Ascent Resoources

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7th Jun '09 by dowdtw

16 comments 4200 reads

I can't believe there is not a forum for this stock yet. It has so much potential!

Big results due Wednesday and so much more in the pipeline!

please feel free to post here regarding Ascent.

Regards Dowdtw

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About the Author

Dowdtw

Premium Member

16 comments

dowdtw

7th Jun '09

Welcome, I hope I have generated some interest for this stock, so much potential.

Firstly the website: www.ascentresources.co.uk

Where you can find the latest news: www.investegate.co.uk/index.aspx?searchtype=3&words=ast&go=

News regarding its latest project is due out Wednesday, as shown in the previous RNS at the above link, looks promising with a 60% chance of oil/gas.

A cracking investment medium to long term.

Anyones thoughts or insight would be appreciated.

DYOR

Dowdtw

MrT

7th Jun '09

More details, ideally referenced, on why it's such a "cracking investment" would be appreciated. Where does it operate? Who are the management? Why are they backable?

dowdtw

9th Jun '09

Why are they backable? Please see http://www.investegate.co.uk/Index.aspx?searchtype=3&words=ast&Go= I recommend from 14 May to present.

Operates in Europe, on land reduces production costs, for exhaustive list of operations see website: http://ascentresources.co.uk/assets/index_new.php

Management see: http://ascentresources.co.uk/strategy/management.php

I hope this helps Mr T

Regards Dowdtw

DYOR

Gradders73

11th Jun '09

dowdtw

I'm assuming you're long this stock then?

dowdtw

13th Jun '09

well......

dowdtw

13th Jun '09

yes, i'm definitely long in this stock, are you? if not, why not?

Do you have any thoughts that you would like air?

DYOR

DOwdtw

dowdtw

15th Jun '09

does no one have anything to say here?

doverbeach

15th Jun '09

I think we are all waiting for you to post something of interest on the stock. I don't hold, so I haven't been following the Gazzatta well speculation - what is your view on it?

Gradders73

15th Jun '09

I read the latest results but nothing jumped out at me. I am bullish on natural gas, but I am not sure what's the specific benefit of buying this stock vs going long natural gas futures (which does seem quite tempting...)

ternary

15th Jun '09

In reply to Gradders73 (post #9)

Gradders - I'm interested in your views on natural gas futures. Are there any regular reports you could point me too, or any punditry you respect ? I'd like to get up to speed on gas pricing.

Just to get a little nearer to the topic in hand - djp mentioned over on TMF in early April that Dualex (partners with AST in Hungary) were getting $19.61 per mcf, which produced net revenue of $14.95. A different world from gas in the States at $3.50 - $4, unless I've misunderstood something. Can we presume that prices will be fairly uniform across Europe ?

Proselenes posts some useful stuff on AST on TMF on the Oil & Gas - Companies board. Last month he quoted Otto's broker whose comments he reckoned meant a successful well at Gazatta could add 35-99p to the share price, which is currently trading at 8.5p approx. Otto Energy Limited (ASX:OEL) are in partnership with AST and put out a weekly drilling report on the ASX - I assume a regulatory requirement over there. Apparently less than 10 Bcf recoverable is commercial in Italy since the infrastructure is very good. AST have a lot of other prospects and have had some success in Hungary earlier in the year.

Mike

oilretire

16th Jun '09

Bad news from down under - Gazatta P&A'd

http://www.asx.com.au/asx/statistics/displayAnnouncement.do?...

emptyend

16th Jun '09

....mmmmmmm.....Ascent is wrongly named it appears:

http://www.investegate.co.uk/Article.aspx?id=200906160700129396T

DEscent appears to be the order of the day - off 50% at the open (4p bid). Looks awfully like TRP's chart for the last two months......

Bad luck for holders, incl GHH IIRC.

doverbeach

16th Jun '09

and San Severina pull out of the HAWK deal

http://www.investegate.co.uk/Article.aspx?id=200906160700129491T

djpreston

16th Jun '09

Talk about a double whammy.

Okay, so Gazatta can be excused, every well has a risk but this SS pullout looks decidedly odd.

I remember when it was first introduced that some wondered (including me) who the bleep were SS? There was no real information about them anywhere. I know the Swiss can be secretive but.....

Can only think of two possible reasons:

1. They dont have any money - bad for AST's DD work.

2. They did the DD and decided in the event to pullout/default on payment - implies somethign bad for HAWK.

Either way it aint good news. I dumped the small rump of our position this morning. It hadnt cost us anything - bought at 2.75p last year and sliced out much more than cost at much higher levels. Even getting out at 3.75p this am is still a gain on the rump.

Whilst there are some potentially attractive assets in ASt, they have takena big hit to their reputation with this news. Im still attracted by the Hungarian Assets (dunno why I have a soft spot for Hungary....the girls and the food probably) but for that I would much rather "play" Dualex. Tiny mkt cap, net cash and very attractive Syrian licence to be drilled later this year with Stratic. Management are also very conservative (unlike some Cannucks I can mention).

Gradders73

16th Jun '09

In reply to ternary (post #10)

I am not sure they are exactly the same units for conversion, but from what I can tell, there is a bigger supply in the US that Europe and more demand in Europe for power stations. The European market is pretty uniform with TTF (Holland and NBP (UK) hubs generally setting price. The market for pricing can be very volatile, a high proportion of the hedging is not actually price, but supply, so you contract to receive a quantity of gas but pay the spot price. One of the big differences between oil and gas is that gas is much harder to store and as it flows in a grid, there is a need for a regulator to balance the market (i.e. work out who's putting in and who's taking out). Europe is also more complex because the biggest supplier is Russia (40% of Western Europe I believe) which goes via Ukraine (sound familiar?).

The US has huge reserves, but you can't easily arbitrage the prices as transportation is very difficult.

The big unknown is the impact of LNG - huge fields in Indonesia and Qatar will become available, should keep a cap on pricing, but the infrastructure to re-gassify is behind the curve.

If I find anything else, I'll post it.

As for Ascent - all I can say is Caveat Emptor...

djpreston

16th Jun '09

RNS out from AST re Jolly Ranch.

Essentially its because they couldnt lay their hands on the money! Some investmetn fund they are!!

Ascent, through its asset management joint venture business with San Severina, was to be assigned a 4% interest in the Project on completion of the transaction. San Severina has advised that failure to settle the initial consideration required under the agreement was due to delays in monetising long term financial assets required for the transaction.

The Company continues to assess a number of other transactions in conjunction with San Severina with a view to acquiring minority interests and providing investment funding for producing and development or appraisal stage oil and gas projects.

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Dowdtw

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