CIG - Caspian Oil and Gas
- Thread starter yogi-in-oz
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Hi folks,
CIG ... looking for some positive news, as 2 time cycles slot
into place, around 19-20032008 .....
happy days
paul
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Greetings all
Here's hoping it is good news and something to celebrate today. It seems most are holding for the big announcement like moving to a producer, even if small volumes.
Seems to be a very positive announcement today with oil in all three wells and the fact they use the term "in this area lateral changes in reservoir quality appear less variable than first thought" implies the reservoirs could be more predictable than originally expected, with good flows.
I wish it would reflect in the sp but who knows what the next month or two will bring? I wonder when STO will take a stronger interest?
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Hi All - first post, so best to ignore my views!
I reckon STO becoming more visible is the key to any real SP movement here, given that this is an area that has existing production you would have to think it had been moderately explored and that perhaps only the appreciation in oil price is what is making the current CIG activity remotely economic. Lets face it 20-30 barrels a day is no geiser!
Anyway I'm a fan and if they can sink lotsa wells, get some decent volume flowing, get themselves into a position where they can finance their own exploration then they get two thumbs up from me. As with most of the resource / energy stocks I think they are a bit undervalued - no-ones interested in risk atm!
I reckon STO becoming more visible is the key to any real SP movement here, given that this is an area that has existing production you would have to think it had been moderately explored and that perhaps only the appreciation in oil price is what is making the current CIG activity remotely economic. Lets face it 20-30 barrels a day is no geiser!
Anyway I'm a fan and if they can sink lotsa wells, get some decent volume flowing, get themselves into a position where they can finance their own exploration then they get two thumbs up from me. As with most of the resource / energy stocks I think they are a bit undervalued - no-ones interested in risk atm!
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Hi folks,
CIG ..... expecting some positive news to lift this one
off its lows, very soon:
28042008 ... positive spotlight on CIG ...
06-07052008 ... another two positive cycles here.
23052008 ... negative aspect expected
28052008 ... minor cycle
31052008 ... minor aspect
24062008 ... minor and positive cycle
31062008 ... minor and positive cycle
July 2008 looking more negative for CIG
have a great weekend
paul
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Hey trader paul,,How do know..
What do you use, Numbers, calender, stars or just guesswork...
I hope you don't think I'm being rude,,, I Just would like to know.....
What do you use, Numbers, calender, stars or just guesswork...
I hope you don't think I'm being rude,,, I Just would like to know.....
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I've never known him to reply to such questions - warlocks code dictates silence I believe. (Don't hex me TP please!!!!)
But on with the show.
Something struck me the other day when looking at the mailisu III area. there is an excised zone where there is current production going ahead. This excised production area occurs in the P10 zone according to the map - so if the P10 zone holds oil as demonstrated by the current production zone doesn't that point to a pretty good chance that this is a fairly substantial field? I don't know - but I wish I did.
Well #5 is next to spud - this one is inside the P10 area, so results from this well will be interesting. Just as long as they don't come out in July (I still read my horoscope TP).
But on with the show.
Something struck me the other day when looking at the mailisu III area. there is an excised zone where there is current production going ahead. This excised production area occurs in the P10 zone according to the map - so if the P10 zone holds oil as demonstrated by the current production zone doesn't that point to a pretty good chance that this is a fairly substantial field? I don't know - but I wish I did.
Well #5 is next to spud - this one is inside the P10 area, so results from this well will be interesting. Just as long as they don't come out in July (I still read my horoscope TP).
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Ahhhhhh, so is that why the share price has been rising of late. I was scratching my head trying to work out the sudden leap...lets hope there's more good news on the way
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I think the run on Purseus has also got something to do with it - CIG holds about 15% and Purseus has run off a recent low of 90c up to $1.50 today. I agree though that the Santos holes are a key - either that or good results in hole #5 should see things move a little.
I'd love to hear some news from them on the potential reserves trapped in the deep (santos) zones....
I'd love to hear some news from them on the potential reserves trapped in the deep (santos) zones....
