Member Info for stockdale

Eastern Europe still very reliant on coal. Slovenia has gas. Why not supply them with Slovene gas for a more environmentally friendly energy and at least some locally produced gas?:

https://neftegaz.ru/en/news/coal/454907-8-eu-countries-to-phase-out-coal-by-2030/

https://www.independent.co.uk/news/world/europe/climate-change-2050-eu-eastern-europe-carbon-neutral-summit-countries-a8968141.html

https://www.thenational.ae/world/europe/eu-fails-to-agree-on-plan-for-carbon-neutral-economy-by-2050-1.877173

We all live in hope. But hope doesn't pay the bills. Where's the beef?

Colin,

I am still waiting for a reply to my attached email sent last Friday. The questions still need answering as the AGM was not clear on any of them.

I can understand your previous concerns about not revealing your plans to the objectors. This is hardly applicable now as they know exactly what is happening to Ascent Resources as they have instigated all of it through the Slovene government.

Shareholders are selling up because of lack of information and confidence. Shareholders are the lifeblood of Ascent Resources. If you don't keep us informed you will have no shareholders left.

Just a sample:

https://www.express.co.uk/news/world/856415/European-Court-of-Human-Rights-ECHR-rulings-Council-of-Europe-Thorbjorn-Jagland

Mysteron, the reason why the UK is in such a mess over Brexit is because we follow the rules. Thatcher pointed out rules that contradicted each other at the Maastricht negotiations. Politicians for certain countries just shuffled their feet and said they would ignore certain rules where there were contradictions. This has always been the case in Europe. Whereas the UK has always tried to follow the rules.

We see plenty of evidence in Slovenia of exactly that cherry picking of the rules and laws. If a rule suits them they use it. If it doesn't they ignore it. Just look at the court decision against AST back in April 2016.

Like all companies AST is owned by it's shareholders. If they are kept in the dark many will sell up and move on. That doesn't benefit the company. In fact that hurts the company. And right now AST is severely hurting. It's not a case of those who got to the AGM have an advantage over everyone else other than seeing the BoD for themselves. All shareholders have an equal stake. The price of each share is the same for everyone at any given moment. Therefore the company benefits from informing all and prospective shareholders equally.

jester, Many were unable to go to the AGM for multiple reasons. Are we in a company where if you can't go to the AGM you are cut out of all information? Is this some kind of secret society? Or a publicly owned company? Owned by it's shareholders?

I would agree New_2. Colin doesn't appreciate the necessity of communicating with shareholders. He's concerned that telling us means that's also telling the objectors. They already know. They have instigated this travesty. Not telling us means many lose confidence and sell, even at this low level. That means many think AST is going nowhere and is likely to de-list from the market.

Every time this happens AST rises again like a phoenix. It has no debt and a small income. It shouldn't go bust. Colin needs to inform us of what is happening. After all moving on from Slovenia is exactly what the objectors want. If the government wants the gas they're too scared of the objectors to say so.

My sense of humour has it's limits.

I have to believe Colin wants AST to succeed. AST has no debt. Any small income can allow the company to continue to exist and then move on to Croatia away from the country that has allowed it to progress gas production which it clearly doesn't want to have.

AST has a very strong legal case. That's all about whether the lawyers consider it worth pursuing.

I've lost track of the number of occasions this company has appeared to be on the verge of a complete demise only to rise again. The RNS of 6th August 2018 looked like the company was in a situation of imminent demise. A time when 'imminent' was unusually very applicable to this company for a change.

The RNS today gave a glimmer of hope and confirmed the Slovene news article was just misinformation. The phoenix is again putting it's head above the parapet. That hasn't prevented the SP from dropping 20% today and has given the likes of reso, etc. the chance to trade this share. The trick, though, is becoming less reliable as even the reso's are wondering if it's worth buying in, even at these low levels because 'imminent' may become a reality.

Colin needs to get his act together. John needs to get better (not at the AGM as he was unwell) and then come out with a plan to use a compressor to increase gas production. It needs John to do it as he is the oil and gas expert and Colin is just an accountant. We should not be looking to rely on getting permits as the chance of that is close to zero, certainly in the near term. Use a compressor as quickly as possible, start legal action and start to move to Croatia using the funds from the gas production and the £750K that's in the bank.

True except for doubt about buyers. Who would want the hassle? But the gas is there and two production wells in place. AST can keep production going to maintain an income. That keeps the company solvent and able to finance a move on.

Some are beginning to dribble away. AIM shares need good news to buoy up.

Now is the time to buy in. Before the $4 million hits the SML bank account. At that point this'll be past 2p.

Yes, JB being unwell was bad news not just for him but for all of us. We needed the oil and gas expert to give us some better news about what can be done. He has the expertise to make it sound plausible. Without him I'd imagine the AGM was pretty flat.

AIM shares largely run on sentiment. If the market believes the SP will increase with buyers coming in.

Despite the excellent shareholders meeting yesterday there's little reaction on the market so far. Strange.

We've only lost our money if the company were to de-list from the AIM market.

As long as production is maintained from PG10 and PG11a the company will still have an income that can keep the company solvent with no debt. We're just in a form of stasis until we can either get things sorted in Slovenia through legal action, politics or we move on to Croatia where we already sell gas to INA. So we already have a footprint there and they already know about AST.

Does that mean they have less money available for 88E? Or are they flush with money?

I have to retain an amount of levity as my investment here is in a dire state and I would otherwise be a manic depressive.

We have known gas in the ground, ten wells already in place and all in an EU country. The reality has become a nightmare where we don't just 'dream on' but can only hope that Colin can get something out of this nightmare.

Production needs to be maintained to use the small income to finance the company going forward until AST can extricate itself from Slovenia. The politicians are disingenuous and have led AST up the garden path to a very nasty place.

Sophie Honey has been helpful but British diplomats do the right thing. When up against the likes of the Slovene politicians we're bringing a cushion to a gang fight.

We'll it was the middle of the night.