.

Market tighter now, can buy just 125K now at the full 8p, or sell 500K at 7.71p.

Someone wants your stock, as there must be a buyer in the background and they are trying to work their buy order.

Market a bit tighter again presently you can :

Buy 100K at full 8p
Sell 300K at 7.76p

Ignore L2 and the MM's "advertised" prices at the moment.

As its now Tuesday the 20th, I would expect news on PEN-104AA at any time from today to next week Tuesday.

Just got to keep them fingers crossed for good news when the RNS comes out. PEN-104AA has some serious upside potential in terms of size of reserves.

Demand is there today.


You can buy max 125K on line at 8.35p

You can sell 350K at 8.05p


L2 3 v 1

WINS/CANA/LIBC bidding at 7.75p advertised and just SCAP offering at 8.5p

Proselenes, thanks for keeping us up todate,been a little tied uo lately.
cyril

cyril.

Rumours from Hungary say PEN-104AA is good, on testing now and we will get news end of this week or early next.

Also Fontana-1 appears to be going to spud 1st week of November.

Some media attraction might liven things up tomorrow. If PEN-105 is the 10Bcf its hoped for, and 104-AA comes in with another 8Bcf to 10Bcf (potential is there based on the 3D seismic) then things will be very good going forward for Ascent with production at decent rates for some years. All we want is the AST RNS to say "significant" or "substantial" in relation to 104-AA results.

http://business.timesonline.co.uk/tol/business/markets/article6884806.ece

"........Rumour of the day

Shares in Ascent Resources eased 0.38p to 7.88p, but could start to generate some positive interest this month. The word in the Square Mile is that the AIM-listed oil and gas exploration and production group is about to report some encouraging drilling results from its Hungarian wells. The company also has assets in Slovenia and Italy...................."

L2 presently 2 v 1

LIBC/WINS bidding at 8.25p
CANA offering at 8.5p


On line you can buy MAX just 25K at the full 8.5p
You can sell 100K at 8.35p.

So background demand is strong.

Post from OJ over at Investors Village. In bold is a DXE release just out, with OJ comments at the bottom.


Recent Developments

Hungarian Exploration Interests

In April 2009, the Corporation, through its 37.5% owned indirect subsidiary, PetroHungaria kft, completed and tested the PEN-104A sidetrack of the PEN-104 gas well. The well came onto production April 29, 2009 and has produced

approximately 500 MMCF to the date hereof, in addition to the 500 MMCF produced in the original PEN -104 well. PEN-104A has been suspended in favour of deepening the wellbore to 1,358 metres total vertical depth to test a natural gas target in the Miocene volcaniclastic section.

In September 2009, the Corporation, through PetroHungaria kft, concluded the drilling and initial completion operations on the PEN-105 well in the Peneszlek area of northeast Hungary. The well was drilled to a depth of 1,487 metres to test a structure which tested gas from the base of the Miocene volcaniclastics in a well drilled in 1982. Nine metres of reservoir were perforated over three intervals in the target formation at PEN-105 and all three zones flowed gas, two with condensate.

Permitting of the pipeline that will be used to bring the gas to market is underway and construction is planned so that gas sales from this well can commence early in 2010.

In August 2009, the Corporation participated as to its 12.5% working interest in the Gorbehaza #1 (“GH-1”) well in the Panhandle region of the Corporation’s Nyirseg North permit. GH-1 was drilled to a depth of 1,300 metres and was successfully completed and tested. GH-1 encountered two Pannonian gas bearing sand reservoirs totalling 5.75 metres and the stratigraphically lower zone of the two has been completed. The shallower sand will be completed and put on production once the lower zone has been depleted. GH-1 is planned to be tied-in to the third-party-owned Hajdunanas Gas Production Facility 2.5 kilometres to the north.

The Corporation intends to drill, complete and tie-in between two and four wells in Hungary with a portion of the net proceeds of the Offering. The wells intended to be drilled include some combination of the following: PEN-101, PEN-106, GH-2, GH-3, GH-5, and a PEN-9 offset.

