Member Info for lejjb

...and whether we get an RNS from Ascent confirming / denying an offer of some sort from Cadogan!

Gerry65 - there are worse names to call me, no worries. LOL.

Ascent explictly said EURO 50m several times by RNS. Half-decently managed accounts can allow to track what money has been spent on Slovenian activities.

Of course, the company could have repeatedly lied about about that figure, but they cannot be THAT dumb...

The Slovenian authorities can do whatever they want, they may just get sued if that breaks laws.

The concession extension is granted by a different ministry (infrastructure) that has been supportive and effective.

But your point about the pre-requisites makes theoretical sense, but Ascent would become much much much much more expensive, so I suspect really interested parties will make an offer before all the above is finalised to get a slightly better deal. It's all about assessing the risk to them...

Doubling up - what's your source for those 30 days?

The 18 April has been mentioned in at least 2 of the press articles linked on Twitter, and the timing of the deadline is consistent with the 15 working days that Ascent had to appeal Arso's decision re: the EIA for the restimulation permit.

(Since the IPPC decision was granted on the 28 March, again as per those articles.)

Gerry65 - a restricted permit like you describe wouldn't match the EURO 50m invested and would still contradict the legal requirements that Ascent described in its last 2-3 RNSs, so I really don't think it would allow Arso to get away...

Reso - under the terms of the JV agreement, Ascent pays for the legal costs (a crappy deal IMO...).

On that basis, I suspect (but cannot 100% back it up now) that Ascent can separately sell some of its own stake in the field part at least to pay for these costs.

If Ascent find itself with hard cash in the bank to fully pay for full scale multi-pronged litigation (incl. ligitation against individuals under the Slovenian equivalent of "negligence" (assuming such a legal ground exists there) and not just State organisations) and keep going as running concern during those legal actions, then the staff of Arso and other relevant people will have to yield pronto IMO.

It's not what I meant. A partial offer i.e. an offer to buy a % of the rights in Petisovci, not the totality.

That's what would make most sense to me if Colin still has the same views as he claimed last November, reiterated in January.

A lump sum of, say, £10m would be plenty to sue Arso and the ministry for every penny they have, and/or do more work on Petisovci insofar as permits are not required, and carry on with the tender etc. in Croatia as they said they started...

Of course it's all speculative.

Rosewall

(Big) IF an offer has been made, I think it's partial only. See my earlier comments as to why etc. today.

But waiting for the permits to be all 100% awarded officially would be too late IMO, Ascent's SP would shoot up too much.

Now is the probably the best time to try making a (even partial) offer for Ascent IMO.

But we'll find out whether it's all real or not soon...

Cheers mate. Even if it tuns out not to be real, there are the beginnings of a turnaround.

See my earlier comments on how it makes sense for both parties business-wise.
And Bodge's comments on the background of the Twitter user who posted it here:
https://twitter.com/TraderAim/status/1116278672162533378

Fair enough, I was not clear earlier, my bad. Ascent MUST issue an RNS IF IT HAS INDEED BEEN APPROACHED.

However, whomever posted that on Twitter would be looking at a massive fine for fraud, maybe jail time.

More pain than leaking something real.

Bradis - not just IYO , it is DEFINITELY required BY LAW.

;-)

Thanks for sharing the takeover code with us.

https://twitter.com/ibiza4chill/status/1116243382173618176

Apart from the fact that such a thing could have actually been leaked is ludicrous, there is nothing that obviously shows this draft RNS as a fake, and an offer of some sort (part of the rights in the resouce for 5-10 million GBP to pay for Ascent's suing Slovenian authorities and expand into Croatia?) would make perfect sense.

I think Cadogan has £40m cash (somebody correct me if I'm wrong), and probably does not need more than £10m to finish preping its latest discovery for production.

But it's all a big IF and could be total BS...

Not true. It's common for companies to confirm or deny takeover offers, especially when the SP has reacted substantially as a result.

IF it’s a real draft RNS, tomorrow’s date would be normal. Those are normally drafted in advance, as they must be read and vetted by the Nomad before they can be released.

IF real, an offer for part of the rights in the resource in exchange for immediate cash for litigation and expansion into Croatia would make A LOT of sense and fit Ascent’s latest plans.

Stockdale - confidentiality rules (so civil, not criminal law): almost certainly a breach. Insider trading (criminal law): I am not sure (I’m not a finance or corporate lawyer admittedly), but such a leak could be a clever way of trying to circumvent such rules.

Apart from the circumstances that look ludicrous, nothing shows that this draft RNS is fake either. And a Twitter account can be traced. Jury’s out on this one IMO.

There 3 more articles (some in English) along the same lines on Twitter on that day before Ascent finally decided to issue an RNS. By then, the SP was already in the 0.50s and rising IIRC...

The provisional IPPC permit award is now mentioned in World Oil.

But Word Oil's website is apparently knackered now!... = D

https://www.worldoil.com
(I cannot get the full link to the article, but Google.com shows it's there.)

Gerry65 - amen.