Member Info for Gerry65

ironic - see you're still posting your doom and gloom across many bb's ( Mr the end is nigh sandwich board man ).

cheer up my friend it may never happen.

have a great weekend.

G

Sorry Reso I've just realised you replied on behalf of Rosewall.

Thanks for the confirmation.

G

Rosewall - thanks for that.

Think you know, over the last 18 months I've become less trusting of CH's verbal statements. This is based on his youthful enthusiasm during pod casts, I've not met him personally.

Too often his hopeful confidence hasn't always come to reality in terms of time frames and outcomes.

The Oct 2017 placing increase was the tipping point for me. So nowadays I like to see important landmarks detailed on an rns. Call me old fashioned lol.

So think we can agree the concession renewal process is still in progress.

I expect we will see an update in the principal risks section of the up and coming finals

Cheers

G

Rosewall - just glanced at the AST website and it still indicates on the operations page that the concession runs off in 2022.

is it possible you are mistaken or does the website need updating ?

cheers

G

Rosewall - I'm genuinely unaware of any extension, to the concession.

It's been my understanding that the concession expires in 2022, which was detailed in the 2017 accounts.

It's been one of a number of Areas of concerns for me, going forward, be good news if it's been resolved

When was it renewed, do you have the new expiry date, and which rns have I missed ?

Thanks for the heads up, and in anticipation of info on this from your goodself.

Kind regards

G

Lejjb - hopefully more info regarding the concession extension, will be available in the finals, due out very soon.

Particularly as the documentation for a renewal has been in preparation for over a year.

I agree with you, a long renewed extension would remove a principal risk and would I suspect have a positive impact on the sp, and in addition as you suggest, reduce the likelihood of a very low ball bid.

Though any possible suitor would ultimately be answerable to it's shareholders, and imv would be unlikely to invest without the comfort of a long concession., After all it's only three years till it's expiry in 2022.

Still this is aim so anything is possible.

Gla

Sorry Lejjb - predictive text on your posting handle, lol

Lenin - not sure that euro 50m has actually been spent on the project.

Could be a challenge to calculate exactly what has been spent and where though by working through the accounts I guess it is possible.

That figure sounds closer to what may have been raised over the years from shareholders.

Again I'd suggest a restricted well permit may be an option for the Slovenian authorities.

Have you heard any news on any extension to the actual concession since the statement in the 2017 finals published over a year ago, where Ast updated the market saying at that it had been working with its partners for over a year in the completion of the paperwork required to apply for an extension past 2022.

Maybe there will be more news on this front in the finals which are due in the next 2/3 weeks.

I'd expect both permits together with the concession extension would be a pre requisite for any potential JV.

Gla

I'd surprised if any offers came in before both the IPPC and well permits were granted and that the appeals period had actually elapsed. ( I may be wrong of course, as anything can happen on aim and often does ).

Entering into a JV is slightly different than a Twitter post, and a bit of ramping to gain a few quid, on a quick buy and sell. It's a major financial commitment.

I've posted before that I feel there are agenda's at play here, and the Slovenian authorities have been happy to allow matters to progress at a snails pace.

For any major progress to be made the stimulation permits are a must. (we call it stimulation though environmentalists have another name for it ).

It's not beyond the bounds of possibility that the Slovenian authorities could issue a restricted re stimulation permit, say for 3 to 6 months, or only to cover the two existing operating wells. With a further ongoing review. That would likely scupper any legal issues, whilst delaying the project further.

Don't forget the Slovenians have very limited gas storage facilities, which is why their present contracts are on "take and pay".

Finally surely any JV would be contingent on the actual concession expiry date of 2022, being extended. There has been no mention of this since the notes buried in the 2017 end accounts published this time last year. ( For those who haven't read the detail in the accounts you can find it under the notes for principal risks and uncertainties ).

Gla

michaelwood47 - agree still a massive amount of goodwill, even after recent write down impairment.

the true value of the remaining goodwill, is important, without it the nav position would make grim reading.

Lejjb lol

in the land of the blind the one eyed man is king.

am signing off to watch the footie, will look in tomorrow to see if any of my questions / concerns are answered overnight.

