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I think he may have referred to this article
https://www.dnevnik.si/1042940421
Which says these litigation can cost hundreds of millions. I think its more the risk of potential litigation cost and award if found guilty that can mount to big sums of the claims was substantial damage.
Awards are based on merit but since we are negotiating directly and amicably I would happily take 10 million if settled very quickly.
I was in OXS... what a complete farce that turned out to be!! Arbitration panels are just as corrupt as the countries they represent IMO. You wouldn't want to take a chance on the final result!! OXS were claiming hundreds of millions for the misappropriation of assets and lost revenue... they got a paltry 10.5m or so, not enough for costs and to cover the creditors. It also took an exceedingly long time... they can be tied up for years. Think carefully about entering it, is my view!
Tango1 what rubbish is this "international court of arbitration case will cost circa £100m"
I cant believe you having coco poops for dinner!
Clearly you don't know how much arbitration costs.
Shinra.... Again in English Please.
Tango1 was rubbish is this "international court of arbitration case will cost circa £100m"
I cant believe you having coco poops for dinner!
Anyone have knowledge of time lines for internal deals like these? A month, a week?
agree with rizq786 apart from the figures, international court of arbitration case will cost circa £100m, if Slovenia thought they could win the case there would not be this private negotiation, so they obviously know they don't have all the cards in their favour. AST WILL compromise but it will be on their terms- I anticipate circa £20-£30M the permits to stimulate and a ten year extension, and AST would give them the assurance of tapping into the slovarian pipeline once built and employing Slovenians once again improving the local economy.
All valid points, perhaps I'm more cynical having held AST for years through the Colin days and seeing my investment get increasingly smaller.
I've averaged down at the 3-5p range so hoping for a reasonable settlement to move to a more respectable market cap.
This internal dispute has been ongoing for years perhaps where AST felt they were being dealt umvavourably but the legal dispute was filed on 23rd July this year.
This then got litigation financiers interested as mentioned in their previous update. Obviously not taken further because the Government has agreed to negotiate directly for a possible amicable settelment. The Gov would have speculatively asked for legal advice at the possible case against them and possibly see a good case against them. And all the negative publicity along with legal fees can be quite damaging. So now they're negotiating directly.
In other words trying to settle out of court.
Why try to settle out of court if they thought case was going to be weak.
Direct negotioans and out of court settelment can be quick and less expensive compared to court way.
Our bargain chip is that the asset has had 50 million spent on it. We will not get that sort of money but our argument is shareholders' investment has been destroyed. So even 5 million gives us more than our current mcap with assets in for free.
Risk is that the board settle for low offer or theytake a dangling carrot from the Government.
Market cap hassen risen very much so there's decent upside and less risk.
Would have been different if our mcap was over 10 million on this speculation. Current mcap is around 4 million.
Long term don't know, but short to medium term looks good.
Good luck all
Castello75, It may have been going on years but AST only just started legal action (JULY) on the fundamental issue of a level playing field and honouring the bilateral agreement and energy charter treaty.
Well of course a large multi million settlement will transform the company, but this dispute has been going on many years..
You'd think the £15 million or so compensation they're about to get would cover getting the field up and running - any other raise is going to be for project development if no discount then onwards and upwards it's materially undervalued now
The company needs more cash quick -
On 5 August 2020, the company completed a £0.3 million subscription and agreed a definitive loan agreement with Align Research Limited to provide £0.4 million through an unsecured loan facility. These funds will be used for working capital and project costs; however, the Company may require further funding to cover further development projects over the next twelve months.
Bod have previously indicated a placing at nil discount. Given the current price levels. Ditto. Infact I think in this scenario with progression in mind, placing will not be a negative. Strong buy imo.
Bradis, someone's taken up 1million in 250k chunks. Super time to get in before it kicks off. Today's only a small teaser imo.
Agreed. With expected news flows this is a good buy at current levels.
Colder periods..
I'm in. Slovenia dispute resolution will multi bag this on it's own. Bear in mind this is a high probability scenario but not a done deal. Gas demand will rise with he onset of the colder peeiods. I like the cuba assets more and we're likely to hit the ground running in cuba. Demand for Nickel is set to soar with battery requirements. Finally a BoD here that seems to have it's head screwed on ;)
I'm struggling with what investors are missing here?
They were in 'dispute' and now advanced to 'direct negotiations with government' that is a massive step up and the talk of potential amicable settlement spells out willingness from the government.
How much is the question and the risk here?
warrant holders and placees selling will create volatility I'm sure.
Things do look good here.