Caspian Sunrise Share Discussion Threads

[hallow] 25/6/2020 11:40

Caspian Sunrise now 9th on the faller's list

9 CASP Caspian Sunrise Plc 3.45 -16.36% -0.675


It doesn't get any worse / better than this.

[xclusive2] 25/6/2020 11:40

As with many LTHs here, i am heavily invested here and the reason i have stayed invested is the MJF was funding the operation pre Covid. If there wasn't Covid and oil was trading at the last 2 years average of $67, the operational status would be different, unfortunately there is Covid and it has changed the game in 2020.

Jam tomorrow, afraid so and their commentary isn't as bullish on A block wells and that is still a battle to be won but the immediate one is driving revenues up. The move from domestic to export trade has obviously stuffed them although that is now worked through and quite simply, if you can't sell your oil at market prices, you're going to take a hit.

Upside from here as opposed to selling and moving on ? That depends on oil prices and bringing on 151 and 152 and any of the deeps. If they drill 151 and 152 then we'll be 70000-80000 bopm, GA costs down, it's a profitable business with an asset called MJF that is expected to produce between 6&8k bopd. Personally that's why i stay invested, everything else has NIL value and i will eventually make a few quid unless CV2 hits then all of us will have far bigger issues to manage !

I've still got the hump on the barge costs as that $100k pm incurred and legal costs etc has put them under more pressure at a time where cash is king.

[hallow] 25/6/2020 11:11

I'm here forever Clive and won't be going anywhere so do your worst.

[hiddendepths] 25/6/2020 10:53

In essence the story has shifted from jam tomorrow to jam next year - maybe.

[roy1982] 25/6/2020 09:51

toggle
I had a dream 14 yrs ago but I wanted it to come true in this life not in the afterlife

[dhb368] 25/6/2020 09:48

Thanks Toggle. :)

[togglebrush] 25/6/2020 09:30

You have to have a dream
If you don't have a dream
How you're going to have a dream come true

[rutter] 25/6/2020 08:57

No indication of how deep they are Frilling at 151 ?funding has been sourced to continue frilling New Well 151

[spangle93] 25/6/2020 08:31

I think it's remarkable, unprecedented even, that they can produce half a million barrels of oil in 2019, and close to 700,000 in 2018, and yet the reserves don't change at all.

replacement ratio of 100% in every year - something BP and Shell struggle with

phew, there's an SPE paper in that good news story... or maybe not once the irony is stripped out

[maxim1999] 25/6/2020 08:27

This won't go much lower. Who owns it that has had it this long and will sell.Too low to short.Only option is to buy more. Everything is still on the table with the shallows and the deeps.Buy

[pendragon2] 25/6/2020 08:01

Having skim read the statement, it confirms that Caspian has been fairly well protected from the full impact of corona.

Investment and operational decisions are very much to the fore and most interesting are two points, as far as I can see.

The first - production costs are remarkable low.

Secondly the negative comments about AIM as a market for small oilers and moving offices from London and Amsterdam to UAE.

Could this be the precursor to a buy out of the relatively small number of shares held by PI's, then a delisting?

We've all seen media reports of Emirates out scouting for bargains worldwide.

[billybankrupt] 25/6/2020 07:45

The whole tone of message seems to have changed. Gone is the positive upbeat messaging.Having sat here for what seems a lifetime, and with no prospect of further updates for three long months, this is now a share on the back foot, destined for the bottom drawer.

[xclusive2] 25/6/2020 07:44

Just digested most of it. Oil prices are obviously damaging all producers and many will go under unless funding sourced. Having to sell to domestic markets at $10 barrel in May as they couldn’t sell at international prices is all down to Covid and unfortunately our Casper is in survival mode. All businesses will have to pass the ‘going concern’ test, i’m going through it now and I ran a very profitable business.

Caspian will ride this through providing oil export prices received and KO sits behind the company from a loan perspective.

They are fortunate that they have production cash flow and hopefully Crude prices stay at current levels or increase as global demand picks up. The worst of the cash flow squeeze is probably over and personally i want them to manage costs rather than take risks to produce more oil that can’t be sold profitably.

I hated the CE deal as that’s added 1.2m of debt and no contracts unsurprisingly !

Not much to say about operational progress as they are on stop until cash receipts increase and moving from advance payments to 60 days for international sales has obviously hurt.

Without MJF, Casper goes to market to raise cash, that only happens if oil price crashes or Kuat pulls the loan but we’ve know that for years.

Not inspiring but at least we know where we are.

[bloomberg2] 25/6/2020 07:39

Carnage in oil market was bound to have an effect on Casp numbers !! Christmas only few months away!! Relax Casponians santer May bring A5 joy ?

[bsg] 25/6/2020 07:29

14% decline.

[rutter] 25/6/2020 07:27

Have skipped through. And am trying to find just one single morsel of comfort from a pile of waffle

[bloomberg2] 25/6/2020 07:26

Oh well !! RNS out ... not very inspiring statement

[togglebrush] 25/6/2020 07:25

25th Jun 2020 Final Results for 2019 are out
'
80 pages 32,241 words by my count

[bloomberg2] 25/6/2020 06:46

Morning casponians !! hoping for RNS this morning?

[konil] 25/6/2020 04:55

cc needs to go and a truthteller appointed.

[dhb368] 25/6/2020 00:53

As you say CRST are just the first to need a write down. If I recall TW raised money recently partly to take advantage of low land value so by rights should also be taking a hit.CC does owe us a good one. Perhaps it will arrive one day.