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

Cheers dexter,
Im runing out of funds today! I will look as AST. Hope goo will come good, done a bit of research and the jungle block.
wilbs

stockbunny,
CSH was the epic for Collins Stewart, they are not connected.
Dexter

If that is the case I suggest you speak to AM as this chart
looks pretty horrible on face value - as you can see it is coming up
as Caspian.

dexter,
I had a quick scout on the other side and apparently ast are hard to trade, hence no volume. The shares were suspended last year pending an announcment. The highest they have been is 8p. I will give that one a miss I think.
wilbs

stockbunny,
I think that chart must be wrong,read the following, it should clear it up.When i put in for an all data chart on the other side it onlt gives from Oct/Nov 2004.

Dexter

Caspian Holdings Plc (Caspian or the Company), the shallow field oil and gas exploration and production company focused on Kazakhstan, announces its intention to float on AIM in early November 2004. Hoodless Brennan & Partners plc is acting as broker and Grant Thornton Corporate Finance is acting as nominated adviser for the Placing in which Caspian has raised just over 4m, at 23p giving the Company a market cap of approximately 18.9m.
Caspian was incorporated in May 2003 for the purpose pursuing oil and gas developments around the Caspian Sea and most specifically Kazakhstan. Caspians entry was through the acquisition of Taraz LLP (Taraz), an operating company that owns the licences, leases and other assets that comprise the Zhengeldy oil field in Kazakhstan. Caspian currently holds 70% of Taraz and has entered into contracts to acquire the remaining 30%. The Zhengeldy field has reserves of 13.2m bbls: proved reserves of 9.8m bbls and probable reserves of 3.3m bbls.
The strategy of the Company is to focus on the shallow oil fields that offer the benefits of lower exploration and development costs, shorter lead times to production and higher returns on funds invested than are possible from deeper oil deposits. Caspian acquired its share in February 2004 and initial production began in September 2004. The Zhengeldy field is being developed to support full commercial operations and the Company expects to achieve over 1400 bbls/day from its five wells. A further ten wells are planned for 2005, which is expected to bring targeted production to 4300 bbls/day.
The Zhengeldy oil fields are located just 18km from Makat, the central gathering and oil treatment stations for the international transit pipeline. In the short term, oil will be trucked to Makat for initial processing and storage, before entry into the pipeline.
A proportion of the funds raised will be used to increase production at Zhengeldy and pursue other shallow field development in Kazakhstan and the area around the Caspian Sea.
Caspians management team has extensive experience of oil exploration and development, as well as project management and resource financing. Executive Chairman Michael Masterman is currently President of Northsun Italia SpA and was previously with Anaconda Nickel, as Executive Director, where he gained substantial experience in negotiation and capital raising. Dietmar Greil, Chief Operating Officer, has over 20 years experience in oilfield engineering and spent 15 years operating in the former USSR. He is a specialist reservoir engineer and has been head of reservoir management at both Statoil and Chevron. Mr Greil, through a private company Roscor International was one of the first entrants into the Soviet Union Oil and Gas industry in the early 1990s.
The Board is supported by two non-executive directors, UK-based Michael Garland brings 10 years experience in the oil and gas industries, with Star Energy and Tullow Oil and Malcolm James with over 15 years resource sector experience who is also non-executive director of Eureka Mining plc.
The Caspian team also benefits from having retained the services of the Taraz Chief Executive Officer, Igor Borissov, and the Taraz Technical Director, Bolat Akhmetov. They bring substantial experience of operating in Kazakhstan as well as drilling and exploration experience.
Michael Masterman, Executive Chairman of Caspian, comments, Our team has been delighted with the speed at which we have brought our initial wells into production and we firmly believe we have a development model that can bring similarly quick returns from other assets in the Zhengeldy field.
The Placing will provide us with the additional capital we require to press ahead with our strategy and the AIM listing will allow other investors to share in our already proven success.
Kazakhstan is rich in natural resources, including oil and gas. It is rapidly growing in stature as an oil-producing region, with significant reserves both on- and off-shore. The government is actively encouraging foreign investment with political and monetary reforms.
~ Ends ~

