Member Info for EmeraldCarrots

no idea that Slovenia has massive problems with Environmentalists who use the Slovenian legal system to delay for litrally several years or stop altogether all sorts of investment in their Country. It's completely crazy as far as I can see.
Other than us I have now found out about a TEN YEAR (so far) delay in rebuilding an old sports stadium, the paint shop Company that has been delayed I think 2 years who continually have to threaten to build the new factory in Hungary and a wind farm that was objected to so many times it was, after several years cancelled!!!!! Why would ANYONE want to invest in Slovenia!!!! Complete madness. If you need a permit then forget it.
All IMHO.

the problems getting permits in Slovenia willl once again be all over their new channels, and indeed elsewhere.
Really. I think their Government must be crazy to to let all these probles happen. I mean what avout the stadium that has been deleyed for................. TEN YEARS. Then there was the wind farm that was NGO'd to death over a similar period!!! Yes. they stopped a wind farm!!! No-one in their right mind is going to back ANY investment in Slovenia if you ask me.
All IMHO.

Desmond45.
I don't believe the board are crooks. The problem seems to be this:-
For any wells to make money at this gas field they need to be hydraulically stimulated. This was done to the 2 existing wells back in around 2012. They now need to be stimulated again, and in time so will the other 7 or so existing wells that are shut down at present. This stimulation process is in fact NOT fracking as similar has been done in Slovenia since the 1950's. The word fracking was coined in the USA when, in the 1990''s they started using horizontal drilling combined with "industrial scale" hydraulic stimulation to get gas from gas trapped in SLATE (Ascent gas field is sandstone). Unfortunately a Slovenian extremist decided that Ascents hydrauluic stimulation might poison the water table and managed to get publicity including going on the tv. Then as far as I can tell, some people who work at their Environmental agency ARSO decided to take the law into their own hands (as hydraulic stimulation and even indeed fracking is NOT banned in Slovenia) by simply delaying (for ever??) any permits for Ascent and it's Slovenian partners. Other then the stimulation permits we want a permit to build a gas processing plant. For that we need an IPPC permit. Ascent applied for it nearly 5 years ago. In 2016 it was issued only to be revoked illegally by a slovenian court after an NGO appeal. Even after the appeal was quashed guess what.......... ARSO STILL have not issued the IPPC permit. Basically we are waiting on the 2 permits for the 2 wells plus we are still waiting on the IPPC permit. Ascent are very, very likely to issue legal proceedings regarding the IPPC permit for very, very obvious reasons. The bottom line is, at least as far as I can make out, ARSO have and are deliberately witholding the IPPC permit even though it actuall has nothing to do with stimulation or fracking. I believe this is completely out of order and indeed illegal. The other problem is the relatively new Environment minister, Jure Leben seems to sympathise with the NGO's and indeed has recently helped the delay by instigating an "internal review" of procedures last October which delayed the IPPV permit for another 3 months. The pretext he gave was to improve the permitting system believe it or not..................
All IMHO.

Traderr.
Why? Would make zero difference.

She says she has raised the matter of preductable time scales with the Trade, Environment and Finance ministers. If it's like our Government the Finance Minister will be top dog out of the three. I would have thought the Trade minister would be more interested in drumming up investment than kicking up a fuss about hydraulic stimulation which has been carried out numerous times in Slovenia with no one dying of water poisoning or crushed to death after an earthquake that I am aware of! Hopefully Mr Leben, who I think is a bit of an exteremist, will get over ruled by the Finance and Trade ministers. I feel sorry for the trade minister as it has become apparent Slovenia has a system that extremists can use to delay investment projects for many, many years quite easily. It has been in the media over there a lot so getting any Comany to invest, Slovenian or foreign will be very difficult indeed.
All IMHO.

I remember 30 years ago Britain was not so "open for business" and welcoming external investment.
Then slowly people realised that it's a World economy and welcoming Nissan etc. was actually good for jobs etc..
I now wonder if most Slovenian people are more like we were 30 years ago.

scott1092.
I feel sure thet if we have no permits in the next week or so the legal fight will start. If it does not people are going to get more and more annoyed with the board IMHO. They will have to act soon.

since our application for the IPPC licesnse was given back to ARSO after the internal review. Five weeks. We already know that before Jure Leben called that review (delaying things for another 3 months or so) the former Director General had verbally assured Colin that the IPPC license was imminent. So on asks one's self where is it? I submit that any court that functions in an honest way will rule that the near on five year wait we have had is completely unacceptable and indeed unlawful under Slovenian law. Even if we have to have EU court rule on it, which is likely.
All IMHO.

