Civitas Social Housing Share Discussion Threads

[tonester30ccfc] 16/9/2008 18:42

Why hasn't this pile of shoite fallen through the floor?

No income, MM drawing shareholder funds in salary and a small piece of pasture land in the good ole Yoooooo Essssss of Ayyyyyy dressed up as a supposed oil field.

[domtheone] 09/9/2008 16:38

CSH should never have been there in the first place.

In fact, CSH should have never even been listed.

The whole lot was done on the back of one great big lie.

I'm surprised that the original investors (if there's any left) that have lost 100% of their initial capital (now that CSH is effectively worthless) have not gone after MM in a more aggressive manor.

Such a person belongs behind bars, nowhere else.

[geoffcapes] 03/9/2008 14:54

Last one out, turn the lights off!

[domtheone] 02/9/2008 16:55

Yep.

Was only a matter of time.

MM has lied/cheated his way through the last few years, imo. CSH should have never made it to the public domain.

Jsut goes to show what people can get up to on AIM when it is not regulated.

[monkey puzzle] 02/9/2008 09:23

I see normal service has been resumed here

[enamel] 01/9/2008 20:46

So much for Masterman informing shareholders about alleged violations. Not the slightest hint at any time that this was behind the delay to obtaining a licence. I wonder what the americans will make of CSH`s ethics?.

[tomrob] 01/9/2008 16:12

I was under the impression that the Kazak government had changed its attitude to all foreign owned oil companies (large and small) and had effectively embarked on, for want of a better word, a putinisation of its stance on energy policy. I grant you CSH were always looking like they might go this way but I don't think they'll be the last such company to be disenfranchised in this way.

tom

[monkey puzzle] 01/9/2008 13:30

Unbelievable, well at least it would be if it were any other company that is. Just goes to show that this company is never what it might first seem to be. I wonder how they managed to wind up the authorities to the extent that they are effectively being closed down and have to go through the local legal process to see if they have a future. Diversification into the USA does sound like it was a timely move now but you have to ask how they timed it so well? Besides, the USA element is so small in reality its not going to make this news any less palatable. This company never fails to surprise but this latest news really takes the biscuit.

[tonester30ccfc] 01/9/2008 13:12

Nothing like a good laugh in the current climate. A bit early for Jackanory though. I though that was 4.15pm with Crackerjack at five to five???

RNS Number : 4485C
Caspian Holdings plc
01 September 2008


Caspian Holdings Plc
("Caspian" or the "Company")
1 September 2008


Zhengeldy Regulatory Update

Caspian Holdings (AIM:CSH), the oil and gas development company with assets in the USA and Kazakhstan has reported mixed progress in completing regulatory approvals to restart production and exports at its Zhengeldy oil field in Kazakhstan.

On 25 June 2008, Caspian reported that it had received sign off of its 2008 Work Program as a critical first step as part of the overall
regulatory process necessary to restart production at Zhengeldy. On 3 July the Company received a letter from Zapkaznedra of the Ministry of Energy and Mineral Resources (MEMR) stating that the Company should apply to the Committee of Geology and Oil Use of the MEMR for the restart of production.

On 16 July 2008 (dated 16 July 2008) the Company received a letter from the Committee of Geology and Oil Use, of the MEMR confirmed in writing that there were no outstanding contract violations and that the Company should apply to the Central Commission of the MEMR for confirmation of the approval of the Supervision of the Development Plan in order to restart the production. We expected that the Central Commission will review the Supervision of the Development Plan at its next meeting.

On 26 August 2008 the Company received a letter (dated 29 July) from the MEMR stating that:

"the Contract 385 (Zhengeldy Sub Soil Use Contract - (SSUC)) of 14th of December 1999 on the production of hydrocarbons on the oil field
Zhengeldy in the area of XXIV-13-F (partially) in Aturay region (then SSUC), in the connection with the considerable violations of the obligations established by the Contract and the Work Program - is terminated in unilateral way and stopped the activity of the Licence".

The Company has received advice from its Kazakh counsel that it has sixty (60) days from the date of receipt of the letter to seek to set aside the purported termination of the SSUC by the MEMR.

This latest letter is in conflict with the earlier letter of the Committee of Geology of MEMR (dated 13 days earlier) and in contrast to the steady progress the Company has been making toward regulatory approval to restart oil production at Zhengeldy. In addition, under the SSUC that the Company has with the State of Kazakhstan, the Ministry does not have the right to unilaterally terminate the contract without a Kazakh Court decision and must provide a reasonable period for the company to rectify any default.