For further information, please contact:

Caspian Holdings Plc Hoodless Brennan Parkgreen Communications
Michael Masterman Bill Sharp Justine Howarth / Ana Ribeiro
T: +447791288381 T: +44 (0) 20 7510 8560 +44 (0)20 7493 3713

Caspian Holdings plc - Directors
Name Role
Michael George Masterman (Executive Chairman)
Dietmar Greil (Chief Operating Officer)
Michael Victor Garland (Non Executive Director)
Malcolm Raymond Scott James (Non Executive Director)

Have a look on the comdirect website and it will show you the real chart. Money am have got it wrong!!
wilbs

Thing is Dexter if people on this board read this thread they
are likely to put up a chart on THIS site not ADVFN - so if
it's wrong - that chart coming up on this site - it's worth pointing
it out - but I'll leave it with you.

Errr........

CSH used to belong to another Company, Collins and Stewart Holdings PLC.

Hence the graph.

That information refers to them and not Caspian.

It was unlisted way back when, and the CSH epic was given to Caspian Holding in November when they floated.

That answers that, any previous reference to Caspian prior to floatation does not exist.

Hope that helps.

thanks for that sww.
dexter

dexter01 - I am a recent follower, albeit not an investor, but only because I could not buy any.

I am watching this to see what occurs and will probably have some if they drop a bit more.

All the best, I usually like your posts here and elsewhere..

Morning all,
Well, another blue start!, i can only see this on a steady increase now as we are due a steady newsflow with all these new wells and increased exploration. Just work out 8-10% increase weekly until the interims in march!, not out of the question at all, and with so few shares with PI`s there is going to be a shortage of stock. Just a reminder of the share distribution:
**************************

Out of 83.84m shares.
2 Directors M Griel & M Masterman hold 23.5m.
John Kahlbetzer 7.35m
John Dieter Kahlbetzer 5.54m
Beronia Investments 7.40m
Lauri Macri 5.8m
Rab Capital ? 1.7%
Hoodless ? 1.77%
Gartmore Inst clients ? 1.97%
Arci Pty ltd 3.73m 4.45%

That equals about 57.5m shares held by directors and institutions plus 2m by the Consultants = 59m roughly so 24.5m amongst private investors

*******************************
For any newcomers who have`nt seen the prospects, see below.

NEWS 21st January 2005
Commercial Oil Discovered in first 3 post IPO Wells

Further to the announcement on 29 November 2004, Caspian Holdings Plc (AIM:
CSH), the oil and gas exploration and development company which focuses on
Kazakhstan and the Caspian sea, has successfully drilled and brought into
production the first three wells in a seven well programme.

Each of the new wells - 114, 112 and 111 and the previously drilled 113
discovered and confirmed commercial oil reserves in the Jurassic level. Key
results are set out below:

Well 113 (pre IPO)
* Depth 630 metres
* Completed Aug 04
* Oil pay 13 meters
* 3 Levels: 308-302 m, 347-344 m, 271-267 m
Well 114
* Depth 600 metres
* Completed Nov 04
* Oil pay 9 meters
* 2 Levels: 348-354 m, 271-274 m
Well 112
* Depth 400 metres
* Completed Dec 04
* Oil pay 16 meters
* 2 Levels: 229-233m, 299-311 m
Well 111
* Depth 400 metres
* Completed Jan 05
* Oil pay 13 meters
* 4 Levels: 211-212 m, 219-220 m, 225-233 m, 303-306 m

RNS 26 January 2005 CASPIAN HOLDINGS PLC

Confirms high quality oil production at Zhengeldy and commences Export Facility Construction. The company has also commenced construction of its processing and export storage facility at the "Makatmunaigas", a division of national oil and gas company KazMunaiGas at the Eastern Makat 30km from Zhengeldy field.

