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Guerilla Investing

Tag: AST

  • The ‘Bushmills Vampire’ is Dead! Ascent Resources Post Corona. Buy!

    The ‘Bushmills Vampire’ is Dead! Ascent Resources Post Corona. Buy!

    It’s with a certain amount of ‘I Told You So’ that I pen this epistle….

     

    There’ll be no wailing and gnashing of the teeth from Ascent Resources (LON: AST) shareholders at the demise of the God awful ‘Bushmills vampire’, Colin Hutchinson, finally receiving his much deserved metaphorical stake through the heart. I just hope that the ‘Slayers’ (new team) double checked the stake had gone right through when they sprinkled holy water over the corpse. Always best to be certain when it comes to Vampire killing…. Gleaned from watching the Netflix series, Van Helsing 

    So what next for the Slayers, Ewen Ainsworth, James Parsons and Leonardo Salvadori? Well with the cancellation of Riverforts $421,943 note into a two-year zero-coupon bullet payment loan, convertible at 7.5p per share when ASTs share price exceeds 10p per share for more than 5 days, which represents a potential 100% increase from last weeks placing price of 5p now makes AST a fairly comfortable trade/investment, you can buy at 4.p ish. However, that’s not why I bought in.

    As most of you know, who follow my site and twitter, I’ve been a fierce critic of Ascent Resources. I know this company inside out and everything that’s happened to AST I’ve correctly predicted. Clive ‘carve ’em up’ Carver with his crusty sidekick, hapless Colin Hutchinson, destroyed the company. They had no regard whatsoever for their own genuine shareholders. It was never about getting the Slovenian gas asset into full production. Ascent became a ‘confetti machine’ for the likes of Darwin, Henderson Global et al.

    The new team who came in last week are some of the corporates I was talking to on behalf of the defunct shareholder action group, set up 18 months ago. Suffice it to say that the market and value of the company has somewhat changed for the worse. Shareholders gave up. And who can blame them? But hope has now been revived

    🧛‍♂️Bushmills vampire🧛‍♂️

    Ascent are basically debt free, ‘Bushmills vampire’ free, generating limited cash from their gas production in Slovenia (which is at the moment mired in a legal controversy the ‘Vampires’, not only created, but failed to address) and now have a team that can sort the mess out. Make no mistake the ‘Slayers’ have already started the process of righting the AST ship. The word is that a delegation is heading to Slovenia pronto! Expect news on this shortly.

    News has also reached ‘Yours Truly’ that the new team, pre taking control of the Company, have been in talks with several production/exploration cash strapped oilers, one being Humber Oil & Gas. You may know Humber as a partner in one of the biggest onshore O&G discovery’s in the UK: West Newton and have a stake in the soon to produce Wressle discovery. You may not know that they’re desperate for cash having paid all their West Newton drill costs. All their assets are up for sale. Including West Newton. Enter one Jon Fitzpatrick, (X Macquarie Capital) the negotiator rumoured to be working on behalf of the Lang family. At what stage any of these talks are isn’t known. But talks, there are. Now remember it’s your money not mine. That means investors/traders can buy, sell, hold, derisk or ignore at their own discretion.

    If the new team had taken over 18 months ago the SP would probably have made it back to 2/3p. Fast forward today post the consolidation and placing, we have an SP of 4p ish with a resetting of the ‘stock clock’ to 46,196,484 shares in issue. The market cap’ is sub £1.8M. Once the corona virus ‘deflating’ effect passes & the spooked herd stop burning the house down, we’ll see an inflation, subject to sorting out Slovenia & depending on what comes into Ascent, 10p/15p, maybe more, looks achievable……

    Now don’t let me have to write another ‘I told You So Epistle’ when it reaches 10p!

    Viva

     

    Dan

  • Ascent Resources. ‘Mother Hubbard’ There’s Fook All Left In The Cupboard..

    Ascent Resources. ‘Mother Hubbard’ There’s Fook All Left In The Cupboard..

    “Mother Hubbard there’s nothing in the cupboard” So goes the sad sorry tale of Ascent Resources (LON: AST). Today’s 7am RNS announced accounts for the year end December 31 2017. The problem was that the accounts were not released within the RNS and directed investors to their website which funnily enough never had the accounts on. READ ACCOUNTS HERE 

    Now call me a cynic! ‘You cynic Levi!’. But surely if an RNS states that the accounts are on the company website then that is where they should be. But no. Several calls to the AST Nomad, Aim reg team with a follow up email seems to have done the trick. Accounts in all their gory details now on the website 3+ hours late and no wonder why….

    I Want Your Cash! Again & Again ad infinitum to pay my fees for failure…

    The accounts lag behind real-time by some 5 months. It’s glaringly apparent that Ascent Resources are close to the bone and running on fumes. The cash burn is what’s important here. £1,032,000 in Directors/Employees remuneration, £1,966,000 loss for the year with a measly £699k left in cash as of 5 months ago which doesn’t reflect their £210,000 of liabilities 5 months ago.

    Serial Failure…. Gave himself massive pay rise.

    So let’s be generous ’cause I’m a real generous type… Directors/Employees Remuneration is running at circa £1,000,000 per year. Five+ months have since elapsed so circa £500,000 as per their D/E Remuneration cash burn has now been paid but’ lets only take off £400,000 from their cash position that leaves them £299,000. Hang on I here you AST trolls scream ‘we’ve got revenue now!!!’ ‘Ok’ say I, I’ll add that in… The Ascent gross margin was £411,000 that is to say the actual cash received and held by AST. So you have £411,000 per year but your running at a £2,000,000+ loss! Ergo there’s a £1,600,000 funding gap that has to be bridged to survive this year!!!

    Old Mother Hubbard LOL!!!!!

