they still want to raise more money with another 200 million shares issued. How much do they need?
CIG - Caspian Oil and Gas
- Thread starter yogi-in-oz
- Start date
they still want to raise more money with another 200 million shares issued. How much do they need?
prawn_86
Mod: Call me Dendrobranchiata
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they still want to raise more money with another 200 million shares issued. How much do they need?
Enough to keep the directors in a lavish lifestyle with 6 figure salaries. Oh and they probably should do a bit of exploration to make it look like something is happening
Enough to keep the directors in a lavish lifestyle with 6 figure salaries. Oh and they probably should do a bit of exploration to make it look like something is happening
seems to be - isn't G Parsons getting $300k? it seems to me the big $$ comes after CIG becomes profitable??? What is he doing to add value - still waiting on the Santos agreement....
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Things been quiet on CIG for a while but did today's "news" really warrant a 33% rise?? I didn't see anything that significant about it.
Recently run from 1.6 to 2.8 back to 2.2. Holding firm over the last few days. CIG rig upgraded and now drilling in K-stan. Looks like Santos drilling going ahead so hopefully once seismic mapping is completed and Santos deep drilling commences there may be some potential finds. Still needs some news with upside potential to move higher...but I will be keeping an eye on this one....
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I bought a few CIG friday at 1.9c
why?
well because they are drilling their first wildcat in Kyrgyz in over 18months which has a target of 5M bls of oil and 40 bcf Gas
Just look at JPR drilling in next door Kazakstan
CIG also has 30% of 1Moz gold project in Africa with BYR where it is free carried, given the gold euphoria at the moment this adds a very interesting spin on CIG
Finally from what I can see it has 2M PRU shares worth $3m
Combine that with the $6m cash it will have after the cap raising and the fact that CIG own their own drill rig and Id say they really wont need to raise funds for some time
well worth a look DYOR
why?
well because they are drilling their first wildcat in Kyrgyz in over 18months which has a target of 5M bls of oil and 40 bcf Gas
Just look at JPR drilling in next door Kazakstan
CIG also has 30% of 1Moz gold project in Africa with BYR where it is free carried, given the gold euphoria at the moment this adds a very interesting spin on CIG
Finally from what I can see it has 2M PRU shares worth $3m
Combine that with the $6m cash it will have after the cap raising and the fact that CIG own their own drill rig and Id say they really wont need to raise funds for some time
well worth a look DYOR
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You still holding YT?..... i just bought a couple as a speccy punt but thats all it is a speccy punt ...... I do agree re cash . at least they shouldnt have there hand out for at least the length of time i plan on holding......Recent ann gives a glimmer of hope for it , lets hope it plays out.
have a good day.
have a good day.
Well Santos has finally withdrawn from its proposed farmin agreement. PARSONS and his fat cat mates reckon this is good for CIG...go figure...
"Caspian Oil & Gas Limited (the Company) is actively pursuing a new joint venture partner for its Kyrgyz Republic licences following Santos International Operations Limited’s (Santos’s) decision against entering into Phase III of its farmout agreement with the Company.
Caspian will retain 100 per cent ownership of the Kyrgyz blocks within the oil-rich Fergana Basin following the withdrawal by Santos.
Caspian Chief Executive Officer Graeme Parsons said the Company was relieved to finally know where it stood in relation to the Kyrgyz licences.
He said Caspian was preparing a package to use in seeking JV participants and expected considerable interest in the licences.”The decision from Santos is positive for us as we can now be a more active participant in exploration within the licences,” Mr Parsons said.
“Since late 2005, Santos has spent around US$16m on the blocks; during this time they have acquired approximately 400km of 2D seismic across six of our licenses.The work they have done has revealed targets which are attractive to us and we will actively promote the oil and gas potential to new farminees.
While Santos’s withdrawal was based on an assessment of prospectivity for targets material to a company of its size, multiple targets identified from the recent seismic program are significant to Caspian. Santos has decided to concentrate on deeper targets on its other Kyrgyz blocks.”
Mr Parsons said Caspian was also currently reviewing several producing fields within the Kyrgyz Republic with the aim of entering into production sharing agreements for incremental oil extracted from the fields.
