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Ascent Resources Share Chat (AST)



Share Price: 0.50Bid: 0.45Ask: 0.55Change: 0.00 (0.00%)No Movement on Ascent Res.
Spread: 0.10Spread as %: 22.22%Open: 0.50High: 0.50Low: 0.475Yesterday’s Close: 0.50


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stockdale
Posts: 5,448
Opinion:No Opinion
Price:0.50
Radio Silence from Colin
Today 17:41
I sent an email to Colin this morning asking about the Energy Day conference. Have yet to receive a reply. As it was RNSed to us I rather felt he should tell us how it went and what came out of it. We hope he has his reasons for the radio silence but many don't trust him with our money.
 
scott1092
Posts: 4,386
Opinion:No Opinion
Price:0.50
RE: Another
Today 16:45
Show of hands , what for Colin to keep his job, what again
scott1092
Posts: 4,386
Opinion:No Opinion
Price:0.50
RE: Well
Today 16:36
Don't understand ,why the radio silence since the announcement of the ippc permit , all seems very strange .
New80
Posts: 499
Opinion:No Opinion
Price:0.50
Another
Today 16:36
Show of hands you mean
jester16
Posts: 8,592
Opinion:No Opinion
Price:0.50
Well
Today 16:27
All I can say is this bod better get they're a r se in gear because soon we'll have an agm and I do not think it will be pretty for some. Since this new bod have been together what actually have we achieved and what actually is going on. We need answers....
New80
Posts: 499
Opinion:No Opinion
Price:0.50
Agreed
Today 16:20
It’s just very frustrating to see these permit issues coming a mile away while cowboy Colin was telling everyone they were not a priority .... somehow I don’t believe we have been told all the thruth
Alwaysup
Posts: 71
Opinion:No Opinion
Price:0.50
RE: No Info from Slovenian Energy Day?
Today 16:19
Reso You hit the nail right on the head!
lejjb
Posts: 8,585
Premium Chat Member
Opinion:No Opinion
Price:0.50
RE: For those
Today 14:38
Gerry65 - good luck to us both, across all our shares!
kenj
Posts: 2,072
Opinion:No Opinion
Price:0.50
RE: For those
Today 14:34
New80,
If I recall correctly, Bank Paribas said that they would not extend any further loans to AST until the permits had been granted. This was years ago, and referred mainly to the IPPC permit as the wells did not need restimulating then.
However, it is fair to assume that they would now require the stimulation permits and license extension before offering a loan, as would any other bank.
Gerry65
Posts: 1,121
Opinion:No Opinion
Price:0.50
RE: For those
Today 13:56
Lejjb - I recall that statement, it was a little light on specifics, though.

Hard nosed bankers tend to look backwards at previous financials both for the strength of the balance sheets and income and expenditure flows, and will also assess any legal or political risks inherent in the project. The only security for any borrowing would be the asset, as yet bought to surface and to market.

They would then look forward at 12 month cashflow projections, CH being an accountant will or should have a clear understanding, of the requirements.

Following on from kenj's post which seems to me to sum up the position. Should the present well permit only relate to the two existing wells as detailed in the interim accounts, how will that - even if granted unopposed, by environmentalists, allow AST to progress the project.

Btw see you've topped up in angs, I'm locked and loaded at 3.83, over there though I have to say, I've not put in as much as you. 10p and I'm out.

G
lejjb
Posts: 8,585
Premium Chat Member
Opinion:No Opinion
Price:0.50
RE: For those
Today 13:08
He explicitly said during the GM / EGM of November 2016 that a loan would be considered by a bank only once first gas, at a profitable level, was achieved.
New80
Posts: 499
Opinion:No Opinion
Price:0.50
For those
Today 12:48
Who have memory loss Colin has quoted several times debt facility of £12m via entities such as paribas ... of course like the sr it could all be in his head however if this was feasible it would go a long way to stabilise ast
Gerry65
Posts: 1,121
Opinion:No Opinion
Price:0.50
RE: The future
Today 12:20
L.a - Fully understand, and please accept my condolences to you and your family, for your losses.

You are right as we move through life, there are things far more important than, debating about an aim share.

I can relate to you, I have been there, having lost my father to cancer not so long ago.

Best wishes

G
kenj
Posts: 2,072
Opinion:No Opinion
Price:0.50
One step forward, two to go.
Today 12:15
The IPPC permit announcement is welcome and long overdue good news, and the sp has picked up. Unfortunately there are valid reasons why it has not jumped up above 1p as some have predicted.

AST do not have the cash to build the processing plant to clean the gas, to make it acceptable for the Slovenian network. Even if they did, the output from the two operating wells is insufficient justify the construction costs. Similarly, AST cannot afford £600k to install pressurisation equipment, so there is no imminent likelihood of the well output improving.

