.

Also featured on the FT Alphaville blog today, might be some news in the air ?



http://ftalphaville.ft.com/blog/2009/08/14/67046/markets-live

...........
BE: While on the subject
BE: Getting a few calls about a thing called Ascent Resources
BE: http://www.ascentresources.co.uk/
BE: Something positive on the way, but they might be having a bit of difficulty getting the news out
PM: :) :) :)
BE: So if there’s anyone in corporate broking that wants to pitch for business, that may be a phonecall worth making.
PM: cheers for all that
............




.

As a summary, the volume this week has been huge. PC has sold down to 8m and not looking to sell anymore, he will in fact buy if if goes below 4.5p. Another large seller is also clear thanks to the huge volume and buying.

Why has there been this much buying (and selling of course as the price has been muted in not rising by massive amounts) ?

Rumours abound of positive news, so we will just have to wait and see what happens.

Certainly interesting times in the 3 months ahead with lots of Hungarian drilling and also Anagni-2 to drill in Italy.

What are the FT Alphaville blog rumours ? Merger possibly ? SS deals ? Are SS going to "merge" into AST and create "new company" ? Is someone else with cash going to merge in with AST ? Lots of potentials but for now the focus is on the drillbit in Hungary.

I have been thinking about what could be "difficult news to get out".

Lets have a scenario.

Perhaps its San Severina, perhaps they have monetised their long term assets and now are flush with cash.

Before going ahead with any deals, which they know will obviously boost the Ascent share price, they are hoovering up a large stake in Ascent to benefit themselves also due to the rising AST price.

This way they get maximum profits, not only from the investment they make in whatever project, but also from the rise in AST who also benefit from the project.

Now that would be difficult news to get out, how do you say "Our partner is now cashed up and hoovering up our companies stock, ahead of them going ahead with deals through the partnership with Ascent"

pp we should find out soon enough, any shareholding over 3% has to be declared as you know.

halifax, does not have to be declated until the buy order is completed. This is how people get around the rules and say how RAB got away with selling millions before finally announcing months later they had been selling.

If someone has placed an unlimited buy order they can bend the rules for a long time before they have to declare what their holding is, due to having an as yet uncompleted order on the market.

pp what do they gain from this, surely they want to see the sp rise asap after they have completed buying.

Why rush, they are not short term traders trying to make a few quid. Investors make millions and they have a plan and they do it as per plan.

Anyway, I would think its not them, it might be, and might not, but someone is buying in volume.

through Barclays by all accounts.. see RNS.

PEN-105 spudded yesterday.


http://www.newswire.ca/en/releases/archive/August2009/17/c5488.html

CALGARY, Aug. 17 /CNW/ -

DualEx Energy International Inc (TSXV: "DXE") is pleased to announce that drilling operations have commenced at the Company's PEN-105 location in the Peneszlek area of northeast Hungary. The well spudded on August 16, 2009 and will be drilled to a depth of approximately 1500 metres to test a structure which previously tested gas from the base Miocene volcaniclastics in the PEN-12 well (drilled in 1982). Interpretation of proprietary 3D seismic undertaken by DualEx and its partners indicates the PEN-12 well is off the structure and the top of the reservoir section is at the pool gas/water contact.

PEN-105 will be drilled at a location approximately 20 metres structurally higher than PEN-12, on the crest of the four way closure. Drilling is expected to take two weeks followed by a two week test period.

DualEx holds a 37.5% interest in the Peneszlek Project through its equity
interest in PetroHungaria kft. Other partners are Ascent Resources (45.23%),
Geomega (8%), Leni Gas & Oil (7.27%) and Swede Resources (2%).

DualEx Energy International Inc. is an oil and gas exploration company
with operations in the greater Mediterranean area. DualEx's common shares
trade on the TSX Venture Exchange under the symbol "DXE".

Second well now spuds.....two on the go

http://www.investegate.co.uk/article.aspx?id=200908180700095959X

RNS Number : 5959X
Ascent Resources PLC
18 August 2009

Gbeha-1 Drilling Commences

Ascent Resources plc, the AIM-traded oil and gas exploration and production company, announces the commencement of the drilling at 5pm CET yesterday of the Gbeha-1 well, located in the western part of the Nys Szatm permits in Hungary, known as the Panhandle. The drilling, expected to take about ten days, will evaluate a primary gas target estimated to be at a depth of 1,200 metres.

The Gbeha-1 well (GH-1) is located a few kilometres south of the Hajd-1 gas discovery drilled by Hungarian Horizon Energy ('HHE') and JKX Oil and Gas plc ('JKX') and is some 70 kilometres north-west of PetroHungaria's PEN-104 gas production well in which Ascent has a 45.23% interest. Ascent has a 20.167% interest in the Panhandle exploration project, having acquired an additional 2.666% from Geomega Kft. The other partners in the project include HHE (33.333% and operator), JKX (33.333%), DualEx Energy International Inc. (12.5%) and Swede Resources AB (0.667%).

Further to the announcement of 10th August 2009, drilling of the PEN-105 well in the Penzlek area of the Nys permits in Hungary is in progress and is currently drilling ahead at 310 metres in 12-1/4' hole. It is expected it will reach the primary target within two weeks, a gas prospect in the Miocene aged formation that is estimated to be at a depth of 1,500 metres.

Great ,this one reacts well to such news.
cyril

Going well.

Fox Davies have an 11p target price for now.

http://www.moneyam.com/InvestorsRoom/posts.php?tid=14368#lastread

http://www.moneyam.com/InvestorsRoom/posts.php?tid14368#lastread

D/D you need to clicl on the link above the posr box, to allow direct access.
In this case, a blank?
cyril

So RAB have sold 8m and Paul Curtis 7m and someone has been buying them, along with the GEM shares as well.

RAB have finished selling for now (thats why the notification), so has PC so be says.

http://www.investegate.co.uk/Article.aspx?id=200908210700047951X


Who has been buying all these millions of shares ? And with no notifications of new major holders they must still have an outstanding buy order being filled, and so do not need to notify until its filled.

Someone has been buying all these shares, will be interesting to find out who and why. The rumours of a predator interest in AST will not go away while the large volume each day keeps on going and no news on new major holders.

Drill results or at least updates could be coming early next week, will be interesting to see if finally AST can get a good run of successful drills going.

pp EK agrees with about the sellers and has increased his long position with a target sp of 100p.

moving up nicely on steady buying.

Held above 7p,could be in demend nexrt week with latest drilling,possibly next Friday, or maybe monday?
cyril

Should be well past 8p next week, maybe 9p or 10p on good news from the two drills.

Going strong, being held back as big buys not allowed at the moment.

Could get near 8p today.