this quarter, has the G40 rig been mobilized yet?

Jot these Q's down or show him this post.

Cheers.

Un,

The P2 Deep Well on Block 8 has been flowing over 6 months so it's in production, but will be on test for 12 months perhaps, the oil pumped since the testing started will have been sold and the proceeds will no doubt have been paid to CASP to pay off the $3.2m?/ $5m? loan or at the very least to cover their drilling costs.

RNS: 11 July. - ''Test production from Deep Well P2 has increased to approximately 876 bopd using a 4mm choke.''

A month earlier the P2 Deep Well was flowing 250bopd so we saw a very good increase in the flow rate.

RNS: 18 June - ''At Deep Well P2 production has commenced at the rate of approximately 250 bopd.''

The flow rate dropped a tad by 30 bopd a month ago or so to 846 bopd, but overall it has continued to flow steadily way over 800 bopd for nearly 7 months with no signs of any blockages, so no worries here.

When the P1 Deep Well is flowing for 6-12 months too they will likely book reserves on the Sholkara structure, and possibly the Akkaduk structure too by year end if those two wells flow for 6-12 months.

By mid year both the P1 and P2 Deep Wells will have been flowing 8 and 13 months respectively so we could see reserves booked in 2H. imo.