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EXCLUSIVE: Ascent CEO Colin Hutchinson with latest on review and permitting


Ascent Resources Share Chat (AST)


EXCLUSIVE: Ascent CEO Colin Hutchinson with latest on review and permitting. Watch Here


Share Price: 1.10Bid: 1.05Ask: 1.15Change: 0.00 (0.00%)No Movement on Ascent Res.
Spread: 0.10Spread as %: 9.52%Open: 1.175High: 1.25Low: 1.075Yesterday’s Close: 1.10


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Monarch
Posts: 2,505
Premium Chat Member
Opinion:No Opinion
Price:1.10
RE: Takeover Rules
Today 10:09
Gerry, feel free to look at my history to check what my pov about AST and the BOD is. That being said, you need to really explain me how you can spend all that time here, on a small cap gas producing company on the AIM? We all know that AST had MANY difficulties over the years but we also know that there is gas in the ground that has value and will add to the bottom line of somebody that can afford the road bumps along the way. AST is not in that position...somebody with deeper pockets, a long term view and connections better than the current BODs however will be.

You either dont want to see that or have ulterior motives

Monarch
 
Gerry65
Posts: 756
Opinion:No Opinion
Price:1.10
RE: Takeover Rules
Today 10:05
scully - more abuse !

you are coming across as very rattled.

please go through the issues i have raised and correct me where you see fit, if you are able.

look forward to a full and frank debate.
Scully12345
Posts: 2,283
Opinion:No Opinion
Price:1.10
RE: Takeover Rules
Today 10:03
Gerry the difference between you and Kelsbells is he at least does he research (although he does omit some pertinent details in his arguments - purposefully I think). You add no value to this bb with your rambling so I'm filtering you.

Kelsbells happy to leave you unfiltered
Gerry65
Posts: 756
Opinion:No Opinion
Price:1.10
RE: No subject
Today 10:01
jamesjohn - i wasn't disagreeing with your post, just a follow up from me, looking to see matters through the eyes of any possible suitor.
Scully12345
Posts: 2,283
Opinion:Strong Buy
Price:1.10
RE: Takeover Rules
Today 10:00
Gerry oh dear you really haven't done your research have you and you are talking lots of nonsense. Kelsbells makes a claim that I have never contributed to anything on this bb and you take it at face value without actually checking lol lol. You also said you invested here based on what people were saying omg. Please do your research. You're obviously a noob investor.
Gerry65
Posts: 756
Opinion:No Opinion
Price:1.10
RE: Takeover Rules
Today 09:58
monarch - no need to swear, don't get stressy buddy.

feel free to provide cogent replies to my concerns - seems scully is unable to do so.

god where would AST be without the £1m placing in oct 2017 - oh forgot CH squeezed out an extra £500k - so £1.5m.

its that money that has kept the lights on for so long - that's the reality isn't fella.

if you don't like my posts feel free to filter me.
jamesjohn
Posts: 122
Opinion:No Opinion
Price:1.10
No subject
Today 09:53
Gerry... I don't know who the companies are, one or two maybe very big and can afford to wait, I don't know the answer to that. I was just making a point which I believe I have done.

As for funding, there are many ways of raising funds if shareholders agree, then continue to develop, but at a slower speed. However we can't do this without the permits!

I have to go to work now.
Monarch
Posts: 2,505
Premium Chat Member
Opinion:No Opinion
Price:1.10
RE: Takeover Rules
Today 09:49
Gerry, do some research before posting ffs

Monarch
Scully12345
Posts: 2,283
Opinion:Strong Buy
Price:1.10
RE: Takeover Rules
Today 09:47
Kelsbells I think you need to look back through my posts if you don't think I've presented some cogent reasoning lol and I'm sure many on this bb would and have disagreed with you.
Gerry65
Posts: 756
Opinion:No Opinion
Price:1.10
RE: Takeover Rules
Today 09:42
jamesjohn - AST have been waiting over 12 months for the permit to re stimulate, not that it would be able to go back into both wells, as it just does not have the funds and it had reached point critical both in financial and operational terms.

