Caspian Sunrise Share Discussion Threads

[bullinachinashop3] 06/6/2018 15:14

highest price paid for a month, update tomoz?

[bullinachinashop3] 06/6/2018 12:29

75k 10.20p at full ask, looking good for a Thursday update on 801?

[bullinachinashop3] 06/6/2018 09:41

10p paid having said that, looks ready for a run perhaps? pretty fierce double bottom on the chart being created

[bullinachinashop3] 06/6/2018 09:40

thanks for the reminder toggle, in Holborn so i might try and get along.

[togglebrush] 06/6/2018 09:24

Early Warning
'
The Company's AGM will be held at the offices of Fladgate LLP, 16 Great Queen Street, London WC2B 5DG, at 3:00pm on Tuesday 19 June 2018.
'
IMHO...I would half expect an RNS in the Week or so before to sweeten the atmosphere for the AGM

[xclusive2] 06/6/2018 08:10

Unfortunately I sense that Carverspeak will continue until they change the speaker. Dull as dishwater at a time whereby it should be 'special'.

[roy1982] 05/6/2018 17:27

could be because of "carverspeak" the man has no credibility therefore the company has no credibility until the deeps produce.

[bad gateway] 04/6/2018 18:51

Maybe the market hasn't twigged yet that casings been set on the sidetrack. Seems quite a positive to have that one done already thanks for the note Toggle.

[hallow] 04/6/2018 16:47

Well that was an exciting day.

[bullinachinashop3] 04/6/2018 10:42

He says that most days! lol

[hallow] 04/6/2018 10:41

From Flawless on LSE

Should be a really good week this week, with any luck! Fingers crossed for all invested!

[hiddendepths] 01/6/2018 14:33

Oy, I haven't bought back yet! Some bottom feeders jumping the gun!

[xclusive2] 01/6/2018 11:08

Bottom feeders taking advantage

[xclusive2] 01/6/2018 09:21

Market obviously don't believe that Casper can deliver and reacting accordingly. Initial announcement at A5 saw all the hype to 25p, unfortunately the market has now got wide to the constant disappointment. The share price should be flying with the anticipation of 3 deep wells and a successful shallow program but their credibility is obviously holding them back. Maybe another rebranding exercise that's more fitting, Caspian Sunset !!!Not saying it's easy but a discovery isn't a discovery until it's commercial and I'm not sure if these boys can bring it home. Tick,tock

[xclusive2] 31/5/2018 23:45

Buzzz,That's an understatement and he will continue to utter fluent BS. His time must be coming to an end.S

[hiddendepths] 31/5/2018 16:17

Yes smarty, could probably get 7 points of the 10 I was looking for already!

I guess it's quite useful having buyers lying in wait when the price drops! Might stop a fall turning into a rout!

[xclusive2] 31/5/2018 15:44

Yep, peeps are being squeezed. I was premature with my buy back spree. Probably dropping through the DMA levels and triggering sell activity. HD,Looks like you get your trading opp !

[control1] 31/5/2018 14:33

Ok, who's bumping these out then....

[buzzzzzzzz] 31/5/2018 13:24

Spangle for the avoidance of doubt Clive Carver does NOT know what he is talking about!!!!

[xclusive2] 31/5/2018 08:18

Spangle,Thanks for the comprehensive update as always.

[spangle93] 30/5/2018 23:18

Thanks Togglebrush - sounds like the Nomad thinks the casing is run across the reservoir, so hopefully they are correct.

Xclusive2 - My punt, FWIW, is that in the first well you'd go lower to ensure you're not missing any potential payzones. Also IIRC (not going back to check, so this is speculation) some of the early wells were drilled on a turnkey basis, so it might have been a fixed price for a fixed depth.

In the redrill, you'd know the characteristics of the lowest interval from the first well e.g. from drill cuttings, so once you'd got through this zone, you only have to drill on far enough to create a sump for logging tools (if required) and enough space to land the casing.

As for 4 zones and not 5 [Blimey, just spent 15 minutes going back through documents to try to recall whether this is sandstone or carbonate - nothing, just "oil zones, Devonian, high pressure, no H2S (yet)". I'm sure readers here know, but they don't make it easy if you've forgotten. The website still says the licence expires in July, so it's not the world's greatest reference] you judge pay based on a wiggly log line as a tool or sonde is pulled up a well (or the equivalent on drill pipe). The log is created by direct measurement (e.g. gamma rays) or more commonly indirect meansurement of the formation by its response to electric, sound, neutrons, or other stimulant. So there are error sources due to smearing as the tool is pulled up, and in interpreting the response.

Anyway, where I'm going with this is that typically they set a series of thresholds for the logs, e.g. 8% porosity. Anything above is pay, anything below isn't.

