Adam Davidson, CEO of Trident Royalties, discusses offtake milestones and catalysts to boost FY24. Watch the video here.
oldblue1973 - Lemmings? You sure like to call people names when they don't conform to what you think is right. Who are the lemmings you refer to? Do you mean the people who bought shares a few months a go at 3p and sold for 12p a couple of weeks ago?
Happyzone - I agree. There are a couple of members on here that seem to live in a fantasy world, making up wild tales of large settlements, governments caving in to tiny, broke foreign companies and dreamy gas production figures. It makes you wonder just what is their connection to Ascent and what is their motivation for telling these tales.
Brassic - I agree. There is a lot of gas and oil in place in that field, hence a lot of money to be made by a company that wishes to be successful as a gas and oil producer. Slovenian secondary recovery processes are very poor and tend to leave a lot of oil production behind. Even the two PG wells could produce long term without stimulation, given the proper surface equipment was put in place.
I wish I could generate money as easily as the Ascent BODs. I would use it to develop the field.
The Slovenians are difficult to work with because the still lean toward a socialist system, but you can work with them if you know how. You have to realize that Slovenians could care less whether Petisovci is developed or not. There are getting their gas at the moment and all is well.
Twistor - The letter is Ascent's side of the story. Slovenia, I assume, has a different take on what transpired. Hence no settlement.
Slovenian Mining Regulations, in force at the time, state that even low volume fracturing "MAY" require an EIA. I assume that is the loophole the Slovenians will use.
Are we to assume that since the settlement offer has been rejected by the Slovenians, Ascent will proceed with a formal lawsuit immediately?
Perhaps the Slovenian government wanted the March 19th deadline so their legal team could look closely at the facts.
And perhaps that legal team decided that Ascent has no grounds for a lawsuit and no chance of winning.
Perhaps that is why the didn't offer a settlement.
oldblue 1973 - I don't have to Google the gas price, as I know what it is.
As for my other question, I Googled it, but I can't find anywhere that tells me how long PG-11A will produce.
You indicated that it was 3 months and I just wondered how you came to that conclusion? Are you basing it on flow test results? Drawdowns? Liquid production? Formation declines?
oldblue1973 - Is that after production costs (what actually goes into Ascent's bank account)? I know AST pays Petrol Geoterm to produce through the CPP facility, a large part of the production costs.
What do you base the three months of production on before the well is unproductive?
The RNS stated exactly what I thought it would state.
The facts as I see them:
Slovenia believes that Ascent can't win the case and has decided to go to court.
Nothing is happening on the Cuban front.
The agreement with the JV partner is no longer in effect, and it seems Ascent has somehow broken the contract.
I am glad they finally decided to produce what they can from PG-11A, but I have to ask. If the contract with the JV partner is no longer in place, who is making money off of the gas sales to Ina?
Gas sales should show up as revenue on the books.
ndmLSE - I understand, and as oldblue1973 states correctly, if you bought AST a year ago, you are up 600%.
Which is great news for newer shareholders and large institutional investors, but doesn't do much for long term shareholders.
The company's perceived value has increased 600% but the actual assets have decreased. Such is the market, and a function of AST always "waiting" on some approval or another to keep interest up.
As I have said before, there is money to be made in trading AST in the short term. If a settlement with Slovenia comes through, share price will increase as we wait on some approval for Cuban operations. Board salaries will continue.
Last I read 40% of AST is held by insiders and 25% by institutions. Make sure you follow their lead as closely as you can, if it is even possible.
https://www.finder.com/uk/buy-ascent-shares
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.