.

I would suggest 6 to 9 months.

I got quite a few below 4.25p so was well happy with the price movement of yesterday, cannot complain.

Should be back over 5p once PEN-101 is done and ok.

Then we look forward to perhaps drilling a couple of shallow 10 Bcf gas targets in Slovenia (extension area) to start with, news from the ongoing 3D work being done, farm out of the Swiss Hermrigen appraisal well with firm drill plans, and Anagni-2 "oil appraisal well" maybe end of this year.

Super deal, with options to farm in "post discovery" with no obligations.

Well done JE/SC/MG and the others !!


http://www.investegate.co.uk/article.aspx?id=201004220700125915K


Ascent Resources plc / Epic: AST / Index: AIM / Sector: Oil and Gas

22 April 2010

Ascent Resources plc ('Ascent' or 'the Company')

Sale of Swiss Subsidiary to eCORP Europe International Ltd. for 8 million with Retention of Farm-in Rights


Ascent Resources plc, the AIM-traded oil and gas exploration and production company, has sold its 100% owned Swiss subsidiary, PEOS AG ('PEOS'), to eCORP Europe International Ltd. ('eCORP'), for a cash consideration of 8 million, together with various farm-in options on certain potentially successful discoveries ('the Transaction').


Overview

Cash Consideration: Sale of PEOS for a cash consideration of 8 million: 5 million payable immediately, with 3 million payable on completion of agreed commercial conditions

Additional Consideration: Option to participate in potential upside from any discovery:

o Ascent retains right to acquire 45% of any conventional discovery from the Hermrigen 2, Essertines 2 and Linden 2 appraisal wells by paying 45% of drilling costs post any discovery - with no obligation to participate

o Ascent retains right to 22.5% of any discovery from certain additional conventional prospects by paying 22.5% of the drilling costs post discovery, again with no obligation to participate

eCORP irrevocably committed to drill the Hermrigen-2 appraisal well - permitting underway for drilling in Q4 2010

Swiss projects estimated by Tracs International to contain gross contingent conventional resources in excess of 600Bcf of gas

Deal validates strategy of developing a diverse European portfolio of oil and gas projects and underpins the significant value of its assets across the portfolio

Jeremy Eng Ascent's Managing Director said, "This is an outstanding deal. We have realised 8 million from our investment in our Swiss assets, retained without obligation the opportunity to participate in any production opportunities from conventional reservoirs and completely removed the funding risk for these projects. This validates the time and resources devoted to our portfolio approach of developing oil and gas assets across the whole continent of Europe. Importantly, in this instance, we have achieved a far stronger result than working within a traditional farm-out partnership structure.

"We have some very strong projects within our portfolio, some in production, some of which will soon be in production and multiple projects where we are looking to add value through defined exploration and appraisal. The additional funds will be used to expand our intensive work programme across our portfolio, which includes our drilling and production programme in Hungary, the exciting prospects of the Anagni-2 appraisal well in Italy, alongside further drilling and exploration work scheduled in Slovenia. Furthermore, having retained the farm-in option with PEOS, we can also look forward to additional activity in Switzerland and the possibility of confirming the presence of a sizeable reserve."

Under the terms of the transaction Ascent has disposed of all of the equity of PEOS, which held the Company's beneficial interest in various permits in Switzerland including a 90% beneficial interest in the Hermrigen, Linden and Gros de Vaud permits (with the remaining 10% retained by Swiss joint venture partner, SEAG), and a 35% interest in the Concordat permit. The consideration is 8 million - of this, 5 million will be immediately payable to Ascent, with a further 3 million on the completion of commercial conditions agreed with eCORP. Since 2005, Ascent has actively developed and marketed the Swiss assets. The Board believe, from the evaluation work conducted by Tracs International in 2007, these permits could contain circa 600Bcf of conventional gas.