Consequently AST are in limbo. They need the permits to re-stimulate the wells, and they need investment to move the project onwards. However, unless AST are granted license extensions as well, they will not be able to find a partner or backer to fund this.
lebugue-addick
Posts: 1,186
Opinion:No Opinion
Price:0.50
RE: The future
Today 12:02
Gerry - I will endeavour to respond when I have more time - I am currently in the middle of executor duties for my mother and my mother in law who both sadly passed away recently. Those things tend to give me a wider perspective on life rather than worrying daily about AST. Please bear with.
Gerry65
Posts: 1,121
Opinion:No Opinion
Price:0.50
RE: The future
Today 11:45
L.a sorry for the lack of paragraphs, my chrome updated on me on my tablet whilst I was typing !
Gerry65
Posts: 1,121
Opinion:No Opinion
Price:0.50
The future
Today 11:44
L.a - you'll know if you have read my previous posts over many months, that i am in agreement with you that the asset is there, as to the value, that to me remains up for debate.Would you accept my statement in my post 09.49 that to date the volumes of the asset that have been extracted and sent to market to date have been done so at a sizeable loss. The interims state a loss on production activities of £100k per month for jan 18 - June 18.Is it your view that the value of the asset bandied around is gross of net of costs to actually retrieve it and get it to market ?What are your time frames in years to extract the full value of the asset ?I also asked you for your thoughts on the required b/e monthly production levels to create a stable positive cash flow position.Is it your understanding that as CH States in the interim report to June end, that present well permits only relate to the two existing wells ?I also asked how wells would you calculate need to be in ongoing production bearing in mind depletion rates, already evident.Do you accept that the cap ex required for this project is beyond AST. It will need a white knight will it not ?Surely the white knight will require a well permit for the whole field not just the two wells mentioned in the interims. That FULL permit, would need to be provided in such a way as to allow continued re stimulation throughout the field at any time as and when any well depletes in the future without the need for additional permitting requirements. Such a permit would need to be unopposed by environmentalists.Is it your view that the present well permit request meets these requirements ?Any thoughts on the actual concession expiry ?The long and winding road continues, does it not.G
Joeman1
Posts: 891
Opinion:No Opinion
Price:0.50
RE: Where's Colin?
Today 11:32
It's always been that date Reso.... and the field development has always extended past this date. Are you suggesting he has forgotten to organise for an extention? To be honest it will be s paperwork exercise .... not in the bag because it has to be correctly applied for.... but it wont be witheld.... imo
lebugue-addick
Posts: 1,186
Opinion:No Opinion
Price:0.50
RE: No Info from Slovenian Energy Day?
Today 11:01
G - I think you have to look at the overall potential value of the asset (for which no better figure has been put forward than £200m according to AST) and then come to a decision as to whether to invest or not. The current market cap is only £12m so whether the cost of getting this out of the ground needs further funding by banks or PIs is subject to individual opinion and everyone's own risk model. Personally I see there to be potential upside from the current share price or I would have sold long ago.
Gerry65
Posts: 1,121
Opinion:No Opinion
Price:0.50
RE: No Info from Slovenian Energy Day?
Today 10:32
l.a - you have posted the rns for the dec 2017 final's, not sure that will help Stockdale - too many words for him.

like you i recall the view as to the npv.

what are your personal views as to the questions i posed in my post 09.49?

G
lebugue-addick
Posts: 1,186
Opinion:No Opinion
Price:0.50
RE: No Info from Slovenian Energy Day?
Today 10:17
Gerry - from April 2017 http://www.lse.co.uk/share-regulatory-news.asp?shareprice=AST&ArticleCode=ilyo5pjf&ArticleHeadline=Audited_Final_Results

Tables do not copy and paste well from the statement to this BB so best to view the link. I know CH always talked about the potential market value of the company being a couple of hundred million that's why I asked the question.

Summary of Group Net Oil and Gas Reserves
Net Reserves and Resources
-

These figures are based on RPS gas-in-place estimates with a management assumption of a 50% recovery factor and Ascent's 75% participation.

Tested and/or produced commercial sands are included as reserves while untested and unproduced sands remain as resources. The condensate content of gas is not included.

Remaining reserves have been adjusted to take account of historic field production, which to the end of 2016 was 8.8 Bcfe.

Proven Reserves (P90) are those quantities of petroleum which can be estimated with reasonable certainty to be commercially recoverable, from known reservoirs and under current economic conditions, operating methods and government regulations.

Proven + Probable Reserves (P50) includes those unproven reserves which are more likely than not to be recoverable.

For the P90 (P50 and P10) Reserves, there is at least a 90% (50%; 10%) probability that the quantities actually recovered will equal or exceed the estimate.Â

Contingent Resources are those quantities of petroleum estimated, as of a given date, to be potentially recoverable from known accumulations, but the applied project(s) are not yet considered mature enough for commercial development due to one or more contingencies. Contingent resources may include, for example, projects for which there are currently no viable markets or where commercial recovery is dependent on technology under development or where evaluation of the accumulation is insufficient to clearly assess commerciality.

Prospective Resources are those quantities of petroleum which are estimated to be potentially recoverable from undiscovered accumulations.
Gerry65
Posts: 1,121
Opinion:No Opinion
Price:0.50
RE: No Info from Slovenian Energy Day?
Today 10:12
l.a - would welcome your response to my post - 09.49, my friend.
reso
Posts: 4,560
Opinion:No Opinion
Price:0.50
RE: They missed the boat
Today 10:11
… not at all! We got on the life raft, while you stayed on the sinking ship.
Gerry65
Posts: 1,121
Opinion:No Opinion
Price:0.50
RE: No Info from Slovenian Energy Day?
Today 10:10
no Stcokdale cost not relative cost is key.

costs of production relate directly to any stable and consistent levels of production that may in time be achieved, doh

We know Slovenia has a take and pay contract with Russia and other importers for cheap supplies of gas.

why take and pay - because the country has limited gas storage facilities.

I'm personally not sure Russia is overly concerned, with what AST can produce, as some suggest.

AST will have to create a meaningful supply of gas at competitive rates, are you seriously suggesting to this bb, that production costs, are not important ?

G
ogm4
Posts: 2,974
Opinion:No Opinion
Price:0.50
RE: Where's Colin?
Today 10:05
Bit of body language talking here, interview from Jan this year.
Start from 07:50 when he gets confronted with a question from the interviewer:

https://www.youtube.com/watch?v=gI9p2qnjvKM




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