Tiger Royalties And Inve... Share Discussion Threads

[skyship] 22/8/2007 09:27

Couldn't resist a 200k top-up @ 3.63 & 3.646p. Was immediately concerned when AST promptly plumbed the depths to 18p; but just as quickly recovered back to 20p......now a tad BLUE today too. TIR NAV now at 6.73p.

[alanji] 17/8/2007 11:29

Lets hope so, though I doubt it. Thank goodness for the cash, which I make 2.6p per share - almost tempted to buy.

[skyship] 17/8/2007 09:08

WELL, I SUPPOSE I HAVE TO ADMIT THAT BR WAS RIGHT ABOUT A SEVERE SHAKEOUT IN MINING STOCKS......though it came rather sooner than he thought.

Hopefully our much reduced NAV of 6.63p isn't actually that bad as he may well have sold more of the portfolio ahead of the rout.

[skyship] 15/8/2007 12:05

Sure is. What I can't understand is why, having sold a few AST at 18p & 22p on the way up, why weren't they selling a few more at the 30p level where they traded for over two weeks in good volume? Perhaps they have parted with a few, but obviously not enough to trigger another RNS.

Furthermore, AST was a very obvious sell once the 28p support broke; and the FIB retracement levels suggested a fall to 22p (50%) or even 20p (61.8%). We are now 22.25p, which has brought our NAV back to an undiluted 7.2p.

Still, being 23% liquid I'm very tempted to buy some of those TIR currently on offer @ 3.81p - perhaps scoop up a few ahead of a buyback......

[pugugly] 15/8/2007 10:07

AST falling steeply as are many samll oilers & mineral explorers - I suspect the discount to assets will widen so far as TIR is concerned and we could see a drift back to the 3p level especially if bad news from Ascent. Their sales of AST now look wise .;

Aint hindsight wonderful !!!!

[skyship] 09/8/2007 14:30

TKoN - IMO the chart is fairly interesting, certainly visual evidence of the massive support at lower levels - not surprising in view of the buybacks of course!

Charts on microcaps are really of little use other than to discern trends, support and resistance. As such they are useful for investors, but of no use to traders who shouldn't be interested in microcaps in any event.

My reading of the chart is that the break up through the top of the long sideways coil was a significant move. We are now experiencing the pullback to the breakline - a very common formation and one that in most cases provides an entry or top-up opportunity.

[tkon] 09/8/2007 12:25

Interesting chart.*
















or is it?

[tullynessle] 08/8/2007 07:39

Article in Oilbarrel today...........

08.08.2007
At Ascent Resources All Eyes Are On Not One But Three Potentially Exciting Prospects In Italy
Ascent Resources has a portfolio of over 20 gas and oil projects across six countries in Europe. The projects are onshore in Switzerland, Hungary, Spain, Slovenia and offshore in the Netherlands. The company operates Spain's only onshore oilfield where production is currently 110 barrels of oil per day. With stable European gas markets, Ascent's portfolio favours gas over oil. As just stated, with the exception of the Netherlands all its projects are located onshore where operating and development costs are substantially lower than they are offshore.

While there are ongoing projects in all these countries, Italy is very much the focus of attention at the moment and it might be felt that managing director Jeremy Eng has certainly not allowed the grass to grow under his feet in this regard. Having said the portfolio favours gas we are currently awaiting the results of the Anagni-1 well appraisal in the Frosine permit in the Latina Basin some 80km south of Rome. This is oil and the discovery well, which was reported a month ago, gave hopes that it might portend a substantial find. The shares have risen substantially on the news but we must have the appraisal. Only Doctor Drill will tell us what is down there - this could become known within the next two weeks.

Meanwhile, it has been announced that the Arrone-1 well has been spudded. This is acreage Ascent picked up in December 2005 through a farm-in deal with JKX Oil & Gas. Ascent agreed to pay 50 per cent of a first exploration well and a one per cent royalty on any subsequent production in return for a 40 per cent interest in the permit.

The 358 sq km Fiume Arrone Permit lies along the coast to the west of Rome and is home to two 1955 wells, Roma-1 and Roma-2, of which one had gas shows. Arrone-1 well be drilled to a depth of 950 metres and will target a gas prospect identified from seismic.

The company has now announced action on a third venture in Italy. Ascent has entered into an agreement with Deltana Energy of Australia to farm out a 50 per cent interest in the 1,113 sq km Cento and Bastiglia exploration permits in the Po Valley of Italy.

The Po Valley, which extends across the northern part of Italy from Turin in the west to Venice and Ravenna in the east, is one of the most productive areas for gas and oil onshore in Europe. Since the first production in the 1950s over 130 fields have been put into production. Ascent's permits are among the largest in the region.

Under the terms of the agreement, Deltana will pay the cost of the first exploration well and, on success, will pay the cost of a second exploration well. The first target is a Pliocene prospect in the western part of the permit at a depth of about 2,400 metres.

First though, investors will be keen to hear news of the Anagni-1 production test. Ascent has a 80 per cent interest in the permit, with Pentex Italia holding the balance. The well was designed as a stratigraphic well to test the subsurface make-up of the rocks in an area with poor seismic coverage. Specifically the company was looking for the carbonate platform of the Northern Appenine Thrust. This was found at a depth of 865 metres.

