Caspian Sunrise Share Discussion Threads

[the new norm] 04/12/2024 06:59

IM

Cautiously optimistic we will get an update from CC before year end

He needs to deliver on his ultra positive comments from 15th July 2024 ;-)

[imjustdandy] 04/12/2024 05:33

Think CC struggling here

[the new norm] 03/12/2024 15:39

Offer jumped to 3.28p if you want to buy >350k

News coming? ;-)

Or MM playing games?

[the new norm] 03/12/2024 13:19

Thanks X2

In an economic environment which is encountering a significant devaluation of their currency its probably beneficial to CASP to collect and hold USD in their bank account.

I presume they pay labour costs in Tenge after converting some of their USDs. Should result in a small improvement in profit margins, although accept things are on a pause at moment so these costs will be at historic low in any event.

Not sure why they want the Shallow sale proceeds paid in Tenge, maybe a Kaz gov requirement linked to kaz asset sales. Hopefully they can convert back to USD ASAP as the recent decline in KZT doesn't look like it's going to stop anytime soon.

[xclusive2] 03/12/2024 08:18

As far as I'm aware it's all $

[the new norm] 02/12/2024 15:21

Interims disclosed we are achieving $36 pob on local sales

Does anyone know if we get USD into the bank account or KZT equivalent?

[xclusive2] 02/12/2024 14:02

No not necessarily and shows that everyone drills dry holes. Actually Casper hasn't to date, just very muddy ones !! 100% for barge sale if fortunate enough to bin it.

[the new norm] 02/12/2024 12:12

X2

I'd be surprised if ENI/KMG consortium bin ABAY after one dry well. They have allocated north of $300m for developing this block so would expect them to want to drill another well in short order to prove the seismic analysis findings of a huge oil reservior in this location

Agree with idea of selling CE for top dollar, it's too big an asset for CASP balance sheet and would sit much better on KMG and thus protecting what is deemed a Kaz national treasure ;-)

[konil] 02/12/2024 11:50

yeah, time for lth's to start getting some reward. of course that counts for little but if ko decides its time he wants some, it could be large.

[xclusive2] 02/12/2024 07:55

https://www.upstreamonline.com/exploration/eni-kazakh-joint-venture-hits-dry-well-in-caspian-report/2-1-1732975?zephr_sso_ott=BYqkmLThe question will be whether there's appetite for continued investment in the N Caspian or not. Casper stating that project completed on 24/9, that's far more than the 45 days or so from AGM . They believe that the successful operation of the well by the CE has increased its value BUT that's only if there's demand for its services. Financially it has not made a huge profit since its purchase in 2020. Annual cost for maintenance, mooring etc is c $1m and there's the cost to ready the barge for projects like the recent one. As stated, I'd prefer that they sold it for the $60m or so they believe it's worth and reward investors with a large special divi :)

[the new norm] 01/12/2024 10:36

So the first well drilled at Abay 1 was dry!

The positives for CASP is the CE worked extremely well and achieved TD quicker than expected

Confirms we have an asset that can drill successfully for global players

Will ENI want to bring forward second drill option to 2025?

Current value of CE in FY23 is only $2m

Must be scope for a big revaluation of asset in FY24 if it suits KO Family exit strategy?

[the new norm] 29/11/2024 10:26

USD v KZT

May 24 430

Today 515

+ 20%

Structuring Shallows sale at a headline USD price but payable in local currency looking like a very shrewd move by CASP

As always assuming the sale completes ;-)

[the new norm] 28/11/2024 14:41

Mr Carver, with the greatest respect, you really next to give the pies a rest and call your plumbing expert about the dodgy tap with the persistent drip! Maybe a bit of CPR will do the trick;-)

[bluemango] 27/11/2024 14:46

Thanks 👍

Imagine what your typing will be like after the G&Ts

[xclusive2] 27/11/2024 14:40

Pronto Serra :)

[bluemango] 27/11/2024 14:33

Sorry X2 can you translate 'Don to be funded' thanks

[xclusive2] 27/11/2024 14:29

Just landed in the Canaries. I've realised that after 40 years of hard graft, the British winter weather not for moi ! Casper is at the wrong price. Don to be funded to exploit the asset base but as all LTHs know, needs success with the drill bit.Off for the first G&T ;)

[the new norm] 27/11/2024 11:54

X2

With everything on pause, with the exception of 815 acid treatment and the cost of moving rigs to B8 and WS, CASP monthly outgoings must be hitting an all time low

Recent RNS confirmed daily production at 1600 bopd

Still a decent flow rate for our oil trading company to earn extra profit on

Positive net monthly cashflow north of $1.5m

The longer it takes for AR to complete deal the better for CASP

Another 4 months buys time to get the two existing wells flowing again at B8 and with a bit of luck we get first well drilled at WS to flow. Could be sufficient flow to replace the Shallows 1600 bopd at start of Q2 25

This would be a brilliant outcome for CASP with north of $75m cash in the bank account.

$1.5m monthly income from oil production and $1m monthly deposit interest income and the historic costs $3.2m pa liability extinguished

Whats not to like with that outcome?

BNG Deeps and B8 second structure still to play with and CE to hire or sell

End of H1 25 can't come soon enough ;-)

[xclusive2] 26/11/2024 17:20

It took a fair while to get the SPA signed and that was the key to getting deal over the line. Yes there are conditions and AR need to secure financing but I can't believe they'd have paid $14m and signed the SPA if completion wasn't going to happen. As per CC's imminently, I believe it's not too far away but in the interim, Casper are benefitting from oil revenues and the deposit interest.

[the new norm] 26/11/2024 11:53

Who were the parties connected to the Caspian Explorer hire?

ENI and ......

Who now owns the huge Dunga oil field?

......

3A Best own the subsoil rights below Dunga

Lots of dots to join up for CASP ;-)

[the new norm] 26/11/2024 11:33

Im

AR need to satisfy the gangster bankers so that could be the deal breaking CP

Those blood sucking parasites always move the goal posts at one minute to midnight, to extract additional fees!

Hopefully the $2m paid by AR is non returnable

I still think deal will go through probably by year end. AR are already in a JV with KMG operating a similar sized Kaz oil field. KMG are best mates with Kaz Gov and have huge influence ;-)

[imjustdandy] 26/11/2024 07:27

Pre conditions must be a big issue. Carver gonna get hit here at the end if he can't purify.

[the new norm] 25/11/2024 14:24

George bring your coffee cups into the open, you have been hiding in the shadows for too long, mate ;-)

[action] 25/11/2024 14:16

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