bobsson
26 Mar 2017
Roxi becomes Caspian Sunrise Roxi becomes Caspian Sunrise (CASP) from Tuesday 28th. The corporate merger has also been passed by shareholders and details of the share merger/ re- structure will be announced in due course.Now can we have lots of successful drilling and operational news please?DYOR
asilad
10 Jan 2017
Re: Not worried RNS - incompetent Would be putting it mildly. Absolute buffoons!
bobsson
10 Jan 2017
Re: Not worried RNS RNS today shows that operationally things are not going to plan and that delays are frustrating for RXP management. But given the known complexities of deep well drilling why move the equipment from A6 to A5 before completing the perforation operation at A6? So we now sidetrack A5 which in Roxi time is at least 6 months and then commence a 90 day test. Then move the equipment back to A6 to complete the perforation and commence 90 day test, another 6 months. Meanwhile we hope 801 cleans itself up over the next 8 months and complete a 90 day test before the end of 2017.Shallows doing good; W142 to be tested to prove a larger field, I then expect shallow well 808 to spud in the extended licence area and be completed by August and tested by end 2017.For me its the Baverstock merger and Kazakh admin delays holding back further funding, but even this should be sorted by end of H1 2017. So my end of 2017 targets A5 sidetracked and tested, A6 perforated and tested, 801 cleaned up and tested, A7 drilling ahead, W142 successful and tested, W808 drilled and if successful tested. Baverstock merger completed so Roxi have 100% (or 99%?) of the the assets, and a successful fundraising. If the above happens, there look to be opportunities to buy in here for a good profit in 2018.SP down at present to around 9.25pIMHO DYOR NAI
bobsson
05 Jan 2017
Not worried I am not worried by the lack of news. We know the corporate restructure has to be ratified by the various stock exchanges and agencies,therefore anything to do with bureaucracy, especially Kazakh, is going to take time. The restructure needs to be done before any fundraising, I am confident there is sufficient cash for the immediate requirements, not necessarily the cash to pay for A7 deep well. We can only hope that operationally things are going to plan, it is not always the case that RXP management keep shareholders fully informed as to how things are going.IMHO DYOR
bobsson
28 Nov 2016
Investor Presentation dated November 2016 now on Roxi website. You don`t see that very often and it is well worth a look.
bobsson
02 Nov 2016
Re: Price of oil Mac, Yes prospects of ROPEC coming up with a production freeze, let alone cuts, always a longshot. Plenty of oil supply around and storage nearly full, not a recipe for higher oil prices at present. I stated on another thread that I think its up to KSA to take the lead (they are to blame for low oil prices) and unilaterally cut production by 750k bpd on November 30th, with a hint of more cuts to come following a wait and see period.We shall see.
bobsson
02 Nov 2016
Re: RNS A6 Well success Mac, Too many false dawns with RXP, I think the market wants evidence to show how good the deep prospects are.We may just get an update of how the flow test is going before the end of 2016, perhaps in with the result of well 142 currently drilling.
MacPithy
02 Nov 2016
Price of oil Reality and smelling the coffee seem to be hitting the OP. We are now into Nov and the Opec meeting is this month so in media terms imminent!!!! This will cause the news flow to promote the doughters versus the blue sky optimists that OPEC will agree a production cap and that the members will comply. All oil producers going to come under more downward pressure.
MacPithy
01 Nov 2016
Re: RNS A6 Well success Well the market didn't take much notice on the RNS result any reason why ?
bobsson
29 Oct 2016
RNS A6 Well success Good RNS yesterday, all going great at deep well A6, with production casing/lining to be set and then on to a 90 day flow test. The Chairman has stated that A6 oil zones appear bigger than at A5, but A5 appeared to be over 100 metres continuous and and A6 appears to be in two zones. Hopefully A5 well will continue to clean itself up and a 90 day test can be done there too.Expect A7 to spud, and result of shallow well 142 in next 6 weeks. Shallow well 808 in the new extension area could also spud before end of 2016.Slow but steady progress now on the operational front.SP should start to motor when the corporate side of things are sorted with the Baverstock merger, lets have it sorted in 2016 please.DYOR
opulentia
19 Oct 2016
great result back to a solid base, waiting for the next big push , when A6 flow rates are confirmed, GLA LTH 2017 will be a great year for RXP
dearjohn
14 Oct 2016
Re: State of Play The slow progress is disappointing to put it mildly.The lack of unambiguous updates on the deeps is disgraceful.The comparison of shallow assets with company value suggested by Roxi is out of whack IMO because although they may be selling at local prices c.$10/bbl, the OIP isn't valued at that level.The pressure issue IMO is more to do with their handling of the excessive pressures, which seems to have been badly managed, rather than not enough pressure, but again the lack of detail from the company doesn't help.
MacPithy
14 Oct 2016
State of Play Past Max investor and a Roxi watcher the slow progress and the mismatch between deep well expectations and continuing lack of info( last operational update was May ). Plus Roxi appears to be promoting the value of the shallow wells to keep Roxi viable. Questions if there is enough pressure in the deep reservoirs to overcome heavy drilling mud pressures??? Surely there should have been some more news since May??? Or as per Max no news = bad news and eventually running out of dosh ??Just asking
dearjohn
08 Oct 2016
Re: baverstock, a6 bobsson, thanks for your thoughts, you seem to have a good handle on things here.IMO Oraziman controls (and probably owns much of) Baverstock and Vertom and therfore directly and indirectly owns c.65% of Roxi !I do hope Baverstock deal is done on a 'fair' basis, because there is too much incestuosness in the current set up, which could lead to unfair split. Assuming its done fairly though, the simplified structure would help provide clarity of ownership and aid investor sentiment through easier valuations.Valuing the company leads us back to the old chestnut of how to value reserves, OIP, etc. etc. With say 1.4bn shares after Baverstock deal and using your figure of 500mb as an example - (that may take more drilling even than the current 3 deeps to prove up in entirety but putting that aside for now) and using a figure of say $5 for OIP gives a value of $2500m = £2000m, the recent drop in sterling helps enormously here!With 1.4bn shares that leads to sp 143p - this seems high but does demonstrate the huge potential here.A5 and 801 have been reported as having 100m+ columns of oil, but they have been much more cagey with reporting on A6. Of course i'm hoping they can resolve the issues at A5 and 801 and get them to flow commercially. Long way to go but fingers crossed.
bobsson
06 Oct 2016
Re: baverstock, a6 dj, Some of the Baverstock consortium are also on the Board of RXP ( I think) or are connected in other ways. So you would think they would know the status of the deep drilling the same as the RXP board. So nothing to gain, or lose, by doing the merger now rather than waiting for all the deep drilling news. I would expect the Baverstock merger first, the question remains whether it will be a proportionate share of new shares to current BNG holdings. If Baverstock get 41% you could argue they get the benefit of the other licences for free, but again these are small beer. So hopefully for around 400 million new shares the new Roxi will have 99% of BNG.That would tidy things prior to announcing the deep drilling results.I think the deeps will contain at least one giant oilfield (500mb), I think the Board already know what is there. It appears all three wells have struck oil, and the company expects each to flow commercially. The company issues big news to suit themselves, the were shouting as soon as A5 hit first oil. They have not officially announced 801 or A6 have hit oil (as in shouting from the rooftops) , but it appears they have. I would expect A6 is now in the payzone, and that A5 and 801 will continue to clean themselves up. But the big announcement will come after the Baverstock merger is done.I expect a Chinese oilco will make a bid within 12 to 18 months when further appraisal wells have been drilled in shallows and deeps.IMHO DYOR NAI
