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Can someone translate this ?

From eCorp ref to Swiss drill, I would imagine its the start of the permit process back in August ?


http://www.merzligen.ch/uploads/media/Info_Erdgasbohrung.pdf

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OK, so the rig gets there November 2010 and they plan to complete drilling by end of 2010.

Jolly good !


A consortium consisting of Swiss companies PEOS AG, Weiach (90%) and the SEAG, AG for Swiss Langnau am Albis (10%) are pleased to announce that in Hermrigen in the same place as it was in 1982 with the Elf Aquitaine, a natural gas drilling Hermrigen-2 will be drilled soil.

The planning and execution of the hole lies in the hands of the PEOS AG (operator), a 100% subsidiary of the Texas EcoRP. International, Houston. The license belongs to the SEAG, which is also responsible for contacts with the Beharden and the population. The planning application runs under the name of the consortium.

The SEAG was founded in 1956 and belonged to - as well as the Bern Erthil AG, which was involved in the borehole Hermrigen-1 involved - to SWISS OIL group, from which they iibernahm after its liquidation all the research data. She keeps in 13 cantons of Switzerland concessions and cooperate with two foreign partners.

The Ascent Resources Plc, London in March 2010 was to partner in various Swiss concessions. She held up her rights fiber its subsidiary PEOS AG, Weiach. The Swiss PEOS AG at the time the well was drilled Weiach-2 in Canton Zurich and encountered gas-bearing rock, which allowed for its enormous density, however, not exploitation. The Ascent PEOS the AG to EcoRP International, Houston has sold. But it has really make in the event of a Hermrigen given the option to pay 45% of drilling costs to buy into the exploitation of society. Then the ratios were 45% EcoRP via PEOS AG, 45% and 10% Ascent SEAG.

The beginning of the EcoRP go to Houston in 1978 luminous image. The company specializes in unconventional gas and Gasspeichermtiglichkeiten campsite. It is activity in Texas, Pennsylvania, Mississippi and Alabama. Together with other companies they hold about 20% of Gasspeicherkapazitaten in the U.S.. Since 2009 she has been activity in Europe and has acquired, together with Switzerland, concessions or subsidiaries in France, England, Romania and Bulgaria. Studies are also underway for investments in Germany and Spain.

Why do we come to Zuriick Hermrigen? The hole Hermrigen-1 under the leadership of former Elf Aquitaine some technical problems had less to. The hole was deflected twice and finally reached the target zone before. It was natural gas found in great numbers, but the hole had Erdal was the target for natural gas and then rarely used. It was verfiillt as "not commercial.

Investigations of the geologists of the Ascent, the SEAG and now the EcoRP have shown that the area urn Hermrigen not only a structure (underground Aufw8lbung of the rock), but What is the bore Hermrigen-2 are different from the bore Hermrigen-1? Much, indeed almost everything!:

The well site is in the same place at the end of the drilling path. "The area far amounts to the actual well site only 90 x 90 meters, or about 8'000m2 in contrast to the multiple of the Elf Aquitaine. Far the access road, and the Absenkbecken Humusaufschiittungen be further used about 8,000 m2, so we expect a total area of approximately 16,000 m2.

The drilling time is planned for only 45 days which added a further 15 days trial period. Together with the construction of the well site and the restoration after drilling is budgeted at about 100 days total time. The overall financial budget betrligt around 10 million Swiss francs.

The drilling rig is the latest design is beta account volt hydraulic and caused it were not Lirm (60 decibels at 20 meters, which corresponds to a conversation thawed). The cycle of Wasserspulung is closed and the bars are no longer with fiber Getlise pulled up a ramp or lowered, but are in a sort of carousel arranged around the rotary head can be raised hydraulically and screwed. The carousel also prevents light escaping to the outside of the drilling platform and thus the drilling rig is not brightly lit. The rig is self-propelled and is marketed as a heavy load, but the roads to normal Hermrigen.

truck traffic occurs only hauptsfichlich wiihrend the construction phase and during disassembly. During the drilling phase miiss Dieseliil only for the encapsulated diesel engines and spare parts are placed on the well site.

We will work with the community develop a plan for traffic control of the onlookers, to protect the neighborhood streets.