1. 14th January hand deliver letter to ARSO with Jure Leben copied in to say what our solicitors have concluded and why we believe we have such a good case to get the illegal revoking of the IPPC license in 2016 overturned. To also say we will be claiming damages ........ ?? 100 million Euros???
2. No permits by close play 25th January then on 28th hand deliver writ to ARSO with Jure Leben copied in.
3. If the on-going operations are losing money then plan closedown and redundancies in Slovenia, then impliment.
4. Colin does further articles/interviews to explain why ARSO and Jure Lebens actions have caused the legal action for damages and the moth balling of all operations with the resulting Slovenian redundancies.
5. Keep outgoings to bare minimum while legal action goes forward.
All IMHO.

stockdale.
I agree. This is why I want Ascent to get the case together and send the letter setting out why we will take legal action if we don't get the IPPC permit by x date. We would have to give ARSO a few weeks until that x date. Then, when we don't receive any reply we can instruct the solicitors. I think the letter should be hand delivered with witness on Monday 14th January. Then we instruct solicitors on Monday 28th January.
My gut feeling is it's going to court sooner or later anyway...............
All IMHO.

Brockster.
Good point. I wonder if the report did say it took too long etc.. Maybe only choice parts of the report will be mad public? I think there are some very dificult questions for JL to answer regarding this affair:-
1. Fracking is not banned in Slovenia by your parliament but have you decided to stop it anyway?
2. Can you publish the email from the person or people that you say threatened your life? This is because a lot of people don't believe you as the emails shown to date seem to be insults and not threats to life.
3. If these life threatening emails exist how do you know they were from shareholders and not from NGO's pretending to be Ascent share holders? As nearly all Ascents shares are held by people through broker nominee accounts how can you possibly prove the emails were from share holders?
I can easily think of more questions I think Jure leben would struggle to answer honestly.
All IMHO.

stockdale.
How do you know your comment "JL is still not allowing ARSO to issue the permits" is true?
I believe it's the ministers job to make sure the rules and laws are applied correctly. Not to as the saying goes "take the law into his own hands". Fracking is not illegal in Slovenia. The minister should make sure the rules and laws are applied correctly, no more than that. If he is bias surely he is going beyond his remit?
Alll IMHO

stockdale.
You say JL is clearly opposing the issuing of permits. How do you know that?
If true it is good for our legal position.
Ministers are supposed to follow the rules and laws of their Country.
Also JL instigated the internal review, he said, to make sure no undue pressure has been put on the people in ARSO.
I submit that if what you say is true it is JL himself that is putting undie pressure on the people in ARSO to not issue the permits.
The legal case as far as I can see is extremely good........... and getting better.
All IMHO.

not to have grasped the reality here, despite what has, or should I say has not happened.
1. Ascents bank balance is now going backwards. Only one well is producing and it is highly unlikely it even covers the overheads. Therefore the bank balance is going down. Eventually without money coming in Ascent will go broke.
2. ARSO have taken to date nearly FIVE YEARS to process one IPPC permit. We don't know whether they are understaffed, incompetent or corrupt. It matters not. Ascent cannot carry on without permits. Colin seems to believe time and time again lies about getting the permits.
3. The minister Jure Leben gives the impression he is unconcerned about the time it has taken to process the IPPC permit. Indeed his actions have ADDED around three months to the process that may be never ending.
You really need to WAKE UP and stop being so optimistic when there is nothing to be optimistic about. Ascent are in deep trouble and you keep piping on as if everything is just fine. Everything is a very, very long way from fine!!
All IMHO.

by close play next Friday I'm going to be emploring Colin to go legal. It will have been 5 weeks since the end of the so called internal review started by Jure Leben. After the review the permit papers were given back to ARSO Ascent were told. As their own Director General told Colin BEFORE the review the permit was imminent there are no excuses left. More delays would be just laughable by all including a court IMHO.
All IMHO.

Do we need a permit to go n the beach?

Jaytem:-
"And....
Oh look. Its going to end the day flat."
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Hello. Not flat. Up 16% 0.3p/0.40.

What have you got against chalk???

WHYAST1605:-
Why the hell is he still waiting for permits?
Legal action is the only route...the damage has been done therefore AST and its shareholders should be compensated...
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Hello,
1. Solicitors have been working on this. Both London and Slovinian solicitors. They need time to check our case is likely to win.
2. The internal review our mate Leben instigated before Christmas did not conclude until 1st Week December. It then went back to ARSO. They have had it back what........4 weeks today. As I posted before we need to allow them time so one more week as far as I am concerned. Their previous Director General said just before the internal review the IPPC permit was imminent. How can ARSO possibly STILL not issue the permit!!!!!!!!!!!! If nothing next week then serve the writ is what I say.
All IMHO.

Jayterm:-
t's just been cynically walked up by someone using very little volume, and it will collapse when that money is made.
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Hello. Nonsense I'm afraid. Please explain this "walked up" I see a lot on the bb's. Bet you can't. The sp is up because more shares today have been bought than sold. Not all of todays trades need to be shown today. Very big buys and sells can be not disclosed for up to I think it's 10 days. Most likely there is one or more 1m or more buys that have, or are happening that have not been disclosed yet. Maybe later doday or another day. The best price to judge a gain or loss is the bid. The ask can be all over the place making the % look more than it is.
All IMHO.