See “Use of Proceeds”. Notice is says Gh-2,3,5....do you think they believe we are sitting on a major gas find.....??? Oh yeah they do.

pp what does all this mean in earnings for AST?

more sell than buys ,tried to sell @9p did not succeed ,9% increase in price one day without rns .on low vol and more sells than buy .it has to move oneway or the other in a few days my guess hope its up

halifax, it means AST should be generating over 20 million US$ of revenue on an annualised basis by mid 2010.

And more by end 2010, and more in 2011.

Very nice :)

Is there any truth in the rumour that PC has been reducing his holding, presumably it's under 3%, so no need for an Official Note......anyone...?
EDIT (26Oct09)-Thanks P- any ideas why he'd sell justa s things are getting exciting, perhaps he'd bought high(40p+) and got fed up. 'tis what I do.
So far, I'm in profit - phew.

He went below 3% months ago and notice was on RNS too, sold most in the 5p to 7p range.

Proselenes,once again thanks for your posts,looking inteesting for next week?
regards
cyril

There should be a meeting between Otto Energy and Ascent Resources soon, to discuss the Po Valley region of Italy. Although Gazatta-1 was a duster, it was the largest of two "drill ready" status leads on the license area, based on very old seismic data/AVO.

However, there are many other "leads" on the license area, which is quite large, and some potentially larger than what G-1 was thought to possibly be. These new leads need new seismic and more work to get them to drill ready status if possible and its good to see Otto Energy in their report out Monday saying they are keen to keep on with the Po Valley region. The benefit for them of course is using the Ascent part owned rigs for very good drilling prices, which make the risk/reward ratio much more palatable. They must have been "happy" in some ways that Gaz-1 was drilled on time and below budget by the AST part owned rig. So perhaps some seismic in 2010 and another drill end 2010/2011 ? Writing off the whole value of the Po Valley license on the Gaz-1 failure was irrational, but the markets are and that is what the market did, but now perhaps we soon might see some of that potential coming back into the price as time goes by.

The link to the recent Otto release :

http://www.ottoenergy.com/IRM/Company/ShowPage.aspx?CPID=1378&EID=13573322&PageName=Annual%20report%20to%20Shareholders','Annual%20report%20to%20Shareholders

And the comment in it is :

"Elsewhere, in Argentina and Italy, our wildcat exploration programme
was unsuccessful in finding hydrocarbons. It is likely that we will exit
Argentina. Our plans to continue exploring in the highly prospective
Po Valley in Italy are still being formulated having consideration to the
hydrocarbon potential, cost of exploration, the market for gas and in
context of Otto’s other business opportunities."

Interesting post by OJ at IV, especially about 104-AA being commercial.


http://www1.investorvillage.com/smbd.asp?mb=12050&mn=5387&pt=msg&mid=8112873


.

Interesting news on fontana spud,also no news on Pen104AA so semms a positive(p&aed would have been annouced)sign?

Fontana-1 Drilling Commences




Ascent Resources plc, the AIM-traded oil and gas exploration and production company, through its wholly owned subsidiary Ascent Resources Italia srl ('ARI'), has commenced the drilling of the Fontana-1 well which is designed to appraise the shallow part of the Anagni structure in the Frosinone Exploration permit in the Latina Valley.




The drilling is planned in two phases; the first phase will drill an 8-1/2" hole and set 7" casing at approximately 300m, the second phase is designed to drill and recover cores (geological samples) from this depth to the total depth of the well.


* * ENDS * *
cyril

The delay of PEN-104AA news is in my view very good news. It must mean, I feel, that they are doing "volumetric" testing know to work out the size of the gas pocket. You cannot do this once the well is on production, and they said it would be back on production in a month, so they must now be doing volumetrics to work out the size and production life time. This would mean they have found something of decent size.

We might even get PEN-105 volumetric news with PEN-104AA volumetric news.

So no we just await them to finish testing and working out the size, and then put it back on to production and let us know the results, IMO :)

Should be a strong run next week, or starting tomorrow if the news is tomorrow).

We have another "substantial gas reservoir" in PEN-104AA :)

http://www.investegate.co.uk/Article.aspx?id=200911020700067337B

.