I think it`s about time CSH had a thread, an AIM oil co. that is producing oil and quality stuff at that. These are vastly under-valued, market cap. 30 mill., they are going up on news NOT hype. check them out.
Dexter

Bankone,
I had to buy twice yesterday with hoodless brennan and had to call to buy. There was some mm buying yesterday. They want the stock badly and will try everything in the book to get them. Today will be interesting imho.
wilbs

csh in the press today




Production starts in Zhengeldy oil field


By OGJ editors

HOUSTON, Jan. 26 -- Caspian Holdings PLC reported it has started production from Jurassic pay in three wells in Kazakhstan's onshore Zhengeldy oil field.

The wells, Nos. 114, 112, and 111, are part of a seven-well drilling program. Caspian Holdings didn't disclose production rates.

Well 114, drilled to 600 m TD and completed last November, encountered 9 m of pay in two intervals: 348-354 m and 271-274 m.

Well 112, drilled to 400 m and completed in December, found 16 m of oil pay at 229-233 m and 299-311 m.

Well 111, also drilled to 400 m, found 13 m of oil pay at 211-212 m, 219-220 m, 225-233 m, and 303-306 m. It was completed this month.

An earlier well, No. 113 completed last August, was drilled to 630 m TD and encountered 13 m of oil pay at 308-302 m, 347-344 m, and 271-267 m. And Well 123, drilled last October on the flank of the structure, had high shale content and wasn't completed.

The four wells were perforated at the lower levels to generate initial production volumes. Caspian expects to increase production rates as shallower intervals are brought into production and warmer weather allows construction of new flow lines and field equipment.

Caspian Holdings plans to drill deeper Triassic sections of the reservoir. The next four wells are slated for completion by the end of March. The company's goal is to increase production to 4,300 b/d by yearend


http://ogj.pennnet.com/articles/article_display.cfm?Section=ONART&C=DriPr&ARTICLE_ID=220201&p=7




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http://www.oilbarrel.com/news/article.html?body=1&key=oilbarrel_en:1106787600&feed=oilbarrel_en

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The Times

January 27, 2005

Smaller stock to watch



Caspian Holdings, the AIM-listed oil and gas explorer floated at 23p in November, surged 12p to 47p on confirming high-quality oil production at its Zhengeldy field in Kazakhstan. Caspian said that the characteristics of the oil, which is low in gravity and sulphur content, with good viscosity and minimal impurities, made it suitable for export. It also announced the start of construction of an adjacent processing and storage facility.

wilbs

Morning wilbs,
I use comdirect and apart from a few times when the sp was all over the place i could have traded easily on line although quantities did vary.
Another good day today?
Dexter
just wish i had had the funds to deal evry time i did a dummy trade!!!

Hi dexter,
thats always the case!! Hoodless brennan are their brokers so maybe thats why. I had the same problem with paf yesterday. Imagine what it was like before internet dealing. Nice early buy gone through. A good day ahead.
wilbs

Found this on Oilbarrel.

27.01.2005
Caspian Holdings Braves The Cold To Keep The Zhengeldy Development On Track
AIM-quoted Caspian Holdings isnt afraid of a little cold weather. Despite temperatures of down to minus 40-degrees-Centigrade, the company has managed to drill, complete and put into production three new wells on its Zhengeldy field in Kazakhstan. Working in the depths of the Kazakh winter is not for the faint-hearted.

We had to stop building new flowlines between the wells because the ground is frozen to about 15 feet below the surface, executive chairman Michael Masterman told oilbarrel.com. We also have to be much more careful about the water content in the oil in these conditions because, of course, the water can freeze. However, the drill rig hasnt stopped and we have been able to make good progress on the ground despite the weather conditions.

The three shallow wells plus an earlier well, number 113, drilled before the companys November IPO each struck commercial quantities of oil in the Jurassic. A further well, number 123, drilled in October on the flanks of the structure, was not put into production because of its high shale content.
The low API oil also has low sulphur and mineral levels but will require some processing to reduce the salt content to make sure it is of export quality.

Importantly, the companys licence terms include export rights so it can access the higher prices of the export market. News of the oil quality impressed the market, with Caspians shares rising 6p, or almost 17 per cent, to 41.5 pence each in morning trade.

Construction work has already started on a US$300,000 processing and export storage facility some 30 km away at the Makatmunaigas site, a division of national oil and gas company KazMunaiGas. The facility should be completed by the end of May and Caspian expects to move its production from the domestic to the export market early in the third quarter.