Is it a big seller, dumping there stock now after the profit takers. Really thought it would break 10 cents after the announcement and news in the next couple of weeks around flows and production.
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Is it a big seller, dumping there stock now after the profit takers. Really thought it would break 10 cents after the announcement and news in the next couple of weeks around flows and production.
I've been holding Caspian for a while now - rode the wave up to 17c - and held....
and now we are hovering a couple of cents above my entry point. It has been frustrating. My beef is that the quality of the news is not that good. I mean they are hitting oil in all wells so far, the flows aren't great but as I understand it the play here is lots of wells across the Mailisu III field giving some economics to it all. As I said I've been holding for a while and I can't recall what the reserve target is - I honestly can't recall if they have given us one for Mailisi IIII've said it before - I think it might be one of 2 things that get this one going. Hitting oil in the P10 zone (current hole) AND giving us some idea of the size of the reserve or Santos becoming more active. I believe the santos action should be ocurring mid second half of this year. I'm holding on to this through sheer stubborness - it MUST perform!!!!!
Well - at least I will only have to declare 50% of my profit to the tax man on this one..... (unless K-Rudd changes the rules of course...)
Good luck to the holders.
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More oil in #5
"Caspian Oil & Gas’s Mailisu III #5 well has delivered good live oil shows after having been drilled to a total depth of 746m. The well penetrated limestone Beds V & VII at depths of 673-691m K.B. respectively, with the oil shows described from Bed Vb and VIIa. Wireline logs have been run and the well has been cased to allow production testing."
Not much repsonse from the market though.. Still no resource estimate...
"Caspian Oil & Gas’s Mailisu III #5 well has delivered good live oil shows after having been drilled to a total depth of 746m. The well penetrated limestone Beds V & VII at depths of 673-691m K.B. respectively, with the oil shows described from Bed Vb and VIIa. Wireline logs have been run and the well has been cased to allow production testing."
Not much repsonse from the market though.. Still no resource estimate...
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Not been the best, the SP seems to on a knife's edge.
Can't explain the downs or ups. Oil price up, SP down..Oils price down, SP Up........No news...SP Down and then Up..?????
Can't explain the downs or ups. Oil price up, SP down..Oils price down, SP Up........No news...SP Down and then Up..?????
Hopefully some good news this quarter as I hit my anniversary of first year. Had high hopes 12 months ago.....
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Tuzluk 1 apparently was due to spud with Santos 3Q08 . Any one know if this is still on schedule. CIG were upgrading their rig to drill deeper targets , last I heard. CIG are quite slack I think at keeping the market informed.
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Announcement out today - they've finally started talking in terms of oil in place. Apparently 500,000 recoverable barrels is the estimate for Mailisu. #5 has started producing, currently at 60bopd - increasing from 30bopd over the last 5 days. This is the first piece of good news we've had on this play - overcoming problems to get a clean un-pumped oil flow is significant, even if the flows aren't much to speak of. Anyway, lets see if the learnings in getting #5 going can be applied to the previous and future wells, it may turn into useful cashflow for more ambitious exploration targets.
Regarding Santos, they don't seem to be rushing in do they. The announcement that they were offering CIG the oppourtunity to farm back in by using their drill rig says that they aren't all that excited about the prospects (imo). It's not as if Santos is short of exploration funds to do it themselves if they felt there was good potential.
Regarding Santos, they don't seem to be rushing in do they. The announcement that they were offering CIG the oppourtunity to farm back in by using their drill rig says that they aren't all that excited about the prospects (imo). It's not as if Santos is short of exploration funds to do it themselves if they felt there was good potential.
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I noticed perseus mining (PRU) is on the rise as well after their latest announcement. This is sure to add value to CIG being a substantial holder in PRU.
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CIG have increased their cash reserves by selling 2,128,000 PRU shares for
$1,492,790 , this leaves CIG with 22,557,135 shares remaining in PRU . See announcement 3 Nov 08.
$1,492,790 , this leaves CIG with 22,557,135 shares remaining in PRU . See announcement 3 Nov 08.
