Ascent Resources Share Discussion Threads

[jayrh] 27/10/2020 10:37

Its dropping

[fatnacker] 27/10/2020 10:07

Looking strong again, another tick up coming

[fatnacker] 27/10/2020 10:05

And there she go's

[fatnacker] 27/10/2020 09:59

It's got legs, about to step up again.

[chinese investor] 27/10/2020 09:04

GO GO HORSEY !

[chinese investor] 27/10/2020 08:07

All Good !
I'll update the shareholding list in my header shortly !

[tez123] 27/10/2020 08:06

Refinery in Lisbon through JS, u just need to join the dots!

[richie666] 27/10/2020 08:02

U are a liar "Hopeless" - Align had 5.82m shares only in total.

U be careful - eyes are on u...

[helpfull] 27/10/2020 07:45

Holdings RNS. Had to arrive. In the last few days Align Research has realised 6,320,000 shares from the exercise of warrants. All above board. The latest holding RNS show they have on the 27th October a total of 5,820,000 shares. Where have the other 500,000 gone? Mug punters check your pockets. That's 500,000 shares in 3 working days. I expect more of the same. That's what Ascent Resources is all about. Be careful.

[fatnacker] 27/10/2020 07:21

And there's your rns helpful.

[johncasey] 27/10/2020 07:20

ASCENT RESOURCES – POTENTIALLY GAME CHANGING NEWS FOR SHAREHOLDERS. BUY
October 22, 2020 | Posted by admin



Material news was released this morn by Ascent Resources in which the company provided an update on the dispute with the Government of the Republic of Slovenia concerning the company’s unfair treatment in that country and how its investment of more than €50 million in the Petisovci field has been damaged. These disputes are being pursued under the UK – Slovenia bilateral investment treaty (BIT) and the Energy Charter Treaty (ECT) remediation avenues.

At the back end of July 2020, Ascent submitted a Notice of Dispute which got the legal ball rolling. In this morning’s announcement, the company notes the recent press speculation in Slovenia and can confirm that it is now entering into direct negotiations with the Republic of Slovenia. Ascent goes on to point out that the view is to potentially settle the claim in an amicable manner before the end of 2020. Apparently, all these negotiations will be carried out on a strictly confidential, without prejudice and privileged basis.

At the same time, Ascent also pointed out this morning that it has completed an internal assessment of damages and that these current negotiations with the government of Slovenia won’t be prejudicing the company’s rights to pursue its investment treaty claim under the BIT and ECT. Whilst all this is going on, sensibly the board of Ascent will be continuing to secure litigation funding to proceed with international arbitration, if a settlement is not be reached.

When Ascent served Slovenia with a Notice of Dispute back in July 2020, we learnt that at the same time, the company had appointed an independent quantum expert to provide an estimate of the total damages. Given all the shenanigans that have gone on there over many years which have served to stall Ascent meeting its goals, this could have all the makings of a being a lofty figure. With that information in its possession, the board will be in discussions with specialist litigation financiers, some of whom have become particularly interested in the case since the company put in the Notice of Dispute. We estimate the damages claim to be in excess of £40m – a settlement of even half this equates to over 26p per share. The current stock price reflects less than a 10% chance of settlement let alone the company’s other assets.

Ascent is no longer a one project company however. In Cuba, the company has submitted an application to become an operator. This move concerns onshore producing block 9B and onshore blocks 9A, 12 and 15 which the company added to its asset portfolio following the arrival of the new management team earlier on this year. Negotiations on Production Sharing Contracts for these blocks were planned to kick off earlier on this month.

The company has done well to focus on Cuba which is one of the few remaining world-class yet largely unexploited hydrocarbon systems. In the country, Ascent is carving out a highly compelling opportunity as it includes six separate PSCs spread across four blocks which cover some 7,000km². The entry into Cuba has tremendous potential in our view and over the coming months Ascent is likely to gain operator status. Once that is in place, it looks as though the market might really begin to learn about the size of the prize in the vast onshore licence area where Ascent is negotiating access to a highly prospective area of Cuba. The deals provide an attractive mix of development, appraisal and exploration potential which gives Ascent a nice balance of opportunities right across the cycle.

