Civitas Social Housing Share Discussion Threads

[spaceparallax] 06/12/2006 12:44

I agree with the general interpretation of the RNS i.e. a plus from well 119, perhaps helping to balance out the production hiccoughs arising from the other workovers.

However, well 121 does sound more promising - I'll eagerly await the results on that.

Overall, I presume that CSH are continuing in the right direction wrt to loss to profit, although we'll only really be able to gauge that when next we see some hard figures.

I'll continue to sit patiently and accumulate at these low prices.

[badabing] 06/12/2006 12:40

Enamel,

Well that's a shame because I was hoping you might be able to discuss some numbers if you have done your own research...seems like I was wrong about you.......good luck anyway and I am always be happy to talk any time...

[vavoom2] 06/12/2006 12:06

Yup more of the same.

Continuous work-overs to keep the wells plodding along.

Even new wells are requiring a prod or 2 to keep them going

Bad RNS.

The company is hiding the true picture concerning production rates.

[bello39] 06/12/2006 11:59

It seems csh are struggling yet again. Hope they can get that oil. Sounds as though there may be a decent amount.

RESULTS FOR WELLS 119 AND 121

Caspian Holdings Plc (AIM: CSH), the oil and gas production and exploration
Company in Kazakhstan, as a continuation of its 2006 Drilling Programme
announces positive results from wells 119 and 121 at its Zhengeldy oil field.

Well 119 was drilled and tested in October 2006 and produced oil flows during
November at an average of 30 barrels a day with a water cut of 10%.

The Company has received positive log results for its recently drilled Well 121
which reached the target depth of 340 metres on 2 December 2006. Analysis of the
open hole log results in Well 121 shows four oil bearing reservoirs between 210
and 316 metres. The combined Net Pay is 19.5 metres including two major oil
reservoirs of 9.4 metres between 261 and 276 meters and 7.1 metres between 223
metres and 235 meters. The oil bearing reservoirs have an average Oil Saturation
of 65% and average Porosity of 31%. Well 121 is being cased and the production
testing of this level will be conducted in December.

During September, October and November extensive workover operations were
conducted on eight wells, including a number of recently drilled wells, to
improve on overall performance in the field. The results of the workover
programme to date are varied. Well 102 has been brought into production and work
is continuing on well 103 following sanding problems in the pump. Delays have
been experienced as a result of workover rig availability and weather
conditions. Principal workover operations should now be completed by mid
December at which time the company will conduct a review of the performance of
the workover programme.

-Ends-

[enamel] 06/12/2006 11:52

BadaBing,

Many thanks for your kind words. As you are a regular poster, you are well aware of the answers to the questions that you pose, or ought to be, so why waste my time? Are you not content with wasting your own?

I shall not respond further.

[badabing] 06/12/2006 11:29

oh dear.....and those were such easy questions to answer as well.....you obviously know nothing and are simply gambling by having a punt on these....good luck...you'll need it

[enamel] 06/12/2006 11:28

BadaBing,

Just as I thought, you love wasting your time. Sobeit.

[badabing] 06/12/2006 10:58

Enamel,

I'll make it easy for you ok.....

Can you tell me:

1 The market cap of CSH

2 Annual Revenues were for 2005 and forecasts for 2006

3 Estimated Reserves

[badabing] 06/12/2006 10:55

To say what I think about them....it was still a free board the last time I looked or is this only for rampers?

[enamel] 06/12/2006 10:53

BadaBing,

if you don`t believe that CSH has a future why are you still here?

[enamel] 06/12/2006 10:51

Phillis,

Your bitterness shows. I cannot believe that you are a shareholder, so you would be doing yourself a favour by walking away and getting on with your life.

[badabing] 06/12/2006 10:50

and these workovers are never ending.....spoonfulls of oil being produced.....a small beer plc that should never have been floated and should have stayed private.......

[phillis] 06/12/2006 10:23

Enamel
Continuing failure to extract oil in meaningful quantities

[ok,yah] 06/12/2006 10:18

sugar coated poison pill - again....it looks like the company wont make a decent profit from this site

[enamel] 06/12/2006 10:17

Phillis,

I am looking forward, not backward. It is clear that production has been disrupted during makeovers. We already knew that, but if the end result is to enhance flow rates it is worth it.

[phillis] 06/12/2006 10:13

OH DEAR!!!

