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Just emailed again to Colin, have been doing everyday. Colin now the AGM is over and you don’t need anything from us shareholders to agree a dilution resolution you won’t answer any emails? Colin, Good evening and I hope you are well, you will be satisfied with all resolutions passed at the AGM. Have a couple of questions from you with regards to your comments at the AGM- 1. Operations to be "run down" in Slovenia with the company refocusing on other potential opportunities in the region including Croatia. - Field licenses are valid till 2022, so why are we winding down operations. You sold the dream that the compressor can extract gas without need for permits, there are also other opportunities to exploit the asset without permits? So why aren’t we doing that, after spending 50m we need to get something back. Will we be applying for the extension to the field license? What is the plan for the field license beyond 2022??? When does a decision get made? What protection was offered in the original licenses, must have been something otherwise we have sank 50m into an asset which we knew could have been taken off us. 2. Litigation funding will be from a successful claim if the lawyers feel there is a chance of success. However lawyers have not reached a decision on this at the time of the AGM. - timeframe for decision? If the lawyers aren’t confident would AST continue to fund the case? 3. seismic reworking not completed yet J.Buggenhagen not at meeting due to poor health. - appreciate Jon Bs illness hasn’t helped, but again a timeframe on this? 4. Compressor sourced and contract in place but if Slovenian operations are being "rundown" then it may not be commercially viable to utilise the compressor. - why the decision to run down the asset at Petisovci, again the field license expires at 2022, why not exploit the asset to at least get some benefit? The gas with the compressor quoted rates were more than enough to cover costs, so why would it not continue to just fund itself? 5. All BOD members committed to purchasing shares when legally able to do so. Apparently, the proposed change in direction of the company prevents them from buying at the moment. - been hearing this for years. Be honest and just say no I am not buying shares, end of. Gives a good impression of your faith in the company. 6. costs to be cut, including salaries to be replaced by share options to maintain motivation - again Colin proofs in the pudding. 7. 750,000 in bank to cover current costs. - what does this give us? The BOD salaries for a year I believe this wouldn’t cover. Are all the staff in Slovenia being sacked? Due to government. Is this being publicised? 8. CH indicated he would like to stay in place but board discussion required to agree this. - Best of luck whatever you decide, I know you went looking for new opportunities before. 9. if the permits do get granted, w
Oh dear. The bitter content for those that couldn’t attend the AGM, well in interest of the company everything that was discussed of material interest should have been in an RNS, are you saying the Colin shares information with you that wasn’t RNS. It’s worth as much as his imminent promises.
Some strong leadership is needed as always and sadly lacking, the RNS stating that production hasn’t stopped was no use no ornament, and that’s my issue with Colin. Give it some steam, lay out that even though the plan is to not sink anymore development money into Petisovci, still purchase compressor, it can be used in Croatia as well later, field license renewal, will we be doing this regardless of outcome from the permit appeal to admin court, the court case would be strengthened by our commitment to still have a future field license, shows we don’t want to walk away.
You need a permit to breathe in SLOWenia
Wow that’s going to send the SP into orbit. Typical colon, late why not issued yesterday when the questions were raised. And more importantly where’s the production values for last few months....
The field license expires 2022. So we should be emptying as much as we can out of the fields, but alas as we will see, the colon and BOD won’t prioritise that, the pigs must eat,,,..
Personally it all hinges on the administrative court ruling.
BOD wages have always been king, that’s been the issue here and the reason why we never got anywhere. Each time the placing was to help pay the greedy BOD wages rather than move the company forward. Even now the compressor, the legal case, everything will take a back burner to the BOD wages.
Legal action won’t happen imho unless the litigation funding is agreed, Colin and the boys will be wanting tomilk the funds for their lifestyle again and again rather than and legal action.
Amazing we will hit 0.10 soon. Killed completely. Good lad Colin, take the Slovenians to one side, there’s now no confidence at all in the BOD. Might as well pack up and put the dog down.
750k in bank to burn through first, cant see any placing yet without a firm plan. Would like to see a share consolidation to bring the number of shares in circulation to a manageable level and will stop these stupid swings. It’s eithet bust or keep trickling along.
Top of the fallers. AST living the dream.
