Member Info for somm

Why on earth would the rig seller be selling fractions of their 19 million shares for a minuscule profit, simple they wouldn't be.

They will be wanting to treble their $750K at the very least knowing the potention return that's very lilkely coming to a cinema near you da da da da darrrr da!

Funny really when the share price dips the balme goes on the rig seller lol! The buy/ sells are simple PI trades nothing more nothing less.

Couple of weeks yet until A8/153 news imo - they're not the fastest drillers.

How can they estimate the A5 Well sidetrack to drill at 7m per day - three months to drill 650m?

Must'n be easy doing the laces up at the back of the jacket ;- )

Good to see three more wells brought on line and another 70 bopd added, but I've got to say what a load of repetitive whaffle - what's the sales price of these higher priced blends and where's the meat on the bones re CL update now the boarders are opening up (we start to plan testing CL in Nov/Dec? MA?

Current Gross annual revenue on 350 bopd is approx $9 million at $70 pb ($6/7 million net?).

MA could produce gross revenue of around $16.6 million p.a. with 833 boepd.

Diggittt the well testing cost is pretty much covered it's the what happens next re hub/ pipeline if it proves to have commercial quantities of gas/ oil?

Badgernator,

They won't get that you need to know what their net profit per barrel is.

KK et al.

Do you have an email address for Shin/COO etc. the info@...... address is bouncing back?

Yes KK that's much better, your bouncy castle has been ordered.

Geez KK where's the razor blades...........

With the Argentinian boarders properly opening up 1 November the BoD will have no excuses left but to test the CL well (before year end) asap.

Obviously this is going to be either a none commercial well as the last one or a Company Maker, with decent background gas levels hopefully the latter.

If the gas Spot price continues to rise into mid-next year the good thing is we could get a significant uplift in our 'new' contracted gas price to nearer the Spot price where 70% of our gas is sold at - $3.52 to nearon $5 bucks for new contracts next year would be amazing.

How are we going to handle MA?

Will we see dilution to raise cash for a MA pipeline - will they truck the gas?

If the CL well is commercial then a stand alone hub / MA-CL pipeline will be in the making as they've stated which will obviously need funding.

This is why Res 2 was needed to be passed to give them access to a capital raise through the issuing of shares to fund these work programme(s).

I'm not too fussed about the bread and butter trickle of oil being added from the suspened oil wells being gradually brought online, the prize lies with the CL testing being commercial.

Hopefully a RNS re the CL well testing isn't far off.

Potential 800 meter gross oil column stretching 58 km - net pay?

Holy Moly, if only!!

Sent and heavily tweaked with questioning i.e. what were the Directors 'incentives' to fast track handing over 95% of the Company to Bondholders with a 16 month deadline ahead, leaving instituional/ sharehoolders with 5%?

Any way the way I see it is CA will have spent millions on court costs too and having a 25%+ stake in the HUR and will not let HUR fail.

IMO they will push hard for the gas flaring permit to increase pressure in the field leading up to paying the Bondholders off or pushing the bonds out for 4/5 years (or get now Bondholders) which will allow the growing $144 million in the bank to grow to fund a sidetrack(s)/ water injestion well/ shallower new well.

All Hurricane need is some more time to grow funds to further develop Lancaster et al.

Worth a mention.

''Before the end of the year we plan to spud a new deep well, Deep Well 802, targeting structures in the Devonian. This will be the fifth deep well at BNG and the second on the Yelemes structure

The well has a planned Total Depth of 5,300 meters and will be drilled using our RT50 rig. As we have already acquired the casing for the well and will be using or own rig the additional costs are expected to be limited to $5 million.

Drilling is expected to take six months to complete.''

The average drill speed to TD is approx. 29.5m per day.

Whereas the average drill speed to sidetrack the A5 Well from 3,850m to 4,500m (650m) is approx. 7.2m per day (3 months to complete).

Big difference.

KK.

I'll give you an example of three Discoveries that didn't flow commercially.

GKP discovered 4 reserviours and all where RSN'd as Discoveries (only Shaikan flowed commercial quanities of oil) the three that didn't flow commercially added billions of barrels to the OIP numbers and probably added around 100p to the overall shares price high of 465p.

I rest my case.

C.C. good post re Tengiz Discovery.

Two weeks to being CASP millionaires or forever wannabees............

For the past couple of years there hasn't been an Op's Update for a couple of months (November) after the half year report, which will give them time to increase the 4 wells to 7/8? out of the 10 wells (that will be 3 months since last Op's RNS - they still say 4 wells in the interims).

Personnaly I don't think we will see a material share price rise until CL has been flow tested (next year. imo) or MA has come online.

To get a new pipeline built re MA we're going to see an equity raise to pay for it especially if they go ahead with CL hub connecting the two, which will cost millions that they won't have - they indicated funded will be needed in the Interim Report to pay for new developments.

Next year Rodders.................

KK.

You're being an extremist - take your shoes off and have a jump on the bouncy castle.

KK.

''finding oil is not a commercial discovery''

Finding oil is a Discovery and if the well flows and becomes blocked as per it's still a Discovery even if it doesn't flow commercially mate.

Just to add the A8 Well could have a Gross oil column between 4,500m to 5,300m and I'll bet there will be more that 3 zones to go back and test.

It doesn't really matter (if it is a discovery) if the wellbore gets blocked (again ZzZzZz) IF there's commercial oil down there (the share price will still go nuts) then a new CPR will be done next year to show the potential OIP numbers and 2C numbers etc. (obviously appraisel wells will need to confirm the boundary's of the reservoir and the size of the prize in the coming years).

What will the net oil column be between 4,300m - 5,300m? If it's as big as we hope then we'll need a partner or sell the Company - too much dosh will be needed for CASP to go it alone, especially if the other deep wells come in.

Holy moly am I getting too ahead of myself, chuckle........

CC. The original depth was 5,300m.

''At Deep Well A8 we will continue drilling towards the original planned Total Depth of 5,300 meters. Once completed we will return to examine the new potential intervals identified between 4,500 and 4,840 meters.''.

So not there yet, though we do have at least three new zones to test and in my experience oil shows all the way down to TD usualy prove a discovery in the Primarry Target.........oh my Devonians!

A couple of weeks yet imo for 153/A8 well results, they will do a flow test on the 153 Well for 5? days and if the A8 Well has major flow rates then I'd say more than 5 days to flow test it to make sure it doesn't become ,cough! blocked.

Another devonian well spudding in the coming weeks (6 months to TD) and the A5 wells sidetrack to boot (3 months to TD).

Could we see the delayed SY license upgrade given before year end to boot?

Q4 looking very eventful and Q1