any company looking at a take over would need to understand why these permits take so long, as the asset in the ground needs multi wells to be economic.

rns info on what is behind the delays has not been forthcoming.

is it CH and the bods incompetence, or just that ARSO work extremely slowly, or is there another reason.

any new company looking to get involved will need to understand the true reasons.

no new company would want to be waiting similar timeframes for future permits.
jamesjohn
Posts: 122
Opinion:No Opinion
Price:1.10
RE: Takeover Rules
Today 09:33
No, the point is we are getting it out of the ground, we just need the permits to continue. I agree if we don't get them then the asset stays where it is. If you check my posts over the last 2.5 years I have stated many times, the permit is the golden ticket. That is what we are waiting for!
kelsbells
Posts: 1,065
Opinion:No Opinion
Price:1.10
RE: Takeover Rules
Today 09:28
Scully you haven’t put one useful intelligent post on this board. Not once when posters make reasonable, salient points do you ever come back with something factual to challenge those points. You just say swamp, rock, deramper lol lol etc etc . Embarrassing to be honest
Gerry65
Posts: 756
Opinion:No Opinion
Price:1.10
RE: Takeover Rules
Today 09:24
scully - just read your reply to kelsbells to his concerns just the usual de ramper statement.no response you his views.

in my experience on aim more people lose more money listening to over the top ramping, as opposed to those with a more bearish view.

i recall a number of prolific rampers on other bb's getting absolutely slated when their blue sky thinking did not become reality, and people lost money following their posts.

several have never returned to post again - AST is operating 2 wells one pretty much out of action, the other producing reduced revenues month on month since April.

revenues don't cover costs, even with drastic actions the lights go out by xmas,

even with re stimulation permit AST had no money to go back to attempt to resolve matters.

shareholders have closed down funding by placements.

any company taking a look at AST will look to pay bottom dollar - CH has blinked first here. clueless - or desperate imv.
kelsbells
Posts: 1,065
Opinion:No Opinion
Price:1.10
RE: Takeover Rules
Today 09:24
JamesJohn that’s exactly the point the £200m asset is in the ground and worth the square root of zero unless you can get it out commercially which 90% of the time in oil and gas isn’t possible. That’s why dozens of these fields are basically given away for companies to try their hand at. I’m in a company that has a $600m npv with a market cap of £8m...npv is not relevant, revenue and profit in the field are.
jamesjohn
Posts: 122
Opinion:No Opinion
Price:1.10
RE: Takeover Rules
Today 09:14
Remember after you spend another 40-50 mil on phase 2 you will have a minimum of 240 - 250 mil asset in the ground.

So the MINIMUM you would expect is are money back plus a small premium.
Scully12345
Posts: 2,283
Opinion:No Opinion
Price:1.10
RE: Takeover Rules
Today 09:13
Jamesjohn - well said "The field will be working commercially, once the permits are in place. It also has been working, it requires re-stimulation, which is standard."

Kellsbells is this just a blatant lie to attempt to pull the wool over poorly researched new investors eyes? Shame on you "all ast have proven by mothballing the company is that they couldn’t make this field work commercially"
Scully12345
Posts: 2,283
Opinion:No Opinion
Price:1.10
RE: Takeover Rules
Today 09:09
Gerry oh dear your posts are getting very silly aren't they. I won't address most of your post as you're just trying to bait me. Not ramping just telling it how I see it im my opinion and was I wrong? Or were the derampers who like Fellrunner who predicted 0.20/0.30p during the conference call? People are entitled to their opinion which is what these bb are about but you should take issue with lying derampers who twist the facts.