As part of the Transaction, eCORP has irrevocably committed to drill the Hermrigen-2 appraisal well prior to October 2011, however it is expected that site operations will commence in the fourth quarter of 2010 subject to permitting. Management estimate gross contingent reserves of potentially 150Bcf in the Muschelkalk and Bunter layers of the Hermrigen prospect. eCORP will fund the entire cost of the Hermrigen-2 well and if successful, Ascent has the retrospective right to participate by paying 45% of the conventional well cost to earn a 45% interest in the conventional discovery. Ascent has no rights to any unconventional gas development or gas storage project should it be undertaken by eCorp. Ascent retains the equivalent rights for the appraisal of the Essertines 1 and Linden 1 appraisal wells should eCORP elect to drill these prospects. Should eCorp elect not to drill these wells Ascent retains the option, subject to certain conditions, to fund their development in its own right.

Additionally, Ascent and eCORP have identified a further three prospects in the licence areas held by PEOS. Should eCORP elect to drill these additional prospects, Ascent has the right to 22.5% of any successful conventional discovery by paying 22.5% of the drilling costs post discovery. Again, should eCorp elect not to drill these wells Ascent retains the option, subject to certain conditions to, fund their development in its own right.

eCORP's CEO John F. Thrash commented, "eCORP is pleased to have the opportunity to control the operations of PEOS on these permits and work at an enhanced pace to bring much needed gas resources to Switzerland through a combination of conventional and unconventional gas development, alongside the potential construction of underground gas storage facilities."

This company that purchased the Swiss assets appears to like "unconventional gas plays" and well, that is AST down to a "T".

I can therefore in time see this company buying out AST in full, they can get their hands on Bajsca, Slovenia and Hungary gas, as well as small stuff like the Po Valley gas project.

It would explain the AST director putting nearly 1M pounds into shares in the company recently as well. Must be looking at a "company sale" 12M to 18M down the line.

I would see this deal as a "starter" to get Angani proven or not. It would be the bugbear in the valuation as AST would want lots for it but nobody will buy it until proven or not.

So this cash injection now allows AST to easily prove Anagni or not. They can sell it or dump it then.

This company also benefits from buying back the potential buy ins, therefore voiding them.

So I see the rumours of a company sale picking up some steam and some backing today, all this 3D work is firming up pricing for sale perhaps, perhaps in 12 months we will see a real return of a nice lump of cash per share :)

20p a share, or maybe 30p if A-2 comes good ??

Patience, all that is needed for the big gains, let the traders and short terms sell and wait for the big gains, the ones they always miss :) !! ;)

The last I was in a small AIM stock were a director stuck in 1M pounds was OSH at 10p, and 12 months later the company was sold for 95p a share. I think we might see something similar here at AST.

Let's hope this is the start of something - AST has been sidelining for quite some time.

Extract from 2005 below when they farmed into the Anagni area, and guess what, AST did find oil in the Carbonates and now perhaps you see why they said "IMPORTANTLY" in the recent RNS they found a second "THRUST".

So their plan of 2005 was to find oil in the THRUST CARBONATES of the Anangi area - well stone the crows, they are doing just that.

:

http://www.investegate.co.uk/Article.aspx?id=200507190715000235P

"..........The Company will refund 350,000 of past exploration costs to Pentex. The exploration targets are the Apennine Thrust Carbonates similar to the southern Apennine's fields of Monte Alpi, Tempa Rossa and Cerro Falcone where some one billion barrels of recoverable oil have been discovered in the past 17 years.........."

From the RNS of the 19th April

".......The Fontana well, was permitted and drilled as a geological appraisal well to collect cores from the carbonate platform identified while drilling the nearby
Anagni-1 well. The target Carbonate platform formations have been found over
300m shallower than in the original Anagni-1 well. At the planned Anagni-2
location, it is expected that they will be even shallower still at an estimated
300m below ground level. Importantly, the Fontana-1 well have confirmed the
presence of a second thrust formation within the complex geology of this region. ......"

