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I think that you have hit the nail on the head there Antha.
Geoenergo have done little or nothing while AST battled Slovenian bureaucracy and corruption over the years. Slovenian Mafia involvement would not surprise me. Permits will no doubt be swiftly awarded once AST are gone.
My belief has always been that Slovienia and particularly Geoenergo want AST gone, Geoenergo will simply wait it out until the concession licence expires and don't be surprised when the authorities then allow them to develop the entire field.
Geoenergo signed the contract with Ascent believing that they would also be making money at this point, and they are not.
How long do you think it will be before Geoenergo tears up the contract with Ascent, due to Ascent not fulfilling their contractual requirements, and signs another contract with someone who has the funds and expertise to develop Petisovci ?
Ascent's contract with Geoenergo is the only "asset" AST has at the moment. Production revenue and bank funds are paying salaries and the BOD are just poking along waiting for a miracle, instead of making their own.
Organisations legally can set up multiple equity alliances and of course this also applies to non equity alliances.
PAD, a joint venture?
Ascent Slovenia is already in a joint venture with Geoenergo. Any takeover would only be for Ascent Slovenia, not Ascent Resources Plc. So which ever way it goes, I don't see shareholders benefiting from any deal.
The company is set up in a way where only the directors benefit... it's been a cash cow for them since conception. An AIM BOD lifestyle company.
Don't forget the Strategic Review sham.
Good stuff Desireoil3009. Could also be a joint venture or take over to add to this.
Agree with that point entirely. Would also add the numerous placings- the one at 1.67p looking great value now...
Excellent post.
This is a company which was designed to produce gas for sale in order to make a profit.
In the space of a year they have lost 90% of their initial production rates.
They have two producing wells; both of them require workovers, one of them has a tool stuck.
The little gas that is being produced is being sold to their one and only customer at 40% discount, and at under 7MCF (which it is now) per month is, as far as INA are concerned, no more than a fart down the pipeline.
There are insufficient cash funds to (a) purchase a scrubbing skid, (b) purchase a compressor and probably (c) workover the two wells and also fish the tool (which, if you remember, has already been attempted). Yet raises have been made against these requirements.
The company is in litigation with the Slovenian government, the costs of which have yet to be revealed, along with the results.
The question I have for Aliens is why, from the above scenario, you feel that AST is a good buy? Hazarding a guess it would be because you openly admitted entry into this stock at around these price levels and it's not inconceivable that you may make a bagger out of the froth that appears with the occasional piece of news. Nothing wrong with that of course - it's why we are all here in any stock. But it offers little consolation for those who joined at the 0.8, 1.5 and 2.1 stations and who have no chance of ever seeing their money back.
So, instead of telling people that the AST value will increase and today is the best time to invest (or trade?), why not follow it up with facts to uphold your thinking. My stall is set out above (and below) - let's have a discussion as to why you feel otherwise?
To quote Aliens... Invest today and reap the rewards... Could not make it up!!
I think I'd rather have a little candlelit supper with Reso at the Baghdad Hilton... than invest any more just now. Hey though, you go ahead... three recs, so some people agree with you!! :)
Not easy when your 40k down
How long have people been investing/trading on here? This will bounce from around this point and in an upward direction imo.
If people just see this going down, then sell up, get out, jump ship, leave and quickly given the sentiment shared by some!!!!!! Good Luck
Aliens,
What planet do you come from?
That is one of the most bizarre posts I have ever read on here. In a previous life you must have been Nelson and not seen the signal.
Either they have let you out for the day or you have no history of the company. Wih few exceptions all the directors have donne is milk yje company.
Daily reminder, many people on this board will be cognitively biased due to the decline of their investment. This is just an emotional reaction to a loss of value. The value will increase, and today is the best time to invest. It’s really low, and a tenna gets you around 10k shares. So buy now so you can sell later and reap the rewards !
It’s not a conspiracy when the £14m is raised via primary bid .... and who was a director there .... lolol
It’s not a conspiracy when the £14m is raised via primary bid .... and who was a director there .... lolol
Agree H-5-O.
Still waiting for that £1, as Colin so eloquently put on Twitter! :-/
PAD... could you give me few shares where we can met money back .. and what recovery we can expect here? Sorry not been following
… is it?
I gave you all fair warning back in 2016. Now coming up to the 4 year anniversary when I first warned caution on this stock and have continued so, although less actively over the last year ( backed by strong reasons why not to invest ), that said, I always promoted trading it.
I used to be ahead of the game when it came to price moving news... can't be bothered with that anymore ( why bother when it was never appreciated ), although it worked for me.
Kashdog .... I will in time. Heads up I’m not the only poster on this board doing it.
LC81, Two weeks ago you indicated you had written to the FCA and the Serious Fraud Office on your perception that the BoD had committed offences. Today, you have indicated that the FCA is taking an interest. What is your basis for claiming that?....give us some vidence of your communications, or are you just bull****tin'and it is all part of your deramping rants?
Just going to be another wait for it story I believe. Same old
The Board of Ascent would like to confirm that an appeal has been filed against the recent decision of the Environment Ministry.
As reported on 14 June 2019, the Environment Ministry in Slovenia rejected the appeal from the joint venture partners against the decision of the Slovenian Environmental Agency (ARSO) to require a full environmental impact assessment for well stimulation of the existing wells, Pg-10 and Pg-11A.
The deadline for filing an appeal to the Administrative Court was 15 July 2019 and the partners have filed their appeal.
The decision of ARSO and the Environment Ministry ignores the opinion of the six independent expert bodies whose advice ARSO sought. In breach of EU law, the decision also mistakenly concluded that the project fell within a conservation area and misapplied EU case law in relation to mitigation measures.
The Company is working to prepare legal claims for damages against the Republic of Slovenia for breaches of EU law which will be pursued in domestic and international courts. The Board will update shareholders on funding for litigation in due course.
Well 6 mths have well and truly gone another eu and Slovenian law broken I wonder what our bod are going to do will they update us with regards next steps the authorities of Slovenia need to be brought to task and taken to an eu court where hopefully theyd be found guilty of everything that is wrong with the way they go about their business and if they dont pay up the eu should take away funding or deduct our claim from their handout. Gla