After completion of the drilling is in Fundigkeitsfall a short pipeline to the nearest gas pipeline to the Gas Network country are built and to look at the well site, only an emerging tube with corresponding valves and a gas drying / cleaning system, but below the level Hermrigen, may be necessary . The latter is not included in the Planning application.

The local council in corpore and the civic community are as a country property Erin was fully informed. A first information meeting for all residents was held in January 2008 here. In June 2010 the District informed as zustindige of Behtirde and 5 July 2010 were submitted the application urn issuing a so-called "development permit" in the canton and the same day the planning application at the community Hermrigen or the government governor office Zealand. At the same time, the government governor office Zealand first informed and supplied with the necessary documents. As of August 4, 2010 Mull The appeal period of 30 days against the published planning application.

The rig should stand us in early November 2010 Vertligung, so that the works kiinnten be started after the agricultural season. If all goes according to plan, should reach the end of 2010 bore the final depth. Work is underway on a 24-hour operation with three shifts. A drilling crew works 12 hours and the crews to be replaced after 14 days. They are billeted with host / Men and surrounding Campingplfitzen.

In addition to high liability insurance, a tiberwachung by the District Plan and an alarm for all Eventualititen can be a high.

Perhaps why strong buying of late, perhaps the rig has arrived there and preparations are underway ?

well done for finding that info prose.. translation a bit gobblygooke!!

Yep but the salient points are "Rig in November" and "Drilled to TD by year end".

Looking at the situation, AST have sold the asset and have presently 0% direct interest.

Yes they have "back in rights" if they so wish on success but the direct ownership is presently 0%.

Would they be obliged to update the market ? Perhaps not ? They could in fact just let e-Corp get on with it and only update the market on success and if they wished to "back in" to the project.


Interesting, I do hope they do RNS the spud, but they might not have to if they do not want to.

Certainly if people do get a sniff that Hermrigen is being drilled they will be piling in.

150 Bcf potential reserves, zero cost to AST and if successful they can back in for 45% of the find for 45% of the drill costs.

Thats a lot of gas and would shoot the price flying upwards, so you can see why people will be buying in for this risk free drill by e-Corp.

yes your quite correct prose.. looking at volume last hour and half and looks like could be getting noticed!!!

Anyone else getting the impression Proselenes and grannyboy are the same person?

I DO NOT UNDER ANY CIRCUMSTANCES USE 2 USER NAMES to post on any forum.

If you are so intent on coming up with crap like this I suggest you contact MoneyAM and ask them to do an IP address check on myself and GB.

Go on, ask Ian to do a check or are you all mouth and accusation and no trousers with balls inside to back up what you say ?????????????


ptholden - 18 Nov 2010 21:01 - 481 of 481
Anyone else getting the impression Proselenes and grannyboy are the same person?

They pay 45% of the drill cost for a 45% share of possible 150 Bcf recoverable.

So they pay circa 4.5 million Euro's and potentially have 67.5 Bcf of gas.

I would say you can use a value in the ground of $3.5/mcf and then using this as a figure for any DCF model you could get say.

67.5Bcf x $3.5/mcf = Circa 236.25m US$ or 148.5m

500 million shares in issue so around 29.7p per share.


So, eCORP pay everything first with no risk or cost to AST, if its a success AST can back in for circa 4.5m Euros and get circa 30p per share uprating in the blink of an eye.


Not bad when your share price is 5.5p at the moment.

Slovenia is a potential company maker, as is this Swiss drill and so could be Anagni-2 in Italy, while PEN keeps cash flow coming in in the background.

Very good news. Old loan notes paid back and replaced with new ones. New financing options. Slovenia PG-11 to spud on a sole risk basis.

Bring it on now...... Slovenia and, fingers crossed, soon Switzerland as well.



http://www.investegate.co.uk/Article.aspx?id=201011190700094713W

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

19 November 2010

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

Secures Financing and to Commence Drilling of Petişovci-Lovaszi Project

Ascent Resources plc, the AIM-traded oil and gas exploration and production company, has secured a one year loan facility of 2.1 million and has entered into a 7 million Standby Equity Distribution Agreement ('SEDA') with YA Global Master SPV Ltd ('Yorkville'), an investment fund managed by Yorkville Advisors LLC. The loan facility will be drawn to contribute to the financing of the Pg-11 evaluation well on the Petişovci-Lovaszi project area in which the Company recently announced an independently verified P50 estimate of gas-in-place of 412 Bcf (11.7 Bm3; 68.7 MMboe).