    Where is that money coming from because it’s not coming from the production is it? Production is declining because there isn’t the cash to spend on it. What an absolute fooking mess the corporate shysters carve ’em up Carver & Hutchinson have made. They’ve cleaned the company coffers out and annually trouser hundreds of thousands of pounds while awarding themselves huge pay increases for failure. You can be sure of one thing whatever happens to AST these corporate shysters will continue to bleed it dry until they are booted out of the company.

    Ascent Resources are running on fumes and regardless of what these two fookers are spinning to you, the mug punters, if they don’t raise cash and raise it quickly then they will be insolvent. Massive Discounted Placing on the way as sure as night follows day! And guess who will be getting the discounted stock? Come on down Mr Henderson and Mrs Darwin. with their bastard child Primary Bid in the bolloxs!!!

     

     

     

     

    Sell and run like hell….

     

    Viva

     

    Dan

  • #BNS Ascent Resources Share-Holder Action Group! Join Up Now!

    #BNS Ascent Resources Share-Holder Action Group! Join Up Now!

    This is the Man responsible for every Henderson, Darwin & Primary Bid AST Dilution! Time to go Mr Carver!

    This is a call to all Ascent Resources (LON: AST) shareholders. Todays RNS is yet another kick in the teeth by a Board who’ve decimated the company SP by allowing wholesale slaughter of their very own sticky shareholders at the hand s of Darwin Strategic, Primary Bid in the bolloxs! Lombard and Henderson Global. Do not be fooled by the various names being used to dump cheap placing shares into the market. These are subsidiaries of Henderson and the Ascent Chairman Clive Carve em up Carver is the chief rogue. Clive Carver is the Chairman of Darwin Strategic. He gets paid by Darwin Strategic. He is massively conflicted. This man has to go! Where is the O&G experience on the AST BOD? They are financiers the lot of them! Which is why a full strategic review is needed! Make no mistake this Board doesn’t give a flying fook about its share-holders! It’s all about creaming it in for themselves and their corporate chums!

    Clive Carvers Puppet on his Darwin string! CEO Colin Hutchinson.

    Join the Ascent Shareholder Action Group. If you are a genuine investor then it is time to get organised and exert your influence on this Board. AST shareholders need a voice. We are close to 3%. Once we get there we will agitate for change. This Board have no ‘skin in the game’. You as share holders do! Regardless of what you think of myself this group is for the benefit of YOU! Join Up!

    If you want to join up then please email [email protected] Provide your Name, Address, Holding and a contact telephone number. Value accretive Change is coming to Ascent so make sure your voice is heard!

    Daniel Levi

  • Ascent Resources Shareholder Action Group Launched!

    Ascent Resources Shareholder Action Group Launched!

    Today I am launching the Ascent Resources (LON: AST) Shareholder Action Group. If you are a genuine investor then it is time to get organised and exert your influence on this Board. AST shareholders need a voice.

    If you want to join up then please email [email protected] Provide your Name, Address, Holding and a contact telephone number. Change is coming to Ascent so make sure your voice is heard!

     

    Daniel Levi

  • Ascent Resources. Potential 2017 mega rise! Watchlist Now!

    Ascent Resources. Potential 2017 mega rise! Watchlist Now!

    Ascent_LogoIt’s a long convoluted process trying to get credible information on target companies such as Ascent Resources (LON: AST). The process involves a myriad of avenues one has to go down, some lead you into a ‘cul-de-sac’ while others leave you tantalisingly close but just not quite there to firm up the whispers. Then you’ve always got to cross-reference and double, ‘double’ check that you’re not being spoon-fed company ramps. Which is why you don’t get industrial scale blogs from ‘yours truly’. Anyone releasing industrial scale diatribes on a daily basis should be treated cautiously. More often than not there’s some form of clandestine ‘Brown Envelope’ involved between the parties.

    News on Ascent has been filtering through to me via various contacts/sources for the last 3 months or so. News that if it comes to fruition would be transformational for the Company.

    Most investors/traders are eagerly awaiting their Slovenia gas asset coming onto production, agreements necessary to allow commercial gas production to commence as early as January 2017 are now in place. Once production starts then this is seen by most as a driver of their sp, but what most do not know is that Ascent were or are being lined up as a target by a well known group of proven oil & gas Big Hitters with massive institutional and retail backing for what in effect could be transformational for the Company and its share-price. That is why I am invested in Ascent.

    1_12HOjEVCDH9oik_bMObYnAThere are various names associated with this play, I’ve spoken to many sources some who I know are involved all are very edgy as to how I came to get knowledge of such a deal that was/is supposed to be kept ‘Tight’. Out of deference to those thought to be rumoured to be associated and involved in what I call the ‘Putsch’  I will not at this stage name them as I believe that the deal, if my sources are correct, hangs in the balance and has a 50/50 chance of realisation. The sticking point could be the amount of convertible loan notes that are currently outstanding.

    What’s interesting is that sources are telling me that the Slovenia assets were looked at prior to Ascent getting them, by the CEO of a now highly successful mid cap oil & gas producer who at the time 2008/9 wasn’t in a position to acquire them. They believe now that there could be multiple TCF potential deeper down within the Petisovci reservoirs, which is why the failed Cadogan Petroleum (LON: CAD) takeover approach came to be, that approach eventually blew up due to the AST SP rocketing to over 7p.

    There’s lots of speculation on the sp potential out there. One broker (who must be a part time glue sniffer) has a 33p target for this year. Cutting through such utter nonsense I’d look at 5/6p being achievable on gas production and 10p if the ‘Putsch’ is successful. Remember as ever it’s your money and your responsibility. Derisk on the way up. Because it is going up in 2017.

     

    Viva

     

    EDL Pumpers & Dumpers!

    Dan

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