Civitas Social Housing Share Discussion Threads

[hitchinhoncho] 05/6/2007 21:30

This share could be worth a Phd in investing sentiment- certainly not much more.From the rip-roaring ramping days of GeoffCapes and the Tonester, in the heady 50ps, to today's sorry state of harsh reality.My holding is worth a few hundred - from a few thousand - but I will keep it as a reminder of my misguided venture into momentum "investing." RIP.

[domtheone] 05/6/2007 13:05

lol @ 26658.

Have to agree. If I had children and watched then lie/decieve/steal off all and sundry, i'd be totally disgusted.

Oil exports were to be re-commenced in May, then June, now 3rd Quarter.

Again, more blatant lies by MM.

markinthepark - 4 Jun'07 - 14:38 - 26655 of 26659
Yet another Masterman classic then.....oops and sorry but we had a lousy year last year but next year should be ok.....how many times is that now?


If we had any credible Institutional investors then shirley they would have done something about MM by now. Alas, we don't.

Seems CSH has been left by one and all to die a slow death.

Wind the company up. Sell off everything. Return the few pence to Shareholders and chuck MM down the deepest well.

This is shirley the best option available to all.

[stefield] 05/6/2007 07:23

even if they could get it, why would the extension area be any better than the existing one ?

[sukell] 04/6/2007 19:09

agreed. Just revel in the fact that mastermans credibility is shot to bits.I bet even his mom & dad despise the c*nt.

[markinthepark] 04/6/2007 16:48

It's pretty much been like this for some time now.....I think most people sussed out that the existing fields were uneconomic to drill and maintain at the kind of poor production rates being achieved....expansion still seems a pipe dream here so the company is stuck with nowhere to go and ever increasing admin costs that dwarf their sales and cost of sales....hard to see this share doing anything for PIs but costing them capital as the price erodes further over the next 12 months......4p could be optimistic

[markinthepark] 04/6/2007 14:38

Yet another Masterman classic then.....oops and sorry but we had a lousy year last year but next year should be ok.....how many times is that now?

[btut] 03/6/2007 22:09

nothing like a little susspense to keep the mind ticking over!!! fingers crossed for a positive outcome tomorrow ehh.

[n1ckb] 03/6/2007 12:43

why issue the results after the market closes on a friday afternoon???!!!
make your own mind up!!!

[standby66] 03/6/2007 12:39

any interpretation of this RNS???
are we doomed to go further down, or is this going to be a winner???

[conart] 01/6/2007 18:03

.RNS Number:6706X
Caspian Holdings plc
01 June 2007

1 June 2007

CASPIAN HOLDINGS PLC
("Caspian" or "The Company")

Preliminary Results for the year to 31 December 2006


Caspian Holdings Plc (AIM:CSH) the London-based AIM-quoted Company whose primary
activity is the exploration, development and operation of oil fields in the
countries around the Caspian Sea, and in particular Kazakhstan, announces its
preliminary results for the year ended 31 December 2006.


Highlights


* Revenue increased 373% to #1.5million (2005: #318,578)
* Nine new wells drilled
* Commencement of export sales

Post year end highlights

* Drawdown of an unsecured credit facility from investors & shareholders
raising #650,000

* New team established to focus on project generation and acquisitions


Commenting on the results, Michael Masterman, Executive Chairman, said:
"Although 2006 has proved to be a mixed and challenging year for the company,
our aim is to continue to improve our results throughout 2007 and focus our
energy into pursuing new project generation and acquisition. We look forward to
a positive outcome."



- Ends -



Chairman's Statement and Financial Statements follow. A full version of these
accounts is available on the Company's website www.caspianoil.co.uk



For further information, please contact:

Caspian Holdings Plc Hoodless Brennan Parkgreen Communications

Michael Masterman Luke Cairns Justine Howarth/Clare Irvine

T: [phone] T: [phone] T: [phone]





CHAIRMAN'S STATEMENT

2006 has proved to be a mixed year for Caspian Holdings Plc.

Revenue for the year increased 373% to #1.5 million reflecting the switch to
export sales, improved production and high oil prices. To support exports a new
export facility is under construction at Karsak and key export contracts are in
place with KazTransOil and KazMunayGaz. Exports continued into 2007 with a
temporary suspension during the second quarter in order to meet domestic sales
quotas and other regulatory requirements and is expected to recommence in the
third quarter.