9. if the permits do get granted, which the board acknowledged is now highly unlikely, then the board will reconsider but the general message was that AST is moving to establish a position out of Slovenia. - would we carry out the EIA, what is the cost and timescales of doing it? You need to lay out your plan for the appeal to the Admin Court, timescales for response and then action plan following it, ie if rejected and an EIA is mandatory, then what? “ Ascent added that it welcomes ARSO acknowledging in its decision that the proposed project cannot be regarded as "fracking" as defined by the European Commission in its recommendation in 2014.” The methods used with the compressor should be being used to bleed as much of the gas out within the field license timescales? Why are you winding operations down?? Regards,
Colin, Good evening and I hope you are well, you will be satisfied with all resolutions passed at the AGM. Have a couple of questions from you with regards to your comments at the AGM- 1. Operations to be "run down" in Slovenia with the company refocusing on other potential opportunities in the region including Croatia. - Field licenses are valid till 2022, so why are we winding down operations. You sold the dream that the compressor can extract gas without need for permits, there are also other opportunities to exploit the asset without permits? So why aren’t we doing that, after spending 50m we need to get something back. Will we be applying for the extension to the field license? What is the plan for the field license beyond 2022??? When does a decision get made? What protection was offered in the original licenses, must have been something otherwise we have sank 50m into an asset which we knew could have been taken off us. 2. Litigation funding will be from a successful claim if the lawyers feel there is a chance of success. However lawyers have not reached a decision on this at the time of the AGM. - timeframe for decision? If the lawyers aren’t confident would AST continue to fund the case? 3. seismic reworking not completed yet J.Buggenhagen not at meeting due to poor health. - appreciate Jon Bs illness hasn’t helped, but again a timeframe on this? 4. Compressor sourced and contract in place but if Slovenian operations are being "rundown" then it may not be commercially viable to utilise the compressor. - why the decision to run down the asset at Petisovci, again the field license expires at 2022, why not exploit the asset to at least get some benefit? The gas with the compressor quoted rates were more than enough to cover costs, so why would it not continue to just fund itself? 5. All BOD members committed to purchasing shares when legally able to do so. Apparently, the proposed change in direction of the company prevents them from buying at the moment. - been hearing this for years. Be honest and just say no I am not buying shares, end of. Gives a good impression of your faith in the company. 6. costs to be cut, including salaries to be replaced by share options to maintain motivation - again Colin proofs in the pudding. 7. 750,000 in bank to cover current costs. - what does this give us? The BOD salaries for a year I believe this wouldn’t cover. Are all the staff in Slovenia being sacked? Due to government. Is this being publicised? 8. CH indicated he would like to stay in place but board discussion required to agree this. - Best of luck whatever you decide, I know you went looking for new opportunities before. 9. if the permits do get granted, which the board acknowledged is now highly unlikely, then the board will reconsider but the general message was that AST is moving to establish a position out of Slovenia. - would we carry out the EIA, what is the
The winding down I can’t understand. Appeal the decision in Slovenian Admin Court, the ministers comments aren’t actually an issue as- “Ascent added that it welcomes ARSO acknowledging in its decision that the proposed project cannot be regarded as "fracking" as defined by the European Commission in its recommendation in 2014.” This is where it works in Ascents favour, the whole debacle is that ARSO have said that it’s not fracking. Want answers on the field license extension.
There will come a time, and I hope it’s soon, America will force Europe to not take Russia’s cheap gas, which is being used as a tool to influence Europe, then will see what happens. The European Union imports 69% of its natural gas, according to the European Commission. The latest available data shows 37% of the imported gas comes from Russia, about 33% from Norway, and 11% from Algeria. Choke it, then see what happens to all the rats. These environmentalists also need to ensure all their gas comes from countries that aren’t fracking as they are so bothered about the environment. :-)
500 million sells all at 0.165 Why does any share that shows prospects of moving up get manipulated to death, UKOG was done like this and then a massive rise, then a massive fall....
Nothing. The major point is the minister pushing for a fracking ban, even though it isn’t fracking, they are making their own rules up. If he wins in that regard the field becomes worthless, look at what happened in France. We need a bit of luck now nothing else will give us hope, the admin court overrules and says it’s not fracking that’s our only hope....
Them sells are still considerable, but profit is profit, still over half a million worth of sells.
Clive as crimrary bid will be doing the placing