Ben Richardson, CEO at SulNOx, confident they can cost-effectively decarbonise commercial shipping. Watch the video here.
as it carries the 'Mole' driven by Virgil Tracy and he's an expert I saw him on tv do it!!!! He can get to the oil not Willis. Anyway 88E not flavour of the week what with Vast and UKOG primed apparently. Just got to have faith here even the new placees who are almost under now. Pivotal to say the least for this company
Methinks also that the longer no news as each day passes the 2p floor will creak and break. Monday we may see new lows tested if nothing materialises in this impatient AIM market. The next RNS in two or less weeks will need to have such words as success, hydrocarbons traced and pressure and of course commercially viable somewhere. A number with three digits would be the cherry!!! However I think problems will be hit and two or three attempts will have to be made before success (Id like to think failure is not an option now) It has to be said though if this proves a failure a very BIG questionmark hangs over the management and their expertise
The pump is over as is the euphoria and the positive sentiment now replaced by nagging doubt, water, not understanding the process, impatience and UKOG froth *today) all ingredients to depress the sp. That and profit taking of course. So now 88E/BoD need to prove they are experts in their field of commercial oil discoveries using all the available techniques or this company is pretty much going back into a long hibernation with a sub1p sp BUT if over 80bpd can be produced or higher then we could have a UKOG rocket and some!!!
Methinks no-one is really surprised by this drop over the week or so. The sp got way ahead of itself even before 11/6 If the AIM Market was logical the sp would have remained dormant at the placing price perhaps with a minor spike when initial clearing of winter debris proved nothing untoward. However a rise to 3p was way overdone. Todays missive was clumsy and unnecessary I think why not just state flow testing has started on Monday and leave it at that. Of course pressure is down and water is present and no oil that was made clear in previous predictions and explanations what would initially happen but the fear of water and the over the top euphoria (pump) has now caused this peak and trough weekly spikes Now a daily early morning and late evening trading share until oil or just water is discovered. If its the latter all those tests and predictions would seem to show even todays technology is unreliable which I find hard to believe. As someone said earlier the oil is there its how easy it can be obtained commercially. Its probably 60/40 COS Im thinking
No FOMO more like risk aversion for now and profiting from the rather frothy rise and euphoria of last week or so. Now the pivotal short term moment is soon upon 88e and traders are withdrawing leaving investors remaining. Next week will be intriguing
So thats the penned in date for the restart of flow testing but apart from perhaps an RNS stating thats underway Im not following the FOMO for this coming Monday at all. The 21st June onwards is the crux andor pivotal moment for 88E and Icewine2. Unless of course results are that good or disastrous an announcement could be published to investors before the earliest said date above. The Board will however advise once the additional 10% (3/4k) of frac fluid is extracted maybe then the 'business' starts..hopefully. I suspect imho that the slide will continue back to 2.20 if the herd dont get a rns on Monday. Then maybe a slow climb.Just guessing though.
seems some knew about the rns yesterday Im thinking after that sell off. Oh well at least money is being made and the IPPC is a millimetre further down the approval pipeline so to speak. Amendments and explanations delaying matters. Surely this far down the line such requisites sought will be addressed in weeks rather than months.
Best that investors trapped in this disappointing company can realistically expect nowadays. However as stated the IPPC is now in a time vortex of uncertainty when approved though another small step has been taken regarding amendments so at least its being processed. At least more cash obtained and with condensate! The next quarterly update/or RNS before the AGM will make or break the sp as either PG11a is working or the problems persist putting more pressure om PG10 to perform and the Board come to that. No mention of interested parties not even a hint of ongoing talks so I am assuming nothing has happened of note. All in all this year has become a debacle but still time to turn it round but AST has found itself unloved not to be trusted and a poor investment to date methinks Expect a few hundred emails will be sent to the Board today. As for the sp ...well could be a small trading opportunity
are there as a case of need as the strategy update did emphasise that this outside interest could end up inconclusive. The fact the BoD could lose their jobs I dont think is a blocking problem for shareholders as the voting in favour would outnumber their paltry holding Id have thought. If a placing was to proceed and it would only happen if nothing came of the 'interest' methinks then the confetti will be issued and then the consolidation 10:1 would occur.
Taking on board the shareholder revolt and disappointment and the getting together as a united body maybe a specific list of pertinent questions should be prepared ready for the AGM in view of the fact the meeting will be timed no doubt. Additionally the questions could also be included in email correspondence ensuring the CH/CC are aware what they are expected to answer. Saves on repetitive questions and time wasting. Just thinking out loud
alright as I've emailed them a few times with the rumblings of disheartened if not riled shareholders including myself regarding past unexpected events and economies with the truth. CH does respond but only to non contentious matters bypassing topics such as cuts in directors remunerations to reflect the abysmal performance and /or buying up more significant no. of shares to show support and belief. Rather than send tweets and ranting on BBs just simply back up your disappointment and email the AST BoD as those are read on a daily basis (if not done already). The more mail perhaps the more urgency to act on shareholder requests sooner Id like to think. Personally Id like the removal of CC as chairman. I mean what does he do all day? Cant help but think this up for sale /plea for partner is the one and only plan the BoD have because if there are no forthcoming parties then who will partake in any placing if the assets have been shunned/ignored so openly. An RNS update soon is needed to act as a defibrillator preferably with excellent concrete news
If they sat on such good assets i think a t/o would have happened a while back however now the sp has capitulated either a cheap offer maybe forthcoming or a heavy dilution in ownership of assets. AST is not in a bargaining position until IPPC and/or PG11a is fixed permanently and it would help also to get the 2022 agreement extended as well. So far the BoD have failed to produce. and the big worry is if they dont get any interested parties on favourable terms would imply the BoD have clearly overvalued the assets. Boy this AGM is gonna be turbulent !!
Now that we know for sure PG11a is now suspended indefinitely (albeit was not contributing that much despite the initial hopes of the BoD ) cost of tracing and fixing must be a negative to cash flow plus drop in gas prices from winter peaks and 33% drop in production flow. I was hoping for a reassurance in that last RNS that despite the disappointment income was still a healthy profit to the company. I emailed our leader but he failed to confirm just waffle and expectancy that the broken well will not have any effect on possible valuations for a partnership or sale deal. Personally now thinking whether this Board are utter f...wits and really not sure where to turn now as problems snowball or whether they have the acumen to resolve this disaster. The only real lifebelt that can be thrown here is the granting of the IPPC which would I feel rescue this carnage but again AST are seemingly impotent in pushing that through