OK so AST is having a sensational day so far.
Anyone out there with pearls of wisdom?
5p now, gone up 2.75 since I was looking at it an hour ago.
Bugger!!!

Any news?

This stock is acting crazy today.

MM Shuffle

This stock behaves weirdly. All sells but up again. Something happening that we are not party to?

Iturama,

After the major daytrades when it came to market, I noticed a pattern withthis one... MM Shuffle the spread...

Last time they did so (about 2wks ago), it went up 75% ish then back again then up again 40%ish ... only to settle back roughly where it started... All within a few hours time frame... Creating a quick buck if you grabbed and ditched them right... The key then was to be in at 5p or less and to quickly close out at 7-8p...

Thanks mam247. I remember that day (10 Dec) and remarked on it at the time. Can't understand what is in it for the MM'S though.

Iturama,

Had my eyes on it because it had happened before... Key though was the 5p ish entry... Thanks for the feedback.

MM Shuffle... On the go again...

LONDON (AFX) - Ascent Resources PLC said it agreed to buy Gabon Investments (Iris Marin) Pty Ltd and Gabon Investments (Themis Marin) Pty Ltd from Hardman Resources Ltd.

These companies hold a 12.86 pct interest in the Iris Marin Production Sharing Contract (PSC) and in the Themis Marin PSC in Gabon.

Ascent will issue 12 mln new shares to Hardman and following completion will reimburse Hardman for 515,765 usd of past costs. Further payments will be made to Hardman in the event of successful oil recovery.

Ascent also said it is appointing Jeremy Eng as managing director and that it will undertake due diligence on two oil and gas interests held by Eng and others with a view to buying them on commercial terms.

Other partners in both PSCs are: Fusion Oil & Gas with a 20.57 pct, Premier Oil with a 18.00 pct, Petro Oil & Gas Corp of South Africa Pty Ltd with 22.9 pct and Sunburnt Downs Pastoral Company Pty Ltd with a 25.7 pct holding.

newsdesk@afxnews.com

Moved up 37% on very little volume. RNS in full follows. Still not flagged on MoneyAM

RNS Number:1782J
Ascent Resources PLC
01 March 2005

Ascent Resources plc



Acquisition of interests in Gabon Production Sharing Contracts



Board Changes



Ascent Resources plc ("Ascent") has entered into an agreement with Hardman
Resources Ltd ("Hardman") to acquire two wholly owned subsidiaries, Gabon
Investments (Iris Marin) Pty Ltd and Gabon Investments (Themis Marin) Pty Ltd.
These companies hold a 12.86% Participating Interest in the Iris Marin
Production Sharing Contract ("PSC") and in the Themis Marin Production Sharing
Contract respectively.



The Iris Marin and Themis Marin PSCs cover two shallow water exploration
concessions offshore Gabon of 902 km2 and 607 km2 respectively.



Gabon is centrally situated in the West African oil & gas province and has a
long history of oil production. It has the third largest reserves and is the
fourth biggest producer in the region. Current production from Gabon is
approximately 250,000 bopd from its onshore and offshore fields.



Both the Themis Marin and Iris Marin concessions are surrounded by proven
oilfields and are close to pipelines and production infrastructure. Since these
concessions were awarded in 1999, a 3-D seismic survey has been acquired and
from these results a number of drilling locations have been identified. The
drilling of the first of two commitment wells is planned for this summer.



The other partners in both PSCs are:



Fusion Oil & Gas NL 20.57%

Premier Oil Gabon 18.00%

Petro Oil & Gas Corp of South Africa Pty Ltd 22.86%

Sunburnt Downs Pastoral Company Pty Ltd 25.71%



Initial consideration for the acquisition will be the issue of 12 million new
ordinary shares of Ascent to Hardman. Following completion, Ascent shall
reimburse Hardman for US$515,765 of past costs. Further payments will be made to
Hardman of A$500,000 in the event of successful recovery of hydrocarbon on
testing from a well in either of the PSCs and A$700,000 on issue of governmental
approval for exploitation of either of the PSCs.



Ascent is appointing Mr Jeremy Eng to the position of Managing Director. Mr Eng
has extensive experience in the independent oil and gas sector and a wide
network of contacts within the sector. This appointment underlines the
investment strategy of the Board to position Ascent as an active investor in the
junior oil and gas sector. At the same time, James Pratt and Gary Steinepreis
are resigning from the Board.



Jeremy Eng, aged 45, has a masters degree in petroleum engineering and more than
23 years of oil & gas industry experience. He has specialised in operations and
technical management for the independent sector. After commencing his career
with Schlumberger and subsequently working for Premier, Tullow and IPC, which
has since been renamed Lundin Oil, he founded and for many years ran a
successful petroleum engineering consultancy business. Recent positions include:
CEO of a private upstream gas company and Technical Director of WPN Resources
Ltd, a Canadian junior listed oil & gas company now called Grove Energy.



Following his appointment, Jeremy Eng will be granted options to subscribe for
10 million new ordinary shares at a price of 5p per share, exercisable at any
time between the first and fifth anniversaries of grant.



Ascent has agreed to undertake due diligence on two oil & gas interests held by
Jeremy Eng and others with a view to purchasing them on commercial terms. A
further announcement will be made in relation to this potential acquisition at
the appropriate time.



1 March 2005



Enquiries



Jeremy Eng

Managing Director

Telephone: +44 20 7251 4905

Facsimile: +44 20 8681 2680

E-mail: jeng@ascentresources.co.uk



David Steinepreis

Chairman

Telephone: +44 7913 402 727

E-mail: dcs@ascentcapital.com.au


Appendix



The following additional information is given pursuant to paragraph (f) of
schedule 2 of the AIM Rules:



Current Directorships



* CDS Oil & Gas Group plc;



* Petro Swiss Limited



Directorships held within the previous five years



* WPN Resources Limited








This information is provided by RNS
The company news service from the London Stock Exchange
END

ACQUAAURVSRORAR

This share is obviously very tightly held. Now up 47%.

AST has more than doubled in 1 month,new acqns. etc.,any views.