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Final results out.

http://www.investegate.co.uk/article.aspx?id=200906121330018324T


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Unlikely perhaps they would release Finals and then P&A Gazatta. They could easily have waited until next week and released the final results with any Gazatta P&A.

So things are looking more positive I think. Good luck all. Lets hope Gazatta is the "company maker" that it could be.

Having acknowledged to myself I have been lazy and making mistakes listening to others I have gone over the Gazatta stuff in detail, and made a post on TMF.

http://boards.fool.co.uk/Message.asp?mid=11581968

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I think next news is Otto on Wednesday, as per the near final paragraph of this post, but then I am long and have rose tinted specs on with regards to AST, do DYOR !

Top post Proselenes. Let's just hope that this is going to be a week to remember - for all the right reasons.

We can only hope so, but sadly in the O&G business failure is much easier to find than success.

So we can never forget that a bad result is more likely than good most of the time.

Proselenes, you sound like "Eeyore" out of Winnie Pooh.... go and eat some more thistle's and sound more positive..:))

pp is it time to get out?

Why on earth would you want to get out ? I am here for the long term and will see Ascent though Anagni-2 drilling, Switzerland drilling, Bajsca drilling and everything else.

Gazatta would be a company maker if it comes in, but it will also not be the end if it does not.

Its a P&A. News out from Otto this morning. Thats the end of Gazatta then. Ascent is no one trick pony, but the next "biggie" is Anagni-2 oil well during the summer.


http://www.ottoenergy.com/irm/Company/ShowPage.aspx?CPID=1345&EID=95889276

Italy – Cento‐Bastiglia Permits

The Gazzata‐1 exploration well intersected a series of sand/shale sequences below 2,300 m and was drilled to a total depth of 2,840m. Wireline logs have been run and the interpretation of the log data does not indicate any commercial gas zones.
The well will be plugged and abandoned as a dry hole.

You do have to raise questions over the quality of the seismic. No mention of the primary zone and only mentions the secondary shales/sands from 2300m which were the secondary targets. The primary target must have been a complete washout ? or perhaps we will hear more details from Ascent in their release later today.

Although the well was paid 100% by Otto and so no effect on Ascent in cash terms, its a big lump of their potential blue sky now gone. The remaining high impact projects are Anagni-2, Switzerland and Bajsca.

Anyway, at least people will no longer be saying the GEM placing was a bad idea, it was a very good one and the company got cashed up at over 7p.

Next up are a couple of small wells in Hungary to increase gas production output at the PEN fields and then the next "high impact" event in the summer when they drill Anagni-2 for up to 50MMBO of oil.

Focus now returns to more mundane issues with increasing Hungarian production, Jolly Ranch progress, further SS deals and the like until excitment returns with Anagni-2 sometime this summer.

Hawk has pulled the plug on Jolly Ranch deal, this will pull AST back as well.

Perhaps AST should employ VIY!

This offer for A 20% share of HAWK's Jolly Ranch is turning out to be a bit of a farce, with SS saying they couldn't raise the cash due to their failure to realise assets. Is the whole thing a game being played by DB AND JE? Note how the HAWK sp rose after the potential sale was announced, what is going on?

It's crap and Market Makers having a field day!

What's odd is that, so close to a Placing (at 7.4p, see RNS), the company implodes with ten's millions shares sold. Presumably the rats will spernd this "placing" money on better prospects and maybe some oil Execs (er, would be nice) - - -
EDIT(1Jy09), Down Lots and UP 10% today. Buy=3.5p-ish

Dreams of riches beyond avarice delayed again! Story of my life.

Well I have now finished buying lots more and below 4p prices and what a bargain it is in my opinion !

My buys earlier this year at below 3p are still in profit and now averaged up with a vast amount more at around the 3.7p level.

There is so much going on with Ascent and they also have very recently raised a nice wadge of cash to cover ongoing expenses for Bajsca, Slovenia, Peneszlek, Panhandle and also Anagni-2.

There is quite a number of drills in the months ahead, not least the first of the Hungarian Panhandle drills with JKX and Horizon based on recently acquired 3D seismic which should be in July.

July/August should see the Pen-105 well be drilled and also before the end of August the Anangi-2 drill should be complete. Its only a 500m drill so when it happend it should be very quick from spudding to completion. Final approval to drill is pending so we should expect that in July or August.

Anagni-2 has potential enough to send this through 25p depending on what they find, but for those who like to see more general progress then watch Hungary and the Panhandle and Peneszlek field drilling and increasing of production output and also reserves.

Anyway in the face of the bad Gazatta news I am happy to have got a load more shares at well below 4p. The San Severina agreement never lifted the price in 2008 when the JV was announced, so whatever happens there its never been priced in anyway. Hopefully now San Severina and AST will want a quick face saving deal with something, so news there is a potential.

Lots more things in the pipeline too (excuse the pun) but for now the short term traders will be eyeing up the Anagni-2 drill and when that is due to start.

So for the record, I have now averaged up slightly after buying a load at around 3.7p and very happy with an enlarged holding going forward !!!!!

Your strategy is your affair, of course, but would it not be worth taking some profit & then a percentage of your holding would effectively be a free ride? What if there is another dip in the sp? Your profitable stock would be wiped out.
Just an opinion, but lots of posters on these boards regretting not locking in profits, including myself on some stocks.

Harry see our post 145 and 151 told you so!

Harry, I do do it sometimes in order to lock in some profit and reduce the average therefore of the other shares should the price fall, as I use reinvested profits from higher sales to buy back even more at lower prices on failure.