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Any reason other than there's nothing to report why they wouldn't have added a progress report in the last RNS
WHI have just issued a very upbeat note on Caspian.
Can you give us a quick update
The most upbeat ever, really odd
They talk of how the recent reserves validates the huge potential of Airshagyl, and how close it is to Tengiz.
Based on their own assessment they come up with 305 mil barrels of recoverable oil.
They also refer to the extraordinary prolific production potential of the field as a whole.
Not unusual, they obviously have an agenda and imo, that's to sell BNG for a significant sum. They issued the IP out of the blue in Q4, a doc that read like a sales pitch. Then the unexpected shallows sale and now the reserves update. Yep, they have to prepare an update as part of the licensing process moving from appraisal to full production licence but personally, as stated many times, I believe they're going to sell the whole BNG licence area and the prod licence award gives them the green light. 803 and A5 remedial work are very important with regards exit price. Maybe they stay involved in a minority play with a small carried interest but I for one would not be unhappy if they sold the whole licence area and focussed on the other assets in the portfolio.
CC has already had comms stating that he believes they can replace existing prod and more from B8 and WS wells and they'll be able to do this with a load of cash in the bank and the journey will continue ie to acquire assets and develop/flip. Probably will diversify into other areas, renewables, mining etc but the story will go on
We're going to make money here and the multiple friends on drilling results in H2. Yep, they have to cut through the Kazakh regulatory bureaucracy and yep there are risks but I believe they end up flipping the BNG asset for a tidy sum and we all make a few quid but more importantly, we're invested in a company with considerable cash with additional assets that can build NAV.
Loaded up and waiting for my payday :)
Ditto, however I am not adverse to getting some more in the 2s if/when the opportunity arises 8-))
Mike .... when
Yep, though I doubt BNG will be sold anytime soon - possibly towards the end of next year? in the meantime we need WS/ B8 to be flowing to be in a strong negotiating position re BNG sale along with lots of dosh in the bank from shallows sale. ATM CASP have little money to hand and are on the back foot re shallow sale negotiates and that's the reason for the fire sale of the shallows.
The WH Ireland note is the same old same old 305m barrels from years ago and to add they don't know of any other wells in the last 10 years that can flow like the BNG wells - geez are they having a laugh!
They said the shallows were worth 7.8p and $8+ per barrel in their last broker note - we now know how those estimates have turned out, did CASP give 40m 1P/ P2 barrels away at circ. $1.60 per barrel?
If 40m 1P/2P barrels have been sold for circ. $66m how much will 80m 1C/ 2C barrels be worth? and CASP are a very long way from proving up 305m barrels of oil.
BTW CASP are saying the $17m owed for the BNG license fee could be nearer $15m by the time a deal is signed - that's over 2 months away, then it has to go through the Energy Ministry ZzZzZz then a payment made so YE/ Q1? the good news about that is the additional $15m-$17m covers the license fee for the whole of BNG i.e. the deeps.
CASP are going to have to widen the drainage vicinity by a very wide margin to prove up the big numbers re 305m+ barrels in the 'years' to come - how far is the immediate drainage vicinity covering of the 58 km2 A structure from wells A6-7-8? and the 36 km2 Yelemes deep wells 801-2-3?
A FDP with many appraisal wells is going to have to be planned soon after these 6 BNG wells have all been drilled/ flow tested - and many many thousands of barrels of oil being pumped to help prove up the Reserve numbers from these wells - if an early take over/ merger offer was to come in for the BNG deeps in the next 12 months then a mighty premium would surely have to be attached, hopefully one much much better than the $1.60 per barrel for the shallow oil.
Once these 6 BNG wells are flowing and GC have done a proper CPR then we'll see what the numbers are, hopefully they'll be somewhat better than these especially if the A7 Deep Well flows and the 4 massive 801 Deep Wells fan intervals all flow.
Another 50m 1C/ 2C barrels to add from Yelemes in Aug/ Sept?
Anyway just doodling...
š
Did some one say xxxx-a-doodle-doodling ?
You cant say xxxx a doodle 8-)) any way yes George, if this drops into the 2s I will buy some more, it only takes 1 of us to fold and the SP crashes, no wonder CC dislikes us soooooo much
Mike,
They are only ramping it or trying to to stuff the next lot of west shalva stock at 4p into Smarmy.
Oh George, have you sold out again?
The tone of his posts changed a little while back
He's the most transparent poster on lse
He might want to give fdbk another shot now
Ohh Mike,
I'm just sitting next to you waiting for the opportunity of more in the 2's
Is it only OK if you say it?
;)
If only...
Fdbk = watching and waiting for the next placing and warrants, happy with the bag, 60 to 1.11 and 1.30p
Rdgc 5 bags from placing at 0.6p plus a load at 1p on open market, sold everything at 3p - hope you did too ;)
Still in here, might have more on A5 bad news if some of the lth xxxx the bed again.
Hope you make some money George, a bit too much of a gamble for me with news so close and everything going on at CASP, lots we are not being told, good or bad
Mike,
No news is good news and there's no news at the moment Mike ...
Slippery as a
More sides than a
Look them up. At least youāre consistent, Iāll give you that .
To add....
Delusional
Obsessed
Stalker
Clueless
Low IQ......
.
Because I've said there's no news at the moment and I agreed with Diver id add at 2p on bad news, I've sold?
From the bloke who had 14m shares on one post then announced he'd sold down to 7m on the next?
I'll stick to believing in myself...
Believe/Do what thou wilt/ want shall be the whole of the law.
Look it up...
There you go again. 14m, then 7m ?? Never held 14m and certainly didnāt sell 7m. With almost 13900 posts, youāre forgetting the stories ;)
Enough playground stuff. Iām sure the BB contributors would like to discuss our future prospects :)
You tell so many stories to pick from...