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oldblue1973 - I suggest you DYOR and check the actual production figures for Pg10 and Pg11A for Oct 2021. The figures released in Feb 2021 were artificially high because they were the initial production from Pg11A after it was shut in. Pg11A had been shut in for many months at that time and wellbore and formation pressures had built up. Pressure was noticed on the annulus, indicating a problem downhole, and the well had to be bled down. The flow rate quoted in the RNS was the very high, initial bleed off pressures. As per all tight formations, once the initial pressure is bled off, flow rates drop like a rock.
The rate in the RNS was accurate at that point in the flow. It is a deceitful process all producers use. Not really a lie, but not really the actual capability of the well either. The facilities at CPP can not handle the amount of water that Pg11A produces, so the well cannot be continuously flowed.
But you can believe what you want.
oldblue1973 - Checked out the link you included in your post. Pretty pathetic performance by the board, and it only cost 300K last year! Anybody who made 150K from their AST holdings last year, please raise your hand. Lol
Can anyone enlighten me as to why some one would sell or buy 27 shares? 14 shares? Even 1,000 shares?
What is the purpose of such small trades? The effort to actually do the trade would not be worth it.
There must be a reason. I wonder who is doing it and why?
zoggz - Well said. There were many clauses in the contract with GeoEnego that AST has broken. Each one of those clauses was enough for GeoEnergo to tear the contract up. There is no word yet if they have or not, but then why would the BOD announce that? The Cuban MOU expired long ago and Ascent has no assets anywhere, that I can see. This company is being run by a bunch of guys who have no idea about how to make a company successful. They do know how to raise funds though. But after a while that no longer works either.
IMHO / DYR / Etc / Etc
oldblue1- We used to do a lot of things in the oilfields that were approved then and are not approved now. Regulations change and the producers must change with them. If an EIA is required, just do it! Don't sit and whine and point fingers. Just get it done and get to work making money. Bad decisions have been made since Colin left.
Maybe the BOD will pull the old "somebody is interested in buying Ascent" ploy and they won't be able to release any info to investors.
Oldblue1973 - Yes, there may be 12 billion m3 of gas in the ground in Slovenia, but Ascent owns none of it. They had a chance but blew it after Colin left.
I would think this board have probably siphoned about as much cash as they can from AST. I can see a board change happening again soon. Then, new management, new ideas, new "pie in the sky" projects and the merry-go-round starts again.