Ascent Resources, on the cusp?

  • By Chris Bailey
  • 22 Mar, 2017

Ascent Resources is on the cusp of transforming from an explorer to a producer. The present SP is considerably lower than when previous promises of production were made. Although there have been many years of disappointment for the company and its investors, it appears things are about to change. With gas in the pipeline and a customer or two ready to receive it, it would seem the cash is almost in the till! The CEO has made it clear in recent interviews that he expects the permit to be stamped after complying with conditions levied on the operations, it could land on his desk at any time! Some big names linked to AST and the future of the company, once the gas is hitting the waiting customers, the company share price will be a long way ahead of the present near 2p!

All this is due within weeks, now is the time to be investing a few bob in my opinion. A multi-bagger from here and not long to wait!

Joe's Jabber

By Chris Bailey 29 Nov, 2017
Yet another episode of bad timing by Colin Henderson, CEO of Descent Resources! He made two mistakes today, to add to his already poor record of errors. Firstly, when a director buys shares, it is usually a sign if confidence in his company and the future. It is a sign to investors that the company is heading in the right direction. It is a sign to shareholders that all is well. Strange the the SP failed to react and even dropped at one stage. And Colin's mistake, in his catalogue fo failures to meet shareholder expectations? After the total lack of momentum after the INA contract sign off and the IPPC appeal cleared down for the company, he has now not only purchased an amount likely to dampen everyone's enthusiasm, he has also confirmed there will be no price sensitive news in the immediate future.

What will now happen is present shareholders will start downsizing to invest elsewhere. There are so many stocks out there that are going to make investors far greater returns than sitting in AST will do and this game is about making money. If you are on AIM, in general, you are NOT a long term investor, you cannot afford to be. 

From here on in, shareholders will reduce, day traders will move in and I believe the SP will struggle for some time going forward. 

I reduced my holding here by approximately 350k today when the SP lifted prior to Malcyy's interview and Iv'e injected that and other funds into MSG and ONL. It will be interesting to see what the returns on these two will be by the new year compared to Ascent Resources.

I think Colin's a decent guy. He has his heart in the right place. What he doesn't have is a clue how to manage Ascent with a view to building the SP up in line with other companies on AIM. 

Good luck to all invested in AST, you wont lose money in the long term but I think it will be a shaky journey for a while now.
By Chris Bailey 26 Nov, 2017
So just what has happened to investors dreams with Ascent Resources? Years of delays, millions of pounds and then, as the finale eventually plays out, the fireworks turned out to be damp! Whilst the CEO presiding over this momentous occasion cracking into another case of his favourite tipple, the £159, 21 year old distilled single malt, ASTonished shareholders were left counting the cost of an ill-timed placing. Not a normal placing, one for the people! Colin's way of thanking long term shareholders,the majority who had every penny already tied up in the company, were offered the chance to sell their cars, prostitute their wives, whatever it took to raise cash to buy shares at a mere 1.66p! And almost three hours to raise the cash! All thanks as well to Ascent's in house financier for getting that organised, good old Clive, the man who gets paid by Ascent for arranging finance through another company who also pays him. Not too much of a conflict of interest! People arranging loans for third parties are usually given arrangement fees/commission too! So at least the board are doing well for themselves!!! Time for the beASTly Mr.  Carver to go!

Now, just why did Colin do this placing and why did he do it when he did? 

Colin tells his shareholders the company needed some cash to tie them over until the INA deal was done and obviously there must have been no cash in the kitty because the ludicrously low value deal was done just before the deal was signed! Ooooh, what a surprise that must have been getting 1.5 million quid in and then getting the contract signed! Yes folks, the shares were so cheap and in demand, the company issued an extra £500k's worth!

What was TOTALLY wrong here was that he should have issued an RNS after the INA deal, offering shareholders the opportunity to take part in a fundraising when the SP had seen the benefit of the long awaited deal. The share price on that announcement would have easily breached 3p, allowing loyal, long term shareholders the ability to take a little profit and thus be able to benefit from buying some discounted shares. Instead they were royally shafted by being locked in whilst traders and brokers sucked them up, offloading them 24 hours later at a tidy profit. This was a scandalous move by the management of Ascent, one that has led to an almost daily fall in the SP to levels lower than the ludicrous placing price, levels lower than when there was NO gas being flowed. 

And where are shareholders left now? They are left waiting at the station with the nearest train the other side of the country and in no hurry to collect the passengers!