On an operational front, extensive activity was conducted on the Zhengeldy field
with nine new wells drilled (101, 102, 103, 105, 104, 109, 118, 119 and 121) and
extensive workovers conducted on a further seven wells (114, 112, 115, 101, 113,
102, 103). Five of the new wells drilled (121, 119, 105,102 and 103) returned
good log results and commercial production. Log and test results from the other
new wells were poor and production has been marginal. The workover program,
while producing some initially positive results, has overall been disappointing,
as a result of difficulties with cementation in the early wells. Well
completion including cementation has been greatly improved in recent wells.

Following extensive review, it is clear to the Board that while Zhengeldy
retains commercial potential, this potential can best be pursued after an
expansion of the licence area. While the results of the 2006 drilling program
have been mixed and have not resulted in a sustained increase in production, the
company has been able to successfully drill, at low cost, a number of wells (for
example 121 and 119) with 20 meter pay zones, good completion and good
production. The company now has a very clear view of the geological,
operational and economic model necessary for success. Further development
however requires an expansion of the licence area.

The Zhengeldy licence expansion has been a frustrating exercise with delays
caused by a number of changes in ownership of the surrounding exploration
licence during the year. There is now ownership stability of the adjacent
licence and this stability provides a basis for the company to seek to reach
commercial agreement during the balance of 2007.

The Company has taken the decision to focus it's energy and resources in
pursuing new project generation and acquisition. A dedicated project team has
been established and the company is actively pursuing oil and gas projects in
the former Soviet Union and other leading oil provinces.

The Company strengthened it's balance sheet in April 2007 with an unsecured
credit facility agreement to raise up to #1 million from investors and major
shareholders. #650,000 of this facility has been drawn. This loan is a short
term facility to fund working capital requirement of the Taraz operations, and
new project acquisition activities at the Caspian level. It is intended that the
facility is replaced with more permanent funding arrangements upon the extension
of the Zhengeldy licence area or execution of a new project acquisition.

The 2006 year financials attached to this report show revenue growing
substantially as a result of improved production to 2005 and export sales with
revenue of #1,508,015 (2005: #318,578). As a result of the mixed performance of
the Zhengeldy oil field, the Company has considered the recoverability of it's
investment in the fixed assets of Taraz related to drilling activities and has
decided to write-off #606,177 against the carry value of wells for 2006 and to
write off the goodwill on acquisition of Taraz of #980,987. After accounting for
these writedowns the loss after taxation for the 2006 financial year of
#3,412,588 (2005: #1,183,876 loss).

Following the year end of the Company, a significant focus at Zhengeldy has been
to push the operation to sustainable profitability. Significant progress toward
this objective has been made reducing and consolidating the cost structure.
Further progress towards this objective will be made with the expected
recommencement of export sales in the third quarter of 2007.

In closing I would like to thank the management, in particular Igor Borisov,
Dietmar Greil, and Dom Del Borrello for their efforts in dealing with difficult
operating conditions. I would also like to thank the non executive Directors
who have strongly supported the company throughout this challenging period, and
we look forward to positive results in the year ahead.




CASPIAN HOLDINGS Plc
GROUP INCOME STATEMENT
FOR THE YEAR ENDED 31 DECEMBER 2006

2006 2005

REVENUE 1,508,015 318,578

Cost of sales (936,578) (428,497)


GROSS PROFIT/(LOSS) 571,437 (109,919)

Administrative expenses (3,289,610) (1,299,637)


OPERATING LOSS (2,718,173) (1,409,556)

Exchange (losses)/gains in year (595,594) 161,658
Adjustment in fair values of fixed assets (52,864) -
Provisions created in period (88,795) -

Finance income 57,648 82,788
Finance costs (14,810) (18,766)



LOSS BEFORE TAX (3,412,588) (1,183,876)


Tax - -


RETAINED LOSS FOR THE
FINANCIAL YEAR #(3,412,588) #(1,183,876)


Basic and diluted loss per share 3.6p 1.4p




CASPIAN HOLDINGS Plc
GROUP BALANCE SHEET
31 DECEMBER 2006

2006 2005
ASSETS
NON-CURRENT ASSETS
Goodwill 326,998 1,307,985
Intangible assets 528,327 662,146
Property, plant and equipment 3,196,870 2,135,393

4,052,145 4,105,524


CURRENT ASSETS
Inventories 296,268 16,349
Trade and other receivables 767,890 425,168
Cash and cash equivalents 200,652 477,747

1,264,810 919,264
LIABILITIES
CURRENT LIABILITIES
Trade and other payables 519,797 330,705
Financial liabilities - borrowings
Interest bearing loans and borrowings 1,753 6,423
Provisions 108,186 29,859

629,736 366,987


NET CURRENT ASSETS 635,074 552,277

NON CURRENT LIABILITIES
Trade and other payables 98,728 117,870
Financial liabilities - borrowings
Interest bearing loans and borrowings - 8,524

