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Zoggs - I am glad you are feeling more secure in what is happening at AST. It is great that Parsons trusts you so much that he can share secrets with you that you cannot share with anyone else.
I would think that he has a rehearsed speech, part of which he gave to you, to build up the company and it's activities.
I don't expect the BOD to tell anyone that they have accomplished nothing in the past couple of years, other than to draw large salaries and further dilute the share price.
It changes nothing. No activity in Cuba, no activity in Slovenia, and now Peru gets thrown in the mix.
I will be the first one on this board to give the BOD a pat on the back when they actually do something that makes the company more successful.
IMHO / DYOR
Oldblue1973 - Not quite. The stupidest thing is watching people who are supposed to be working to increase the value of your shares, do nothing, and then not even speaking up about it. And to compound it, to continually blame others for the BOD's lack of activity!
Those regulations have been part of the Slovenian Mining Act for many years. This is the type of fracking that has been carried on in Slovenia in the past, and should have been the type of fracking applied for by Ascent. I'm sure they will still require an EIA before approval is given to frac.
But that should be no problem, after all, Ascent has been preparing the EIA for a couple of years now. Must be almost done.
Or the announcement may have been made so GeoEnergo can attract potential JV partner to replace AST, as the JV contract expires in a matter of days.
They needed to generate income not new placings!!
If they had made a move to make the company move forward, the money would have come.
This BOD, and the previous one, have done nothing for AST.
Those statements are not opinion, they are the facts!
kenj - Exactly! The losses were reduced through layoffs and reducing / ignoring monthly commitments, leaving just the board's salaries. I wonder if there were any bonuses paid for 2021? I know many people would throw stones at me for saying this, but it would be nice to have Colin back in charge at AST! At least there was progress during his tenure.
It is nice to see Parsons buying shares and investing in the company he is in control of, but I find it odd that he does this only in the month of December. Maybe it helps with his taxes? Maybe another January announcement? IMHO / DYOR.
Kashdog - I think the only statement a person needs to know from the FT report is this one:
Year on year Ascent Resources PLC had revenues fall -100.00% from 298.00k to 0.00, though the company grew net income from a loss of 3.66m to a smaller loss of 2.83m. IMHO. DYOR.
Kashdog - I would hope the BOD would correct this media error. Honesty is the best policy.
Cuba projects a seventh consecutive year of falling crude production in 2021, aggravating a fuel deficit that allied supplier Venezuela has not been able to offset.
This year Cuba will produce around 44,700 b/d, down by 6% from 2020 and by 23% from 2014, according to official statistics and other Cuban government sources.
https://www.argusmedia.com/en/news/2243420-cubas-oil-production-to-fall-for-seventh-year
Wood's LinkedIn profile
https://uk.linkedin.com/in/malcolm-graham-wood-bb901514
I agree. Let only the facts lead you to manage your investments.
It is too bad that AST doesn't release the facts. The twisted words of this BOD only promise activity, they do not deliver it.
Production figures and expenses should not be this difficult to find, they should come straight from the company.
Contract terms, as much as possible should be conveyed to the shareholders.
It seems this BOD can't even be bothered to make up stories to help make the company look good any more.
It is hard to find the truth, unless you know someone on the ground in Lendava.
kenj - Just shows the integrity of this BOD. They don't pay their bills and then accuse the creditor of shady dealings!
I don't know where the money will come from to pay those bills. There is no production from Pg11A and production from Pg10 is under 10,000 m3/day. Maybe another offering?
What angers me is that AST could have been so successful with the Petisovci play, if only the right people were in the right positions.
Kenj - And let us not forget that the contract with GeoEnergo, if there is still one in force, is due to expire in January. At that point AST will have no revenue, or any chance of being able to do anything to generate revenue.
Date Time Trade Prc Volume Buy/Sell Bid Ask Value
17-Dec-21 14:47:30 3.75 200,000 Buy* 3.50 3.70 7,500
I am curious why someone would pay more than the ask price? Previous trades had the shares selling for 3.50. Why would someone bid 3.70? It doesn't make sense to me, unless someone was trying to manipulate the share price. What am I missing?
Pinguser5 - Has this board has done great things, as oldblue1973 says? He must have forgotten to do his own research. My research shows that the board has taken the share price from 14.25 in Feb 2021 to today's price of 4.0! Yet the have siphoned off 250K in salaries over that period. What a great bunch of managers they are - NOT. I am thinking oldblue is closer to the board that we think!