Short of a takeover offer, the IPPC which is the only significant event left to mature will cause a spike and allow all the buyers at these low prices to take their profit and wipe away any chance, yet again, for LOYAL long term holders to take a little profit. Rinse and repeat, rinse and repeat, the share price knocked back at every piece of news.

The management have clearly messed up big style, they are running the company FOR the shareholders and have instead rewarded day traders!

Well done Colin an such an ASTute move, really hope you don't get indigestion from your Bushmills!

Meanwhile, spare a thought for all those who have patiently waited for you to come good who will be selling some shares at a loss to pay for their turkey!

By Chris Bailey 08 Jul, 2017
There are, as we all know, some characters in the AIM Game. Ones that run companies, ones that run pump and dump teams, ones that pay pump and dump gangs and ones that just fail their investors year after year, yet still manage to drag more and more unsuspecting, unaware or just plain gullible gamblers into their den.

Now, I'm not going to mention any names because, well, they all know who they are and when you mention certain aspects of their personas so do most others. No need to name and shame, they do that bit themselves!

Recently we have seen the CEO that owns a cluster of wells which struggle to pump a barrel a day, a long term failure when it comes to bringing value to his company, trying to take over another failure, encouraging his investors and theirs to let him in. Increasing the debt position and with no success of his own in numerous years, take control. His reputation precedes him and it will, as usual, trip him up. This is a man that made me a commitment then took the advice of a known pumper and dumper and backed out. A man with no moral backbone who put a screaming ramper before honesty and integrity. Lets hope the Egyptians don't do the same!

Next we have a right ringer. A man that spends more time tweeting rubbish than he does working to bring value to his companies. In over a decade I don't think he has actually produced anything other than dead rabbits from a bottomless hat. With more placings than the words in this write up, the man continues to come up with news that sets the market alight long enough to get a fund raising in before fizzling out as soon as his wages are secured for another year. I see him constantly referred to as a calamity, a con man and a crook. Yet people keep on getting taken in. Of course, this one like the other one above (who allegedly not only pays these people to push his poo but even shorts his own stock when he know he's about to release more earth shattering disappointment) also holds hands with a well known pump and dump media team amongst others.

The pumpers and dumpers themselves, well, anyone who uses Twitter knows them. A hardy bunch who love you when you agree with their ramps and loathe you and block you once you have bought in on their tosh, lost a a load and dared to say anything negative. A group of chums who's leaders are kept informed by these despicable CEO's as to upcoming news so they can build a substantial holding in the cheap, ramp the life out of the 'excellent company and its management' and when everyone has their positions, dump the lot on the back of everyone else's investment making a nice packet whilst leaving all their followers locked in at a loss. One of these cowboys once tried to destroy me, my business and my reputation because I dared to fight back. They don't like anyone with balls!

The latest and by far most amazing piece of news I have read in the last week is this particular pumper and dumper has now teamed up with the most notorious CEO known to man. A CEO who drools cash made from setting up companies, pumping them personally, promises the earth and comes up with just that. Dirt! Now he has formed an allegiance with the most notorious leader of the pumpers and dumpers, someone he was not long ago condemning to the point that anyone on his followers list would be removed if they followed him. Now he's going through that list removing people who don't follow him! You really couldn't make this up. This CEO has just sounded the death knell on any credibility he had left, (which wasn't much anyway) it's as bad as Mrs. May teaming up with the DUP. No morals, no ethics, no integrity.

For anyone about to invest in any company on AIM, examine the assets, the management and the people promoting the company and you still probably won't have a chance of getting it right!
By Chris Bailey 08 Jul, 2017
There's no doubt that any reduction in the CLN's is good news for AST shareholders at what is (hopefully) an imminent company changing position. Whilst this issue has been contributory to the demise of the share price along with constant delays, it does now look as though shareholders are on the cusp of seeing substantial returns to their investment in the very, very near future. Taking away the sentiment, the fact is, the gas is there, the pipelines are there, the market is there. INA wants the gas and as much of it as Ascent can supply. This is, however you look at it, this is a major step for the company, from an explorer to a supplier, cash coming in and along with it, a considerable amount of the costs being repaid. Ascent are going to be cash rich in a utility in high demand with additional wells sitting there ready to be added into the network. Whilst some people may look at CEO Colin Hutchinson with disappointment due to the constant delays, this chap has brought Ascent to the tip of what will hopefully in the next few weeks be a major event. Could anything else go wrong? Well, the silly little person constantly submitting objections is fighting the government, a government that need this gas. His frivolous objections are coming to an end. Can the wells develop any problems? They are tested, connected and transferring gas. Anything could go wrong but the odds are not stacked against it. Do INA want the gas, could the deal go wrong? That one would be pretty unlikely! Shareholders are now just waiting for confirmation the gas is surging to INA, Colin says everything is in place, so no more delays, lets get the AST show on the road!
By Chris Bailey 03 Jul, 2017
Is Colin telling porkies or are we soon to be feASTing on the back of Ascent? Does the man in the hat look like a con man? 

