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I have it on very good authority that:
A5 isn't on flow test... it would be RNS'd if it were.
CE charter is on schedule.
Accounts being prepared and expected to be published at the end of June.
Before then we can expect an operational update on BNG and corporate updates on BNG, Block 8 and West Shalva.
No dates for the Block 8 licence renewal just yet.
Approvals for MJF sale likely to stretch beyond the end of the year.
Anticipating production from Block 8 and West Shalva before MJF sale approvals completed.
No more details, but intriguing none the less.
Thanks Tyr. I take it you’ve had an update from Clive.
Re A5, initially i was surprised to see the Adrianz note re A5 stating that going on flow test ? How do you square that one ? I agree it would have to be RNSd but did you get any info as to whether side-tracking, milling out pipe or no operational work going on ?
Block 8 is important, not just the loan repayment and the existing 100bopd but the testing of the 2 new wells.
WS, yes, probably spud first well in Q3 if not sooner ?
Was hoping that accounts would be back to May cycle but hey, another month so if news pre finals release then probably this week as we’ll get a regurgitation of the same news .
Hi Smarty... yes, and he was very generous with his time (since it was via email). I got the sense that he's feeling rather upbeat about the coming months and the potential at both B8 and West Shalva.
Personally , I was a bit disappointed about A5 since a flow test there could have ignited the share price over summer. I didn't get any further info about the blockage or side-tracking; either positive or negative, so there's still a possibility of good news I suppose? I think their expectation (and I am reading between the lines a bit here) is that both B8 and West Shalva could individually produce more than MJF (at 2000bopd) so the net outcome towards the end of this year could be very encouraging for us PI's! I'm still optimistic and adding... albeit in small chunks since I'm already a bit 'toppy' on Casp. Just have a good feeling about 2024 after several years in the wilderness...
Thanks Tyr. Two, last time I had comms , he was very upbeat about our prospects in 24.
If they sell shallows @ $83m, add in the CE and deliver 2k bopd from a B8, WS combo in short order, then this is going to fly. 803 important too and I’d like to understand next steps on A5 as that alongside NY discovery is what really sends this into orbit.
Finals in June will show the debt increasing but let’s hope that Q3 is really a cash generative phase as expected.
Thank you for your feedback and confirming what I've been saying T,
Hopefully A5 comes in soon, two months is a long time for the rig to be sat there doing nothing, thought the sidetrack would have started by now - 400m should take about a month to drill so maybe news next month if drilling has already started.
2H will be full on with lots of dosh in the bank by year end, IF the MJF sale goes through as anticipated.
Perhaps a surprise in the next RNS will be if they've managed to get a Specialist onboard - shouldn't take a week to get the 360m of stuck pipe out once dislodged or perhaps a month to mill it down if need be?
RNS will soon be out which will give us all an idea of where CASP are at.
Thank you tyr for sharing the info and all for your views which all sound credible and reasonable views. Let's hope the positivity from Clive follows through in any RNS soon.
Only thing i can add is that I've also seen the flaring permit for A5 which ends on the 6th June on the kazack egov portal. Of course it don't mean it will happen , nor that a test is in progress but may be precautionary permit. Wonder if an extension will be reapplied for.
Also, I guess the interest in CE is that when it starts it's job, there is a nice drilling fee to come , how manu bopd does that equate to - temporarily of course....or maybe rinse and repeat for another hole....
All looks good though and personally quite excited about the coming year and I to the next.
Leveller,
We all want cheap stock, read their comments.
Facts are : They drill, they hit hydro carbons that bubble up at the well head as the mud is circulated.
Can't test without a flare licence.
Get a flare licence, put tanks in, get tankers 'on tap' circulate the mud out, burn off the gas ( until splitter installed) then you can see what's there.
Carver won't be telling pi's info like that ...
If results are June, news this week ?
Has the A5 sidetrack started?
Has the flow test started?
Has the drill bit even turned since being on site over 2 months ago?
