From one of the earlier RNS there was a timeframe of 6-9 months, amazing how that will fit with the new slap head environment minister who is after banning fracking. Next will be to define the procedure AST are using as fracking. Two options as I see it now-
1. Go with the appeal, the legal case and hopefully a field license extension.
2. Failing the field license extension, destroy all the wells and collapse them, make sure they aren’t any use to anyone else. Can’t see this happening as the Slovenian partners will want to keep the option open to re explore gas in Petisovci as soon as either the government changes or AST are out and the agenda is complete. All imho.
Exactly when people started slating me, I simply asked John B, what’s happening with all the talk he had of value without need for permits, why we aren’t talking field license extension, I think it’s very unwise to just throw it away, apply for the field license extension, governments come and go, the ban on fracking in Europe is challenged year on year, and Russia is currently providing gas cheap to Europe pretty much like a drug dealer does, cheap first then bite back and either hike the price or exploit the country. Slovenia are very short sighted and it may change as soon as this government which is hit by scandal after scandal crumbles, which will be soon I believe....
Nothing of the sort. Simple things that other companies seem to do well. Field license extension and plan? Period of time for admin court to listen to appeal, last time was 6-9 months and it was RNS, but of course that was with the colon begging bowl out.....
I got the same but also that he can’t disclose market sensitivity info. DYOR please
“Thank you for your email. Many apologies for the delay in my response. It has been a busy few weeks getting my feet under the table and immersing myself in the day to day operations of the Company. In terms of your comments and questions, please understand that the company is bound by AIM Rules and FCA Disclosure and Transparency Rules; and EU Market Abuse Regulations regarding disclosure and management of inside information. The Company cannot make selective disclosure to individuals. The intention is not to ignore shareholders but under stock exchange rules update all shareholders at the same time with any new material information. As a Company we look forward to updating the market and investors in due course.
In the meantime, there is not much to add to what we publicly stated in our last announcement – we are reducing our operating costs, working with litigation lawyers (which is taking time during the holiday season), and in the meantime evaluating new opportunities.
Thank you for your patience and continued interest in Ascent. Louis , myself and the rest of the team are committed to move Ascent forward in a positive direction.”
Hope something does happen soon watching this slip day after day is heartbreaking, in a good position, loss narrowing and the expected fines from the FCA now gone, and cash in the bank, yet SP is tanking towards a pound. Beggars belief....
Timescales for Slovenian Admin Court - looking back in history the time taken for appeals to be heard from one of the original RNS in the first round of appeals in 2015/2016 -
“The appeal to the Slovenian courts is the final step in the determination of the IPPC permit.
Based on professional advice, we previously informed shareholders that the court process should complete within six to nine months from December 2015. However, we have recently received notification from the court that the case is listed to be reviewed ahead of this schedule, in March 2016. “
Therefore July was the appeal, it’s going to be end of the year into next year before any news. This is the issue, the Slovenian environment minister at the same time has said he is pushing for a ban completely on any gas extraction, this was masked as a ban on fracking but it is clear they are trying to simply get AST out of the country. John Bananaman needs to start engaging with shareholders and tell us what his master plan is.
Waiting for this death spiral to end then top up. The money in the bank and the fact that the BOD own most of the shares is the positive, am still surprised by the amount of selling, checked short position and there isn’t any declared above 0.5%. Let’s see where this ends up, below a pound and will throw the whole house in.... imho.
Questions for John which I sent to the info3 email but no reply-
The appeal to the Adminstrative court - when do we expect a decision.
The Petisovci field license renewal - is this still actively being pursued?
Court proceedings when are we going to decide on funding option???
Amazing company. What’s becoming obvious is that the new guy is just as quiet as Colon was. They are all just milking this for as much money as they can. Let’s see what happens when he comes out of the woodwork asking for funding which will be soon enough.
Was always going to happen. The traders bought in expecting a Big Bang spike, not happened so they will sell and move on elsewhere. Fundamentals are improving and the thing I love about this share is majority owned by the BOD...
Well stop moaning and force some action. I tried a couple of times to get enough % support to force a vote of confidence in the colon but sadly everyone moans but won’t folloe through with action. For AST to survive the field license renewal has become more important, governments come and go, each SLOWenian government hasn’t lasted the term neither will this one.
Anyone know when the actual appeal will be heard in SLOWenia? Colin has gone completely radio silent and this is nearing the end either way. Thought he would have said timeline for when the decision will be made and timescales for next actions. But nothing from Colon.