He said there was significant potential for early cash flow through remediation works in existing producing wells along with enhanced oil recovery methods.
"Caspian Oil & Gas Limited (the Company) is actively pursuing a new joint venture partner for its Kyrgyz Republic licences following Santos International Operations Limited’s (Santos’s) decision against entering into Phase III of its farmout agreement with the Company.
Caspian will retain 100 per cent ownership of the Kyrgyz blocks within the oil-rich Fergana Basin following the withdrawal by Santos.
Caspian Chief Executive Officer Graeme Parsons said the Company was relieved to finally know where it stood in relation to the Kyrgyz licences.
He said Caspian was preparing a package to use in seeking JV participants and expected considerable interest in the licences.”The decision from Santos is positive for us as we can now be a more active participant in exploration within the licences,” Mr Parsons said.
“Since late 2005, Santos has spent around US$16m on the blocks; during this time they have acquired approximately 400km of 2D seismic across six of our licenses.The work they have done has revealed targets which are attractive to us and we will actively promote the oil and gas potential to new farminees.
While Santos’s withdrawal was based on an assessment of prospectivity for targets material to a company of its size, multiple targets identified from the recent seismic program are significant to Caspian. Santos has decided to concentrate on deeper targets on its other Kyrgyz blocks.”
Mr Parsons said Caspian was also currently reviewing several producing fields within the Kyrgyz Republic with the aim of entering into production sharing agreements for incremental oil extracted from the fields.
He said there was significant potential for early cash flow through remediation works in existing producing wells along with enhanced oil recovery methods.
Hi,
Anyone still interested in this stock?
It seems to have gone dead and most predictions did not pan out. I have been watching this for a while and keep thinking "speculative buy" but...
I see they are offering farmin opportunities again.
I would welcome any input on it.
Anyone still interested in this stock?
It seems to have gone dead and most predictions did not pan out. I have been watching this for a while and keep thinking "speculative buy" but...
I see they are offering farmin opportunities again.
I would welcome any input on it.
Yes, I purchased 3 million shares @ .9 cents a few weeks ago. Going purely by the monthly graph, I believe it will be up around the 10 cent mark within the next 4 years sometime and I believe I will double my money sometime this year. I will consider selling all my shares at around the 2.2 cent mark which I believe it will reach before November of this year.
If this isn't ramping what is?
Can you back up your reasons as to why the dramatic jump in sp other than a chart?
Since that post I have sold 2 million shares and used that money to trade other stocks on the ASX. Last night CIG made an announcement. After reading the announcement, I'm contemplating buying another million shares back at the same price or lower.
I now believe CIG will be at 1.8 cents before May of next year. I do not believe they will be at 2.2 cents by November of this year unless someone signs a farm in agreement.
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?? why 1.8 cents ? is there a technical reason ? a fundamental reason? how did you come up with this figure .
Is the fact ( as posted in another thread) that you currentlly have 20% of your capital tied up in this stock the reason for this target or do you have a legitimate reason for this nummber?
No sorry, I only have 5% of my capital in it now. I sold two thirds of my stock @ .9 cents in the beginning of June to buy other stock. I still believe CIG will go up to those targets but I don't want to sit around and wait incase it doesn't or takes forever to do so. The only reason I think it will go up eventually (very quickly when it does) is because of what they have told the market in their reports and the fact deep sea drilling is not a viable option as what it used to be after what happened in the gulf of mexico and I like to buy as low as I can on the charts. I guess you could say I'm a bottom pincher lol.
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Another draw for the lottery!
Hope they strike something commercial,
even if only to recover some of my losses.
There is a report on the ASX today.
I seem to be unable to post the link.
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Up 100% on yesterday's open.
No announcement yet?
Still not interested?
I'm holding for the moment!
No announcement yet?
Still not interested?
I'm holding for the moment!
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http://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=01170505
The speeding ticket has been issued.
Just as I was reaching head of the queue!
Ain't that the way!
The speeding ticket has been issued.
Just as I was reaching head of the queue!
Ain't that the way!
