Caspian Sunrise Share Discussion Threads

[xclusive2] 14/5/2024 10:35

Simon,Yes it is the licence commitment cost and if sale goes through, net proceeds will be c £55m not $. Et al,What's next ? They've stated that that their skill set is not best suited to managing a maturing field so what is their skill set ? If it's not on the easier shallows then it's certainly not on the deeps so I can see them being on the menu following the shallow sale completion. If they do sell BNG deeps then a CPR is on its way and obviously value will be dependant on whether an A block or NY block well flows. Are they going to partner with somebody to bring them home ? What about Block 8 ? They'd probably sell that too for the right price or do they keep that along with WS and add more assets from any BNG disposal ? Then there's the CE. Continue to charter, sell it or use it to get involved on a free carry basis for a smaller % of offshore drilling projects with the big boys ?Then there's their drilling services business, they'll probably add more rigs and farm in to other projects or build revenues through rental route.Next ? more acquisitions and not all in the OE field. I can see mining and wind landing from the Oraziman portfolio of assets.Also our Shin. He's connected to KNOC and I can see more asset acquisitions from their disposals. Still all to play for snd serious money to be made.

[simonatwork] 14/5/2024 10:09

Hi Spangle,

I'm sure you're right that it is the balance of the 10 year social costs which become the liabilty of the purchaser hence are deducted from the sale price.

The fact that these are expected to decrease in the next year from $17m to circa £15m suggests its the reducing outstanding amount.

I'm not sure whether to be encouraged by their expectation of oil production from block 8 and West Shalva this year or to be cynical that they are extracting over $50m cash from a declining asset while they can.

It would have been interesting to know how the horizontal drilling and Block 8 drill results had gone. Hard to assess value without this information.

One positive is that when the annual accounts come out they will have to give us a lot more detail of what has been going on.

Still travelling hopefully,

Simon

[bluemango] 14/5/2024 09:11

I'm sure Adrianz won't mind me copying this from him:

Property Developer Business Model. Today 09:00

Makes sense. Buy assets on the cheap, develop them and then sell. Use the profit to get higher margin assets.

Pretty sure they have A5 flowing.

KC Explorer will bring in more than what MJF was producing.

[bluemango] 14/5/2024 09:03

A move and sale price that both make sense; finally we have some certainty on something, and hopefully the early spike has helped exhaust our recent pesky seller. Onwards and upwards ...

[maxim1999] 14/5/2024 08:46

Maybe it goes minus ?

[panamajimbo1] 14/5/2024 08:45

Hahaha, do you even have any shares to sell,

[spangle93] 14/5/2024 08:42

Sorry, my post 22970 seems to have landed in the midst of the shrubbery

Anyone have any ideas?

[bsg] 14/5/2024 08:41

We seem to have attracted a shrub!

[crazyworld2] 14/5/2024 08:41

Another 271k dump

[xclusive2] 14/5/2024 08:38

....lol. Fill yer boots before it's too late.This will settle down today as peeps realise what's coming next.

[crazyworld2] 14/5/2024 08:36

They want sub 2p

[crazyworld2] 14/5/2024 08:36

Shorts have increased

[crazyworld2] 14/5/2024 08:29

No one cares dumping is crazy and no buying

[crazyworld2] 14/5/2024 08:29

Get out while I can

[spangle93] 14/5/2024 08:28

What are folks' interpretation of the paragraph on historic costs.

If anything, transactions often contain a clause where buyers contribute towards past costs, though it's more commonly for farm ins to exploration assets.

Here it reads like the amount paid will drop from $83MM to $68MM because of historic costs.

Is this related to (originally $32MM) tax due assessed by the state

[crazyworld2] 14/5/2024 08:28

This is going to 1p

[crazyworld2] 14/5/2024 08:28

Total collapse

[crazyworld2] 14/5/2024 08:24

Where are the buyers They are hardly any no buys since 20 minsThis is a disaster

[bsg] 14/5/2024 08:20

Maybe they'll pay a large divi on the sale.

[maxim1999] 14/5/2024 08:17

Great trade. It's not going to zero as they have $80 m of cash , the boat, production and a lot of deep acreage. Share price is going up in the medium term. You are either a buyer lower down or about to get smoked.