Member Info for Pinguser5

No doubt that the loonies have taken over the asylum in Slovenia! However, my problem is that the BOD do not appear to have made any progress anywhere since they came in - I'm sure if their roles were performance related then they either wouldn't have taken on the positions or would be making considerably more effort!!

Scenicview - I congratulate you for at least approaching the authorities - it really needs news journals to get involved to get anything moving.

My sincere congratulations to the BOD for another week of fantastic progress (anywhere!!). I'll leave it to other more motivated contributors to calculate what we've shelled out in salary this week.

Nice money if you can earn it - many wouldn't have the moral fibre to accept it!!

AST only issue RNS's with this news nowadays. Would be great if they released one actually detailing some progress anywhere!!

The share price performance speaks volumes!!

Rather than any meet up with investors, after all James Parsons previously stated "it is very difficult for the BOD to have direct influence over the share price, " - why not just get on with it!!?? . If you finally actually deliver some progress on your promises then investors will act accordingly. Past performance is hardly a reason for motivation. Future placing will be very difficult to support as the money continually goes towards salaries & nothing more! Time for the "experts" to finally deliver & justify their extortionate salaries!!!

Zoggz,

Many thanks for the summary. Let us hope that some progress is reported in the near future.

As Zoggz has said, it may be prudent for others to send their queries directly as Zoggz has done more than enough!

Zoggz,

Thank you for the update. The jury is still very much out for me. I don't think that the Directors realise how much under water some long term holders are!! We were never given the opportunity to save our investment & for many they believe we have been misled.

My reluctance to communicate stems from several emails I exchanged with Colin Hutchinson while he was in charge. Once he left the business I communicated with him through his LinkedIn profile. He couldn't remember our previous correspondence...nevertheless we had a frank exchange of views where he was left with no doubt of my feelings We are not all gamblers & many make pension decisions based on what the Directors tell us.

Believe me when I say Andrew & James will be very well versed in PR but I continue to doubt their true intentions when I look at their current activity.

Thank you though for sharing this.

Yes it would've been nice if the so called 'expert's on the BOD had investigated trying to actually build the business instead of taking the easy way out to suit themselves!!

Zoggz

I suggest you email info3@ascentresources.co.uk & address to James Parsons or Andrew Dennan directly. They are obliged to answer you if you are a genuine investor.

I have also contacted the Midas financial column at the Mail on Sunday again.

Without generalizing I have worked in a Sales capacity at various organisations & in a couple of cases the guys at the top have been Accountants with MBA qualifications. I found their blinkered attitude to be very frustrating. They only saw the business in terms of bottom line & often several opportunities were missed.

James Parsons & Andrew Dennan do not possess the skills to develop AST or their other businesses. Unfortunately AIM generally encourages this. They are not capable of adding any measurable value - instead the intention is to keep the story going for as long as possible & hopefully feeding off investment to keep the figures churning.

As a result after 2 years at the helm, they have produced no tangible results. It has already been remarked on how the Management structure is top heavy & because they generally regulate this, it is allowed to happen.

As investors, we are kept in the dark as to what is really happening. The most overriding factor which everybody, even the FCA turn a blind eye to is the fact that the business trades with virtually no income while incurring massive running costs.

As I'm now fed up of saying, contributors to this Board need to approach journalists & the company itself to publicise what is really going on not just here, but elsewhere!!

Wonder if Align Research are standing by their target share price in region of 18p???

As a few of us have said...it is best to express your feelings to AST or Vigo Consulting directly. Also worth approaching any financial journalists. I myself have done all of this but it needs others to do the same. This company's activity over the last 5 years should be publicised for what it is.

When is shareholder returns going to be given some priority??!!

Retrosec,

Unfortunately I have to agree with you. Putting all of the waffle aside are the usual words of "we expect, - shortly - placing - new shares- Riverfort - continue" when really nothing has progressed.

Still no end to the Slovenia legal case.