Management as seem happy to diversify away from oil and gas in the search for appealing Special Sits plays which offer a unique balance of risk and reward. We have really been impressed by the quality of Ascent’s deal flow from Cuba. As reported previously, the board has signed a number of new non-binding letters of intent in the ht battery metals mining space in Cuba. At this stage it is worth pointing out that Cuba has the fifth largest nickel resources in the world.

Although the new board has only been in place for a matter of months, they have already begun to highlight the multiple mining opportunities that exist across the battery metals space, especially nickel, and there looks to be a good opportunity to mirror the oil deals already being negotiated where it is expected they will once again be following the organic route as with the company’s oil forays. The move into Cuban battery metals exploration/mining would provide attractive complementary new world exposure.

Some scoffed when we trotted out our target price for Ascent of 18.34p on initiating coverage on the stock with a Conviction Buy stance when the shares were trading at 3.25p in mid-September 2020 as per HERE. Our target price was based on possible Petišovci scenarios where we looked at the two alternative scenarios – the litigation path (making an educated estimate of the amount that might be awarded by the court, the time period until payment – all of which was risked) and the development path. With just 76m shares in issue, and the claim quantum likely to be over 10 times the current market cap, with the stock now at 4.625p we are more than happy to reconfirm our Conviction Buy stance.

[johncasey] 27/10/2020 07:19

ASCENT RESOURCES – POTENTIALLY GAME CHANGING NEWS FOR SHAREHOLDERS. BUY
October 22, 2020 | Posted by admin



Material news was released this morn by Ascent Resources in which the company provided an update on the dispute with the Government of the Republic of Slovenia concerning the company’s unfair treatment in that country and how its investment of more than €50 million in the Petisovci field has been damaged. These disputes are being pursued under the UK – Slovenia bilateral investment treaty (BIT) and the Energy Charter Treaty (ECT) remediation avenues.

At the back end of July 2020, Ascent submitted a Notice of Dispute which got the legal ball rolling. In this morning’s announcement, the company notes the recent press speculation in Slovenia and can confirm that it is now entering into direct negotiations with the Republic of Slovenia. Ascent goes on to point out that the view is to potentially settle the claim in an amicable manner before the end of 2020. Apparently, all these negotiations will be carried out on a strictly confidential, without prejudice and privileged basis.

At the same time, Ascent also pointed out this morning that it has completed an internal assessment of damages and that these current negotiations with the government of Slovenia won’t be prejudicing the company’s rights to pursue its investment treaty claim under the BIT and ECT. Whilst all this is going on, sensibly the board of Ascent will be continuing to secure litigation funding to proceed with international arbitration, if a settlement is not be reached.

When Ascent served Slovenia with a Notice of Dispute back in July 2020, we learnt that at the same time, the company had appointed an independent quantum expert to provide an estimate of the total damages. Given all the shenanigans that have gone on there over many years which have served to stall Ascent meeting its goals, this could have all the makings of a being a lofty figure. With that information in its possession, the board will be in discussions with specialist litigation financiers, some of whom have become particularly interested in the case since the company put in the Notice of Dispute. We estimate the damages claim to be in excess of £40m – a settlement of even half this equates to over 26p per share. The current stock price reflects less than a 10% chance of settlement let alone the company’s other assets.

Ascent is no longer a one project company however. In Cuba, the company has submitted an application to become an operator. This move concerns onshore producing block 9B and onshore blocks 9A, 12 and 15 which the company added to its asset portfolio following the arrival of the new management team earlier on this year. Negotiations on Production Sharing Contracts for these blocks were planned to kick off earlier on this month.

The company has done well to focus on Cuba which is one of the few remaining world-class yet largely unexploited hydrocarbon systems. In the country, Ascent is carving out a highly compelling opportunity as it includes six separate PSCs spread across four blocks which cover some 7,000km². The entry into Cuba has tremendous potential in our view and over the coming months Ascent is likely to gain operator status. Once that is in place, it looks as though the market might really begin to learn about the size of the prize in the vast onshore licence area where Ascent is negotiating access to a highly prospective area of Cuba. The deals provide an attractive mix of development, appraisal and exploration potential which gives Ascent a nice balance of opportunities right across the cycle.

