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You might as well say the same for HAWK, FRR, AEX, and a lot of others....to me this looks like IVE.....where I got my fingers burned !, I think Rift Oil has a lot more to offer ! and that has made 2 sizeable discoveries (gas) !.

Doesn't RIFT need money to get to production though, AST and HAWK are well funded and both producing something at least, with more to come in the near term

I would not say AST is well funded, they are a going concern with production and should not need any funds to continue operation.

This "tight cash" is why the price is so very low, along with an institutional seller for the last many months.

However, AST has a couple of real blue sky assets in there, and one of them will be drilled in Q1 2009 (being Gazzatta in the Po Valley, Italy). If commercial a mean find would be worth net to AST, tax paid gas in the ground circa 33p, anything less being less and more being more.

So, quite exciting prospects for AST, especially with this new deal with SS where they deal with investing their money, and take a cut in production cash and equity.

More exciting than most other junior oils, simply as the upside is so much bigger in potential.

Major Points about the pending (Q1 2009) Gazzata well in the Po Valley. Although Otto planned to fund the drill from Galoc production as mentioned in the link, Galoc did not come on to production until earlier this month, so the Gazzata drill had to be delayed from its original plan in 08 to Q1 2009. But such delays are part and parcel of O&G stocks. Up to 1Tcf of gas, and also should Gazzata-1 hit a large commercial find, then Otto will pay 100% of the second well too.

This is quite a major well coming for little old Ascent, in terms of transforming the company. The upside is significant, anywhere from 30p to 100p a share, the downside at the present price is limited due to the production assets and all the other assets they have.




From the Farm-In announcement by Otto Energy into the Po Valley :

http://www.oilvoice.com/n/Otto_Energy_farms_Into_Large_Onshore_Exploration_Acreage_in_the_Po_Valley_Italy/1c933b85.aspx

Otto Energy farms Into Large Onshore Exploration Acreage in the Po Valley, Italy

Otto Energy announces that it will acquire 50% of the Bastiglia- Cento Exploration Permits, in the Po Valley of onshore Italy, from Ascent Resources plc.

Highlights

The two adjacent Bastiglia - Cento Exploration Permits are considered highly prospective with multiple hydrocarbon prospects and leads already identified

The first well, Gazzata-1.............. targeting prospective gas resources of over 100bscf equivalent to potentially over A$200 million in value to Otto.

Minimum commitment for Otto to earn 50% in the two permits is approximately A$10 million and in the event of a significant commercial gas discovery in the first well, Otto will also fund 100% of drilling and testing of a second well.

Commenting on the announcement Alex Parks CEO of Otto Energy said:

..................The Bastiglia - Cento Exploration permits are considered to be highly prospective and relatively low risk. The Gazzata prospect alone could be worth up to A$200 million to Otto in the event of a commercial discovery, and there is significant follow up potential in a variety of different play types, some of which could hold up to 1 TCF gas resource potential.

Hungary comment, click HERE

As a large chunk of AST is/was/has been in the RAB Energy Fund (most people think its been them selling for months now and forcing the price down), this news may mean the seller is now not so distressed....


http://www.investegate.co.uk/invarticle.aspx?id=64458


RAB Capital slams gate on energy fund
By Barney Hatt

Hedge fund firm RAB Capital has stopped investors cashing out of its Energy fund, which has .................................

New audio interview to listen to here 3rd Nov 2008 :

http://www.proactiveinvestors.co.uk/companies/news/3349/ascent-resources-audio-interview-3349.html


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Certainly being driven by buying pressure, not just MM's rising it as they try to fleece people in good market sentiment.

If our seller has stopped selling, there is no reason why this cannot continue to rise back to much higher previous levels where people thought it would not fall anymore.

Not many junior oil companies have production to keep the cash coming in, but with such very good prospects that multibagging is possible, and not the rampers type, the very real type that makes them potential jewels.

Interview with J. Eng!

Click HERE

Nice

Nice again.

Paul had a meeting with management, at which I think EK also attended.

His brief summary is on TMF :


http://boards.fool.co.uk/Message.asp?mid=11314479


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As a recent holder, it would be nice to think the sp might rise to 1.50 - the jist of the "fool" link Proselenes gave.
However, I cannot believe that a share that's just 2p-ish with the knowledge in the public domain (ie the prospect is known), could ever reach such dizzy heights based on real economics.
Some of the current price is fear - that stocks will get worse...and some is hope this one will improve.
Anyone buying today will certainly Sell when it reaches 20p ( 10-bagger), and this will be the pattern right up to 1.
The only prospect for 1++ is that it's a quick movement (ie before any sellers have started dumping), then one or more large-holders will dump a big Block and that will scupper the 1 region; maybe to something above 50p as the Market stalls wondering which way to jump.
(I shall be pleased if AST reaches 30p)-and better-still, if there is Dividend prospect.

From AFN thread :



bobobob5 - 19 Nov'08 - 14:49 - 24717 of 24717

Listen carefully. Listen *very* carefully.

1. Ascent are working on improving the presentation of the company; this will include an updated website and a newly-structured Investor/Corporate Presentation format

2. Ascent intend to emphasise their significant short-term drilling programme, which includes potential company-making prospects, in order to sharpen investor focus and get away from the 'shopping list' situation in which the 20+ portfolio items cause many people's eyes to glaze over

3. Ascent does not, repeat not, have a short-term funding problem

4. the Managing Director of Fox-Davies Capital has just written to all Ascent shareholders (three letters from him arrived on my desk this morning) offering information on Ascent Resources to investors; I think we can expect some analyst coverage before too long.

but imho DYOR etc as always

I'm not impressed by "improved presentation" and similar - it seems to me that plain good news is what is needed. The sp shows that initially they provided lots of "feel-good" and this has run its course.....no amount of more "touchy-feely" will sway shareholders in these Markets.

However, figures of product flow, and so on would be quite nice. Maybe some pain for Directors would help, until there's some return by way of a dividend...otherwise what is there?

Shareholders expect a web-site to be factual and therefore not dressed to thrill - indeed over-dressing it is not necessary - let's start selling the stuff for the benefit of retail shareholders.....that says more than good money spent on fancy graphics.

EDIT.(2Dec08).sp down today, under 1k sale. MM's game. Now 3.0/3.5p

New Otto Update (Partner in Gazzetta-1 drill (G-1) who are paying 100% of costs for a 50% farm in)

G-1 to spud mid to late January - 6 weeks to drill. Many additional targets in the block. Slide 30 onwards in the presentation link below

http://www.brr.com.au/event/54141

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PP we are going to have to report you to the RSPCA if you continue to flog this dead horse!

Its times like this that you can be glad that Ascent chose to be "GAS" orientated and not oil.

For while other companies get screwed over as the oil price falls, everyone knows that gas consumption remains the same, as its so nice and cheap for a variety of things.

So while the world uses less oil, it keeps using the same amount, and indeed ever increasing amounts of gas.

As people wish to cut back on electric bills, more and more will convert to using gas.

PP It's times like this when you can be glad you don't have Ascent shares, gas or not.

Over on the TMF PPP thread I have AST and RCG as my picks for the 2009 Annual Stock Picking Challenge.

50% AST and 50% RCG, with AST being the first one, so I have had to do, and have done a write up on AST.

Here is the link to the write up.

http://boards.fool.co.uk/Message.asp?mid=11379820

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