Just how many delays can Colin  keep announcing before the market starts to become suspicious about the deal with INA? Investors are a fickle bunch and the forums are awash with disappointment with this company and the RNS's that always seem upbeat and downbeat in the same sentence.

Colin has been giving numerous interviews over the last few months that have been positive, morale building and pretty much convincing. Has he been lying and misleading everyone?

Personally I think not. Too much has been said, nothing has been denied. INA are awaiting the gas, they haven't countered anything Colin has said, so I fully expect to see that announcement in the very near future.

Shit happens, in any stock that relies on suppliers, drilling, connecting etc, there will inevitably be delays that are unforeseen. There will be delays that are potentially possible but are hopefully overcome before any announcement needs to be made, Colin is not an ASTrologist!

AST are no doubt on the cusp of a major re-rate, from an explorer to a full on producer and supplier. Whilst the market may punish all us poor investors for mishaps and delays, one should look at the fundamentals and either believe in the outcome or move on.

AIM is high risk, high return and people aren't in it to wait. They want the fast turnover, the fast buck. They buy into companies like AST ready for the announcement pending and if that announcement isn't what they expect, they are gone.

I personally tend to look a little more forward than that and I think Colin will achieve the goals we all expect and my investment here will double/treble over the coming months.

Patience favours the brave, I can't really see any downside here.
By Chris Bailey 03 Jul, 2017
OK, so Sefton Resources is looking like the rogues gallery! However, emotions aside, the new directors aren't the usual bunch of NED's with the only intention to take a wage. These chaps (and chapess) are sitting on huge losses and based on that, will have every reason and intention to recover them. That means, if they do the business, ALL investors in the company will gain from their efforts. They ain't getting paid so there's no way they can benefit in any way other than making Sefton work. And having investors on the board rather than people only interested in lining their pockets makes it all a bit safer. The fact that Dan Levi had a criminal past, well, so what? How many criminals are running AIM stocks right now lol? At least he's an 'ex' con! This is the best news that Sefton has produced for years! 

Now, I am sure, in fact I am waiting, to see the Dan Levi haters and my own personal haters start their forum rants, but of course, none of them will be Sefton investors, they will just be doing their keyboard warrior thing. They will not accept that any effort to restore credibility and financial stability is better than no effort at all, that without this move, the cash would just dwindle. They  will only focus on the fact Dan Levi did some time and that should remain with him for life! Fact is, not a lot of people know just what Dan has done with his life and what he has accomplished that doesn't get publicised, most would surely be amazed!

But, none of this matters, the fact is, Dan, myself and the rest of the directors are in and about to get to work. 

By Chris Bailey 27 Jun, 2017
With so many risky shares on AIM to chose from, just how do you make the final decision as to where to place your cash? Do you look at the assets, the history, the management? Do you watch twitter or read the forums to see who's talking about what? The big problem with the Alternative Investment Market is that we see companies using it to raise funds to finance management lifestyles, promise the Earth and deliver nothing. Constant placings, consolidations and devaluation. Companies that had you put £10,000 in two years ago you could be sat with £100 today. I've been there in the early days, invested in companies like Wiggins, a paper company that diversified into storage and distribution at airports, Yoo Media, Minmet, you name them and I probably had a punt. My first ever investment was in Tadpole Technology, I made £26,000 in a week and got hooked on AIM. Made and lost 100's of thousands ever since.

One thing I have learnt is, for me anyway, to deep research the management first!!!

It doesn't matter how good the assets are, if the people looking after them are not up to the job, they will place and place and place, dragging your investment down on constant promises until the day, if it ever comes. When their promises start to be realised, the only people to make any return is those that buy in at the end story. 

With all this in mind, I have made substantial investments in three companies I believe will return exceptionally promising results. SIRIUS PETROLEUM (SRSP), ASCENT RESOURCES (AST) and PCG ENTERTAINMENT (PCGE).

The first two it is quite clear why I feel positive in the outcome, AST is about to become a major gas producer after being an explorer for many years. Already now producing on a small scale, major sales are imminent and this will change the whole outlook for this company. SRSP are presently in negotiations with BP and have positive operations underway with the Ororo field that has a mid case net NPV10 of the asset of $49.2m, based on a $50 per barrel flat real oil price for life of field. Results are due soon from the drilling campaign and in a proven area and are expected to please investors.

