Menu
Close

One to watch

lse:casp

#21

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 …


#22

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.


#23

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??


#24

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


#25

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


#26

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


#27

As the thread title … 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…