All I will say is if you think shares always go up in a straight live you're naive. Please look up "consolidation". This is what likely happened on Friday. As I said yesterday consolidation is positive, this hasn't retraced much.
Badgernator
Posts: 2,191
Opinion:No Opinion
Price:1.10
Deramp
Today 09:06
I know my opinion won’t be popular with holders but I think the lights out rns by Colin was his attempt to make a low take over price seem good. If the sp was still hovering around .4 holders would have taken 1p in a shot. It was only the intervention of Walters and co. that got the emergency meeting and moved things forward, forcing Colin to acknowledge permits will be forthcoming. If Colin was looking at a future for Ast he would have taken a pay cut and stayed full time, instead he is looking for other opportunities. I hope we do get a higher offer but I can’t see why.
jamesjohn
Posts: 122
Opinion:No Opinion
Price:1.10
RE: Takeover Rules
Today 09:04
The field will be working commercially, once the permits are in place. It also has been working, it requires re-stimulation, which is standard.

You don't expect a company who has spent 50 mil and years of exploring, proving data, building infrastructure, going through the courts to then give away a 200 mil asset for 10 -25 mil do you. Very Strange!
Scully12345
Posts: 2,283
Opinion:Strong Buy
Price:1.10
RE: Takeover Rules
Today 08:57
Kelsbells - you've been proven wrong many times but you play your role as deramper well, I'll give you that. Spreading your poisonous seeds of doubt and fear is something you do reasonably well. They did say the derampers would be out in full force this weekend. You significantly downplay what AST have for sale and do it on purpose...what you say isn't calm logic, you deliberately skirt over facts.

You say "the reality of what WILL happen here".

So you claim to know what will happen? Really??
Pinguser5
Posts: 171
Opinion:No Opinion
Price:1.10
Oil reserves
Today 08:53
It has always been my belief that Ast would eventually be taken over and it has been a frustrating journey up to now. Amid all the speculation regarding possible suitors the main conversation has been about the gas wells. We also have evidence that there is oil in the ground but for some reason this is hardly ever mentioned by the BOD, maybe deliberately?

On a different note, it makes me smile when I see the number of new posters on this bb, spouting doom & gloom and appear to have become experts on this share overnight!!

Good luck all.

Ping
kelsbells
Posts: 1,065
Opinion:No Opinion
Price:1.10
RE: Takeover Rules
Today 08:52
Afrim clearly it’s not a fact but a dispassionate logical assumption as to what will happen
Gerry65
Posts: 756
Opinion:No Opinion
Price:1.10
RE: Takeover Rules
Today 08:51
scully - you may not like what you read - but that's not my problem is it ?

made my position clear on this one, took a sneaky little buy and sell last week - pretty much based on your - what was it 400+ ramping posts.

got out with a nice little profit. whilst you were spending most of your time yesterday defending your buy decision on your pharma share bb, sentiment here was weakening.

the sp rise stalled at say 1.2p to buy, as people are seeing the real risk reward here as too high at that price.

its now dropped back with the bid down to 1.05p.

rather than asking me not to ask questions today - why don't you provide cogent replies. or alternatively filter me.
Afrim
Posts: 240
Opinion:No Opinion
Price:1.10
RE: Takeover Rules
Today 08:48
“I just can’t see how it’s remotely possible for the field to be taking over for significant money I think most likely outcome is ast shareholders will get shares in acquiring company and CH will get some sort of consultancy role.”. Is this a fact or is just one of your assumptions?
kelsbells
Posts: 1,065
Opinion:No Opinion
Price:1.10
RE: Takeover Rules
Today 08:40
At last we’ll done badgernator and Gerry posters showing some calm logic as to the reality of what will happen here...all ast have proven by mothballing the company is that they couldn’t make this field work commercially, which is why dozens of these old fields are given away for next to nothing in the first place because it’s so hard to work over these fields and make them profitable. People say ast are owed €43m as if the company and shareholders are entitled to it back ..that’s not how business works in an oil or gas field or on the high street ! Why would any acquirer spend £90m on this field?! let’s say £50m to ast and £40m in the coming years building the plant and working over the field...it would never work or wash its face. I just can’t see how it’s remotely possible for the field to be taking over for significant money I think most likely outcome is ast shareholders will get shares in acquiring company and CH will get some sort of consultancy role.




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