Come on ASTA!!25 Jun 2014 19:51
Why are we unique? At present ASTA is the only AIM listed company to be strategically intergrated in Mexico's O&G play which is the tenth largest producer in the world with reserves up to 85billion barrels strong.
PEMEX is the chief operator in Mexico who in April alone produced 75 million barrels that month equivalent to 2 million BoD not 50 or 800 bod, we are talking major production boys here, it's eye watering.
Production has seen incremental decreases and now a policy shift will see infiltration from major western operators including Chevron and ESSO for the very first time in Mexico history. Official bidding for such licenses will comence in mid July. We will not be competing for these, predominantly, off shore projects instead our aim is to concentrate on mopping up the smaller licenses and be intricately involved in PEMEX's retained fields to enhance\ stimulate production I understand this will be around 30-40 licenses. This is were our venture with GEO becomes so valuable.
Mexican based GEO have 400 personnel and historically have proved techical expertise and equipment etc directly and pretty much exclusively to PEMEX. Somehow Stefan has pulled off a signed agreement/ partnership master stroke with GEO.. that's right little ol' us now with an MCap of £2M and project evaluation of £1M tut!!!!
In fact Stefan was travelling from Dallas on Saturday to Mexico City on Sunday to further discussions, I look forward to hearing an update specifically on this progress. To this end, to compound our active integration into Mexico's O&G heritage we are expecting the appointment of two experienced non exec (NEDs) to the board who have significant ties in Mexico's O&G industry. Disclosure of this detail is imminent. The rebranding is also an exciting proposition now all the ASTA old guard have been kicked out!!
Basically our CEO has spent 90% of the last three months working his but off holding discussions and talks either in Mexico itself with GEO, PEMEX and indigenous operators etc or with our Nugal connections in Texas and Dallas. This ex broker is on a mission and for me I'm proud to be part of it. Let's look forward to the future here and stick down some facts rather than be bullied by intraday SP shinnangons. For those not familar I will post the chairmans Doc interview from a week ago or so which details ASTA's progression in Mexico turf. Bring it on. From my phone. DYOR ATB