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running down an operation does not mean no income. It means all capital expenditure has stopped and the plan is to extract money from the operation till it breaks down. Only a minimum level of maintenance is done
AST has got themselves into a bit of confusion. The compressor is a huge commitment . Was the compressor supposed to an alternative to "fracking". Its not clear
If he is running down the operation as people have said he stated yesterday then there is no income and this BoD will just eat up the cash then try and place again, without putting their hands in their own pockets. Absolute sham we have basically been conned by Geo, AST and the Slovenian government. They should use the 750k left to fill the wells with concrete or whatever, absolute mess. Bet Sophie Honey is on the razzle tonight though.
Top of the fallers. AST living the dream.
We've only lost our money if the company were to de-list from the AIM market.
As long as production is maintained from PG10 and PG11a the company will still have an income that can keep the company solvent with no debt. We're just in a form of stasis until we can either get things sorted in Slovenia through legal action, politics or we move on to Croatia where we already sell gas to INA. So we already have a footprint there and they already know about AST.
So basically after that AGM we have lost our investments in this firm. Cue the glee mongerers arriving.
I have to retain an amount of levity as my investment here is in a dire state and I would otherwise be a manic depressive.
We have known gas in the ground, ten wells already in place and all in an EU country. The reality has become a nightmare where we don't just 'dream on' but can only hope that Colin can get something out of this nightmare.
Production needs to be maintained to use the small income to finance the company going forward until AST can extricate itself from Slovenia. The politicians are disingenuous and have led AST up the garden path to a very nasty place.
Sophie Honey has been helpful but British diplomats do the right thing. When up against the likes of the Slovene politicians we're bringing a cushion to a gang fight.
We'll it was the middle of the night.
Dream on!
They wont be laughing when EU fines them and takes away funding. This is the whole point in signing up to the eu you have to follow their rules and regulations your country is open for business not throttle every foreign investment like us and that paint factory. The country is fecked or it soon will be...
Just pass the brown envelope around, that's why we're in this shite, not been naughty enough ;-)
In your opinion ray. He must be disheartened wouldn't you all he wants is to progress this field unhindered. Just a simple task of getting permits made excruciatingly hard to get because of idiots in power haven't a clue has to what they are actually doing in other words not fit for office self serving hypocrites..
It was at the agm today. He was asked the question and said that production had not been stopped yet.
'According to Colin': was that by email or at the AGM? Did he say he would inform the rest of us to remove all doubt?
According to Colin, production in Slovenia has not stopped.