Upon receipt of the letter the Company has held various formal discussions with various MEMR officials. The Company is also considering commencing legal proceedings in the Kazakhstan courts to set aside the MEMR's decision to terminate the SSUC. The Company has received preliminary advice that its prospects if such proceedings are commenced are high and that its contractual obligations under the SSUC should be upheld and production at the Field recommenced.

Commenting on the situation, Chairman Michael Masterman stated "Despite this recent set back, we remain cautiously optimistic that we can reinstate full contractual rights and later this year return to oil production from the Zhengeldy field. It is important for Kazakhstan that even relatively small fields are returned to oil production if the Country is to reverse the recent slowdown in oil production growth"

"With the conflicting Kazakh regulatory environment, Caspian Holdings decision to significantly diversify its asset base towards the United States is proving to be a wise and timely decision."

The Company will continue to keep the market informed of developments in particular with respect to any legal action the Company may take.

[domtheone] 28/8/2008 16:35

Still trending down.

NAV must be sub 1p. Add in the MM factor and you've got a 0.10p valuation.

[scrawler] 22/8/2008 10:38

oil price back to csh friendly levels.

[olly94] 15/8/2008 22:03

Pray tell how you get a valuation of 10p a share?
This should be good!

Nearly is as good as that old classic,

"The overheard conversation in the gym"

PMSL

[geoffcapes] 15/8/2008 15:01

domtheone - 15 Aug'08 - 14:49 - 27390 of 27390

CSH is MM or MM is CSH.

The only one who has ever, and ever will, benefit will be MM.

Shareholders mean nothing to CSH, or to MM.

Pointless CSH having a public listing.

If you don't realise that yet, do some more digging.

And yes, 3p is over valued. There is no potential here.

More likely to be a front for the Mafia ffs.


What he said!

[domtheone] 15/8/2008 14:49

CSH is MM or MM is CSH.

The only one who has ever, and ever will, benefit will be MM.

Shareholders mean nothing to CSH, or to MM.

Pointless CSH having a public listing.

If you don't realise that yet, do some more digging.

And yes, 3p is over valued. There is no potential here.

More likely to be a front for the Mafia ffs.

[scrawler] 15/8/2008 13:29

no i've never met mm and i haven't put my money on him but on csh potential.

[geoffcapes] 15/8/2008 11:34

Fortunately I don't hold CSH any more (The missus does, at current prices about 30 pence worth), and I am one of the few who have not lost any money on CSH. Sold up at those heady heights of around 30p (last one was 28.5p).

I'll eat my hat if they ever get there again!
Momentum? Look at the chart and tell me which way the momentum is going????

Scrawler, I take it you've never met MM?

[scrawler] 14/8/2008 15:26

if you think 3p is overvalued why on earth do you still hold the shares?
normally if you think a stock is rubish you wouldn't waste time in this bb
you'd go elsewhere.
some of you here hate mm so much coz you lost money in csh. it was a bad investment get over it you all knew it was a gammble since the beggining.
i too myself gammbled when bought csh i'm still at loss and i realise it was a stupid choice. but now we can see some momentum in the shares and also news releases from the co. good weather is ahead and patience will pay off.

[geoffcapes] 14/8/2008 10:51

scrawler - 12 Aug'08 - 16:13 - 27382 of 27384

why some ppl are so negative about csh and yet still keep their shares in company. if you don't think csh share is worth anything then sell that stock you hold and go elsewhere.
csh is slowly rising and it will keep rising despite the fall in oil price.
csh has passed its hardests of times in the recent years and now its getting to its true valuation which is above 10p per share.


ROFLHOPMP!!!

Pray tell how you get a valuation of 10p a share?
This should be good!

[davenumy] 13/8/2008 18:27

up up and away,it going to blow

[domtheone] 13/8/2008 16:35

Some may feel they owe it to other peeps to warn them about the past.

Investing in CSH is....well not investing at all, imo.

It's putting ones faith in a crook who deliberately goes out of his way to lie to investors, institutions, presentations etc etc, imo.

10p a share lol. 1p a share maybe. Over valued as it is.

[scrawler] 12/8/2008 16:13

why some ppl are so negative about csh and yet still keep their shares in company. if you don't think csh share is worth anything then sell that stock you hold and go elsewhere.
csh is slowly rising and it will keep rising despite the fall in oil price.
csh has passed its hardests of times in the recent years and now its getting to its true valuation which is above 10p per share.