The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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Really poor quality line too. Maybe they were dialling in from the bunker. Lol.
Haha Cooper,I dialed in too. It was worse than patronising pond life !
Eileen I more than happy to listen to your take on the Cc.
What a load of Twaddle tonight!...how many actually listened in to the CC or even managed to download it.
Zebediah16 - You are partially correct. The problem is the lack of experience is not only in operations, it extends to planning and submitting applications to government agencies for approval on projects. Governments and objectors are people and knowing what objections they have and the experience to address them in ways that have proven successful are all part and parcel of the experience of which I speak.
If someone wants to lay the blame solely on the Slovenian government, that is their right. But maybe there were other factors at play as well.
You are correct as well that the past is done and the money is gone. I am not convinced that AST cannot be saved, and it definitely could have had a fighting chance when there were a couple of million in the bank earlier this year.
"AST is not failing because of a lack of product, it is failing because of a lack of experience."
AST is failing becasue of government hostility / indifference, and it doesnt have the capital to bid for new interesting projects. I'm not sure what your friend could add tbh, he would no doubt be of help if AST had a big wad of cash
If AST had made bad decisions, I suspect they were made a long time ago and are difficult to reverse in the present context...
Conmancol - I have sympathy for Colin as he was trying his best (at least for a while) with a very limited oil and gas company toolbox. He did some good things (and some not so good things). He secured a sales line to Ina and a contract for gas sales. He was getting bad advice but followed it as he didn't know any better. He turned down an offer from an experience oil and gas professional that could have turned AST around.
His record at AST will be on his resume for a long time and it will be hard for him to secure another position like he had. His inexperience cost him a lot of potential cash!
Ray1234 - AST is ripe to be bought - IMO. Price keeps dropping everyday and the resources are in the ground. Previous geological company in Hungary confirmed that from the 3D seismic that is has taken over six months to analyze (it should take less than a month to properly evaluate the seismic BTW).
AST is not failing because of a lack of product, it is failing because of a lack of experience.
Ray1234 - Absolutely. There is big money being paid out every month and it is not being replaced with production income. Salaries, which for some are probably large, flights (perhaps business class?) between Colorado and London / Slovenia, hotel rooms and expenses. Monthly costs to Petrol for shipping the gas to Ina, two office in Slovenia, with associated expenses. These all add up and eat up the meager production income......day by day........until nothing is left.
Is there any possibility of a takeover? Put us all out of our misery
I agree Cooper. I thought there would be info released with an RNS tomorrow at 07:00 before the market opened at 08:00 otherwise what was the point? It clearly didn't provide anything for shareholders, although I reserve judgement until I hear it.
They could have released the news in the CC and RNSed it tomorrow at 07:00 before the market opened.
What would be the point of holding cc saying nothing then releasing news tomorrow? If they had anything it would have been released prior. There is nothing.
They could said stuff and RNSed it at 07:00 tomorrow.
I think everyone should be aware that NO price sensitive data will be given to anyone before being sent to the markets, somebody stated their where some intimations of positivity and to be honest that is as much as you can expect before an RNS.
Bradis- Oh yes I'm sure, as if you could resist.
I now see why the MM’s didn’t want to mark this up today despite the plethora of buys. Too risky for them to buy at a higher price until after the call. SP will probably drop tomorrow. I don’t think I’m going to even bother checking the SP unless there’s news.
Stockdale - I agree. If there was separation put on Pg-11A , production could easily be doubled. I believe that would have a positive effect on the SP that would not be dependent on someone of something else.
The management has to focus on making the best of the resources they can access at this time, while making plans to move production forward. Just making plans is no good, if they don't carry out those plans. They need to stop dreaming and start working.
I have to wait until it comes up on the website as I was not able to hear it. From the posts here it sounds pretty shocking though. As Always up says later this should be a succesful company. It isn't. And if the BoD came across as reported then it could be some time for any recovery in the SP, if ever.
I have always believed that the known gas at Petisovci should make this company. So far it hasn't and seems to be going downhill rapidly. I dread to think how the SP reacts tomorrow.
Great summing up Alwaysup.
Well that Conference Call was 40 minutes of our lifes' wasted.
No question answered properly. Many of my questions not posed. Arrogant but unclear.
It seems like everyone is shocked at the results of the conference call. Insanity is doing the same thing over and over again and expecting different results.
You wait for the compressor......it is cancelled
You wait for frac permits...........they don't come (and not all the fault is on the Slovenian government)
You wait for useless IPPC permit...............the only thing that does materialize, and it is not needed
JB comes on board as the saviour..............and after almost a year it doesn't look like he is the one (you can't properly run an oil and gas company with only geological knowledge)
AST needs an experienced operations person, with drive and morals to push the company forward. Someone who works hard everyday they get paid.
The problem is, nobody is doing and honest days work for an honest days pay!
JB fired the only two employees with any oil and gas experience, both petroleum engineers, to reduce expenditures.
Doesn't sound like a company that is trying to succeed.
Averaging down is a great strategy, but it is premised on the assumption that the shares will increase in value.
Ok, TPT, you can let me have it now.