But, as the well went deeper, Ascent observed oil shows and found reservoir quality encouraging the company to invest more dollars and turn this well into a true exploration well. Earlier this year the company suspended the well so it could bring in equipment to deepen the well to around 2,000 metres - double the pre-drill target depth - and test the oil reservoir.

The discovery was not a complete surprise - oil is known in the area, including the Ripi oilfield 40 km away - but the potential size of the reservoir could be. Ascent is currently production testing over a 450 metre gross reservoir section. This is a thick reservoir section and the company said the log data indicates "continuous limestone with extensive dolomitised zones totalling over 140 metres within the 450 metres" while porosity in the dolomite frequently exceeds 10 per cent (eight per cent is about the minimum for a decent oil well). So, there is everything to wait for.
< back

[skyship] 06/8/2007 17:28

Agreed - a diluted but safe way to play AST.

[cyclingnut] 06/8/2007 16:53

SKY,

That was primarily on the back of the realisation that TIR was a cheaper vehicle into AST don't you reckon?

[skyship] 06/8/2007 11:26

Well - the recent rise from 3.65p to 4.85p BID looked pretty sudden by my book. OK - followed by an equally sudden retracement, but we're still UP 12.5% in less than 4 weeks.

Nevertheless, we all know this is a lockaway rather than a trader stock.

[cyclingnut] 06/8/2007 10:37

MARTEST,

Nothing SUDDEN happens here.

[ntv] 06/8/2007 07:41

i doubt it martest
these have always stood at a large discount

[martest] 05/8/2007 20:44

these could move up to 5/5.5 suddenly,especially f AST hang around 30+

[skyship] 05/8/2007 10:06

Yes - Monday could well be interesting......indeed the next few weeks should provide the right market conditions to kick-off the new 2007/8 Buyback Scheme.

The share price will likely reflect short-term moves in AST, which closed weaker on Friday and could well drop through the 28p support, so confirming the breakdown of a Head&Shoulders formation. In that case back to 22p might be on the cards. Though bullish news form the Agnani drill could turn that ship around regardless of the general market direction....

[ntv] 03/8/2007 23:23

skyship
you will get your stock monday just place your order

[alanji] 03/8/2007 20:21

Wish hard, please. I am not sure anything else will work!!!!!!!!!

[skyship] 03/8/2007 14:58

SO......WHO STOLE MY 100K!!!!!!!!!!!!!

I was waiting patiently for an offer @ 4.0p......was offered 4.0925p no less than 6x......then someone jumps in ahead of me and pays 4.05p.....very annoying, but well done that someone.

Todays interesting thought:

With TIR there is always the considerable upside potential should there be any corporate activity involving director Colin Bird , who is better known as CEO of Jubilee Platinum (JLP) & Chairman of Pan African Resource (PAF).

Having just banked £3.5m from the sale of one-third of his holding in JLP, might it be that he will buy out Bruce Rowans's 25% stake in TIR and use it as a vehicle for other more exciting resource activities. I wish.......

[skyship] 03/8/2007 09:36

Thanks again CN. As often stated, I would have loved to have been there, however to fly back from SW France would certainly have been a rather expensive trip - & someone has to look after the pool!!

I shall continue to question by other means; and shall report back to this thread as & when there is anything to report.

In the meantime........AST 31p......Gross NAV 8.6p.....

[cyclingnut] 03/8/2007 09:17

sky I arrived 20mins late but there was 3 of them and about 5 of us. I was asking the most questions. Colin was a little suprised of AST's 50% farm out as he indicated if what they have is that good why not raise some funds and keep the lot as opposed to giving half away

[skyship] 03/8/2007 09:03

CN - sorry, & one other - did they make NO comment regarding ASCENT (AST) - the drilling (not mining) company which represents 49.3% of our NAV?

[maxbubble] 03/8/2007 08:58

theres obviously a difference in views between Bruce and Colin - Starvest and Sunvest continue to make investments - maybe the funds here are earmarked for a bigger project which will be more liquid but still offer significant multiple upside.

[skyship] 03/8/2007 08:43

CN - thanks for that, so glad you managed to get there. Do you mind if I ask a few questions though:

1. Re AFE: Strange one that as AFE held a £7.4m placing at market last week (14p). Did they participate? If not then why not & if yes, then why not say so. Bizarre. Any further memories on that one?

2. Was there any mention of better reporting? Currently they are secretive to an unnecessary degree.

3. Holding CASH is all very well when you can earn a decent return; but did no-one criticise them for holding 45% cash for 3 years during a period of historically low interest rates?

4. Was there any comment from the directors regarding alternative methods for reducing the discount to NAV - today more than 50% incidentally!

5. What did you think of Bruce Rowan's thought processes? Seriously, l did wonder after reading his rambling and irrelevant Chairman's Statement whether he might be suffering from early onset Alzheimers. Was he sharp and on the ball?

Finally:

6. Were there many other private investor shareholders in attendance?