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Share Price Information for Ascent Resources (AST)

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Share Price: 2.10
Bid: 2.00
Ask: 2.20
Change: -0.20 (-9.52%)
Spread: 0.20 (10.00%)
Open: 2.10
High: 2.10
Low: 1.90
Prev. Close: 2.10
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Resources round-up: Thor, Patagonia Gold, Amerisur ...

Wed, 30th May 2012 12:37

Oil and gas producer Amerisur Resources has logged, cased and cemented the Platanillo-3 well in Colombia, the first of a six-well drill programme. Testing equipment has been mobilised and will shortly begin production tests. The reservoir sections encountered in the well are currently being studied to determine which zones will be tested, with signs already indicating the potential for an increased oil column. The company expects to perform flow tests within the next week. The firm is now planning to drill the second well from the same location, deviating the well to an offset of around 700m from Platanillo-3. Gold miner Patagonia Gold said it has completed the expansion of the heap leach trial at its Lomada de Leiva gold heap leach project in Argentina. Cash costs per tonne of material processed are estimated at $9.20 per tonne, including mining, crushing loading and irrigation plus all on site costs and consumables. The cost per tonne can be considered conservative, the company said, as the mining of the material during this trial has been carried out by small capacity, general purpose, contracting fleets. The company reckons a further $145,000 of capital investment into the existing processing plant will be needed to achieve the desired throughput of 500,000 tonnes per annum. Thor Mining has upgraded its ore reserve estimate at its wholly owned Molyhil project in Australia to 1.64m tonnes at 0.42% tungsten trioxide (WO3) and 0.13% Mo (molybdenum). The tungsten grade is 50% above the resource estimate grade, giving the company more opportunity for the early payback of its project capital. The reserve provides a four year initial mine life at Molyhil, while newly identified prospective extensions and nearby targets add additional potential for extension of mine life. Ascent Resources, a Europe-focused gas company, has posted an increase in full year pre-tax losses despite a rise in revenue, after growing costs and an impairment write down of exploration costs offset the gain in turnover. Revenue rose from £1.8m to £1.7m, cost of sales increased by £0.3m to £1.7m, while losses before tax on continuing operations grew from £5.98m to £6.25m. The impairment write down rose from £3.1m to £3.5m. Basic losses per share fell from 1.18p to 0.68p. Sirius Minerals, the potash development group operating in a national park in Yorkshire, has launched a community funding initiative called the York Potash Foundation which will provide funding to local projects across a wide range of areas including community facilities, educational projects and environmental initiatives. The foundation will be run by an independent board of trustees and is currently seeking charitable status. The firm is contributing an initial start-up fund of £2.0m, after which it will contribute an annual royalty of 0.5% of revenue from the York Potash Project, equal to around £3.0m in the first phase of the project and £9.0m in the second phase. Rialto Energy's Gazelle-P3 ST well has encountered all expected reservoirs of the Gazelle field, Offshore Côte D'Ivoire, as well as a new exploration objective. The oil and gas firm is considering drilling a side track of the well in order to access the primary target Upper Cenomanian (UC) 1 reservoir in a better location before suspending it as a producer. The firm also said it had encountered a well-developed UC3 reservoir that had previously produced oil and gas at a well drilled by another operator. At the lower Cenomnian, one of the primary gas reservoirs in the Gazelle field was found to be gas bearing in Gazelle-P3 ST. The extension in the proven hydrocarbon column will be incorporated in a revised update of the Competent Person's Report. NR
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31 May 2024 14:27

IN BRIEF: Ascent reports improved financial performance in 2023

Ascent Resources PLC - London-based oil and gas company - 2023 pretax loss narrows to GBP851,000 from GBP41.9 million the previous year. Revenue more than doubles to GBP1.4 million from GBP581,000. Company to develop onshore US gas and helium strategy going forward.

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10 May 2024 14:10

Ascent Resources investee to begin production of gaseous helium

(Alliance News) - Ascent Resources PLC on Friday announced it expects sales of gaseous helium to begin shortly.

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10 May 2024 11:51

Ascent upbeat on progress as Lisbon Valley gas and helium investment

(Sharecast News) - Ascent Resources updated the market on operations in its investment into GNG Partners, the owner of the 60 million standard cubic feet Lisbon Valley gas and helium processing plant in Utah, on Friday.

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23 Apr 2024 16:02

IN BRIEF: Ascent Resources raises funds to finance GNG Partners outlay

Ascent Resources PLC - oil and gas exploration company focused on European onshore projects - Raises around USD1.7 million to help fund investment into a private US holding company, GNG Partners LLC. Notes GNG Partners has been formed to acquire onshore US midstream gas distribution and processing facilities, which use helium purification and liquefaction. Raises GBP555,000 through the issue of 24.1 million shares at 2.3 pence each, with one for three warrants attached exercisable at 140% of the issue price at any time in the next four years. This comprises a GBP390,000 placing and GBP165,000 subscription at the issue price. Further, enters into a new USD2 million senior secured fixed coupon loan facility with institutional investor RiverFort Global Opportunities PCC Ltd. Explains an initial USD1 million loan amount has been issued on a 12-month term. The fundraise and the initial loan will be used to fund the investment into GNG alongside the company's ongoing costs to build out the new strategy. Ascent says it has provided a convertible loan of USD1 million to GNG which has bought the assets of Paradox Resources LLC out of Chapter 11 bankruptcy.

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18 Apr 2024 14:28

Ascent Resources subsidiary files claim against Geoenergo

(Alliance News) - Ascent Resources PLC on Thursday said that its subsidiary Ascent Slovenia Ltd filed its claim in the Geoenergo insolvency process.

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2 Apr 2024 19:33

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Home REIT PLCAGM
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Intuitive Investments Group PLCAGM
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Virgin Money UK PLCAGM
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Comments and questions to newsroom@alliancenews.com
  
A full 21-day events calendar is provided each day with a subscription to Alliance News UK Professional.
  
Copyright 2024 Alliance News Ltd. All Rights Reserved.

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23 Feb 2024 14:28

Ascent Resources up after Slovenian government's challenge rejected

(Alliance News) - Ascent Resources PLC shares were up on Friday, after a tribunal rejected the Slovenian government's challenge against a EUR656.5 million claim by the company.

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19 Jan 2024 16:03

IN BRIEF: Ascent Resources notes Geoenergo insolvency approved

Ascent Resources PLC - mineral exploration and development company with gold mining interests in Turkey, Cyprus and Kosovo - Say it was informed that Ascent Slovenia Ltd's Slovenian joint venture partner Geoenergo doo has had its application to enter insolvency approved. Says it is now filing an appeal against the decision of the court in relation to this "unprecedented" situation and will register its claim with the competent court, while "continuing to pursue civil and criminal areas of redress against the former management and stakeholders of Geoenergo". Says further announcements will be made "as necessary".

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15 Jan 2024 15:55

Ascent petition prevents insolvency of partner Geoenergo

(Sharecast News) - Energy and natural resources company Ascent Resources updated the market on recent developments related to its joint venture partner Geoenergo on Monday.

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15 Jan 2024 12:50

Ascent Resources staves off Geoenergo insolvency amid claim pursuit

(Alliance News) - Ascent Resources PLC on Monday said Ascent Slovenia Ltd successfully prevented its Slovenian joint venture partner Geoenergo doo's immediate insolvency.

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8 Jan 2024 17:00

Ascent Resources' joint venture partner begins insolvency proceedings

(Alliance News) - Ascent Resources PLC on Monday said its joint venture partner Geoenergo doo has started insolvency proceedings in Slovenia, following an arbitration tribunal.

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