Investors4 May 2022 12:15
Full disclosure…I was invested here for years, when I believed it had genuine potential and was producing and selling gas to Croatia before I sold out with a loss of £56k… my wife holds some but not a significant amount in her ISA, which explains my interest and continuing participation on this BB.
What I cannot explain is why some are continuing to invest as shown by todays trades! Unbelievable given that currently, the company has no operational structure, it’s not, nor will it ever, produce gas in commercial quantities without stimulation (fracking) which has no been banned, in all it’s forms by the Slovenian government.
The stock has been diluted to maintain BoD salaries and has no income. The little gas being produced is sold locally by the partner Geonergo to cover operating costs. Ascent Resources (uk) submit their invoices but there is not enough left for them to be paid.
Ascent are hanging on to a forlorn hope that they will successfully sue the Slovenian government. (See my previous posts for my view on that)
I can only assume that these investors are PI’s who have not undertaken any form of research or due diligence!…”a fool and his money are soon parted”… I know as I was one once!!