Caspian Sunrise Share Discussion Threads

[davidblack] 17/11/2017 08:19

I do t think they think they said anything new. But there was detail there that give more veracity than comes over than on the shortened presentation on the website.

Here is one point to kick you off:

KO’s recent transfer on most of his shares to his two adult children was driven by tax changes coming in from the first of January in Kazakhstan where from 1 Jan any intergenerational to you’re heirs is subject to capital transfer taxes. Doing it now was a tax free event.

The implications are that from now on when any Kazakh national sells that there will be tax to pay in the new year. It struck me this could be the source of recent selling by non director parties who are below the 3% threshold and don’t need to disclose. If correct then that means this selling will stop at some point shortly.

Additionallly Baverstock still hold the other big Kazakh parties shares so the selling is unlikely to be them as the reporting would have been triggered. Unless they are very creative!

Off to check some facts now.

[xclusive2] 17/11/2017 08:13

DB st co,Thanks for feedback.Hallow,Don't believe there is a need as nothing new came out.South Yelemes shallows - already knownA5 flowing - knownWaiting for heavy duty testing eqpt - knownFund raising - whether to or not, already disclosed Other operational news - noneSeller -?I'm none the wiser re the real need to dilute, what infrastructure costs. Speeding up drilling campaign ? But that would need to be done post current deeps when share price is much higher, they know that. They'll get a take over approach when a sensible P2 number hit. Money needs to be spent on the key immediate opportunity.Get 3 deeps & A8 flowing commerciallyKeep proving up MJFCPR reportThey'll raise money then but I believe they'll be up for sale as soon as they deliver a few wins and before further appraisals as any buyer will want to exploit the future opp and not pay top dollar.

[hiddendepths] 17/11/2017 08:10

DB made it clear that the information "is in the public domain" if you know where to look and can interpret it so no RNS required. That's long been an excellent Get Out of Jail Free card for companies doing presentations!

[hallow] 17/11/2017 07:56

Not everyone went to the meeting so a summary of information provided needs to be in the public domain.

[dipla] 17/11/2017 07:53

nothing new to add.....

[hallow] 17/11/2017 07:49

No RNS this morning after yesterdays presentation,how strange

[konil] 17/11/2017 04:07

simon and david, thanks for all the feedback. all sounds very promising indeed.

david, look forward to your further notes.

[scoobydoo99] 16/11/2017 23:11

Thanks for the updates, nothing that I can see to give any new concerns, still chanting Clive's mantra ,'we're sitting on something pretty special' - and I do believe this.

[davidblack] 16/11/2017 22:19

Lots more tomorrow including the juicy ones!

[harrissen] 16/11/2017 22:18

Cheers Davidjack, good report.

[xclusive2] 16/11/2017 22:17

Sit back and enjoy the ride. Nothing guaranteed in life apart from birth and death. You pays your money and takes your chance.

[harrissen] 16/11/2017 22:14

Simonawork has got an answer to most of the important questions and as for how long will it be before the flow testing resumes - well how long is a piece of string?
Heavy flow testing equipment costs money to keep on standby just in case you might need it - so it is ordered if required and the fact that it is needed is a positive sign that there is more oil there than can be handled by natural flow.

Thanks for the update Simonawork.

[davidblack] 16/11/2017 22:04

I was at the meeting where I think many in the audience knew the story and were just there for reassurance. For me coming back to this share after ten years away, I went there for information purposes.

The upshot is that there was a lot of what I think is "Brand new information" except that it is already out there if you have a good understanding of Kazakh oil production, a Phd and a reasonable grasp of Kazakh proposed capital tax changes.

I don’t but KO and CC were happy to explain in the follow up questions for 50 minutes after many people had left. I reiterate the information is apparently already public domain if your smart enough! I think many of us might not be?

So I am going to check my notes, collect my thoughts and check with a full blooded oil analyst friend if what I understood sounds right and post tomorrow.

But here is a snippet to warm you up:

They have an old well 54 which produced modest but handy levels of oil 30 bopd. This well they have recently tested higher up and found a Dolomite layer of soft rock approximately 1,400m below surface. This appears to be a reasonably thick much more productive zone.

Well next year they are going to drill it and it should nicely increase production but here is the catch they are going to use horizontal drilling with 1,600m of horizontal, so 3,000m in total. They expect to hit multiple zones using this method as Dolomites are naturally easy to drill and have high permeability. They never said what they were hoping for but are very confident, in part because they are just copying what Maersk did on their adjacent acreage! Oh and the cost is $1 per kilometre so $3m in total assuming they don't keep on drilling horizontally for another couple of kilometres "For Research.".

To put this in context the South Yelemes area on the broker note is 1.08% of there estimated gross oil in the ground which the analyst rates as being worth 0.7p out of 29p or 2.4% of their "Worth", and they are looking to spend $3m dollars on it! that smells of confidence.

And so much more! But I need to check that I am not getting too enthusiastic!

[simonatwork] 16/11/2017 21:36

Konil, I had suspicions it could be Dosbol selling as he sold 14m shares in August but at the time this was announced by Baverstock. As Baverstock still hold the shares they would need to announce any substantial sale and they haven't so far. Clive suggested he was aware of someone who had been selling and didn't seem concerned.

Clive had also done an institutional presentation earlier and said he felt that one thing potentially holding back institutional investment was the limited free float. He did also mention in passing that Goldman Sachs is currently on the register (for better or worse).

[xclusive2] 16/11/2017 20:53

Konil,....lol. I think you should have taken the time to interrogate our Clive and talked in Carverspeak.Seller - no ideaA5 - great well but shipping the testing kit from MarsA6 and 801 - From Russia with love. Let's hope that their techniques have improved from the early Soviet wellsFunding - Not til mid 2018 if at allInfrastructure funding ?Other ?

[simonatwork] 16/11/2017 20:42

90 day flow test should start end of next week. Takes time to get equipment in place and safety is the priority. Will be RNS'd when it starts and at monthly intervals.

Well test was only 4 hours because of pressure and lack of storage capacity to safely store the oil. nice problem to have.

Good presentation and a good vibe from the management.

[konil] 16/11/2017 20:26

did anyone ask about the selling that has been going on? more as a way of getting confirmation that it isn't baver quotaholders/dosbol.

[konil] 16/11/2017 20:23

bull, thanks for feedback. did they say a5 flow test had started, if not, did they give a start date?

how can they get 801 and a6 sorted before xmas, did they say how long they have been working on these? would have expected an ops update.

what is your estimate of number of attendees excluding casp people?

[bad gateway] 16/11/2017 20:07

Poor show on A5. Carver stated in several interviews recently that testing was to start in a few days. His word doesn't seem to mean much. Has he misled the market is the question?

[dipla] 16/11/2017 19:55

This is what I'm trying to ask but clearly no asked by the looks of it

[roy1982] 16/11/2017 19:52

did any one ask the simple question have they started the a5 flow test,and if not why not

[dipla] 16/11/2017 19:41

Yeah I no that but didn't Clive mention in his interview that it will start a 90 days flow test in a few days was his words

[harrissen] 16/11/2017 19:37

dipla
16 Nov '17 - 19:21 - 2491 of 2491 0 0

So flow test hasn’t started yet on A5?

.......................

It flowed at 3500bopd for 4 hours uninterrupted and without stimulation. It was then shut down so that specialised equipment could be brought on site and once in place the testing will continue. (see the last update a few days ago)