Caspian has already started work on the first of the next four wells in its programme, which will go a little deeper to target the Triassic. These shallow wells can be sunk quickly and cheaply and the drilling programme should be completed by the end of April.

Each well costs around US$320,000, which is very cheap, said Masterman. Its part of our strategy to focus on low capital cost projects so the rates of return are far higher.

Production rates from the wells will increase with the arrival of spring, when new flow lines and field equipment can be installed. The company has a target of producing some 4,300 barrels per day by the end of the year.

Caspian Holdings is keen to add to beef up its position in the country. There are a lot of shallow oilfield opportunities in Kazakhstan, said Masterman. Its a prolific hydrocarbon province and theres a lot of scope to expand the portfolio. There are more than enough opportunities to keep us busy here for the next few years.

This one-country focus is a key part of the companys strategy, with Masterman keen to steer clear of the jack of all trades, master of none approach of some E&P players.

Some companies dip their toe in all over the place and are always drifting off to the next best thing, said the Caspian boss. We plan to stay focused. If investors want exposure to different countries they can build their own portfolio with a range of holdings in different companies. But with us they get focus and transparency in a proven hydrocarbon province.

The Caspian region has been a successful proving ground for other London-listed E&P companies, among them Burren Energy, with its successful Burun project in Turkmenistan, and PetroKazakhstan, with its drillbit-to-refinery business. As always, however, the key to success here is keeping a lid on costs, avoiding debilitating legal wrangles and securing access to export routes

is that you wilbs on the "other side" with another digit on your name?
dexter

dexter,
diss isnt on the other side, its in norfolk!! Yea, its me. I keep reading through all them posts but its got a joke now.
wilbs

wilbs,
The trouble is, when you start reading them they become addictive!, i`m pleased with the movement today as there is`nt too much profit-taking so i think now it will move steadily north until the next RNS and then, if + another jump IMO. A little stock to watch could be MOI, mrket cap. 7.7m with an order book of 10m. they`ve made aquisitions and reorganised the business and IMO is worth keeping an eye on.
Dexter

dexter,
I know what you mean. I keep reading them just incase there is a bit of news but there never is.Its right what they are saying about the mm's need the stock and that is why we have not had a huge increase in the sp. Investors know the potential of this company and are prepared to hold on.All IMHO of course!!
Are you still watching pet? I will not bother now, there is more potential with other companies than pet.
wilbs

wilbs,
I`m keeping an eye just in case they get one, but the longer it drags on the less likely IMO, apparently Dome got a feasibility study on S & L, and the developement is contract is after the elections now.Last year i was too focused on PET and missed several co`s. that could have made me plenty ie. AEN, PCI(from 7p ish to the high)and MXC. although i did make on PET, but was it worth the sleepless nights?
Dexter

dexter,
IMHO, even if they get one contract I dont think we will see the highs of 160p again. To me the momentum has gone now. It wasnt worth the sleepless nights, there is more opps out there.Im in 4 good ones. COP,CSH,SEO,PAF and they are all doing well.
wilbs

Forgot BFC!!
wilbs

wilbs,
what`s the deal with COP ?, i can`t logic any reason for the rise, is`nt it a bit like PET, ie mainly hype ?. please enlighten me.
dexter

dexter,
I wish I knew!! The only news I have found is that a number of major oil companies have expressed their interest in COP's
namibian prospects and also the chinese. I bought into them at 27.5p so I am showing a good profit. If the sp goes down I will topslice but am happy to hold.If I find another good one then I may sell. Over on the other side they are talking of 100p+. I can't understand why it keeps rising every day on speculation.At least COP have contracts unlike pet.
wilbs

A little light reading from a website I found in relation to Oil in the Caspian sea. Which is more connected to CSH rather that COP


"The United States currently imports 51 percent of its crude oil—19.5 million barrels daily. The Energy Information Administration estimates that by 2020, the United States will import 64 percent of its crude—25.8 million barrels per day.1 The United States buys much of its oil from Ven-ezuela and the Persian Gulf; Europe buys from the Persian Gulf and the North Sea. For years Europe has bought natural gas from the Soviet Union and Russia, but Eurasian oil has made limited inroads into the European market. This may change. The Caspian Sea appears to be sitting on yet another sea—a sea of hydrocarbons. Western oilmen flocking to the area have signed multibillion-dollar deals. US firms are well-represented in the negotiations, and where US business goes, US national interests follow.


Well-dressed urbanites pass stores with signs in Russian, English and Azeri in downtown Baku.