98,728 126,394


NET ASSETS #4,588,541 #4,531,407


SHAREHOLDERS EQUITY
Called up share capital 98,699 84,492
Share premium account 9,474,645 6,227,445
Revaluation reserve 24,945 -
Translation reserve 183,370 -
Profit and loss account (5,193,118) (1,780,530)

TOTAL EQUITY #4,588,541 #4,531,407





CASPIAN HOLDINGS Plc
COMPANY BALANCE SHEET
31 DECEMBER 2006

2006 2005

ASSETS
NON CURRENT ASSETS
Investments 1,145,146 1,145,146


CURRENT ASSETS
Trade and other receivables 7,023,985 4,196,774
Cash and cash equivalents 106,964 453,677

7,130,949 4,650,451

LIABILITIES
CURRENT LIABILITIES
Trade and other payables 120,336 35,382


NET CURRENT ASSETS 7,010,613 4,615,069


NET ASSETS #8,155,759 #5,760,215


SHAREHOLDERS' EQUITY
Called up share capital 98,699 84,492
Share premium account 9,474,645 6,227,445
Profit and loss account (1,417,585) (551,722)


TOTAL EQUITY #8,155,759 #5,760,215







CASPIAN HOLDINGS Plc
GROUP CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 DECEMBER 2006
2006 2005

Cash flows from operating activities
Cash generated from operations (1,232,898) (1,059,797)
Finance cost (14,810) (18,766)


Net cash from operating activities (1,247,708) (1,078,563)

Cash flows from investing activities
Proceeds from disposal of fixed assets 1,345 -
Purchase of intangible fixed assets (312,123) (188,430)
Purchase of tangible fixed assets (2,024,468) (1,571,392)
Finance income 57,648 82,788


Net cash from investing activities (2,277,598) (1,677,034)


Cash flows from financing activities
Share issue 3,261,407 140,300
Repayment of financial liabilities - borrowings
Interest bearing loans and borrowings (13,196) (7,541)


Net cash from financing activities 3,248,211 132,759


(Decrease)/Increase in cash and cash equivalents (277,095) (2,622,838)


Cash and cash equivalents at beginning of year 477,747 3,100,585


Cash and cash equivalents at end of year #200,652 #477,747






CASPIAN HOLDINGS Plc
NOTES TO THE GROUP CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 DECEMBER 2006


1. RECONCILIATION OF OPERATING LOSS TO NET CASH OUTFLOW FROM OPERATING ACTIVITIES

2006 2005

Operating loss (2,718,173) (1,409,556)
Exchange gains/(losses) in period (648,986) 161,658
Translation adjustments 183,370 (63,202)
Translation adjustments relating to fixed assets 215,294 125,258
Loss on disposal of tangible assets 738 -
Depreciation charges 604,513 143,210
Impairment losses 1,587,164 -
(Increase)/decrease in inventories (279,919) 56,120
(Increase) in trade and other receivables (342,722) (122,665)
Increase/(decrease) in trade and other payables 169,951 23,618
(Decrease)/increase in other provisions (4,128) 25,762
Net cash outflow
from operating activities #(1,232,898) #(1,059,797)



2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the cash flow in respect of cash and cash equivalents
are in respect of these balance sheet amounts.


Year ended 31 December 2006 31.12.06 01.01.06

Cash and cash equivalents #200,652 #477,747

Year ended 31 December 2005 31.12.05 01.01.05

Cash and cash equivalents #477,747 #3,100,585













This information is provided by RNS
The company news service from the London Stock Exchange

END

FR EAKKFEDKXEFE

[wstirrup] 31/5/2007 19:41

So glad I topped up when I did..:¬))

W.

[multibaggers r us] 29/5/2007 14:55

The share price will rise over the next few months imo because of market conditions and new from csh regarding resumption of exports, new wells, possible extension. we could see 20p+ later this year...

[shornlamb] 29/5/2007 14:44

btut might have the inside line on this he's got a lot of info fromm MM
he says that he will have to start exporting soon cos his bath is nearly overflowing

[sukell] 29/5/2007 11:42

a micro tick-up. LOL, so what the hell is 125,000 x 0.38p? I know. A fish 'n' chip supper with maybe change for a bottle of Bud.

Guess we should me grateful for small mercies. In this case, miniscule small mercies. I was hoping for 15p. Guess I got that one well wrong.

Bovvered?

[m55doc] 29/5/2007 10:28

WOW spooky that .... you sound just like jeff capes , hehe.
MM did get it right, 5000000 shares @ 4p ... robbin tw*t

[btut] 29/5/2007 06:47

I belive they have been holding back for the price rise.This imo is going to motor within the next couple of weeks.MM has had plenty of time to get things right.