G

ultimately everyone who buys shares in a company will at some time in the future will be looking to sell on the shares to someone else.

hopefully at a profit, but often on aim at a loss.

many trade or buy on rumour, news, sentiment, trading volumes, charts etc.

people tend to disagree on most shares on these bb's, especially, exploration shares with no or limited income, where fund raising is an inconvenient necessity.

the key is not to fall in love with any share or project.

these bb's are for debate, regrettably when someone like myself asks challenging questions as i have today, those with a glass half full seem to become frustrated, and often avoid the debate.

imagine an aim share where only positive posts were allowed, rampant hyping and a fair amount of bs would probably increase the sp, some would do well, but eventually the pyramid would collapse in chaos, as sooner rather than later, people would realise their profits based on their ramps leaving others to carry the can and take the loss, as the rose tinted glasses come off.

With Ast the long and winding journey continues, and whilst ignoring those with a differing viewpoint is one strategy - perhaps a better plan would be to look at questions and concerns raised, and answer these with cogent argument. You never know you may get a convert, who may ultimately be the person who buys your shares off you when you wish to cash out.

As with many aim shares there are many possible futures for Ast.

Gla

Moniman - no doubt if "failing grayling " has his way, the franchises will be awarded to companies who don't have trains.

G

11 percent of Slovenia’s energy consumption, most of which is based on a take-and-pay contract with Russia’s Gazprom. The state-owned gas company Geoplin recently signed a five-year natural gas supply contract with Gazprom to import 600 million cubic meters of Russian natural gas per year. Gas storage facilities are limited, however, with companies dependent on infrastructure in Austria and Croatia. Slovenia’s natural gas infrastructure company Plinovodi hopes to work with Hungary’s FGSZ to construct a new gas interconnector to link Hungary and Slovenia, a project the EU has designated as a Project of Common Interest and which qualifies for funding through the Connecting Europe Facility. Investment plans through 2018/19 in the transmission and distribution system also include the modernization of national dispatching and local distribution control centers, the renovation of the transmission grid, better control of reactive power in the system, and the completion and renovation of the east-west 400 kV transmission with Hungary. However, a lack of financial resources has postponed these projects.

Roughly one-third of Slovenia’s electricity comes from hydroelectric sources, one-third from thermal sources, and one-third from nuclear power (with non-hydro renewables constituting two percent of the total). Almost half of Slovenia’s total energy consumption consists of imported petroleum purchased on global markets. Russia provides most of Slovenia’s natural gas, which accounts for 12 percent of overall energy consumption. Slovenia uses approximately 0.8 billion cubic meters of gas annually, most of which is based on a take-and-pay contract with Gazprom that it renewed in April 2018 for five years.

nforapuntor2 - Slovenian gas for Slovenian has been discussed on here many times in the past.

At the moment Slovenian has contracts in place for the import of gas supply, over the coming years, and it's highly unlikely that it would wish to replace these secure deliveries whilst the contracts are in place, there would break clauses and costs and penalties if it were to do so.

The imported gas is, reliable and i have not seen any evidence that taking gas from AST would be any cheaper. AST has a long way to go to demonstrate that it can produce reliable levels of gas.

The two initial wells were chosen as they were seen as the best two options to get gas to surface. The fall off in production level has been huge in the first 15 months. Hence work overs are required.

Why is it do you think that AST has not developed some of the other wells in the field ?

The structure of Slovenia's existing power plants as with all countries is under review.

It is possible for example to convert a coal fired power plant to gas, but it's my understanding that feasibility studies, suggest that the more financially viable long term, solution would be to close such older power plants and build purpose built new gas ones.

This costs money,my friend, who will bear the cost, the Slovenian people would be my guess.

GLA

TPT - what are the purchase or lease costs for a compressor ?

What levels of production will be required to create a monthly cashflow B/E position ?

What is the time frame for delivery ?

GLA

I noticed some guys bought in at 0.94 & 0.95 early doors this morning.

Those guys now need a 50 % increase from present mid price to recover their buy in monies. Prob a bit more with the spread.

Gla

this is aim - get in get out - don't hang about.

gla

Yep - Not-2sure - Cash at Dec 2018 £1076K - less negative cashflow in the 6 months to June 30th 2018 ( £499k ) - left £577K at half yr end.

Closing cash at 30 June 2018 was £577,000 which includes £351,000 of restricted cash that is held on deposit as over for the €400,000 bank guarantee which supports the INA Gas Sales Agreement. As previously announced, following some amendments to that agreement in July 2018, the bank guarantee has been reduced to €200,000 and therefore a portion of these funds have been moved from restricted to unrestricted cash, post period end.

GLA