Has anyone got a clue 🤔
A5, I do believe there’s work going on but whether that’s a sidetrack or milling out the stuck pipes etc but we’ll know at next update.
The current action is selling as some believe nothing material to come in the next update. SP will probably start to retrace tomorrow but it won’t be for long before buyers return as CE news on the horizon and B8 too hopefully. We’ll get a progress update on all shortly inc 803 progress and clarification on A5 status.
Next 3 months should see positive news on 3 assets ie CE/B8 and MJF sale, the deep testing of 803/A5 and 2 Block 8 wells. May even get a spud at West Shalva too. The sp will move with gusto at some juncture and some may get caught out ;)
You spelt somm wrong.
Sorry, and Somm may get caught out ;)
Oh and don't forget whatever other news comes out from nowhere, sale, partnership, new block, new prospect, new rig purchase. Which cups are the rigscurrently under. Playing all the right notes, but necessarily in the right order...
I'm still loading ....
Says the boards two biggest traders! LMAO!
MMWWWWWAAAAAHHHHHHHH!
What I want to know is how and why is this information available to you Tyrannosaurus - I have messaged and contacted Clive several times, but never had any response. Do you have any special channels that I am missing? Thanks in advance.
"I have it on very good authority that:
A5 isn't on flow test... it would be RNS'd if it were.
CE charter is on schedule.
Accounts being prepared and expected to be published at the end of June.
Before then we can expect an operational update on BNG and corporate updates on BNG, Block 8 and West Shalva.
No dates for the Block 8 licence renewal just yet.
Approvals for MJF sale likely to stretch beyond the end of the year.
Anticipating production from Block 8 and West Shalva before MJF sale approvals completed.
No more details, but intriguing none the less."
When he says the end of the year he means this August as per the RNS.
"Approvals for MJF sale likely to stretch beyond the end of the year."
Bullina,
Clive has a group that he will talk to, when he wants to promote a future event he replies to emails from them, when he has poor news or wants to build a head of steam / expectation he can also go quite on them and say he is busy.
Releasing the news of the price the shallows wasn't good, maybe because Flawless and Co were ramping it to $200-300M he felt the need to let it be known it was $80m?
He must be focused on that £3m - you wouldn't be normal unless you were constantly angling for "how do I get paid"?
How do we become part of this Group?
If he's giving information to one it should be everyone or no one
Hey Jimmy,
What a great idea....we could call it a regulatory news service...
But to be fair it seemed a vague non committal set of answers to some direct questions.
If a thing is planned I wouldn't take that as a definite commitment as in tcq. Stuff happens and plans jig about. But clearly, the CE gig is not just them, so they need to fit in to the bigger plan. So far all the indications are it's "planned", elements are executed and so is in progress.
Leveller,
I've checked and confirmed on line that the Eni company that is dealing with the drill staffed up 15 months ago in march 2023 and started work on this project with the barge.
They had RNS the drill was to take place before it was all signed, sealed and delivered, then updated it all the way along until it was a legally binding contract, mentioned once the ship was to be upgraded as part of the contract.
"Caspian Explorer update
The terms of the charter agreement previously announced for 2024 have now been agreed with the formal signing scheduled for late March 2023."
What is interesting is that they haven't RNS that the boat has left harbour 8 days ago and is on site.
Nor did they RNS to a wider audience what technical alterations have been made to the drill ship that will make it more valuable on Caspian Sea drill hires.
I know and can see that Eni have been over seeing these alterations as I looked it up online and found the man who has been appointed to oversee the artificial island and amendments to the ship, he started on this project in March 2023, it must be ready to go as the boat has left the dock and transponder turned off which it can do as it is an unpowered craft that is effectively 'beached' on an artificial island.
They say follow the money, they mean follow the tugs ;)
ZzZzZzZz..........add nauseam am feeling sea sick.
Flaw, mirrors will do that to you...
gooly gooly ;)
Could buy at 3.35 then ...
CC,
Boat left 8 days ago and is on site. I take it that you mean the tug as CE is still moored in Aktau.