Sitting around 1.25p, approx half of the 2.6p peak from the last 12 months.
I'm hoping we're knocking on the bottom and looking at a climb up again soon, thus couldn't resist selling elsewhere to buy a few more 100,000s shares in Ascent today. £28million market cap, maybe fair value today, but medium term must surely trend upwards.
Permits, expansions/new territories, takeovers etc, I'm happy to have added more today and optimistic we'll see valuation grow.
prime ministers staff went well he says.
Hopefully the Environment ministery will be requesting those soil samples Ascent have already prepared to send them. With luck IPPC permit next week or week after.
Then it will be interesting to see market reaction. Permit to build the new gas processing plant will unlock the full potential of the gas field. The market should take that on board along with the fact that the Slovenian firm "Petrol", who already have a 12.5% stake might then make a bid. Seems to make sense.
advisor yesterday regarding the time it has taken to process Ascents application for the IPPC license. Note Ascent now do not need this for about a year, however due to the time since the application it is felt that it is still taking far too long. See 8 mins 50 seconds into this interview with the CEO (Colin) yesterday morning.
Yesterdays meeting with the PMs advisor is just window dressing, IMO.
So CH, you told the advisor that Slovenia is missing out on E100m in the next 10 years due to inefficiencies in their EA.
Why are you deliberately underplaying the IPPC requirement.
Saying that it is not needed for the next year because we can ramp up production to INA by a factor of 3 or 4 times to what is current being processed, maybe a bad strategic move.
As an accountant you know that untreated gas is 40% lower in value than the treated variety.
Just think 1m Euros times 40% is an extra E400,000.
INA also is a sole sales source.
That IPPC also gives you other options and also makes AST far more valuable. (Book value will increase substantially once awarded, now look at your current lowly Mcap).
Just saying the IPPC is very important for Phase 2 but is not immediately relevant, just shows your priorities in a bad light, IMO.
You are indicating that the EA can just take its time as you will be too busy with Phase One.
A bad move IMO. While you have the momentum of change going in your favour force your message home.
You NEED that IPPC document now as it is a VERY IMPORTANT document.
IMO, go and get a proper PR firm to do the job that you obviously cannot after waiting 10 years.
It is time to embarrass the EA and the Slovenian Government, while the Country feels it needs its cheap gas in a cold Winter.
Stop putting this on the 'long finger'.
Sometimes a friendly 'kick in the back side' wakes people UP to achieve their full potential.
More likely that someone is covering their back against a possible FCA investigation into this share price performance in the last few months.
It is time to clean UP the AIM septic tank of share trades and someone is about to get tough after that last Carillion fiasco. (The only fund the Carillion BoD did not raid was the Directors pension pot. Surprise, surprise....).
Do accountants get struck off if they misbehave like Doctors or do they just lose much valued financial TRUST?
why the sp is up. Page 20 of the recent capital Oil market document says they are investigating shallow oil reservoiurs. CEO has tweeted refering to oil articles recently which was a bit odd. Putting 2 and 2 together and making 5 maybe? Who knows?
Plc that has substancial interestes in oil/gas and petrol stations throughout Europe.
I believe Ascent will be bought by petrol and they will develop the field more quickly making Sleovenia more gas independant. Slovenia currently imports 90% of it's gas.
IMHO bid of around 3.5p a share in due course.
Presumably you also believe in UFOs, the Loch Ness Monster and Bigfoot?
The SP has little bearing on the company's ability to secure a standard loan from a lending house DDD. Whilst the NAV will be considered along with other factors the main criteria will be sustained production, sustained income and confidence in the company's ability to repay the loan and interest in full and within agreed terms. They previously had agreement in principle for a loan after all - now their concept is proven it should be even more secure.
It could, in fact, be one of the reasons why the road map has gone off at a tangent right now and why AST are looking to bring in more income-financed production capacity instead of going hell-for-leather into borrowing for the scrubbing skid.
Maybe they don't like the way the SP is being manipulated either.....
Can't buy into your II take over thinking just yet.
Is the strategy to shake off the PIs and then get the IPPC loan set up at the original 1p CLN value.
Will it be Henderson / Darwin or another all lined up, just waiting in the wings. Get ready to strike with the £10m loan and a 1p share deal.
