Ascent Resources Share Discussion Threads

[chinese investor] 10/2/2021 10:47

What we need is an RNS stating well PG-11A is going to be examined, mended if needed and then tested to satisfy INA in Croatia !

[haff1] 10/2/2021 09:57

Lets hope it will bounce before the 10p mark!

[chinese investor] 10/2/2021 08:57

"Iconic Labs Plc (LSE:ICON) announces that it has appointed Stephen Birrell as an independent Non-Executive Director, subject to completion of the prerequisite regulatory checks.
Stephen is an experienced Non-Executive and is currently a Non-Executive Director of Ascent Resources PLC and of Ossian Energy Ltd.
Stephen has a BSc Honours in Applied Geology, a background in geoscience and brings broad experience of Corporate Governance, Project Management, Stakeholder Relations, Joint Venture Management and Business Development."

[dongle features] 09/2/2021 18:25

As gas and condensate are recovered the pressure surrounding the well drops until no more gas can flow. Carbon dioxide can be pumped back into the system to build up the pressure around the well so that the gas can flow again or the well can be shut and the pressure will slowly build back up naturally.

[dongle features] 09/2/2021 18:17

The only thing we were ever missing was the permits.

If permits are not required due to the NEW low volume stimulation law we would be in a better place than we ever have been and with the processing plant permit already in the bag, we could sell directly into Slovenia at a far higher price.

[chinese investor] 09/2/2021 17:44

Current European Gas Price is about £17 per MWh,
i.e. 17p for one cubic metre.

We are getting 7p by selling it locally !

[wrestlingmad] 09/2/2021 17:24

As a LTH in AST from pre-consolidation days of 2017/18 and suffering like a lot of other LTH with large paper losses (especially after consolidation) I thought I’d look back as where AST was back then and compare it to now to see what the potential is now for both LTH to recover losses and new investors to make some money.


2017/18

At the highs of this period the share price was around 3p (300p equivalent now).

We were waiting for permits to land to re stimulate the wells and build a processing plant onsite to enable the sale of gas directly into the Slovenia grid.

We had a contract to sell raw gas to INA in Croatia while the process was being followed.

At this time the ‘asset’ as in gas in the ground was valued at circa €200million.

We all know that the re-stimulation permits were not granted and the share price dropped dramatically other things (such as tools down wells) also caused the share price to drop.

What AST did get is the IPPC permit for the processing plant.

So if this is still valid they do have that.

Then the 100-1 consolidation happened, new board and the legal challenge started...


Feb 2021

So where are we now in comparison:

Current share price 14p

Value of asset has increased from €200m to circa €400m due to gas price increases over past 3 years.

New Contract to sell raw gas to INA (possibly at much higher prices than before) once current pressure testing completed.

€20-€40million in compensation pending from Slovenian government.

Re-stimulation permits for current wells could be awarded as part of settlement.

IPPC permit already in hand (if still valid) so on-site processing plant can be built.

Pressure in wells increases naturally over time and they have been closed for nearly 14months, so current pressures could be higher than the pre Dec 2019 closure, so more gas to sell.

Cuba - the new unknown project so AST is no longer a one trick pony anymore.

Recent news that Cuba is open for business to companies outside Cuba can only help this project develop in coming months/years.

Finally - Settlement from Slovenia (TBC of course) should be enough to cover the cost of building the processing plant and to further advance the Cuba project without any further financing/placings being required, therefore no further dilution to the share price

Factoring all the above and if news in next few weeks is as expected then surely a share price of 100-150p is achievable in the medium term (1-1.5p in pre-consolidation money!)

That’s still only 50% of where we were when waiting for permits in 2018 on the back of an asset worth €200m and no money to build the processing plant.

I hope these observations help LTH & new investors alike.

Other LTH’s opinions always appreciated.

I’m not trying to to ramp the share price but point out that the fundamentals are there for a sustainable rise over the medium term.

[chinese investor] 09/2/2021 15:20

Let's get this compressor bought, let's get PG-11A mended and let's start selling "meaningful" amounts of untreated gas to INA in Croatia !

[chinese investor] 09/2/2021 14:51

"The second well PG-10 is currently producing at circa 5,000 standard cubic metres per day"
"7p per cubic metre"

i.e. annual revenue £100,000 from PG-10 !

[chinese investor] 09/2/2021 12:02

This really is green shoots stuff !

PG-11A's production of 2,000 cubic metres per hour is similar to the production in the hey days !
(it is equivalent to 18 million cubic metres annually !)

Local price is 7p per cubic metre so...revenue is £140 an hour !

i.e. annual revenue £1.25 million from PG-11A with continuous flow !

[razoblade] 09/2/2021 11:58

Its good news as it seems they may have performed simulation or was there too much presssure build up? Only time will tell.
A lot to look forward to.

[chinese investor] 09/2/2021 11:55

The pipe infrastructure to Croatia can cater for 8.5 million cubic feet per day.

PG-11A's current production is 1.68 million cubic feet per day !

[chinese investor] 09/2/2021 10:08

Here We Go Again !

Long Term Suffering Holders should be compensated !

[regandharry5] 07/2/2021 19:04

Good luck with that.

[dusty101] 07/2/2021 14:41

Is it possible for longterm investors to claim against the Slovenia government for the way they have handled this situation of shafting Ascent shareholders. I’ve a friend who needs around £1-50 per share to breakeven here, done all his usual research but basically shafted by the dithering government. Must have a case like Ascent have. Consolidation was the final blow for many here.

[chinese investor] 05/2/2021 14:24

Could Slovenia be obliged to close their coal mines ?

[johncasey] 05/2/2021 14:03

good ol colin!

[nash81] 05/2/2021 13:05

AST was 100m mcap back then when we were in production

and now AST is back to production!!

our mcap should be at least 25p on production alone

add that settlement news, should be 50p easy.

profit takers giving chance for some to buy in cheap before actual news soon

[nash81] 05/2/2021 13:05

AST was 100m mcap back then when we were in production

and now AST is back to production!!

our mcap should be at least 25p on production alone

add that settlement news, should be 50p easy.

profit takers giving chance for some to buy in cheap before actual news soon

[chinese investor] 05/2/2021 10:43

AST had an annual revenue of £2 million a couple of years ago

[chinese investor] 05/2/2021 09:48

The current gas flow is very small but we could be on the way back !

[johncasey] 05/2/2021 09:38

surprised it didnt double today...still time and weekend press