Caspian Sunrise Live Discussion

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fynne 15 Jul 2019

One to watch As the thread title suggests, guess a few are watching… and waiting. A lot happening though … (and as you suggest) getting one deep well to flow consistently will make this company…

bobsson 15 Jul 2019

One to watch Something not getting a mention about CASP is its obligation to drill two wells on the 3A Best contract area. The first has to spud by the end of 2019 for a cost of $1.2 m and a second has to spud by end of March 2020 at a cost of $1.4 m. If CASP intend to purchase a rig, I would suggest its first missions will be to drill these two 3A Best wells. How much does a rig cost $2 m ? So I cannot see any shallow infill drilling until around May 2020. I would guess their best bet would be to workover the existing six MJF wells to increase production, and hope they get a deep flowing on test for three months at 2500 bpd. DYOR

fynne 12 Jul 2019

One to watch i agree it’s been painfully slow progress on the deep wells … but none have been abandoned and it is still progress. Get one these to flow at a decent rate and it will be worth the wait I believe. Revenue from the shallow wells is helping to pay the bills so any extra income there is a bonus

bobsson 12 Jul 2019

One to watch fynne, The oil from the shallow MJF structure, which is heavy oil, and as such does not attract a premium price, can now be sold at international prices. CASP are still to negotiate with an oil trader to take the MJF oil on a 70/30 basis, that is 70% of production can be sold at international prices about $40 pb and 30% still sold at domestic prices about $20 pb. When more revenue comes in they can clean up the existing wells and start to drill on a 10 well fill in campaign, and it looks as if they are going to buy a rig to do the job. We are I think looking at three years to have 16 wells that between them will produce 4000 bpd at best. I think 200 bpd from a shallow well is good. It is all about the deeps, and progress is very slow, I think at least two or three months before one will flow. I can see the share price drifting below 10p yet again in the short term. IMHO

fynne 12 Jul 2019

One to watch RNS … Work on getting the deep wells to flow continues… however, not a major part of the rns but new license on the shallow wells . Bit vague but is this a production license with the respective increase in price they sell the oil?? Drilling program here to go ahead and would generate some serious revenue if I’m reading it correctly??

bobsson 04 Jun 2019

One to watch Ops update today confirming that CASP have put shallow well workovers on hold to save money. Therefore output from the shallows gradually declining. All due to Kazakh red tape and inefficiencies that have meant delays to the full production licence which should have been a formality and granted months ago.

fynne 31 May 2019

One to watch So much potential and news … I would like to see more emphasis on the shallows and export license … generate a decent income to pay the bills …

bobsson 30 May 2019

One to watch Further momentum may come from pending announcement of full production licence for the shallows. Once revenue from the shallows is doubled I expect CASP to immediately announce the further shallow continuous drilling campaign for the 10 extra shallow wells. One rig or two I don`t really care just as long as they continue to drill the shallows. I do not expect much more than 200 bpd from each well, and not all will produce at the same time. So if we have say 16 shallow MJF wells I would only expect 11 or 12 to be producing at any one time. These shallow wells need time and work to help them recover periodically. But clearly the deeps are the main driver, if A8 can drill to its targets and then produce oil and lots of favourable reservoir (s) data then we could see share price rises in excess of 10p per day. It looks as if CASP are going to give numerous updates rather than having to wait several weeks or months for any news. A further boost will be if we get any production from A5 ,A6 or 801. Enjoy the ride. DYOR

fynne 29 May 2019

One to watch A little bemused by the continued reference to core samples, even if they have decided “they have more than enough!” drilling to finish the well now. Question remains… will it flow ???

fynne 16 May 2019

One to watch Yes still hanging in there … shallow wells are paying the bills and should get more development imo. but like you say, get one deep well to flow at the sort of rate they are capable of and it’s a game changer?

bobsson 16 May 2019

One to watch As I said in March worth a punt below 6p for any newbies. Share price now just over 10p so this was an opportunity to make money and still is if CASP can get a deep well to flow. Its all about the deeps or is it a single massive deep? Time will tell.

fynne 15 Apr 2019

Boring Painfully slow progress but it is progress? Lots of potential in the deep wells … just struggling to get the stuff out !! News of a production licence on the shallow wells would be a boost ?

fynne 13 Mar 2019

One to watch Always liked this one but you do have to be patient. RNS shows things are progressing …(slowly) but having a steady income, even at the exploration rate stops the endless fund raises some suffer from. The deep wells offer the bigger return but are proving harder to get flowing. Get the production licence and I’d like to see a couple more shallow wells drilled?

bobsson 13 Mar 2019

One to watch Ops Update RNS today 13/3/2019. Share price currently below 6p. Shallow wells bread and butter production just over 1500 bpd at around $20.50 pb brings in around $940,000 per month, this should rise to around $1,550,000 per month when export permit arrives, another two months to wait imo. Deeps: A5 I assume the drilling/milling out of the obstruction is completed and the assessment of the rest of the casing can now commence, may get a positive update next month. 801 Pressure steady same readings as January, but now international consultants asked to advise. A6 International consultants advising way forward. A8 drilling reached top of salt at 3900m next target 4400m to break through salt, target depth 5300m. I expect result in June 2019. Worth a punt now, as not much downside left and could double on a deep well producing 2500 bpd. IMHO DYOR NAI

bobsson 22 Jan 2019

One to watch RNS today 22/1/2019, the 3ABest acquisition has now completed, so at least one well will be drilled there within next two years. The company think there may be oil in the deeper plays as well as the shallows, so will they just go for it and drill beyond 3000 metres to 6000 metres if they find an optimum location? The shallow MJF wells even at 1500 bpd will bring in over $20 million pa when international prices kick in for $40 per barrel. The board of directors clearly believe they have elephant or even giant oil fields on their licences at deeper levels and are determined to find out if its true. However drilling the wells is technically difficult and taking a lot longer than we hoped. It is now all about the deeps for the big rewards here. I note there was a recent buying opportunity below 6.5p and a lot of buyers took advantage of it. IMHO DYOR NAI

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