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I bought this share at 0.55p and at the time it was a punt because I thought we might get news that USA production had been going on quietly behind the scenes. When we got the most recent RNS and with no mention USA assets and equipment sale still delayed I sold out. It has since risen sharply however I am sceptical that this is a reliable rally as there has been no news. It was this passage that worried me. Progress is slowly being made towards initial equipment sales and shareholders will be kept upto date with progress. In the event that equipment sale realisation is delayed or becomes problematic, then the Company would need to raise capital to continue to meet its obligations when they fall due.

18 sep 08

on the website go to "investors" click press and AIM releases. Scroll down to 26th SEP 08 the information is there.

The big unknown question is are the wells producing at current oil prices. I suspect that since they have had workover they should be profitable at present prices. You will see from previous announcement (29 June 09) that the creditors were happy to swap debt for equity in the company so they must see a future. High risk this one but hey I am currently 80% up. http://www.rigzone.com/news/article.asp?a_id=63897

They have a stripper well operation in Kentucky the wells are very old 1940's and only produce about 5 barrels per day. However running costs for that kind of operation are very low you only really need a guy with a pick up truck and a grease gun. The best thing about stripper wells is that although production rates are very slow they are very stable and will go on plonking away for years. http://www.rigzone.com/news/article.asp?a_id=66812

This company is in lock down mode and they will not respond to emails or phone calls. However we saw a few buys on Friday and it appears that there is a new report out. Now I am not going to pay $75 to find out what is in it because the SP will tell me that anyway. So it is just possible that this will move one way or the other next week. http://www.reuters.com/finance/stocks/analystResearch?symbol=CSH.L

They lost the production in Kazakstan because they lost the court case. The dispute was over low production rates and therefore low revenue for the government they won the court case but lost the appeal. They may or may not get it back at a further hearing in Jan. However in the mean time they were forced to remove all production equipment from the field and they intended to sell it. If they have sold the equipment banked the money and if the USA assets are in production then we should see a rise from these levels.

Well it possible but not without news. They said they would inform us in the 3rd quarter about results of equipment sale and time is running out.

The stripper well operation is very dependant on oil price the big question is are they producing at $70 oil? If they are then what volume? Well how's this for a whild guess if 40acre had 8 wells at 5 barrels a day then 200acre could have 40 wells. 40x5=200bpd Hows that for speculation and guess work.

Been digging around. http://www.rigzone.com/news/article.asp?a_id=63897 http://www.rigzone.com/news/article.asp?a_id=66812 There is no more up to date information that I can find but there is nothing to suggest that the company is still operating in the US. http://investing.businessweek.com/research/stocks/private/snapshot.asp?privcapId=46893587

It is interesting that 54% of the shares are in the hands of the major share holders and also that the creditors were prepared to accept shares in exchange for debt.

Up 3.45% but the 30.77% spread is killing my profit. Still I shall wait for the news and then see what happens.

Well thats share trading sometimes you just get it wrong. Not to worry took the funds recovered from here and as I had already written them off decided to take a massive gamble on CSH at 0.55p and well so far so good. GLA.

Hi. Glad to see I am not totally alone. Bought in here at 0.55 hoping for a bit of a return. They did say in the last RNS that news about the equipment sale would be released in the September quarter so should be soon. There has been no news about progress in the USA but with oil prices back at around $70 the operations there should be viable. The equipment sale alone should raise more capital than the company is currently worth based on the present share price.

Still waiting for news but there are a few buys going through and the SP has started to respond.

There should be an RNS about the results of the equipment sale soon so maybe a few people buying on speculation of increased cash reserves.

I bought in to this company at 24p and I watched the SP rise and fall but I was holding for the long term because I liked the potential of the mines. However due to a number of problems with production and theft the company has now decided to sell the mine at a massive loss. They then announce that they will transform in to a sharp and thrusting investment company. Well sorry but I just don't believe that. I sold at 17p and am glad to be out at a loss. It was the gold in the hills that attracted me to this company inspite of not because of the management. There are so many good cheap companies to buy right now I have already made back most of my losses. I only invest in mining companies and oil companies and this is neither anymore. Good luck.

The company should have made progress selling the equipment and we were told that we would be updated in the September quarter. Does anybody have any idea what is happening in the USA ?

This company was a one trick poney and now the have bailed out. Expect to see the proceeds frittered away on directors pay and winding up costs. I am out at a loss, a harsh lesson about how much China lags behind the modern world.

I saw this posted on another site. "The boss man , Frank V... , and entourage are in the UK doing a bit of a PR trip around the institutions trying to allay fears . They have been re-assuring the big holders that , despite the theft and slow production , all will be fine . And I gather they are sticking to this years targets ." But no official news.