More bad news on output.
This RNS is corporate speak for "don't expect much in the way of production for the period September-December"

[enamel] 06/12/2006 10:06

Stefield,

The Daily Telegraph P/E`s are historic values. The projected P/E`s taken from Sharescope are:

Burren 9.12
Dana 15.36
Venture 9.26
JKX 11.14
TLW 13.63

I think that it would be difficult to argue that the differences could be put down to the size of proven reserves. The high PE for Dana must be due to the hope factor. The size of reserves is one factor, others are: risk, quality of management, future prospects, geographical location and production rates.

[1775] 06/12/2006 10:05

Just spoke to my broker and he believes there will be good news on the extension quite shortly. That should get things moving on the share price if it comes off.Topped up just in case.Hope its not another false dawn.At least I'm averaging down if nothing else.

[badabing] 06/12/2006 09:47

Just more of the same......low production volumes and never ending workovers affecting flows with mixed results......nothing has really changed has it?

[letthegoodtimesroll] 06/12/2006 09:37

RESULTS FOR WELLS 119 AND 121

Caspian Holdings Plc (AIM: CSH), the oil and gas production and exploration Company in Kazakhstan, as a continuation of its 2006 Drilling Programme announces positive results from wells 119 and 121 at its Zhengeldy oil field.

Well 119 was drilled and tested in October 2006 and produced oil flows during November at an average of 30 barrels a day with a water cut of 10%.

The Company has received positive log results for its recently drilled Well 121 which reached the target depth of 340 metres on 2 December 2006. Analysis of the open hole log results in Well 121 shows four oil bearing reservoirs between 210 and 316 metres. The combined Net Pay is 19.5 metres including two major oil reservoirs of 9.4 metres between 261 and 276 meters and 7.1 metres between 223 metres and 235 meters. The oil bearing reservoirs have an average Oil Saturation of 65% and average Porosity of 31%. Well 121 is being cased and the production testing of this level will be conducted in December.

During September, October and November extensive workover operations were conducted on eight wells, including a number of recently drilled wells, to improve on overall performance in the field. The results of the workover programme to date are varied. Well 102 has been brought into production and work is continuing on well 103 following sanding problems in the pump. Delays have been experienced as a result of workover rig availability and weather conditions. Principal workover operations should now be completed by mid December at which time the company will conduct a review of the performance of the workover programme.

[stefield] 04/12/2006 04:19

enamel
figures taken from D Telegraph 02 12 06
PE
Burren 10.0 (5.8)
Dana 15.4
Venture 33.7
JKX 21.1 (12.1)
Tullow 28.2 (23.2)

why is burren on a low pe ?
cos they have low reserves
its no good making millions of dollars each year if you then run out of reserves after a few years.

[enamel] 02/12/2006 15:12

Stelfield,

I agree that for E&P companies that are not producing, the amount of reserves (assets) is used to assess their underlying worth. However their capitalisation is often based on market sentiment and the view taken of the company`s prospects. Some companies without proven reserves are trading on unjustifiable high valuations (hope), while others which are producing, like CSH, may have low values. Market sentiment plays a big part.

When a company is producing at a rate which can be relied upon, the PE is used as a measure to assess the relative attractiveness of a share, based on its price and earnings. Look at the following PE`s:

RDSB 8.8 BP. 9.84 Bur 9.1 TlW 13.32 These companies are not ranked according to the size of their reserves although the latter will of course affect their market capitalisation.

CSH has suffered from poor sentiment. If sentiment was good its share price would be 2 to 3 times higher in my opinion. Knowing the size of the reserves would be helpful, although I think the main concern at present is to have confirmation that the daily production is increasing as more wells are brought on line.

[stefield] 02/12/2006 00:13

scsw
oil companies are valued on their reserves rather than on a pe ratio.
csh origionally claimed to have approx. 13m barrels but since admitted they would have to downgrade this considerably (possibly down to 4m). i dont think they have ever given us a new figure.
the next question is what price you put on each barrel of reserves. this varies widely between approx. $1 to $10 depending on location, sales price, tax, and ease of getting it out of the ground.
with wells that cant even reliably sustain 20bopd, i would not value it very highly.

[conart] 01/12/2006 20:25

Well 120 New Well.... Well 121 On the graph..........Samething / Sameone?