Ascent Resources Share Discussion Threads

[epo001] 25/3/2021 11:45

More:

There is clearly no goodwill here so it is down to enforceability.

What if AST want arbitration and Slovenia doesn't?

If they win will there be a single payment or a series? If a series what do they have to do to enforce payment? Imagine a future in which there is a 3 month court case for each missed monthly payment.

Given that things have sunk so low, what are the future prospects for AST in Slovenia? If AST lose arbitration, presumably none. If AST win then relations will hardly be cordial, so what future for having bills paid?

So it seems the only good prospect for AST in Slovenia is to win arbitration, get paid and then sell their rights or walk away?

(Next time I'll do more homework before making a punt.)

[fredo1976] 25/3/2021 10:14

That would be a great opp at 2-3p. It is all about being patient.

[chinese investor] 25/3/2021 09:56

epo001,
All good questions.
I think there has to be an upfront £200,000 payment before proceedings start.

[epo001] 25/3/2021 09:49

Assuming this goes to arbitration.

How expensive could it be for AST?

How common is it for one party to concede early?

How enforceable is the outcome? If Slovenia concedes or is found to owe AST money, can they be compelled to pay up on a reasonable timeframe. If they refuse to pay, what next?

Bought this as a silly punt, wondering whether to double up or cut my losses.

[dusty101] 25/3/2021 08:40

I said I’ll have a punt here myself at under 5p but I looking at this at the mo it will probably fall further. Under 3p would be nice as this will drift for awhile yet. I hope Ascent nail the Slovenian barstewards. Aim corruption at is best here.

[dodge_city] 24/3/2021 19:54

Back to 3 here.

[terminator101] 24/3/2021 19:53

Hey JohnCasey, wondering if my "lesson" is over yet?

[dandadandan] 24/3/2021 09:36

It is time for the BoD to progress this dispute under the MB-Slovenia Bilateral Investment Agreement (“BIT”) and the Energy Charter Agreement (“ECT”).
Sort out the funding ang get on with the job.

Are they prepared for action after that wait since 24 July 2020?
This is not brain surgeon activity. Just follow the regulated rules.

It now looks like you only need to put an L in front of the company EPIC and you get an answer to where they will come in the arbitration seated position for a solution - L AST.

DDDD.

[nash81] 23/3/2021 21:59

DanDanDan

we dont need cash call for lawyer. our lawyer is no win no fees. stop deramping as we all know you wanted to buy cheaper.

wait for nickel news to be announced soon next couple of weeks (or earlier). will be back to 10p in no time imho

[chinese investor] 23/3/2021 15:18

“Slovenia has refused to resolve the dispute peacefully at this stage by concluding an agreement with the British company Ascent Resources,” the State Attorney’s Office told the Slovenian news agency (STA).

Umanotera at Focus, the Society for Sustainable Development, has long called on the Government, informing the company that a solution is out of the question and immediately concluding secret negotiations, to protect Slovenian legislative autonomy and not come under pressure from Ascent Resources.

The British company Ascent Resources, which intends to extract gas in Petišovsko polje, recently launched proceedings to initiate arbitration proceedings against Slovenia.

The reason behind this procedure is that obtaining an environmental permit has been delayed since 2017, with investors indicating that they have invested 50m euros in more than ten years.

Although at first it seemed that the dispute would be resolved peacefully by paying for the settlement, the State Prosecutor’s Office told STA that Slovenia “rejected the amicable settlement of the dispute by concluding a settlement”.

Ascent sources reported that on July 24, 2020, the company officially notified the Government of Slovenia of the existence of disputes under the MB-Slovenia Bilateral Investment Agreement (“BIT”) and the Energy Charter Agreement (“ECT”).

Following the issuance of the Dispute Notice, the Company began a mandatory mandatory three-month “cooling off” period, designed to allow the parties to attempt to resolve their dispute before arbitration.

Ninety days after the submission of the Dispute Notice on 22 October 2020, the Company announced that it would enter into direct negotiations with the Government of Slovenia with the aim of resolving the claims in an amicable manner.

Furthermore, on February 22, 2021, the company confirmed that it would not initiate arbitration proceedings before March 19, 2021, at the request of the state.

The company said that after the letter from the state, an amicable settlement could not be reached at the moment and expects the arbitration procedure to start soon.

As part of the direct hearings before the arbitration settlement, the Company submitted to the state a calculation of claims in the total amount significantly exceeding 100 million euros.

[dandadandan] 23/3/2021 09:25

Expecting a cash call next needed for that arbitration work.
More dilution. How about warrants.

But before are we likely to find some Institutional Investors raise the share price a little getting ready for the off load?

DDDD.

[astute person] 22/3/2021 13:47

Arbitration proceedings have strict timetables and if you fail to adhere to them you risk losing by default.

And if there is a strong case and genuinely 100m euros in play then I'm sure that backers will be found to sustain it.

There does need to be the will to initiate proceedings though.

Anyway, I doubt anyone on here has any genuine insight into what's going on or what if anything is happening in the background.

But the legalities of arbitration are what they are whatever either party wishes.

[chinese investor] 22/3/2021 09:59

Let the International Arbitration start...with defined dates !

[johnswan193] 22/3/2021 09:43

This share is a litigation play, not an O&G play. A gamble and little else. I was very surprised to see the share price holding up this AM as well as it did.

[chinese investor] 22/3/2021 09:10

Slovenia are closing their only coal mine !
Where are they going to get their energy from ?
They won't want wind turbines spoiling their lovely country !

[dandadandan] 22/3/2021 09:06

This afternoon session will be interesting.
6p ish and a very low Mcap for just 109m shares on that register.

Next activity could be an announcement that an interested party is in discussions to buy them up?

Nothing would surprise me with this black hole in Slovenia
£7m Mcap and paid out £50m on the P field development.
They expect 100m euro compensation.
It must be time for a reality check.

DDDD.

[chinese investor] 22/3/2021 09:01

6 million out of 109 million shares traded in the first hour !

[chinese investor] 22/3/2021 08:57

GO GO HORSEY !

Lovely Profit !

[chinese investor] 22/3/2021 08:45

Here We Go !

[mrzippo] 22/3/2021 08:36

Errr....no they dont

[wrestlingmad] 22/3/2021 08:21

Well done CI.

[chinese investor] 22/3/2021 08:16

6.275p !
Got 'Em !