The Pg-11 drilling location is now complete. Crosco is planning to mobilise its CR-1 drilling unit to the location next week and drilling will commence as soon as the rig is ready. This well has a number of important objectives and the evaluation programme, which includes core sampling and state-of-the-art wireline logging, is designed to collect sufficient data for development planning, as well as calibration of the 3-D seismic to optimise the geological modelling over the entire project area.

The one year loan facility can be drawn down following completion of certain conditions precedent, including (inter alia) provision of security over Ascent's interest in its Hungarian subsidiary. The loan carries an interest rate of 6% per cent. per annum, payment of which will be covered from cashflow from Ascent's existing production. During the term of the facility, Yorkville has the right to convert the outstanding loan balance into shares in Ascent at prices ranging from 8.4p-10.5p. The loan will be secured by a charge over Ascent's assets.

The 7 million SEDA facility can be used entirely at the discretion of the Company. Under the terms of the agreement, Ascent may draw down on funds over a period of up to three years in exchange for the issue of new shares in the Company. The shares issued by the Company will be at a 5% discount to the prevailing market price during the ten day pricing period of a draw down. The Company may also set a minimum price for each draw down. The maximum advance that may be requested is 200% of the average daily trading volume of Ascent shares multiplied by the volume weighted average price of such shares for each of the ten trading days prior to the draw down request.

Ascent's Managing Director Jeremy Eng said, "Pg-11 in Slovenia is an important well and whilst the main effort is in the evaluation of the Miocene gas reservoirs, we expect that it will be completed as a producing well and then brought into production as soon as possible. Yorkville has provided similar funding arrangements to Gulf Keystone Petroleum, Xcite Energy and San Leon Energy amongst others, and this facility has allowed us to minimise dilution whilst funding our near term work programme."

ptholden, can assure you proselenes and myself are not the same person. so onto business RNS out this morning ast to start drilling next week yipeeee!!! yes prose your figures look good....

It flows nicely now :

PG-11 spuds, PG-11 results, PG-11 results integrated into the 3D meanwhile Hermrigen-2 spuds, Slovenia data crunching continues and new farm out, Hermrigen-2 results, Anagni-2 permitting and drill, New Slovenia Farm out and drilling plans etc...


By March 2011 we should have a good PG-11 done and dusted and a new farm out deal done along with Hermrigen-2 drilled and perhaps Anagni-2 spudded.


What price AST stock ? Anywhere between 8p and 30p IMO depending on good luck or not.

yes nice timeline prose.. think you could be a tad conservative but still looks very promising..

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You should both find a room, perhaps you don't need to? Under your former alias of Papal Power you continually ramped crap stocks without success; the only difference now is you have stumbled upon some half decent stuff to ramp.

Methinks you doth protest too much, crack on lofty.

Typical of a liar, you do not even attempt to back up your false accusations you merely slide on like the snake you are.

I do one thing to people like you who lie, and thats add you to the filter list, and in you shall go.

Well done for publicly showing everyone your brazen ability to lie ! and goodbye !

Into the squelched posters list you go.


ptholden - 19 Nov 2010 11:04 - 489 of 489
You should both find a room, perhaps you don't need to? Under your former alias of Papal Power you continually ramped crap stocks without success; the only difference now is you have stumbled upon some half decent stuff to ramp.

Methinks you doth protest too much, crack on lofty

There you go, you now have similar companions in the squelched bin.

Users you currently have squelched

hilary
Master RSI
zscrooge
Balerboy
ptholden
ravey davy gravy
Master RSI

Anyway, back to AST.

Crosco doing the drilling for PG-11

http://www.crosco.com/index.php/drilling-services.html

Crosco did lots of "tight gas" drilling for Falcon in Hungary, so well experienced in whats needed.



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