Just seen this on another bb: apparently not from caspian, but another co. in the area.
Dexter

transportation infrastructure. Management believes that the Company is
strategically well placed to serve its existing markets, and that the proposed
pipeline linking Kazakhstan with China, announced in May 2004 will, if
completed, provide improved access from Kazakhstan to the potential Chinese
market.

The Caspian Basin has one of the world's largest hydrocarbon reserves. The
extraction, production and transportation of oil and gas are a significant part
of the Kazakh economy. Kazakhstan has explored reserves of approximately 28
billion barrels of oil and condensate. Kazakhstan is not a member of OPEC.

This is a follow on from the above, although the name is spelt wrong,



Kashagan will be second largest in the world. The field is so big that new pipelines will be required to deliver the oil to western markets. A neighbouring onshore field is producing 271,000 barrels a day, making it the fifth largest in the world. This oil is feeding into existing pipelines running to the Black Sea port of Novorossiisk from where it is exported in tankers.

this is where were working could be the secon largest in the world
wuth a neighbouring fild already pumping out 271,000bpd

question..
would we be able to use other peoples pipelines??
for a fee ofcourse..

this can only suggest there is a heck of alot of oil here..

This is taken from the other side from a well respected poster who puts in a lot of research.
Dexter

ASSET VALUATION

OK, lets start by responding to a deramper comment of last week that went something like, share price is not about valuation, its about demand and supply. That comment can be true in an over-excited marketplace where a share gets ahead of itself and the share price is not underpinned by true company valuation. However, the converse is true with CSH. The asset value is significantly ahead of the share price. The suppressed position is largely as a result of the company (until 10 days ago at least) being one of the best kept secrets on the stock market.

I cant say Im an expert oiler. I do however believe business principles apply regardless of asset. To simplify the Zengeldy position I use the housing market as a simple analogy. A housing developer buys a parcel of land. If it transpires that the number of houses that that developer can get on that parcel of land increases with no detrimental affect on valuation, the profit generated, or the value of that parcel of land increases. Equally, if the housing market moves, and the selling price of the houses increases, then the resultant profit, and again, the value of that parcel of land increases.

This brings me to Zengeldy, the Ecopetrol estimate, and asset valuation.

Ecopetrol, the company that prepared the Competent Persons Report for the Prospectus, estimated a technical value range for the asset at between $25m and $100m. These figures exclude any fixed assets. They go on to refine their valuation as being in the order of $50m to $75m.

Reading behind these numbers, Ecopetrol define the minimum value of the asset stating if the property is purchased, then the purchase price is the minimum value assigned to that property by the purchaser. We are well beyond this stage. I have not considered the $100m valuation, since any comment made would lose credibility. I want to be as realistic as possible.

That then leaves the range of valuations between $50m and $75. I believe from drilling reports to date, from the fact that pay zones are greater than anticipated, and from strike rates, that we are at the top end of expectations. I would like to base the following therefore on an asset valuation of $75m.

However, for those cynical ones amongst us, Ill start with $50m since it sets a scene.

At $50m technical value and an exchange rate of $1.89 to the pound (todays rate) and with 78.4m shares in circulation, that provides a value of asset per share of 34p. The company also has cash in hand of 4.4m, and presumably other assets. I have assumed these other assets to be minimal and have taken cash per share therefore at 6p. This gives a value of 40p per share.

Now, take a technical value of $75m and adopt the same perameters as above. This results in a value per share including cash of 57p.

AND THE UPSIDES?

Take a look initially at the Ecopetrol basis of valuation. They state an oil price from the official BRENT (US$38/bbl) July 15 2004 has been assumed, and discounted to US$28.50

The first major change is that oil quality has been discovered to be WTI quality, which at present trades at $2.40 a barrel more than BRENT.

