Member Info for EmeraldCarrots

than last winter. About 28 Euros per MWH now........ amazing.
Also we have Brent crude oil at near 4 year high, around $82.
Erm..... how much is the gas/oil field worth again??

tomorrow is Thursday.

anywhere. Just wondering if you can.

Still tomorrow and Friday I suppose. Then of course it was AST that assumed the permit would be sorted by end September, not ARSO. Having said that the RNS's five the impression ARSO verbally at least agreed the permit would be sorted by end September. A tad close to end September as in day after tomorrow!!

reso:-
You wont be getting one anyway. CH had already stated the processing plant wasn't viable, when gas production started. He must have known the wells would not be producing enough to justify the plant.
2022... Maybe? Or never!
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Hello. I don't believe CH stated the new plant was not viable. Not needed yet is what you know was said I believe. There is a lot of capacity in the pipe to Croatia and INA could clean up the gas and sell a lot more gas than they do now.
The IPPC pemit is permission to build new CO2/water scrubbing plant to clean up the gas and sell it direct to the Slovenian grid withpout selling it to INA at about 30% discount for them to clean up and sell. If the finances become available for the development of the whole gas field like Ascents long term proposal plan the plant would be needed. Thus the expected IPPC license will instantly make the gas field and therefore Ascent more valuable. It's like having planning permission for an extension or your house. As soon as you get planning permission value is added.
All IMHO.

until this month is ended.
Not another failure I hope.

Yes. Clearly the Slovenian authorities have never confirmed in writing they will process any permits this month.
Having said that it is highly likely they gave verbal assurances at the chamber of commerce meeting which spurred Ascent on to issue the RNS.
The Slovenian authorities really need to sort at least one permit out this mointh or they will be ridiculed.
Hopefully it is not that difficult. Let's face it the IPPC one was issued previously. How hard can it be??

.........Lase winter it was more like 18. A 62% rise. Shame it was niot that price when we were getting 2.6 mmscfd from the wells. However the whole gas field is I suppose 62% more valuable that it was!!!!

The IPPC permit would be quite a good start.
I'm amazed it has not arrived yet.
I mean it's been issued before.
How in the World can it take so long?

stockdale.
I think that email is un called for.
Colin is now doing a 3 day week is he not?
I suppose you think he's watching the tv in the office?
The Company still have operations on-going in Slovenia or have you forgotten that?
Does the CEO not have any thing to do with that then? It all runs itself does it? No emails, phone calls at all??
If your dates are correct Geoterm submitted the amendments on the 4th September.
We know the authiorities over there are not exactly waiting in the corridor to grab and quickly process anything don't we.
Then there was a weekend in there. The 4th was a Tuesday. So there was Wed, Thus, Friday, then weekend, then RNS. All things considered I can see nothing wrong with that at all.

@ 0.883p

Speculation:-
1. The IPPC permit arrives, sp moves up to 2p plus.
2. Nothing for a few weeks.
3. The two permits arrive for fracking the existing wells, sp rises to 2.5p plus.
4. RNS to reveal a partnership with INA to finance the fracking of the existing wells.
OR RNS to reveal Ascent is to be taken over by INA for 3p a share.
5. Either INA partnership or takeover happen
OR another Co. makes a bid for Ascent @ 3.25p a share.
- potential bidding war?
Interesting month or so ahead!!!!

Did we not see a 6m trade show up a week back? These forms are not detailing trades today. I think there is a 10 day window for you to declare. So if you see a form saying x Co. bought x million they may well have already sold them. The market is rigged so you don't know exactly when. It's so massive buys or sells are not jumped on by investors they say.

steel with the IPPC permit seemingly arriving any time soon (see RNS).
After that the sp will be re-rated as it litrally means the CO2/water could be removed at a new plant in Slovenia, then the gas sold to the Slovenian grid, rather than now whereby the gas is exported to INA in Croatia at a knock down price. Also means Co's other than INA would be far more interested in a deal or even takeover for obvious reasons. Shen o I expect a re-rate to what.......... 2.2p? Then we have the prospect of "the deal" being announced...... or maybe before that the permits to frack the 2 existing wells?? All GOOD news and seemingly ALL to come in the next 4 weeks.
Interesting times ahead!!!
All IMHO.

presume? Last week in September after all.

what they should have done all things considered.
AST have reduced expenditure to minimum to conserve cash while we wait for the Slovebian authorities.
Colin and the board have done the right thing as they say.
If things turn out well maybe the board should re-name Ascent Pheonix Resources??
I see no reason why, with other Co's still interested and permits on the way that things won't improve significantly in the coming months. Our market cap is still �17 million, so the market has hardly written Ascent off has it?
All IMHO.

bradis:-
Is there any way we can get hold of the permit paperwork? Would love to see what it involves out of interest and why ARSO are taking so long.
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Hello. Apparently it's A4 white paper.
At the top it says "IPPC Permit for: NAME OF COMPANY.
Date: DATE.
Then there are 2 boxes, one below the other in the middle of the paper.
Top one says to the left of the box "Approved (draw x in box)".
Bottom one says to the left of the box "Not approved (draw x in box)".
They are having meetings to try to simplify this.

scott1092.
Do you know what they were being paid? I don't.
I can see Colin was doing loads and I have no issues with him. Some moan about the dates that were not met but in his defence he was passing on dates from others that turned out to be untrue. I think he's learned his lesson a while back.
Clive has been useful with the fund raising, especially Primary bid. Good we all go to take part if we wanted.
I think the following from the RNS is commendable:-
"In the UK non-executive directors have agreed to take no further payment from the business until the cash position of the company improves. The only executive director, Colin Hutchinson our CEO, agreed from the end of August to move to a part-time basis. Our office manager has also agreed to take redundancy. We thank them both for their continued hard work in difficult circumstances over a prolonged period.".
With this attitude AST ain't going bust. We have almost no debt and gas sales from well 10 on going.
All IMHO.

take part in a fund raising now?
For me we would need to have:-
1. The IPPC license.
2. The permits to re-frack the existing wells.
3. A partner to share the cost of re-fracking.
That would do me.
I have to say the sp would IMHO be 2p plus with the above in place thus easing my commitment somewhat.
Anyone else?

Pharaoh2012.
Lovejoy how does a company go bust when they own assets, have a revenue stream and have the option of asking shareholders to agree to a fund raise should the need arise?
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Hello. A VERY, VERY GOOD POINT. Ascent have almost NO DEBT, so they don't have some bank/lender about to demand their money back,do they?
I should think their overheads, that have been slashed including Directors not taking wages are covered easily by the current gas sales.
If push comes to shove they can convene another share holder meeting. If the circumstances are right I will support a cash call........... and if needed that cash call probably won't be more than £500K anyway.
YES........ So how does Ascent go bust??? No chance sporings to mind.
Colin and the board have done the right thing in slashing overheads until the Slovenian Government get their act together. We can wait about 'till Xmass. But with a small cash call (frankly I'd pay £1k just to frustrate any Co./Govenment intending to reap reward from what Ascemt have done) the Company could go on another year after that............ and more.
Colin and the board are going to make sure Ascent are around............. at leat until being taken over.
All IMHO.