For all that I doubt if he understands very much about how the industry works he should definitely have been aware of his next immediate steps upon receipt of the appeal through his letterbox. I can't see how waiting for a third party to act first would be prudent but, hey-ho.
However, in his favour he has pre-empted the anticipated environmental requirements and gone ahead with them off his own bat - if my understanding of his sentence is correct.
There's absolutely no doubt that he's changed the production plan now. If he truly sees mileage in increasing production at a 40% discount and paying for that increase from sales which have already been 40% discounted then there must be a reason for it. For the moment I cannot figure out what.
For me it's a slow-burner with the SP heading sub-penny before the turn around, but I am still confident of a long term future for AST.
It looks like the speculative money has moved into cryptocurrencies.
At least there you know that you have little chance of mining success when you start and can only blame yourself for losses.
IMO the tell sign here is the last 2 months trading pattern. It has the footprint of a H / Darwin type of exercise. ( Lets screw the PI and make a lot of money??).
I still think that this trading pattern is not normal and CH is holding something back.
Due diligence? All pals together, certainly.
I hope he has not lost the Slovenian brown envelopes in that stationery cupboard.
When in Rome etc etc....
"We were expecting the Environment Agency to communicate with us... tell us what needed to be done..."
Those are the inspirational words of that fearless go-getter and titan of British industry, Colin Hutchinson, in his recent interview on LSE. How many weeks dribbled away before he thought to give them a call I wonder? Later he goes on to express his ignorance of the cause of the declining share price. Perhaps this quote from Warren Buffett might give him a clue:
'If you've been playing poker for half an hour and you still don't know who the patsy is, you're the patsy.'
If INA has any interest in taking over AST, it would make sense for them to make a move before we commit funds to building the CO2 scrubber which they wouldn't need. Once the permit arrives, I'd expect a little takeover speculation to buoy the SP, but Colin's inaction has delayed that day's arrival. Meanwhile, the slow PI exodus continues.
support @ 1.25p. Even when the usa dropped 4.5% Ascent hardly moved at all. Frankly I was surprised. Ascent a "safe haven" for money.......... you could not make it up! LOL!.
As soon as ask goes sub 1.3p buyers come out of the woodwork........ or is it one buyer?
CEO did presentation last Thursday to room full of fund managers at the "Oil Capital Conference" in London. With 3 months gas production under it's belt and gas sales volumes steadily increasing I would have thought some of the more major players would be taking a stake here. After all one of our partners in Slovenia is the Slovenian Company "Petrol". They have a 12.5% interest in the field. They are quite a large concern. At the moment, due to the terms of the original agreement Ascent get 90% onf the revenue. If Petrol feel the gas field is a long term winner, and let's face it they know more about what the situation is than most share holders, maybe they will take Ascent out. They can have mine for 3.75p a share as things stand.
Agreed Bertie20. It's very lackluster and they had better come up with something more interesting than this if they want to encourage investment into this company.
So for all the fanfare about winning the appeal regarding the IPPC ticket their game plan is to apparently not only continue with their sale of unprocessed gas to Croatia but to add to its volumes in the next 12 months or so? Frankly, I don't believe the narrative they are giving here. A plan which not only lengthens the time in which perfectly good but unprocessed gas is being sold at a heavy discount and in which the priority is to add more gas at a heavily discounted value suggests to me that the Slovenian grid isn't playing ball - further endorsed by the complete lack of information regarding contracts being either commenced, negotiated or completed between AST and Slovenia. This may possibly be because the volumes that AST are likely to produce over the next couple of years aren't even worth getting out of bed for, despite what others on here may think.
For months now there has been no daily volume in the open market and the price has been seriously suppressed. I have no idea what the support levels are here - perhaps a chartist could enlighten - but with sales to Slovenia being at least two years away and management content to deplete stocks at considerable discounts, one has to wonder exactly what IS the game plan here?
IMHO - and like a stuck record - AST seriously needs someone who's done all this before - from the coal face - being involved in decisions.
DDD - "Just ask yourself - why now?" Yes indeed, I did, as soon as I read it and I also asked "why such a paltry figure", and my guess is that he's only just started and is planning to drip these out - which means that the T/O you are thinking about is likely some ways down the road yet.
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