The Caspian Sea basin has long been a source of oil and natural gas. The fire-worshipping Zoroastrian religion was founded on the western shores of the Caspian as Zoroastrians built temples around local pillars of fire fed by escaping natural gas. The two great pre-World War I oil fields were in Texas and the Caspian Sea region of Imperial Russia. After the war, when civil war raged between Russian Whites and Reds, British forces landed in Batumi in a failed attempt to influence the future of Caspian Sea oil. During World War II, Adolph Hitler launched Operation Blau to capture the Caspian Sea oil fields.

Now that the Soviet Union has dissolved, Caspian Sea oil draws international attention once again. Western oil companies, hoping to find new reserves at a reasonable cost, have cut deals with Azerbaijan, Kazakhstan, Turkmenistan and Russia. Caspian region oil reserves might be the third largest in the world (following Western Siberia and the Persian Gulf) and, within the next 15 to 20 years, may be large enough to offset Persian Gulf oil. Caspian Sea oil and gas are not the only hydrocarbon deposits in the region. Turkmenistan's Karakum Desert holds the world's third largest gas reserves—three trillion cubic meters—and has six billion barrels of estimated oil reserves.2 Other oil fields in adjacent Uzbekistan, Tajikistan and Kyrgyzstan further increase the known reserves of cheap energy available to oil-dependent economies and are drawing outside investors.

The presence of these oil reserves and the possibility of their export raises new strategic concerns for the United States and other Western industrial powers. As oil companies build oil pipelines from the Caucasus and Central Asia to supply Japan and the West, these strategic concerns gain military implications. The dominant role of the Middle East energy supply may be offset by new suppliers operating from an even less mature and stable environment. The uninterrupted supply of oil to global markets will continue to be a key factor in international stability.

Various political, economic, sovereignty, military and cultural issues could threaten uninterrupted delivery of oil from the Caspian region. Should the United States continue to play a vigorous role in supporting regional stability, US Armed Forces will need to understand the political, economic and cultural dynamics, as well as US interests in this region where Western oil companies already have signed contracts potentially worth more than $100 billion. Hopefully, US forces will be spared future regional presence beyond advisory and assistance roles since effective military presence would require basing rights and significant investment to develop theater infrastructure and establish forward supply and staging areas.
During the Soviet era, Soviet oilmen extracted Caspian Sea oil mainly for use within the Soviet Union and Warsaw Pact. The known Soviet Caspian Sea oil sites had been producing for a century and were nearing depletion. Soviet oil exploration and exploitation concentrated on sites that were more geographically and technologically accessible. However, recent surveys reveal oil reserves in the Caspian Sea that could significantly boost the economies of its five bordering states—Russia, Azerbaijan, Iran, Turkmenistan and Kazakhstan.
But it takes money to make money; in this case, money to exploit the difficult-to-reach deposits, money to remove the hydrosulfuric and mercaptan contaminates from the east shore oil, money to deal with the region's high geopressures, money to repressurize some of the prematurely abandoned fields and money to move oil to the consumer. Since the Soviet Union did not develop advanced technological solutions to these problems, Western money and technology are now key to exploiting energy in the region. Predictions abound and most are probably overstated. Still, if Western oil companies are able to begin producing oil from fields in the Caspian Sea, Central Asia and Russia, almost five million barrels of oil per day could be pumped from these fields into the open market by 2010.

More than 40 upstream projects in Kazakhstan and Azerbaijan involve 11 US companies, 24 other Western companies and two Russian companies. The total value of these projects exceeds $100 billion. Companies such as Exxon, Amoco, Mobil and Chevron were negotiating additional contracts in the region and were involved in upstream exploration and production projects as well as various downstream activities—pipeline development, infrastructure development, and environmental restoration and repair. Oil profits represent the likely major revenue for the countries of the Trans-caucasus and Central Asia for the next 15 to 20 years. Oil revenue could also attract other Western business to the region, which should help develop infrastructure and diversify their economic base. US oil companies, smaller oil support and service companies, and engineering and environmental firms would benefit initially, but secondary industry attracted by the region's economic potential could also benefit.

