Member Info for stockdale

The cash raise shows the FO was all benefiting PMO. Surely with the cash position of 88E the main FO red line for 88E would have been an up front cash injection?

It's certainly like that now. After the many podcasts from JP, PW and AB we've now entered a long phase of silence. Some say without any positive news they shouldn't say anything. Others say keeping contact with share holders is a good thing if you are good communicators, as they are when they communicate.

All we need is for the main client to pay the $4 million they owe and a positive update on Leigh Creek and the SP will rise to at least where it was (1.75p) and even to 2p quite easily.

Without that a podcast for JP would help just to say they're still there and things are still progressing. The result of not doing so is an SP which has sunk back below 1p and any good news will only send it back to where it was just a couple of months ago. 5.5p is now a distant dream.

At the time the FO was RNSed (22nd August) the SP was up around 0.9p. It has fallen over 20% since then. That is the result of he FO on the SP. The market has not approved of this deal.

Down a tick WAaussie? It was 0.9p 3 weeks ago. That's over 20% down.

Very surprised that, considering the funding position of the company, 88E did not insist on an up front amount of funds at the point of the FO agreement. It would seem that PMO had the upper hand in the negotiation. The market certainly looks unfavourably on the FO from an 88E point of view as the SP is down.

The legal case was talked about in the LSE interview and JB stated it would be done in conjunction with working with the government. So a carrot and stick approach.

Again Shania we have seen many years of posters opinions here and the BoD have taken little or no notice. They are the ones on the ground and will know the score. JB is an oil and gas expert and knows the technicalities. That came out in both interviews with his clear knowledge of the shallower prospects in the stratified layers. I'm not so sure of his ability at dealing with the Slovene politics. It won't be the same as Poland and Hungary.

However, again, it's arrogant to say 'we don't want a legal case'. It may well be the stick that persuades the politics. It depends on how JB approaches the politicians.

You seem to have the same attitude of a couple of others who were here before. There have been many posters here. Most have a civil approach and some have knowledge of oil and gas. Some just shout their opinion.

This share is bad enough without fighting others on here. If you read my post of 20:52 you'll see I agree with posts where they make sense.

I would agree with you there Shania. He does know what he's talking about when it comes to oil and gas. Let's hope he can get his head around the peculiar politics in Slovenia. He says he can as he was asked in the interview. His experience in Poland should help.

Shania you're new here. I'm not. If you're not new to AST you haven't posted on this forum. I'm fully aware that PG10 is producing and PG11a as well, although at a reduced flow because of a stuck tool. The gas production is reducing monthly as the wells need stimulation. The income is not sufficient except to 'keep the lights on'. Please don't arrive on a forum with just 7 posts with such an arrogant attitude.

I am sure JB would appreciate your input here Shania. I just don't think he may follow it. I'm sure the rest of us will appreciate any worthwhile contribution though.

If funds are needed we would also appreciate any suggestions other than a placing. Maybe he can access bank loans? Ch wasn't able to to, and that was his main expertise as an accountant.

Sorry I'm getting a little light headed what with Brexit shenanigans, etc. Must put the bottle down ...

JB is an oil and gas expert. CH was not. We could question CH in his decision making ref oil and gas. I think we can rely more on JB to make the right decision with his oil and gas experience. We've had those who purport to be oil and gas experts on here questioning decisions. Even to them I would say you need to be there and actually involved with the local situation to really comment.

Not exactly unexpected Shania. AST have no debt but also have no funds. If JB can instill some confidence in the market the SP may rise and any placing could be made at a higher price than currently. It's possible after that interview, and further information to the market, as investors could be impressed with the plan going forward. Give it a few weeks and let's see how he continues to inform the market.

https://www.lse.co.uk/media/ascent-resources-new-management-team-new-strategy-new-3d-seismic-ast.html

I was reasonably impressed with the AST interview of JB. First time we've seen him interviewed. He covered all of the subjects we're concerned with. Looks like-boot of the company for 2020.

Clearly Iv'e been with AST for too long.

A couple of weeks? I do like optimists.

The sell was just 40 minutes later. Obviously the buyer didn't have the funds to hold for longer than a bet on the SP rising immediately just on that news. Some say AIM is just a casino. That's really using it like a casino.

Brief look at their forum indicates a very dodgy company. Not for the unresearched.

Can we please stop this discussion of other shares here? There are other forums for that. Thanks.

The long termers here have believed the known gas reserves at Petisovci and the ten wells already in place, and just needing reopening, would ensure a good future for AST. The obstinate politics has ensured that hasn't happened, yet. The current delay has placed the SP in a stasis for a company with no debt but little income. It'll all happen at some point but 'when' is the unknown. The politics and environmental lobby is unlikely to go away. But JB can find ways of increasing gas production without permits if Petisovci is worthwhile persisting with. Otherwise it's off to Croatia with whatever means JB can conjure up.

Coming to the end of yet another week without news or apparent progress. Any progress would have been podcasted or RNSed by JP.

There is still some hope for this week as the Cobre situation is at least 5 hours behind us, that being east coast U.S. time, and even 7 hours behind, that being New Mexico time.

It's getting pretty depressing and not helped by those who advise 'patience'. All very well but there's a danger that some could become patients.