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More like 320p for us mugs that bought in @2p several years back.!
The fact is AST was denied fair access to the gas in the ground, as the gas in the ground has a value (circa £300M) the financial modelling will have shown how much money AST potentially missed out on if it were to be given fair access as the previous operator had. AIMHO
I think we will get another update next week
A lot more than 32p is required for LTH
six working days until monday 15th....well find out either way just after then (or that week) ...tick tick tick....GLA
out off interest if we get 35 million payout or 32p a share will most off the LTH get a profit or break even at this level?
anyway i hope it goes well and as ive said GLA!!
like I said,, Golden rule, derampers never turn up on a bad stoc. so make sure dont sell yours cheply to them
oldblue1973 - You said exactly what I said. The only difference is you make it sound like Ascent owns the gas in the ground. That is not true, Geoenergo owns the gas. When it is sold, Ina pays Geoenergo and Geoenergo gives 75% of the profit to Ascent (Until Ascent's investment is paid, they give AST 90% of the profits). This only remains true until either party breaks the conditions of the contract. I guess you can make people think a certain thought depending on how you word a statement.
Following is more rubbish. No sense in you reading it, as you won't believe it anyway!
In March 2001 Nafta Lendava, who held the concession at that time, entered into an agreement with Ascent Slovenia Linited (Nemmoco). In October 2002, Nafta transfered it's interest in the concession to Geoenrgo. The agreement between AST and Geoenergo was signed October, 2013. My understanding is that the concessions in Slovenia come up for auction every five years.
So, If Nafat receive the concession in 2001, it should have come due in 2021, 10 years later.
ok from there website
Ascent is the Operator of the Petišovci Project which lies in the north-eastern corner of Slovenia on the borders with Hungary and Croatia.
Ascent holds a 75% interest in the Petišovci Project and its Joint Venture (“JV”) partner Geoenergo holds the remaining 25%. The current concession was awarded to Geoenergo in 2002 and is due for renewal in 2022.
Ascent has been involved in the project since 2007 and has spent approx. €50 million to the end of 2018. Ascent is liable for 100% of the costs and will receive 90% of the revenues until all costs are recovered.
Following a 3D seismic survey of the area in 2009, two wells, Pg-10 and Pg-11, were drilled in 2010/2011. Pg-11 was side-tracked for technical reasons, becoming Pg-11A.
These wells demonstrated that gas could be flowed in commercial volumes from previously unproduced (Pg-10) and previously undiscovered (Pg-11A) reservoirs. RPS energy performed an independent volumetric assessment of the field and verified P50 contingent gas resources of 456 Bcf.
Development of the field and bringing gas to market has been taking place in two phases.
https://www.ascentresources.co.uk/operations/slovenia/
alwaysup please spout your rubbish elsewhere...
Tango1 - AST does not own a percentage of the gas in the ground. They are entitled to 75% of the profits from the gas and oil sold, but the concession holder always owns the gas. So, without a contract with the concession holder, AST has no assets in Slovenia.
The contract with Geoenergo can be renewed when the concession is up for bid, if Geoenergo wins the bid and keeps the concessions, if another company wins the concession bid, AST will have to make a new agreement with them.
Also Extraction is re-starting.
AST own a 75% interest in the project and the contract is up for renewal 2022.
some { almost certainly same } have started spreading their infection on twitter as well
obviuosly this room is not enough
Tango1 - AST have no sellable assets in Slovenia. The only asset they had was the contract with Geoenergo, the concession holder of the Petisovci field. I believe that contract expired in Jan 2021. Did they sign a new contract with Geoenergo?
It makes me smile that people can think that if AST agreed to sell the project and walk away they would get 15m, when they have invested 50m- lost revenue for at least 5 years and have a gas field worth 350m+
Beggars belief!
ivans very well said...
those who have done research knows that Slovenia have avoided 2 recent litigations with other companies and paid them all. Slovenia does not have strong desire to get it prolong in court and damaging their reputation. not to mention high court cost as well as Slovenia do not have strong case to defend.
what even more encouraging, is that Slovenie agreed to discuss out of court settlement with AST. and yes, who said AST cant afford expensive legal battle? we already have lawyer line up for no win no fees basis if i recall.
you can read more here:
https://www.alignresearch.co.uk/ascent-resources/ascent-resources-bit-claim-slovenia-seems-keen-settle-cases/
and google it yourself rather than listening to derampers here who try to install doubt to your investment in AST.
Golden rule, derampers never turn up on a bad stock, where were they this time last year when the SP was 3p and only 2 posts a day?