Ascent Resources Share Discussion Threads

[astute person] 19/3/2021 10:12

Well that February settlement dispute RNS stated:

'shall be in a position to respond formally to the Investors' proposed settlement terms by the 19 March 2021'.

It is the 19th and we are waiting.
Expecting to see an RNS today telling us what position they are in to respond formally.

Will the new BoD keep to its words?

[t0pgrader] 19/3/2021 09:28

MGW is a non-exec so he wont be writing anything. Keep up or go home

[dandadandan] 19/3/2021 08:16

It is going to be interesting to read the comments of Malcy on this one. Today or over the weekend?

It has been a long share price destructive wait..

DDDD.

[regandharry5] 18/3/2021 17:35

19th tomorrow, will there be an RNS.

[dandadandan] 18/3/2021 16:17

Look at the AST history in Slovenia.

Take the money, sell up and run, is my advice.

There are far better and safer investment opportunities elsewhere.
Cuba, Jamaica, W Africa, Egypt etc
Then you have Tunisia (lots of cheap assets waiting to be M & A snapped up). Check out how cheap UPL are for example. Compare with SENX and how they are doing.

DDDD.

[nhs buyer] 18/3/2021 15:10

These thoughts are based on a Settlement as follows:

€20-25million plus all permits required to re-stimulate the wells.
(3-4 years ago while waiting for permits to re-stimulate and build a small processing plant onsite the share price was trading in the range of 2.5-3p - pre-consolidation, now that would equate to 250-300p)
(the permit to build the processing plant was granted the others required were not)

Now to today if AST is granted substantial compensation and the stimulation permits required along with new 5yr term (till 2026).

Then this is quite possible:

1) AST will be able to stimulate the wells to obtain the maximum output possible.

2) AST will have the funds to build the small required processing plant on-site, once completed they will be able to sell gas into Slovenian grid.
Compared to 3 yrs ago AST would of had to raise/or borrow the approx €10m to build the plant. (Note: I will take 1yr-18months to build the plant).

3) The value of the asset in the ground has risen by at least 50% in the last 3/4 years.
In 2017 it was reported to be worth €200million so now it’s €300million plus.

4) While the processing plant is constructed, AST will be able to sell substantially more raw gas to INA at a higher price than ever before, possibly creating a profit above operating costs.

5) AST will have funds to progress the Cuba project and any others it’s considering without further dilution of the share price or borrowing from a bank/financial institution.

6) AST will be 100% debt free, and will repay Align any recent drawdowns on its loan facility.

So baring all that in mind I can easily see within 6-12 months from the settlement being agreed that the MCAP of AST could get to at least £100million, which would equate to a share price of 92p.

Thoughts on the above from other fellow LTH always appreciated!

[aberloon2] 18/3/2021 13:06

1m buy is about 1% of the company!

[silvergreyhead1] 18/3/2021 12:58

Chinese wait for the RNS this means nothing

[dandadandan] 18/3/2021 12:54

A newspaper leak then a 1m buy at 13p.

Now that is a give away. Lawyers/ politicians negotiate and tweak the news for a favourable conclusion. Many make their final offer just before they go into court.

It is time for the compensation agreement.

They need future investment so want to be seen to be acting fairly within the European parliament rules.

Get ready for some activity.


DDDD.

[t0pgrader] 18/3/2021 11:37

Of course the government rejects the claim! That's a given. The question is what is their counter proposal? There will be one. Anyone trading on this planted newspaper report is truly naive.

[chinese investor] 18/3/2021 10:54

This is a translation of the original Slovenian source.
I'm concluding negotiations are continuing !
Bit like BREXIT !

According to our information, the British have already got the answer.

The Slovenian party did not agree to the proposed settlement, according to informal information.

They're rare in state law.

"We explain that the Republic of Slovenia will inform the opposing party of its position in due time, within a mutually agreed deadline.
As negotiations on a possible amicable settlement of the dispute are still confidential, we cannot provide you with more information," they replied.

[chinese investor] 18/3/2021 10:31

Again the Slovenian Government inform the media before informing Ascent !

