Caspian Sunrise Share Discussion Threads

[tag57] 13/11/2023 17:29

Xc - do you know what the COS is on the B8 wells?

[konil] 13/11/2023 14:40

yup, accurate.

[xclusive2] 13/11/2023 13:25

Put this up on LSE this am. Sums up my personal thoughts but as ever, diwn to the drill it to build prod/reserves and with it appreciation of shareholder value -;Back from a nice break in Cyprus. As I see it, our Casper is in the doldrums currently but won't take much to get the wind back in those sails. Reading the last news update was interesting. Our Clive has committed to provide detailed communications and in a more timely manner and I believe that was one of the better operational updates for detail. He started the update with the negatives ie supply chain issues and the inability to reap the benefits from gross crude prices but the update was generally positive.If you take oil production and prices as a starter. At 2000 bopd Caspian are producing much more oil now than they were producing prior to 2019, c 50% more and you only have to go back a year where they were producing 3400bopd until the demise of 141/142. Historically they were producing c1300 bopd and still managing to facilitate the drilling required to meet licence requirements and the oil prices were lower. If you look back at the oil price over the last 16 years, you'll see an average price of $72. Currently we are achieving c$33 from MR/Domestic sales which is far more profitable than they've achieved historically, even when they were exporting. They've stated that they need crude prices of $100+ to make it worthwhile so you can see how well they're doing from current net prices on the domestic market. This is further improved by trading their own oil and they've stated that this is important revenue going forward. In summary, they're in a far better financial position today than they've been since incorporation in 2007, I take that as a huge positive. The key priority now is to build production and as we know, we're waiting for news on 3 wells imminently that could build production considerably. 142 news is now due as are B8 wells. A 142 success could add 50%+ to current volumes which obviously makes a huge difference financially and B8 wells are significant as they will be Caspian's first deep well successes with unknown reserves to be assessed. We won't get payment for the oil until usual regulatory approvals attained but success on these 2 wells will be transformational for all shareholder. They've made the statement on BNG ie finalise licence commitments by drilling 803 and A7 whilst focussing on the remedial work on all the deeps drilled to date ie A5,A6, 801,802. I'm glad to se that there's no more new deeps to be drilled, firstly as it's costly and secondly, they now can focus on 6 wells that could transform all our fortunes. I'm also happy to see that they're planning to work with a partner on 802 on a profit share basis, if this works, I hope they do the same with all the deeps. Drilling competence is the issue and this has to change. The oil has been discovered but pointless continuing to throw good money after bad with continued remedial work if nothing changes so hopefully we see partnership projects continuing if 802 is successful. They've binned the Divis in the near term, I'm happy to see that too. Never wanted them until they were financially strong enough to pay on an ongoing basis. Also looking at new onshore and offshore projects which is interesting. I believe these come from Shin's relationship with KNOC and their disposals but we'll soon see. Also looking at mineral projects and I suspect that's why Benny is onboard but I hope they dismiss those ops until they achieve deep success.The CE is being prepared for the Istamay project and that's important cash for 24. 3AB has been written off in the books but KMG have now taken on Dunga so who knows, maybe Casper will be able to sell to KMG.I also see that there could be corp activity in the pipe following new accountants onboard but will be interesting to see what that is.As stated, we're in the doldrums, trading activity is on its arze BUT it will take very little to light that touch paper. Still a multi-bagging opportunity but the key priority is achieving that elusive drilling success, hopefully that's about to change :)

[bluemango] 07/11/2023 11:44

Trades probably a bit misleading today with someone on LSE saying the initial 94k was their buy. In which case probably most of the other reported trades (except the 400k at 2.6p) should also be buys which therefore outnumber sells in total by ratio of 2:1.

Currently being quoted 2.682 sell 2.82 buy but I suspect those quotes have shifted upwards from earlier.

[jtourer] 01/11/2023 08:37

Funny we were saying this 6 years ago !

[maxim1999] 31/10/2023 16:02

I have re read todays news. My own humble view is the low is in now and the next move is a big move up. I am a decent holder and won't buy any more but I think the worst is over

[konil] 31/10/2023 14:11

scrwal, yes, i'd much rather they give a status update, rather than leaving us in the dark.

smarty, i agree it looks like a 'for sale' sign but hopefully it is not...at least not until share price recovers somewhat. from here even a 200% premium would not get it to double figures - and 200% is unlikely. it would be more like a firesale and holders would not get fair value.

[scrwal] 31/10/2023 13:47

At least they are saying something rather than total silence.

[maxim1999] 31/10/2023 10:26

Having been here for some time as a share holder , in the event there is a bid for the company , I ask myself what would the minimum price I would be happy to sell at ? Problem is the share price is in the hole and not sure the family would accept a premium to 3 p even in the event there is a bid

[xclusive2] 31/10/2023 09:26

Maxim,The question should be, 'why do it after good news ?'Change of accountants, new IP just smells of corp activity. Why publish ops update now without the results of 142 and 2 x B8 wells ? Could be wrong but smells like something is up on the corp activity front .

[bsg] 31/10/2023 08:30

Because they would be chastised if they don't produce a report.

[maxim1999] 31/10/2023 08:24

Why would they have not waited until they had something to actually announce?

[xclusive2] 31/10/2023 08:08

RNS and corporate update smacks of corp activity.

[stevehuges] 31/10/2023 08:06

So there making more per barrel of oil and have 2 deeps ready for testing? Some positives to take from rns

[togglebrush] 31/10/2023 07:25

New presentation

[onsideman] 31/10/2023 07:15

A big old nothing burger

[jayrh] 31/10/2023 07:13

It's like a lifestyle share. Nothing moves just stuck pipes and delays. I think it's time to move on. Gla

[togglebrush] 31/10/2023 07:05

RNS - OPerational update is out today
'
Concludes
Clive Carver, Chairman said

"We are getting to the point of discovering the outcome of sustained drilling campaigns at both the BNG and Block 8 Contract Areas.

Success in the shallow structures would significantly increase day to day production volumes. Success in any of the deep structures would significantly impact the Group's longer term value.

We therefore look forward to updating shareholders with developments in the coming weeks and months."

[konil] 27/10/2023 13:16

not to be relived? c'mon smarty you are tempting fate. kindly rescind asap. :)

[xclusive2] 27/10/2023 13:12

A good article BB. We know the oil is there but can they get it to flow. It's unbelievable, 10 years have passed since first spud of A5 in 2013 and the rest us history, in our case, not to be relived !!!Shin is COO and head of drilling He needs to start delivering as his record to date is uninspiring.The oil is there in abundance and we stay invested to see if this mob can succeed at sone juncture knowing that a deep success sends this into orbit.Re boat sale ? I'm not expecting any positive news but exploration is picking up in the N Caspian so surely they should be able to flog it. I believe they should hang on and take the Isatay charter cash.News next week or early Nov. Make sure you have your Book of Carver on hand

[bloomberg2] 27/10/2023 06:04

https://www.telegraph.co.uk/business/exporting-from-uk/eecan-export-opportunities/kazakhstan-financial-outlook/

[penrith] 26/10/2023 15:57

Are we expecting any boat news?

[xclusive2] 26/10/2023 10:17

To add, if the news is positive on B8 wells and 142, the share price will rocket from here and that's why we stay invested. I am still here for the A Block opportunity as it's the biggest structure with the largest reserves if they can prove it up. A5 was the most significant result as we know with flowing oil for an extended period ie 15 days and shows that the oil is there but as always, can Shin do the business ? I'm not holding my breath but not long to find out.