It would be great if the world was full of thick clean sand interbedded with dense shale, so logs are like steps, but in reality many formations because of their genesis and subsequently modification are shades of grey, particularly in deeper zone. Platform carbonates have the addition complication that they aren't as stratified as regular reservoir, so if this is Tengiz-equivalent carbonate, the pay may be related to pockets of better quality (perhaps that's why they emphasise continuity)

I'm not sure I've come to any conclusion - hard to, given the crumbs we're offered - but the long, late ramble might offer some idea

[xclusive2] 30/5/2018 16:04

It's a funny ole game and MM's playing around in a thin market. Can buy 200k max @ 9.78 and sell 100k max @ 9.15p, 9p unquoted at market best for anything more ? Obviously market not enamoured with latest update ?

Looking back at the initial discovery in 2015 compared to 2018 announcement. Extra 21m of payzone over 4 not 5 intervals ? Any geologist want to comment on how/why ? and also why we stopped @ 4851m ?

2015

As previously reported core samples and logging have revealed a potentially oil bearing interval starting from 4,536 meters and extending 100 meters. The pressure and temperatures encountered indicate this well is unlikely to be connected to the reservoir targeted by Deep Well A5. Therefore should Deep Well 801 prove commercially viable it would be a separate discovery to the potential discovery previously announced in connection with Deep Well A5.

The well has been drilled to a total depth of 5,050 meters and five potential levels for production have been identified below the salt layer. Since the previous update the deepest two of these levels have been perforated (from 4,896 - 4,910 meters and from 4,822 to 4,842 meters) although the excess drilling fluid in the intervals perforated has resulted in a new blockage.

Oil tubing to a depth of 4,752 (above the stuck level) has been removed and an interval between 4,704 and 4,726 meters of the casing has been perforated to assess oil flows. Once the outcome of this 20 meter perforation test has been determined work to clear the excess drilling fluids and unblock the well will resume

2018

Four potentially oil bearing intervals have been identified during drilling and supported by mud log data. The first of 6 meters between 4,535 and 4,541 meters; the second is of 20 meters between 4,554 and 4,694 meters; the third is of 59 meters meters between 4,635 and 4,694 and the fourth is of 36 meters between 4,812 and 4,848 meters.

[togglebrush] 30/5/2018 10:50

WHI note published by Yellow Jersey on another BB
'
Caspian Sunrise (CASP) £ Corporate Operational and Acquisition Update
Market Cap £168m Price 10.1p
'
Caspian Sunrise announced yesterday that it successfully drilled the Deep Well 801 sidetrack to a depth of 4,851m and that casing was set to the full depth of the well. The company indicated that the well intersected a combined 121 meters of net pay over 4 intervals and that pressure within the well remains high, suggesting that there is good connectivity with the reservoir after a lighter drilling fluid was used relative to prior drilling operations.
'
The company also indicated that further to the announcement of 31 January 2018, the company confirmed the execution of an SPA for the purchase of the entirety of 3A Best Group JSC (£3A Best) for a consideration of $24m to be satisfied by the issue of 149.3m shares at an issue price of 12p/share.

The transaction remains dependent on a number of conditions, including the issuance of a new licence. 3A Best owns a contract area of 1,347 square kilometres in the Mangystau Province of Kazakhstan. The contract area is adjacent to and runs under the commercially successful Dunga field, which is operated by Maersk. The company believes that geological characteristics of the Dunga field are also present within the acreage of 3A Best. The licence area being acquired benefits from 490 square km of 3D seismic and 1,327 km of linear 2D seismic data. C2 reserves using the Soviet system of classification amount to approximately 26.8m barrels of oil.
'
In our opinion, we are encouraged that casing has been set to the bottom of the Deep Well 801 sidetrack, which has not been possible for all the company£s wells due to the over pressured drilling conditions.
'
The Deep Well A5 sidetrack for example was not cased to TD, which we believe was the cause of the operational challenges, which the company will attempt to remediate in due course, that emerged following a very impressive initial production rate of circa 3,500 b/d (announced 23 Oct 2017).

Therefore the operational developments at the Deep Well 801 suggest that is possible that this sidetrack will benefit from both the use of lighter drilling fluid (more productivity) and successful casing (better well control) over the productive zones. The Deep Well 801 sidetrack is testing the Deep Yelemes target, which we estimate, if successful, would recover circa 12.0 mb of oil (WHI base case would have full success value of circa 3.2p/sh), with additional upside of circa 29.1mb or oil (WHI upside case would have a value uplift of an additional 6.7p/sh). Most importantly success would serve as a play opener for the entirety of the company's deep assets (full combined upside case of circa 200mb based on WHI estimates) by proving the company has cracked the technical challenges to exploit its deep (sub-salt) resource base.
'
Our fair value estimate remains under review pending definitive results from either of the company.

[xclusive2] 30/5/2018 08:48

O/T,Watching JAY to see how it goes over next couple of weeks and may take a position mid June. The fundraiser scaremongering forcing a company statement ? Need to do a bit more research first (-: