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Did anyone question about the stopped production article? B
Question is will there be a market impact this morning even though nothing has been said officially this nightmare just gets worse.
Hopefully it is not true as it’s a big blow and imho the wrong thing to do, need to continue working to achieve some success and packing up shop just means more strain on the shareholders
It quoted the regional director.
Obvious now why the SLOWenians have been kicking the can down the road, plan to bring in law to effectively stop all Petisovci gas field development next year, in the meantime tell the ASCENT dog to do an EIA, whilst laughing as by the time the EIA is done the law will ban any development. And Slovenia is a investment friendly place? Really?!?
So what now. Might as well wrap up AST, a gas company that has no asset and no prospects if Petisovci is dead, oh we are debt free, but hang on if we set up a new company are we not in the same situation debt free. Joke of a company and BOD. Why he had stopped production I don’t understand, where are we going to keep the lights running from??
From the National Assembly session today- From the Slovenian National Assembly today- PRESIDENT MAG. DEJAN ZIDAN: With this, we go to the question number 8, namely, the Minister of the Environment and Spatial Planning, Mr. Simon Zajc, are waiting for you in essence four parliamentary questions in the package. Firstly, the question of Mrs Violeta Tomić is related to the fracking in Petišovci. Here you go. SIMON ZAJC: Yes, the question was about how I mean as a minister, forever stop and ban it. At this point, I can say that this can be prohibited in the Environmental Protection Act. This law will be brought to the National Assembly next year, that is, ZVO-2. Then there will be a space, a possibility, a discussion and a decision about it. So, MEPs will be able to decide, on the basis of facts, whether you will make a decision to ban fracking or not. The law will be ready by next year. The minister is out for fracking, however under EU legislation and by definition the actions at Petisovci are not classed as fracking. Seems this shows what we are facing and why Colin has probably decided enough is enough and concentrate efforts on court case. Someone needs to ask Colin about this tomorrow at the AGM, I am unfortunately abroad with work so can’t attend, end of day making some money to counteract the massive losses on AST. Seems though Minister is continuing his mate lemons work and trying to finish AST off.....
From the Slovenian National Assembly today- PRESIDENT MAG. DEJAN ZIDAN: With this, we go to the question number 8, namely, the Minister of the Environment and Spatial Planning, Mr. Simon Zajc, are waiting for you in essence four parliamentary questions in the package. Firstly, the question of Mrs Violeta Tomić is related to the fracking in Petišovci. Here you go. SIMON ZAJC: Yes, the question was about how I mean as a minister, forever stop and ban it. At this point, I can say that this can be prohibited in the Environmental Protection Act. This law will be brought to the National Assembly next year, that is, ZVO-2. Then there will be a space, a possibility, a discussion and a decision about it. So, MEPs will be able to decide, on the basis of facts, whether you will make a decision to ban fracking or not. The law will be ready by next year. The minister is out for fracking, however under EU legislation and by definition the actions at Petisovci are not classed as fracking. Seems this shows what we are facing and why Colin has probably decided enough is enough and concentrate efforts on court case.
https://twitter.com/1969Mala/status/1140648193438486530?s=20 Seems that the report is that AST have stopped gas production from all wells? WTF. Makes sense sort of as we were producing next to Sweet FA. Interesting to find out if the compressor has been cancelled or what. AGM will shed light as wasn’t expecting production to be stopped.
Nothing is surprising with AST
Next Step as I see it is by 15th July 2019 - appeal to the Administrative Court in Slovenia - need to understand how long it takes them to listen to the appeal. Would like to see the appeal submitted asap if it is ready rather than waiting for the date. Needs raising at the AGM.
Exactly. Good luck all...
Didn't say stepping away. Even though I don’t like Colin, he has said the right thing. 1. Shift focus to legal challenge. 2. Reduce operating costs to help that Overall though he said the aim is still to maximise value from the Slovenian asset.
They won’t sue as they are government owned so can’t sue themselves. But yeah any compensation would they get a cut???
Stockdale you are correct. And that why keen to see exact arrangements for legal challenge. If the legal firm are taking it on that basis, they see it worth the risk and remember they aren’t bothered how long it takes, I saw previously a legal compensation challenge lasted 10 years, in the end the legal firm bill all their work either way so they aren’t bothered, my point is though if it’s on a contingent basis they see the case has a good chance. On the other hand I believe they will go more prudent and want some risk with the company as well, hence why Colin us saying some funding for litigation needed, sometimes they want to at least cover legal fees and wait for the profit element when the case is won. All speculation for now and will await the Slovenia administrative court decision, remember previously with the IPPC at one stage the admin court did approve.
Want to see some constructive interviews from Colin and co in the Slovenian press, and state the facts as they are without emotion, fact is we aren’t asking for specialist treatment as was given to MAGNA when allowing them to build a paint factory at the riverbed, we are only asking to be treated fairly.
Hillbilly - Churchill mining, did a quick look? Not comparing apples to apples are ya, was in Indonesia, and to do with coal mining, and accusations that the company had forged documented and actually committed gross misconduct? How does that relate to this situation with AST and EU Slovenia? Please explain???
It is what it is, hence why the focus should be continue surviving whilst fighting the fight, governments come and go, the last 4 Slovenian governments haven’t lasted the term, this one has the most fragile coalition and is hit by scandal after scandal. The field license extension will be interesting, refusing it will add to the weight of AST case that the foreign investor has only been used and abused then thrown to the kerb. What do you think that will do to the image of Slovenia and foreign investment????
Anyone managed to buy? I’ve tried 1k to 10k top up won’t have it with Halifax. Was hoping to get at 0.18 to bring average down... oh well.
MONARCH - if Colin cancels the compressor he will be crucified, putting all eggs in one basket is why we are so skrewed now, keep on with trying to increase production as well as legal action, time to be strong Colin and the way you look at the shareholders with distaste when we question you, use that same fire to get us out of this mess.