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With you all the way Alwaysup, which makes the fact that Ascent buying then selling a compressor skid all the more galling!
Oops! Hydraulic stimulation …not separation!!
Kashdog - You are correct, compression is not the answer to long term viability, but it would have allowed Ascent to put money in the bank to be ready for the approval of fracking or some sort of acceptable stimulation to the existing PG wells.
There are a lot of PT wells that are capable of low gas production, but they cannot make line pressure due to low formation pressures. Flow rates for those wells is documented by Petrol and a decent analysis could evaluate the economics of compressing that volume and combining it with production from the PG wells. Many of these PT are still capable of oil production with the proper equipment installed. Most have never had pumps run into them. They have only been blown down on a regular interval to recover small amounts of gas and oil. Shut in for a couple weeks and then blown down for a couple of days. Instead of spending the raised funds on a years salary for the BOD, it should have been used to bring this extra production on stream.
A successful company finds ways to keep increasing production while waiting on approvals, they don't just sit and wait while paying fixed costs.
lol everyone has there position and have had for some time there has hardly been any buys/sells for quite some time looks like we a waiting to see how this plays out.....good or bad......pretty much nothing moving on ft
https://markets.ft.com/data/equities/tearsheet/profile?s=AST:LSE
and 43% is a good amount for funds hedges
https://www.ascentresources.co.uk/investors/shares-shareholders/
then we have
Interactive Investor Clients* 3,715,063 3.39%
Jamieson Principal Pension Fund 3,400,000 3.10%
Directors 2,696,492 2.46%
so thats 52.04 not in public hands thast not bad for AIM
all info out there DYOR!!! and try not to listen to folk on boards even me!!!!! lol GLA real investors
Alwaysup, I tend to agree with your last point, I would guess that Ascent (UK) will not be part of any licence extension. However, due to the tight gas I would also guess that compression might not be enough without stimulation whether you call it Fracking or Hydraulic Separation and I also believe Slovenia will make the case, based on Environmental concerns, not to support any “fracking” type activities….I could be wrong though!…and for all those still holding, I hope I am.
i know lets waffle some rubbish between us about us being oil and gas experts lol
must be worried......tick tick tick :-)
wow manu can you get me a ticket pls :-)
interesting point last big update 27th may
https://www.lse.co.uk/rns/AST/slovenia-claim-funding-update-d4755eirbqdwaj4.html
now 30 days from that on 25th june we have suddeen unexpected buying activity where the price goes up from 4.6 to 5.75 or there abouts or up 25% didnt think much at time....but we have had no news for nearly 120 days on tues/wednesday (next week)
now this is me summising but did they give them 30 days and just then something happened?? and leaky ast someone heard....now we have had pretty much constant news....then bang nothing......find out next week if our friends from spreadex still have there silly position and they all lose there houses
now they have already asked us not to engage the BIT
https://www.lse.co.uk/rns/AST/slovenia-dispute-settlement-update-8n6mm5b0qsbcgse.html
maybe nothing maybe something.....who knows its AIM high risk/high reward......but they need cash soon for there metals and cuba oil......all IMHO etc etc as always and please DYOR!!!
Kashdog - We may have met somewhere over the years, but it would have had to have been onshore. I have never worked offshore. I get so frustrated watching the BOD stumbling around with Ascent with the answer to making a viable company so obvious. Compression and proper separation is the answer to the Petisovci field. With compression , not only on the PG wells but also on the PT wells, could go on to produce for years. I would bet that you see that too.
I think it may be too late now as Geoenergo has probably abandoned the JV contract with Ascent. Ascent has broken the terms of the contract many times in the past few years since Clive and Colin left.
Alwaysup, we may have met at some point..North Sea (Northern, Central & Southern) North Africa, (Libya, Egypt & Algeria) Africa (Nigeria & Gabon), South America (Brazil & Venezuela), China, khazakstan, Azerbaijan and other places. Offshore and onshore on production platforms (Oil & Gas), Drillers & Hookups. I know it doesn’t make us investment experts but I guess we have seen any number of small exploration companies going under and possibly recognise the symptoms!!
wow manu can you get me a ticket pls :-)
interesting point last big update 27th may
https://www.lse.co.uk/rns/AST/slovenia-claim-funding-update-d4755eirbqdwaj4.html
now 30 days from that on 25th june we have suddeen unexpected buying activity where the price goes up from 4.6 to 5.75 or there abouts or up 25% didnt think much at time....but we have had no news for nearly 120 days on tues/wednesday (next week)
now this is me summising but did they give them 30 days and just then something happened?? and leaky ast someone heard....now we have had pretty much constant news....then bang nothing......find out next week if our friends from spreadex still have there silly position and they all lose there houses
now they have already asked us not to engage the BIT
https://www.lse.co.uk/rns/AST/slovenia-dispute-settlement-update-8n6mm5b0qsbcgse.html
maybe nothing maybe something.....who knows its AIM high risk/high reward......but they need cash soon for there metals and cuba oil......all IMHO etc etc as always and please DYOR!!!