http://www.hbmarkets.com/stock-research-prices/small-cap-flash/read/

22nd April

Ascent Resources (AST, 4.25p, 21.9m) has announced an excellent looking deal for the disposal of its non core Swiss assets to eCORP. Cash Consideration: Sale of PEOS is 8 million, with 5 million payable up front and a further 3m on completion of commercial conditions. The attractive part of the deal though is Ascents ability to buy back into the projects on a heads up basis (i.e. a share of the project equal to the cost participation). Ascent has the right but not obligation to acquire 45% of any conventional discovery from the Hermrigen 2, Essertines 2 & Linden 2 wells by paying 45% of drilling costs after any discovery. The company also has the right to participate in 22.5% of certain additional conventional prospects on a similar heads up basis. eCORP is committed to drill the Hermrigen-2 appraisal well and permitting is underway with Q4 targeted. The Swiss assets are estimated by Tracs International to potentially contain gross contingent conventional resources in excess of 600Bcf. This is an excellent deal for which completely de-risks none core assets from the point of view of Ascent whilst maintaining exposure to upside, a win, win. After an unjustified poor run in the shares we would expect this to be reflected in the price. SPECULATIVE BUY

As people are asking.

GH-1 (CM-1) on the Panhandle was drilled some time back, commercial find was made and it is waiting to be connected to the gas processing facilities. AST has a share of this.

GH-5 (CM-5) AST decided not to participate in, the other holders took up the AST percentages and drilled (what turned out to be a duster). So it looks like AST made the right call by not going in for GH-5 participation.

Also it says gas price for Hungary in 2010 is expected to be around 10 US$.



Start of drilling 9th March 2010 :

http://www.cisionwire.se/ext/swede-resources-ab/swede-resources--borrstart-av-gorbehaza-5-ungern

Swede Resources AB

March 9, 2010 09:35 CET
Swede Resources: Start of Drilling Gbeha-5 Hungary


CM-5 is located four kilometers southwest of the GH-1 which was drilled in August 2009 and was declared commercially recoverable.
CM-1 as the production test flowed 3740 mcf will be linked on the 2.5 km long pipeline will be constructed. The pipeline will be connected to Hajd Gas Production Facility, where the condensate will be recovered and the gas sold by the Hungarian gas network. It has allowed the construction of the pipeline to get the oversized for the amount of gas to be transported through it.

Swede Resources has a holding of 0.991% of the CM-5 other partners HHEA 49.505% (operator), JKX 49.505%.


------------------------

Water found :

http://www.swederesources.se/

28th April 2010

Gbehaz5

With regard to the drilling of Gbehaz5 will show that the production test the well water network and is not commercially recoverable. The operator is looking at possibilities of using the CM-5 injection well for saltwater.

Saltwater always produced in varying quantities in gas and oil production and have taken care of this water is very aggressive.

Partners of the CM-5 are:

Hungarian Horizon Energy 49.505% (operator), JKX Oil & Gas 49.505% and Swede Resources 0.991%.

........In 2010, expect the revenue from Hungary will be based on a gas price of approximately $ 10/mcf.


.

Update on AST's North Sea (Dutch) area.

Mclaren Resources (partner) March 2010 presentation gives details on pages 15,15,17,18,19 (link is below)

http://www.mclarenresources.com/images/uploads/McLaren%20Resources_Pres_English_March2010.pdf

.

New Presentation Out.

http://www.ascentresources.co.uk/system/files/35/original/Presentation_May4_2010.pdf

.

The Daily Express said AST was up on Friday on "hopes of a positive drilling update from Italy".

I think they must mean from Hungary, so I guess we are going to get good news from PEN-101 this coming week.

http://www.investegate.co.uk/Article.aspx?id=201005110700046633L

PEN-101 Completion


TIDMAST

RNS Number : 6633L
Ascent Resources PLC
11 May 2010


PEN-101 Completion

Ascent Resources plc, the AIM-traded oil and gas exploration and production
company, through its subsidiary PetroHungaria kft, has successfully completed
the PEN-101 sidetrack, part of the Penzlek Project, in the Nys exploration
permits of eastern Hungary.

The PEN-101 sidetrack will produce gas from the Miocene tuffaceous gas
formation, the target of which was defined by 3-D seismic in 2008. The well was
originally drilled in February 2010 to a total depth of 1,500m, however during
completion an acid stimulation treatment had broken through a repair to the
cement isolation behind the steel casing and allowed water production from a
deeper formation.