Management as seem happy to diversify away from oil and gas in the search for appealing Special Sits plays which offer a unique balance of risk and reward. We have really been impressed by the quality of Ascent’s deal flow from Cuba. As reported previously, the board has signed a number of new non-binding letters of intent in the ht battery metals mining space in Cuba. At this stage it is worth pointing out that Cuba has the fifth largest nickel resources in the world.

Although the new board has only been in place for a matter of months, they have already begun to highlight the multiple mining opportunities that exist across the battery metals space, especially nickel, and there looks to be a good opportunity to mirror the oil deals already being negotiated where it is expected they will once again be following the organic route as with the company’s oil forays. The move into Cuban battery metals exploration/mining would provide attractive complementary new world exposure.

Some scoffed when we trotted out our target price for Ascent of 18.34p on initiating coverage on the stock with a Conviction Buy stance when the shares were trading at 3.25p in mid-September 2020 as per HERE. Our target price was based on possible Petišovci scenarios where we looked at the two alternative scenarios – the litigation path (making an educated estimate of the amount that might be awarded by the court, the time period until payment – all of which was risked) and the development path. With just 76m shares in issue, and the claim quantum likely to be over 10 times the current market cap, with the stock now at 4.625p we are more than happy to reconfirm our Conviction Buy stance.

[grimreaper2019] 26/10/2020 19:46

Seems to me this is finally going to reward long suffering shareholders, the new Slovenia/Hungary gas pipeline goes directly through AST's project.

Join the dots, amicable settlement etc, not forgetting insiders scrambling to get shares any way they can.

[blueblood] 26/10/2020 19:37

They can have the other £150k but need to give 5 days notice so all the shares can be dumped...

[helpfull] 26/10/2020 19:11

Don't worry your pretty little heads. A late RNS. More warrants converted to shares (4,000,000). The cost is 2.5p/share. Can be sold at a large 100%+ profit. Align Research has picked up 6,320,000 shares in the last days from the exercise of warrants. That is over 7.6% of Ascent Resources and a "holdings" RNS is due. It will be interesting to see if there is one or will the shares he sold? I can't imagine the company who gives the mug punter a price target of 22.5p a share in its research selling out. Can you? All those shares being traded; have you thought where they come from or should I say who do they come from? Be careful.

[chinese investor] 26/10/2020 13:16

Hutchinson played a blinder !
We were royally mugged !

[spqstrader] 26/10/2020 13:08

Don't trust this self-serving board to get anywhere near what AST should be owed for Slovenia govt willful acts of sabotage. 50 million as a minimum, plus damages and future earnings lost. But this Board will no doubt settle for a pea-sized amount, as long as all the warrant holders make their 400%. I'm afraid all LTHs have long been shafted. Hutchinson needs to put that Tartan kilt over his head and never be seen in the business world again...

[chinese investor] 26/10/2020 11:37

All Good !

[ride daice] 26/10/2020 09:09

Only another 1994 pence for me.

[johncasey] 26/10/2020 09:05

nearly broke even now

[helpfull] 26/10/2020 08:00

Exercise of warrants. 2,000,000 warrants for £50,000. That's 2.5p each. Who has been awarded millions of warrants to converted to shares at 2.5p when the share price reaches 4p? Well, according to the half year results that's Align Research. They received 16,000,000 warrants in the last cash raise. There are another 7,500,000 warrants from the same cash raise and more. That's a potential 23,000,000 shares at a 100%+ profit when the shares are sold. Mug punters are getting reeled in whilst others will be selling the shares. Be careful.

[johncasey] 26/10/2020 07:20

sachs boy on board
EXMceuticals with co-founder Johnathan Summers. Summers is a founding partner of a $500mn (USD) London based Investment fund. Before founding the Investment fund in 2015, Jonathan acted as a founder and senior executive in a major Hong Kong-based asset management firm. Prior to that, he was employed by Goldman Sachs for more than 15 years, in both London and Tokyo. His expertise in international business, acquaintance with multi-jurisdictional issues, and a management style based on best practices will contribute to further implement the Company’s global growth strategy.