Caspian Sunrise Share Discussion Threads

[davidblack] 14/12/2017 12:24

Are you Missing the point deliberately? The point of the flow test is to be able to make a case for the highest reserves possible in the CPR with the aim of getting to more than 700mboip. That gives us the long production licence not the shorter 29 year one.

So why wouldn’t you want to give yourselve the best run at the problem?

[bad gateway] 14/12/2017 11:38

Must admit although I was happy with their stated 3800bpd have never heard of a pre test before, not a 15 day one anyway?

[evilblues] 14/12/2017 11:31

Agreed Konil. I for one am documenting everything in the unfortunate case that we are indeed being strung along. If that were the case and enough of us cared I'd imagine a good corporate lawyer would be be able to build a good case against the company with the known facts so far. Hope it doesn't come to this but we'll worth collating 'evidence'.

[togglebrush] 14/12/2017 10:58

"For 15 days before the formal start of the 90-day flow test the well flowed 3,800 bopd" which should have filled 19 Road Oil Tankers a day and put quite a few thousand Tenge and dollars in the bank, A useful contribution just before the company's Accounting YEAR End on 31st December 2017

[davidblack] 14/12/2017 10:35

Actually no, they quietly announced that production is at 4,000 bopd which at $20 is $2.4m a month gross. Yes there are costs but the reality is the are able to tread water while these issues are resolved unlike in the prior era where every delay meant they were one day closer to needing to raise funds at cheap prices.

So let’s see if this is a brave new transparent world by waiting to find out if the issues are quickly resolved in the new year.

[xclusive2] 14/12/2017 10:08

Bull, Getting more cynical as time passes with our Pox. Not saying that it's a dead duck but you can't escape the fact that operational issues hound this company and the monkey is still firmly in place.Smarty

[captainfatcat] 14/12/2017 09:39

Very tempted to top up, essentially they confirm 15 days of 3800bopd prior to residual drilling fluids building up and restricting the flow. If they can manage to clean up the well without getting the coiled tubing stuck then things will start looking quiet rosy and the share price should reflect this.

[bullinachinashop3] 14/12/2017 09:37

X2 I recon we might see more than 3800 ..don't get too down exciting times , 801 side track is great news remember we had 100m of oil there too

[davidblack] 14/12/2017 09:36

At least they are putting the ne s out there. Clearly lots of operational challenges but also a clear route to deal with them. So on balance good.

[xclusive2] 14/12/2017 09:32

Well, not quite what I was expecting ! Not an exact science, yep that about sums it up. Wealth transfer day and great for traders with money to burn, not so good for those who have taken a punt.146 is disappointing, question is, why is this unlike the other wells ? A5 is the real disappointment and I'm getting deja by from the 2014 experience. Only difference is that it's a sidetrack this time and the well has flowed for 15 days at 3800 bopd which is far better than the 2000 bopd for a few hours. http://www.roxipetroleum.com/roxi/en/media?ref=270I think you can see some similarities ! lost pressure, coil tubing, stuck coil tubing, compressor failure, blah, blah.Clive,No more Carverspeak sir. You're now looking a tad silly re your expectation setting at the recent roadshows and as per the investor presentation. All about credibility and another A5 fiasco needs to be prevented as any trust will soon be lost.A very disappointed investor !!

[togglebrush] 14/12/2017 08:53

A good days trading in under an hour (1.3 million) a busy day

[harrissen] 14/12/2017 08:53

LOL¬! They must have heard me thinking!

Now gone to 8.75p

[bwakem] 14/12/2017 08:51

Managed to pick up 166,588 shares @ 9p.

[harrissen] 14/12/2017 08:51

DUMMY run now of 150000 shares and they will pay 8.88p - so the MMs want shares!

Don't let them have yours!

[hallow] 14/12/2017 08:50

What a disaster.

[togglebrush] 14/12/2017 08:10

Early Action
'
Dummy trade Sell @ 8.50 Buy @ 9.25

[bad gateway] 14/12/2017 07:52

Agreed hd, its not a bad update really. Some delays but after achieving 3800bpd first. Will buy if the mm's allow at this 8p-9p and hold for an after xmas update.

[hiddendepths] 14/12/2017 07:41

I'm sure the market's not going to like it. But disaster it most definitely is not!

I think it's OK actually. Just short term operational issues which will probably be sorted out soon enough. Plenty of action on the deeps is imminent, which could well be transformative.

Looking to buy more on a drop! Could be a good opportunity. It's all coming together nicely.

[astorcourt] 14/12/2017 07:32

It reads like a disaster to me. 8p coming.

[dafad] 14/12/2017 07:14

Plenty of news to come in the new year-slight delays but no disasters at this stage

[togglebrush] 14/12/2017 07:05

RNS ... Operational Update
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Deep Wells A5, 801, A6, A8
Shallow Well 146

[konil] 13/12/2017 15:16

something i'd missed previously is that not only conversion to production but also the length of production licence (29 or 49 years) is on a structure by structure basis. so if they convert mjf to production on a 29 year licence, because mjf reserves are less than 700mmboe, everything that comes after does not also have to be 29 years.

if later they find 700mmboe at a5/a6 then that could go to production with 49 year licence.

[konil] 13/12/2017 15:09

david, agreed, that would do nicely. perhaps they will do a comprehensive ops update this month to close out 2017. of course if they do, they will have to mention a5, but it doesn't matter if they aren't ready to give flow rates provided its a positive holding statement.

i would like to get a detailed update on 146 where they were testing 5 intervals. they must have results from at least some of those by now. if its good that's 4000 bopd in total nailed on from the shallows to date.

and the last update on the new shallow structure at well 808 was early august iirc. but they probably dont have the bandwidth to pursue all fronts at once, so perhaps no further forward on that one.