[tommo41] 27/5/2007 11:45

WStirrup,

I believe it's meant to be pretty good quality. Trouble is, they extract it in pitiful amounts.

[wstirrup] 26/5/2007 12:40

...and the reason for the share price rise in recent days is???

Brent Oil at $70pb, WTI at around $64/65pb.

I guess the oil price we receive on the markets will depend on the quality and the amount of Sulphur in it?

Anyone done any ground work on Oil quality for our Zengheldy field?

W.

[alioshka] 25/5/2007 15:40

This RNS might shed some light on how they're trying to deal with the situation:

RNS Number:3972V
Caspian Holdings plc
24 April 2007


Caspian Holdings Plc
("Caspian" or the "Company")

24 April 2007

Credit Facility Agreement

Caspian Holdings announces that it has concluded an unsecured credit facility
agreement to raise up to £1,000,000 at a rate of 4% over LIBOR from investors
and major shareholders.

The credit facility will be drawn down in two tranches:

(i) the first tranche of £700,000 will be drawn down on 24 April 2007; and

(ii) the second tranche, available at the sole discretion of Caspian and for
any sum up to the outstanding balance of the credit facility limit after
the first drawdown, will be drawn down within 6 months of the date
of the first drawdown. This second tranche is at this date uncommitted.

Participating investors have been granted 25 options over ordinary shares in the
Company for every £1.00 invested in the facility as a commitment fee The options
have an exercise price of 4 pence and expire on 31 December 2010.

The loan is a short term facility to fund working capital and new project
acquisition activities. It is intended that the facility is replaced with more
permanent finance in the future following either the extension of the Zengeldy
licence area and/or new project acquisition. The loan will be repaid in full on
the earlier of an equity raising or at maturity on 11 April 2009. Major
shareholders including Chairman Michael Masterman have shown their support for
the company in participating in the loan facility.

Export Quota

Caspian hopes to be able to restart exports in June following a temporary
interruption to export activities. The Company has made selected domestic sales
in the interim period from April 2007 and may continue to do so until exports
are resumed..

Quarterly Production Update

Production for the quarter ending 31 March 2007 was 12,000 barrels.

Related Party Transaction

Masterman Investments Limited ("MIL"), a company related to Michael Masterman, a
director of Caspian, and of which Michael Masterman is a director and sole
shareholder, is a lender participating in the Credit Facility to the amount of
£200,000 and will therefore receive 5,000,000 options as a commitment fee. The
loan by MIL is therefore classified as a related party transaction for the
purposes of the AIM Rules. Accordingly the Directors (other than Michael
Masterman), having consulted with Grant Thornton Corporate Finance (in its
capacity as the Company's nominated adviser), confirm that they are satisfied
that the terms of MIL's participation in the credit facility are fair and
reasonable insofar as the shareholders of the Company are concerned.

Following this transaction and the awarding of options, Michael Masterman will
be interested in 10,100,000 ordinary shares in the Company representing an
interest of 10.2 % in the total voting rights of the Company. In addition,
Michael Masterman is interested in 7,000,000 options over ordinary shares in the
Company as follows:

Stock Options Held Option Exercise Price Expiry Date

2,000,000 £0.23 4 November 2007
5,000,000 £0.04 31 December 2010

Enquiries:

Caspian Holdings Plc Grant Thornton Corporate Finance
Michael Masterman Gerald Beaney
T: [phone] T: [phone]

Hoodless Brennan Parkgreen Communications
Luke Cairns Clare Irvine / Justine Howarth
T: [phone] T: [phone]

www.caspianoil.co.uk

This information is provided by RNS
The company news service from the London Stock Exchange


Maybe some of the short term loan money might be used as working capital to store oil for export. Though I think there might be a problem with the capacity of their storage tanks, hence there need for some "selective domestic sales" in the meantime.

In any event the options issued as a condition of the loan mean further dilution.

Al.

[letthegoodtimesroll] 25/5/2007 15:15

Knowing this company they probably ran out of buckets and pans quite quickly.

[relishing] 25/5/2007 14:50

Depends on their storage capacity.

[multibaggers r us] 25/5/2007 14:49

Curlie,surely they are still producing at full capacity and storing it ready to hit the market once the exports resume. That's probably why the shares are being marked up. I believe the share price will rise until we find out news because of good sentiment.

[curlietailz] 25/5/2007 14:40

TK Alioshka.

Wonder if we have been producing at "full" capacity & storing it for export later... ie 8 weeks production stored which will hit the pipeline in one go.
Or have they been capping production
or selling it to the locals at a pittance?