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Yep just need to be a 10k bagger and i will get my money back as my £550 i invested in this great company about 10 years ago is now worth 0.09 pence
Looks like a BIG few weeks ahead
Have to be in it to win it
£6m Mcap v £600m+ claim
Coming to a conclusion shortly
There is only senior management ... says it all really!
Let's hope AST'S highly paid, part time BOD deliver on their update regarding ECT general meeting and provision of structure for shareholders to be compensated which was promised for January by RNS.
As we are now approaching month end once again this is looking as likely as an update on their key strategy of metals in Cuba.
I hope every morning for the news that will end this nightmare for me. Why was I ever taken in by the lies, hype & hysteria whipped up by this company's Senior Management.
After all as we've been told - it is a compelling investment...at least for the Directors!!!
Strange that those investors over at Echo Energy are also singing Mr Parsons praises today!!
Of course it must just be a coincidence!!!
As per the norm LSE continue to look the other way!!!
No surprise there! Parson's etc ... have little grounds to overturn this ruling unless they has sight of the companies accounts, which is highly unlikely. I assume the court saw proof of insolvency even if it's highly suspicious... these accountants can hide anything if they want....It seems
So AST are going to take on the Slovenian courts without any evidence that Geoenergo are not insolvent. Good Luck with that Parsons!!
Appealing this decision is going to take big cash!…I wonder what Enyo Law are making of this!…would not surprise me if they withdraw before they spend a fortune on this no hoper!!
Further dilution with a fundraise to pay for Slovenian Lawyers is next no doubt!
A good job dog farter has plenty of money to be a diehard!! Yay!…😂😂
DF what are you on about?
“Specialist Loser” …well ok if that’s what you want to believe but the last time my wife and I went out for dinner with two friends, (last weekend, admittedly in London) we spent £600, split equally between the four of us!…if that makes me a loser… well bring it on, I will take it! 👍
I am still laughing. Wow, split the bill on a measly 600. I can…I have done really well 👍
Is record date?
Geo is the operator.
One question who did or was responsible for the drilling off he wells? geo or ascent?
Ermm winni why do they need more than the claims til they're settled?
This co' whether you like it or not after being so ripped off by Slovenia is now a "claims" business and that's all they are and need to be for now imo.
They're marketcapped at just under £5M and are claiming nigh on 700M euro's with a slice of that pie to go to all investors in on a certain date if they win.
If they lose we lose simple as.
If they win, after giving us our special divi they can do what they want so far as I'm concerned I'll be gone cash in hand. Hopefully you'll have the sense to do the same and won't just hang on to moan about whatever they choose to do next.
More than two scenarios.
That just sum up your understand of what running a business means!! This all historical …. where is the business going with or out these claims… Do you know any Private business that would have so many executives and directors .. but has no real business activities other than the claims process … no i didn’t think so and Why is that? Because they need solid income, monthly or quarterly to pay people! This lot have done Nothing in 3 years? To get new income …. FFS
Yes he has whilst you've been whinging he's been working and now has the co.in a position where they're suing the state for nigh on 700M euro's and ast's crooked partners for at least 8M euro's and will likely end up owning their co.
Not bad is it? FFs. lol lol lol.
Panman ———Ha, Ha, Ha …really? ..he’s been so proactive over the last 3 years hasn’t he …FFS
I take the view that this is a “false dawn”. The court has not stated that the applicant is insolvent or not, it has, in effect, put the application on hold until that fact is established and part of that process is to allow creditors to offer alternatives to insolvency.
Two scenarios exist. Firstly, it’s demonstrated that the applicant is a going concern. Secondly, if the applicant is insolvent, creditors (including AST) can offer to take over the company applying for insolvency. To take ownership, the creditor would have to demonstrate that they have the financial wherewithal to run the entire operation and would have to put up sureties and guarantees….I don’t believe AST are in a position to do this.
Current Slovenian ownership will be an obstacle here as they will not want a non EU company owning their assets.
This is just my view. I think there will be opportunities to trade here if you can get the timing right as there is built in volatility now! 🤔
Agreed , one thing you can say for the man is he won't go down without a fight.
Wished I'd topped up just to back him now.
Very good.
Rns out. Great news
Https://www.petrol.eu/petrol-group/about-petrol-group
https://www.petrol.eu/companies-and-services/companies/geoenergo-doo
"The net profit for 2022, which belongs to the Petrol Group, totalled EUR -149.7 thousand. The company’s equity totalled EUR 178.2 thousand as at 31 December 2022."
https://www.slovenski-plin.si/about-us.html#:~:text=Geoenergo%2C%20d.%20o.%20o.&text=Nafta%20is%20a%20state%20owned,services%20and%20petroleum%20storage%20products.
Looks like someone has the monies out in group management charges.
DYOR
While I agree that the recent news has been unpredictable, investors have been led to believe through RNS that the company is actively developing a key strategy in South America.
I tend to agree with Winnimandala, if the company were to receive compensation of any kind, I have no faith in the current BOD to invest it wisely. In my opinion Mr Parsons led investors a merry dance at Sound Energy. He is involved at Echo Energy & actually recruited Stephen Birrell from AST where the share price is on the floor. A similar story at Coro Energy. The only company that has actually progressed is Corcel where Mr Parsons stooð down.
These guys are being paid thousands per year & in my opinion their track records over recent years has been appalling to say the least. I'm sure it will suit them all very nicely to sit drawing their extortionate part time salaries while the lawyers argue their case.
It must just be a coincidence that every business they're involved in is a disaster from an investors point of view!
AIMHO.
When Ascent consolidated their shares back in spring 2020, many shareholders of this stock thought they had been fleeced.
So any large holders owing to yesterday's news are most likely nearly hitting the sell button. So expect a further drop today as they decide to claw back what is available NOW.