I recognise Align Research to be no more than a Marketing outfit - goodness knows what they are getting out of this? They talk about a target share price near 20p!!!! How??

I just want my investment back so I can move on.

Zoggz,

My understanding also - this concerns me greatly but hardly surprising given the history of the company. As investors, the BOD are accountable to us & we are not being kept informed at all. Once again, this is very misleading. Get this Board out & employ an Administrator at one third of a Director's salary!! That is all that is required until the lawyers get back to AST.

Kenj,

You will save yourself a lot of grief without trying to reason with Oldblue...I've found the filter button has saved me a lot of time and my sanity!!!

As investors we are still being kept in the dark on all fronts.

Why can't the AST board update is on what they have been doing for the last 12 months???

Blazini,

I fully agree, all this was outlined in March 2020 and what has changed since??

I filtered Oldblue ages ago but as a recent investor he fails to realise that of AST's existing wells, the pressure was decreasing and required re-stimulation which can't be done. It is probably being witheld from investors but I would think the output from these wells would now be minimal to say the least. The Board reported the increase in gas prices but it is not clear how much is being produced currently. In my opinion, that RNS was put out in the hope of boosting the share price.

So worst case scenario is wells have stopped production, AST have no income and are paying several Board members at huge expense! Goodness knows if anything is happening on the case with Slovenia or the Cuba project - if so, why has nothing been reported.

As per previous request - investors should politely contact either AST directly or Vigo and enquire what is happening to recoup their investment???

I wonder what Align Research have been told and what they must be thinking now???
I recognise that they are very much a marketing company but it is clearly evident that little progress has been made and very little attention has been given to hitting any target dates.

As been said before, nothing will change unless investors voice their concerns to either AST direct or Vigo Consulting.

Meanwhile, money continues to sift away and as investors we have no idea if AST has any income at all!!

No problem,

The main points that I have asked for clarification:

In what capacity are Vigo employed? Do their recognise their role and how it affects investor sentiment and share price performance.
How do Vigo see their role as a PA company and would they be prepared to comment on the general lack of progress and the performance of the share price during their tenure?
Are the AST Director's aware of how investor sentiment is currently and it's influence on the share price.
What is the current situation with appointing legal representation for the Slovenian court case.
Who is overseeing the work being done in Cuba?
What is the role of each specific Director?
Why are members of the BOD working part time and will this situation change?
Are they aware of how disappointed share holders have been with where money has been spent and would they be able to comment on the actions of previous Board Members also (J. Buggenhaagen?.
Are they aware of how disappointed shareholders have been with direct share purchases from Directors and how this is viewed by the market?
What is the aim of an investor presentation bearing in mind the share performance over the last 2-3 years?
Are they prepared to comment on where they feel particular progress has been made by the company over the last 2 years?
Who is responsible for appointing the Board of Directors?

Hopefully that will give fellow investors a snapshot of the questions I would like clarification on. I appreciate that this will probably be passed onto AST directly and they will hide behind confidentiality/disclosure.
As I have stated all along I no longer have faith in this business and feel in my opinion I have been misled. If I can get some of my investment back that would be great. However, I feel that as an investor, I am entitled to know what is going on and this is not happening.

Still no acknowledgement to my email to Vigo Consulting which leads me to suspect that correspondence is being copied to AST. Messages to info3@ascentresources.co.uk have received direct replies from Dennan/Parsons offering a telephone discussion. There seems little point in having dialogue due to confidentiality & to be honest I have no faith in either party.

As investors though we have been failed and this just looks set to continue until funds are required.

All I would say is...

How about employing someone on half the salary who is interested in doing a decent job??? Pay them a bonus also based on results.
Why are AST in my opinion just paying leeches to bleed the company dry? They have no special expertise other than Accountancy qualifications which is hardly rocket science!!

It speaks volumes about the industry as a whole where people make careers doing this & the authorities & journalists do nothing about it??

Someone tell me if I have it wrong - in some countries this would be viewed differently from a legal perspective...