Lets ignore the oil price position for the time being and just look at this quality issue. Arguably, this should be easier to extract and therefore there should be a saving on production costs. I have ignored this saving. The price premium however, is all bottom line. The company will have a 30% Corporation Tax bill to pay, but that is it. The result is an additional $1.68 per barrel straight to bottom line.

Now consider the original basis for valuation. All valuations are a product of profit. If the field were not generating profit, it would have no value. Now, lets assume that the valuation is based upon 9.8m barrels of oil actually generated. It is safer to use this lower figure since the higher production may give a distorted end result.

At 9.8m barrels total, and a valuation of $75m, this would suggest that the profit per barrel in arriving at this
valuation is $7.65. If this is being increased by $1.68 due to better quality oil being found, then the resultant increase in profit and therefore valuation is 22%. If the $75m is based upon a 13.2m barrel total delivery, then the profit per barrel will be $5.68, and the resultant increase in asset value 30%.

Lets ignore the $28.50 assumption at this stage, and consider the impact of the above.

Take the $50m valuation which equates to 34p per share. Uplift this by 22% and add 6p for cash and incidentals. Asset value per share equates to 47.5p.

Take the $75m valuation, uplift for oil quality and add cash and incidentals, and you arrive at an asset value per share of 68p.

WHATS NOT INCLUDED?

I dont believe I can be accused of ramping with any of the above.

Lets look at the upsides on the asset valuation. If we were talking of a property company, this asset approach would be a dangerous one, since until recently, many have traded at a discount to net asset value. This is not the case for oilers.

The company is new to the market and will develop a reputation. It isnt there yet, but a few more positive RNSs and this will trade at a premium to net asset value on potential upside alone.

The oil price assumed in my calculations above is on the basis of an average across the 8 year extraction term of $28.50 Brent plus a $2.40 Texas Intermediate weighting resulting in $30.90 a barrel. Lord Brown of BP states that the days of the sub-$30 barrel are gone. It will be interesting to see BP accounts shortly, or indeed examine some of the other major oilers to establish how they are now valuing their asset base moving forward. CSH will certainly be seeking to revalue their own asset since this will have a major affect on their virgin accounts and their standing in moving forward. I have a suspicion that the Ecopetrol estimate was used in purchase negotiations (although this is completely unfounded), and that CSH will be looking to re-establish asset value and reserve base by March. I am fully expecting a company re-rating at this time.

Estimates of reserves are not yet confirmed. From information provided to date however, signs are more than encouraging, and it is likely that the Ecopetrol assumptions were conservative. This again, will result in a reappraisal of the asset value and consequently, the company share price.

The extension area negotiations are I suggest in an advanced stage and news is awaited. This is not factored into the valuations above, which are trading at a discount to asset value. With the potential upsides that this will offer the company, this will bring a large premium to share price when it happens.

wilbs,
do you listen to virgin radio?, if you know any good jokes there is 25k up for grabs. check there website www.virginrado.co.uk

dexter,
The best joke I know is Petrel Resources!!

I listen to virgin sometimes but Radio 2 is my main choice.I may have a go, the web is full of great jokes.
Have you entered?
wilbs

wilbs,
Very cutting!!,yes i have and i`ll probably enter a few via text as well. I was lucky enough to win a holiday to Beverly Hills 2yrs ago and they did`nt skimp on luxury, with dinner thrown in at the Beverly Hills Hotel, trouble is it spoils you!!.
dexter

dexter,
Blimey!! Beverly hills eh. Thats where I was planning to retire on my profits from PET but I guess Diss will have to do. Ive not had a hol for 10 years ang that was when I lived in spain. Think I better treat myself. I am currently doing some research on a few companies I think may have some great potential over the next few years. I would like your opinion, I may start a new thread on them or just post on one you frequently use.
Oh well, back to the hotel Diss for my egg and chips!!
wilbs