Now if that captured your imagination lets hope COP and CSH have a gusher of a day tomorrow.
Read somewhere OPEC 400,000 bpd short of their quota - a nice hole to fill with some positive FLOW - (sorry for the pun)

Thanks for the bed time reading bankone!! I am in CSH & COP so I agree with you, lets hope tomorrow brings another great day. I cant see how long COP can keep going up on the basis of no news. Surely the sp will drop if no RNS is not announced in the next week?
CSH on the other hand is different, they have the oil and when the rest of the wells are drilled and if they strike gold(oil) then the sky is the limit? I think we will see many updates from CSH over the coming months. Unlike pet who's sp went up on hope without even bringing a drop of the black stuff to the surface.

wilbs

Todays press round up.

Oil explorer CASPIAN HOLDINGS, which is set to export from Kazakhstan. gushed 12p to 47.5.

http://www.thesun.co.uk/article/0,,9-2005041375,00.html


Caspian Holdings soared 12p to 47p. The oil and gas exploration company confirmed high-quality oil production from its Zhengeldy field in Kazakhstan.


http://www.thisismoney.co.uk/investing-and-markets/tips-and-tactics/article.html?in_article_id=397470&in_page_id=23

wilbs

Just a bit of background info. on the area, a little old but still very relevant IMO.
Dexter

OIL
Kazakhstan is the second largest oil producer among former Soviet republics after Russia, with output of 693,000 bbl/d in 2000. Almost half of Kazakh oil production comes from three large onshore fields: Tengiz, Uzen, and Karachaganak. Kazakhstan has been eager to tap its production potential of over 3 million bbl/d, and former Prime Minister Nurlan Balgimbayev (now the head of Kazakhoil) has estimated that Kazakhstan could earn $700 billion in revenues (including taxes) from offshore oil and gas fields over the next 40 years.

Kazakhstan sits astride the northeast portion of the Caspian Sea and claims most of the Sea's biggest known oil fields. Kazakhstan's combined onshore and offshore proven hydrocarbon reserves have been estimated to be between 9 and 17.6 billion barrels (comparable to OPEC members Algeria on the low end and Qatar on the high end). Although only a minor world oil exporter in 2002, Kazakhstan is poised to become a more significant player in world oil markets over the next decade.

Kazakhstan produced approximately 939,000 barrels per day (bbl/d) of total liquids in 2002 and consumed only 140,000 bbl/d, resulting in net exports of
799,000 bbl/d. Markets for exported Kazakhstani oil are growing rapidly, with oil being delivered to world markets through the Black Sea (via Russia) and the Persian Gulf (via swaps with Iran), as well as some additional traffic northward to Russia via pipeline and rail.

In order to develop its production, Kazakhstan has opened its resources to development by foreign companies. International oil projects have taken the form of joint ventures, production sharing agreements (PSAs), and exploration/field concessions. By far, the largest of these is the Tengizchevroil joint venture. In April 1993, Chevron concluded the $20-billion Tengizchevroil joint venture to develop the Tengiz oil field, with 6 to 9 billion barrels of estimated oil reserves. The Tengizchevroil joint venture produced 190,000 bbl/d in 1999, and production could increase to 340,000 bbl/d by 2002. Given adequate export outlets, the Tengizchevroil joint venture could reach peak production of 750,000 bbl/d by 2010.

Hi dexter,
great post above, very informative. I see on the csh thread over the other side, they are talking about vog. Have you any thoughts on them? I got out of cop with a 74% gain. After some research I bought into kmr. Looks a good company and a good punt. I am thinking about going into vog. May see if the price comes down first.
wilbs

wilbs,
Well done on your profit from COP,it was a bit of a shock to see it plummetquite so much!,i`ve been watching VOG from day one and been tempted, but at the time had all my dosh in PET. I think they have great potential , but like you, i`m waiting for them to drop a bit or wait on positive news. I don`t know much about KMR, apart from they are on a good run at the moment.

Two new co`s., PWC and MOP, i`m just looking at the score with them, the way things are in the natural resouces sector either could have a run !.

Found this on the other side, apparently equates to 504mbpd.
******************************************************************
28.01.2005 Kazakhstan plans to extract 63 million tons of oil this year


Kazakhstan today

Kazakhstan plans to extract 62-63 million tons of oil this year 2005. Vladimir Shkolnik, minister of energy and mineral resources of RK, has stated this today, January 28, in Astana after a meeting with the parliament's senate deputies, KZ-today correspondent reports.

V. Shkolnik has explained that in 2005 the small oil production volume was defined "taking into consideration real plans of the companies."

Currently, the minister has observed, "the confirmed oil reserves of RK equal 30 billion barrels. The republic is among the top 15 on the confirmed reserves." "We hope that during the development of the Caspian shelf our reserves can reach 70 billion barrels and we will enter the top ten," - he has stressed.