[chinese investor] 18/3/2021 10:29

The newspaper Delo reported unofficially on Thursday that Slovenia was not to accept a settlement with the British company Ascent Resources over the dispute over permits for the extraction of gas by means of hydraulic fracturing in the north-east of the country.

The two sides entered negotiations last October, but the British company said this would not prejudice its rights to pursue its investment treaty claim under the UK-Slovenia bilateral investment treaty and the Energy Charter Treaty.

Claiming that Slovenia is breaching its obligations to the detriment of the company's investments in Slovenia, Ascent Resources formally begun procedures to start an investor dispute at international arbitration.

According to Delo, the deadline for Slovenia to announce its decision runs out on Friday, and the State Attorney's Office told the newspaper that Slovenia would inform the other party about its viewpoint within the agreed time.

"Since the negotiations about a possible solution of the dispute with a mutual agreement are still confidential, we are not able to provide more information," it added.

The negotiations are being held as a damages lawsuit by Ascent Resources is looming, with the company, according to Delo, expected to demand EUR 120 million in compensation.

The company alleges that through Slovenia's violation of its obligations under the two treaties, it has sustained considerable harm, as it has invested more than EUR 50 million in the development of the Petišovci oil and gas field.

The Slovenian Environment Agency issued a decision in March that an environmental impact assessment is needed before a permit can be issued for extraction of gas in Petišovci by re-stimulating two currently producing wells as planned by Ascent Resources and its Slovenian partner Geoenergo.

The decision was upheld by the Administrative Court in June this year.

[chinese investor] 17/3/2021 12:12

My own view is the 19th deadline will be extended.
(hopefully with an upbeat announcement)

Slovenia will, one day, need our natural gas.

[chinese investor] 17/3/2021 11:00

Once coal has gone will Slovenia be happy to rely on Russia exclusively for their natural gas ?

[dandadandan] 17/3/2021 10:53

It must also be time for some comments from Malcy.
Is he now on the BoD?

Expectations are high.

DDDD.

[dandadandan] 17/3/2021 10:04

Been waiting a long time for this to happen.
Pulled them out of the bottom drawer.

It sounds like a deal is on the way.

Getting ready for news.

DDDD.

[chinese investor] 17/3/2021 08:23

Tiffany Sadler (Ambassador) :-

"Great to see Slovenia take the next step towards phasing out coal by publishing its coal phase out strategy yesterday and to discuss this and Slovenia’s other ambitious green infrastructure plans with Minister Jernej Vrtovec today.

Clean growth represents a huge economic opportunity."

[regandharry5] 16/3/2021 11:20

Getting closer till the 19th March.

[big yankee dealer] 15/3/2021 17:15

The Slovenian government are definitely trying to make it easier to get the gas:

1, New rules on low volume stimulation (accepted by vote)
2, NGOs are to be put in their place
3, New rules for processes with hazardous waste near water courses
4, Tax incentives for drivers of gas powered vehicles (Zero Duty)

[dusty101] 10/3/2021 09:32

No probs. Thanks for replying.

[chinese investor] 10/3/2021 08:59

dusty,
I didn't read it anywhere thou there has been mention of it on lse !
I just think it is a good idea me being a long suffering shareholder.

Chinese Investor (AST) 22 Feb '21 14:18
There is an argument that compensation should be distributed to long suffering shareholders.
That'll do me...but do I have evidence of my holdings ?

[dusty101] 10/3/2021 08:55

Chinese Investor. If you don’t mind me asking, where did you read/heard about the possibility of any compensation being distributed to long suffering shareholders. I only ask because I’ve a mate who wrote his investment here off along time ago. A fairly substantial one at that. Cheers.

[chinese investor] 10/3/2021 07:48

The average price of natural gas is £300 per thousand cubic metre.
So that's £6,000 a day !

[johnswan193] 08/3/2021 23:40

If you’re investing here you’re not investing in oil and gas, you’re investing in the outcome of litigation. Simply not worth the reward for the risk involved.