The sidetrack was drilled to overcome this problem and the well has now been successfully completed and perforated, with gas flowed on a short test. Once the rig has been demobilised from the location, the PEN-101 well will be acidized and connected to the adjacent production facility where the PEN-105 gas is already processed.

Free investor event
-------------------


The directors of Ascent Resources (AIM: AST), Central China Goldfields (AIM: GGG),
Avalon Rare Metals (TSX: AVL) and Metals Exploration (AIM: MTL) will be presenting:


Chesterfield Mayfair Hotel, 35 Charles Street, Mayfair, W1J 5EB


The presentations will start at 6:00pm and finish at approx 8:00pm.

After the presentations are complete the directors will also be available to take questions
during a free canapand wine reception, offering the rare opportunity to chat to the CEO's
and network with other investors in an informal atmosphere.


Free Registration - http://www.sign-up.to/signup.php?fid=2046&pid=7163


This event is suitable for the following:

Sophisticated & private investors, private client brokers, fund managers,
financial institutions, hedge funds, buy & sell side analysts and journalists.


These are wonderful events in a superb setting, and well worth attending.


The nearest tube stations are Green park and Bond Street.

20th May 2010???

A good set of results with very good detail on all the projects.

Things looks solid and exciting going forward.

http://www.investegate.co.uk/Article.aspx?id=201005180700070772M

.

New presentation out.

Direct link to PDF below

http://www.ascentresources.co.uk/system/files/42/original/AST_One-2-One-May_2010.pdf?1274384450

.

Comment from bob over at ADVFN, and he will not mind it being copied over. He attended the presentation being given and provided this feedback.



"bobobob5 - 21 May'10 - 00:42 - 15335 of 15384

OK, here's the feeedback.

AST presented last, following three mining companies.

JE and SC did the presentation as a "double act", with much of the presenting being done by Simon. It worked really well, and a number of people made positive comments to me afterwards.

The presentation was new; I believe that the company had discussed "what matters to shareholders" with a number of substantial investors, and had taken account of that in their presentation, which was focussed on the near-term and the upside potential.

I'm sure that the presentation will appear on the AST/Proactive website in due course so I'm not going to try to describe it on here in full. In essence, they opened with the comment "We think we are undervalued too!" and outlined the Slovenia programme, gas production at Pen and the Panhandle, drilling in Switzerland and also at Agnani.

There was no material "new" information that hadn't been released in RNS (nor should there be) but a couple of points worth noting are:

* Hermrigen is being drilled using the low environmental impact 200T Perazzoli rig (as some of us had suspected)

* Fontana-1 was drilled just to the south of the main structure

* Agnani-1 was drilled just off the structure

* Agnani-2 is targeting a formation some 500m below surface

* the Ripi oilfield is some 400m-600m below surface

* Ripi, Agnani-1 and Fontana-1 prove the presence of oil

They presented a very impressive "build-up" slide which gave the estimated "risked" net asset value of the near-term portfolio assets as assessed by Fox Davies Capital and Astaire Securities.

This gave a figure of 20p per share.

The company made it very clear that it considers the current share price to be out of kilter with the value of the assets.

In response to questions, the company said that:

* "market sentiment is against us" and that this needs to be corrected with positive results

* it was "very confident" of no placings in 2010

All in all, it was the best presentation that I've seen them give.

After the presentation, I established from various company connections that the true situation regarding selling by Tiger and Bruce Rowan remains unknown. I am hoping that there will be an announcement before too long that both Pen wells are on production, so fingers x'd for # 101 (there is no reason to think that there should be a problem with it).

but imho DYOR etc as always"

In this one at a loss....mirror image of RKH ?.....loads of news about getting nowhere.....sp just drops....will end up sellng out unless something good happens here....

rf results count bs counts for nowt unless of course you had brains!

I'm in this and I've forgotten how....the sp will just not get going, but then again : same for Afren and loads of others that I have...need a turnaround in the markets and not just up one day, down the next, sort of thing...