30 years in the field, in different countries around the world and 12 years in the office. Contracted to manu different companies, large and small.
what im more interested in is why 2 mm's JBER and PEEL have litterally been stuck at buy 4 and sell 6 for the past 5-6 months and not changed at all? its not gotten to that price with either in that time? so have they even bought or sold any in that time....really odd ive never seen that before....think the buy was at 3 then moved to 4 a while back....odd
so you have 40 years off oil and gas experience? is that actual working in the industry experience or talking on a board about oil and gas stuff?
what do you do? which companies?
oldblue1973 - How did you know that I have over 40 years of oil and gas experience?
lol you guys still at this rubbish 12 billion m3 gas its no compression we need but hydrolic stimulation.....the lines 3KM long.....and remeber we got gas flowing out off this and its 3KM!!!! long ...thats a fair bit off resistance i could be bothered to do a resistance calc off the line but you seem to know better lol...with your huge knowledge off oil and gas
The sad things is, both the previous board and the current board have been aware of the fact that Ascent could continue to make money off of the Slovenian properties with compression. Many of the existing wells could produce, perhaps for years, if a compressor were installed. It is an absolute no-brainer to anyone with a basic knowledge of oil and gas production.
From the Sept 2021 RNS:
Gas sales to INA remain suspended as wellhead pressure is below the export pipeline pressure. The sales contract remains valid and should the Company increase production gas sales may be able to be resumed. The Company produced gas in the year to date which was sold locally to an industrial buyer through a low-pressure pipeline, however the revenue from this is less than the fixed costs of the field and pursuant to a deal agreed in Q4 2019 the Company is not currently receiving any revenue from this declining production, with the proceeds being retained by the operating service provider to pay towards their fixed costs.
oldblue1973 - As an investor, 90 days with no news does not make me interested. Just the opposite, it makes me lose faith in the company directors.
As for no real trades, what do you do with shares that you have lost on and are now worth virtually nothing? I leave them in my portfolio in the hopes of a miracle.
The world will not end once Ascent folds.
All I said was a company with no assets, 1.2 million a year in liabilities and no direction, is not a very viable company to invest in.
so the 90+ days with no news as an investor doesnt make you the slightest bit interested? ???
heck it does me:-)
absolutly no real trades apart from what can only be described as garbage? (see yesterday lol)
so your telling me the world going to end whilst everyone else seems to be holding and waiting for something?
oldblue1973 - I don't do any research on any message board. I attempt to post information on this board from trusted sources, close to the company, to try to save my fellow investors from making non-informed decisions. Anyone can take or leave the information I pass on here.
My suggestion to everyone here is to investigate the statements I make and check their accuracy.
IMHO / DYOR
lol alwaysup i used to get the same no assests and no employess rubbish from someone else on another stock....
as you say DYOR and dont listen to anyone with a HOT SHARE TIP or trying to get you to do something you dont wana do on a board..if your doing your reasearch from a share board (god help you)...DYOR as you say :-)
oldblue1973 - Yes, there is a lot of recoverable gas in the Petisovci field. But none of it belongs to Ascent. There is probably oil in the Cuban play as well. But none of it belongs to Ascent either. You are quoting assets that Ascent doesn't even have.
Ascent has zero assets!! Ascent has no employees in either Slovenia or Cuba.
Do you own research!
and this is all that matters at the moment
the RNS will come and we will see if they do get the FDP....EIA....consession or if they go BIT...
theres circa 12 billion sq m in gas down there if they get access to it price goes up simples....and i state IF they get access to it
but you keep bashing away...
https://www.ascentresources.co.uk/wp-content/uploads/2021/05/Ascent-Annual-Report-2020.pdf
Cumulative gas production from the Pg gas field since 1963, including fuel and flare use and accounting for the gas equivalent of the historical condensate production, is 12.7 Bcfe (360.1 MMsm3). This is 3% of the currently estimated gas initially in place (“GIIP”) of 430 Bcfe, (12.2 Bsm3), based on independent third-party estimates.
now im gonna make this easy plug in the numbers and its 36 euro per mwh at moment????
https://www.unitjuggler.com/convert-energy-from-GcmNG-to-MWh.html
now can we get it all out ....taxes...expenses etc we have a partner etc
the npv is at 200 million + since then the gas price doubled ....current mcap 6million
im an INVESTOR and im waiting till the time comes when we find out either way...good or bad
all above IMHO etc etc and pls check it all and as always DYOR!!!!! please DYOR!!
so you lot waffle about 'old board' new boards pay etc etc and not about the elephant in the room is can we get to the gas....
ohh and seems noones stupid enought to short this stock lol and has been that way for a while according to this
https://shorttracker.co.uk/company/GB00BZ16J374/
The "fully committed" BOD - on a part time basis. ...
Kashdog - I agree. The losses were pretty close to the administrative expenses. Maybe a little going to consulting firms.
Ascent is not producing the Slovenian property, Petrol is on behalf of Geoenergo.
The contract with Ina was for Ascent to deliver 3 mmcf/day into the pipeline. They did that for a very short time because they stopped focusing on production and operations and began focusing on the BOD getting wealthy on the backs of shareholders.
Ascent is dead in Slovenia, no talk of the Cuban oil play (which cost a lot of money to obtain a vague promise of perhaps signing an agreement) and now some pie in the sky mine tailings project.
This board has done nothing to better the company and its future. Greed has replaced business sense with the current BOD, as with the previous board.