Now, PCG Entertainment is more of a high risk investment due to previous failures, fraud, ex-employee legal actions, not the sort of company one would initially consider throwing their cash at, but this is one where the management interest comes in. Richard Poulden, the CEO who has taken the reigns is NOT recognised for failure. He has the contacts and the experience to turn this company around and when management don't take wages, but shares in lieu, then that in itself suggests an air of confidence in rebuilding shareholder value. Fully funded and looking for deals in a market where the management have experience, PCGE is, in my opinion, one for a major recovery and possible imminent multibag. 

As with any stock, whether AIM or main market, there is always risk. From unexpected legal actions, failed drilling to natural disasters, one can't ever forecast a definite positive return to their investments so it is important to research heavily into all aspects of any company and find the ones with the assets, the management and the potential in their chosen area before you start ploughing your hard earned cash into them. As far as social media is concerned, there are far too many people using it to pump up sympathy for various companies to create a false sense of positivity in order to drag the unsuspecting, inexperienced investor in, thus creating a false interest, a rise in the SP which then allows the perpetrators a healthy exit. There are professional 'pump and dump' crews operating on Twitter that suck people in on a daily basis, so investors beware. Do your own research EVERY time!

By Chris Bailey 06 May, 2017
Just how important is Ascent Resources to Slovenia and Russia? Why do I even mention Russia? Well, Slovenia depends almost entirely on natural gas supplied from abroad. Most of it, as much as 42 percent is supplied from Russia, 35 percent from Austria, 16 percent from Algeria. The remaining amounts of gas are supplied from Italy. So, for two reasons, Ascent Resources will have an impact on two of these countries. Slovenia's own supply removes the need for Russian gas, Russia loses a big customer. Ascent Resources is the middle man who is now on track to squash the Russian's profit and Slovenia will not want a little company like Ascent controlling their gas supply for too long.

It's not as though the company is a small minnow in a big market, in terms of gas supply, they WILL be the market in this country.

As with any utility, they will become part of one big organisation, as in the U.K, British Gas, Swalec etc., someone will want to own that gas, dispense that gas and take the profit for that gas. Will it be AST Slovenia? I somehow doubt it. The question is, when will AST become a target. Is it already a target? Will it be when all the wells are proven up? Will it be when it looks like they are all going to produce to capacity? Will it be whilst the SP is as cheap as chips? Is there a massive buy order in already by the Russians?

One thing is for sure, Ascent Resources are the future for gas in Slovenia and this means they are not going to be around for too long as soon as the cash starts coming in.
By Chris Bailey 24 Apr, 2017

Summary of BRR MEDIA Interview with Coin Hutchinson, CEO Ascent Resources, 24/04/2017

Colin today confirmed the debt on the balance sheet was   SIGNIFICANTLY reduced in the 2016/17 period,   half the debt disappearing during 2016 with administrative costs further reduced !

He was on site just over a week ago and was delighted to see the gas being turned on and going on sale.

There is a workforce on the ground this week at PG11 who will be moving the equipment ready to re-complete sometime in May and then this will be followed by gas sales to INA.

With regards to the assets, Colin stated ' t he assets are 'hugely significant ' and the independently assessed gas in place will supply Slovenia for a considerable time."

PG10 and PG11 have been proven to flow at commercial rates and the company are looking at bringing on new wells, re-habilitating old wells and boosting  production to a stable level, thereby generating s ignificant cash revenues .

By Chris Bailey 21 Apr, 2017
When a company such as AST offers such great potential for a long term investment, it amazes me as to the lack of patience shown by investors when certain entities play with the stock to make money out of their methods!

OK, so Hendersons are dropping their Convertible Loan Notes into the market and it seems the company is being shorted, but firstly, what's new in this game and secondly, has the company reported anything that will make it's shares worthless?

No, of course not and I am aghAST al all the comments on the bulletin boards where 'supposed' investors are saying they are selling out. I mean, wait 10 years for the company to announce it is now producing and selling gas, the price to drop to pre-announcement levels and then move on???

Ascent Resources is producing gas for a COUNTRY! Not the local villagers and it is future major! Well, that's if it's not sold off, which again, would see a nice return for investors.

Why on earth people cannot exercise a little patience for what is pretty much an obvious outcome I can't comprehend. Well, I can, they are in it for a quick kill and it ain't happening quick enough!
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