.

Worth a read :

http://www.ibtimes.com/articles/96738/20110102/oil-natural-gas-crude-futures-2011-outlook.htm

.

http://www.oilandgasinsight.com/file/94919/ascent-sees-significant-gas-potential-as-it-focuses-on-peti351ovci-lovaszi.html


Ascent Sees Significant Gas Potential As It Focuses On Petişovci-Lovaszi

December 2010 | Project News

Ascent is betting all its chips on the Petişovci-Lovaszi unconventional gas deposit, the successful realisation of which could reduce Slovenian and Hungarian dependence on Russian gas.
UK-listed Ascent Resources has spudded an evaluation well in a Slovenian prospect after having substantially boosted its stake in the project to 75%. The successful development of the project could change Hungary and Slovenia's energy outlook.

Ascent reported on December 22 2010 that it had spudded the Pg-11 tight gas evaluation well at the Petişovci-Lovaszi project area, targeting Miocene-era gas reservoirs. The evaluation programme includes core sampling, wireline logging and testing. Ascent expects the well to be completed as a producer and to become cash flow-contributive in the 'medium term.' Preliminary results are expected in February 2011.

The Petişovci-Lovaszi area straddles the Hungarian-Slovenian border. In October 2010, Ascent stated that a report by RPS Energy put the Petişovci-Lovaszi P90 estimate at 5.7bn cubic metres (bcm) and the P10 estimate at 23.6bcm. Ascent has estimated that around 50% of the tight gas in the Petişovci-Lovaszi area can be recovered and believes existing infrastructure links in the region, coupled with good gas prices, make it an attractive development candidate.

Given the importance of this asset to Ascent, the independent has spent much of 2010 disposing assets and raising cash towards its development. Most recently, on December 21, UK-listed independent EnQuest agreed to sell its 48.75% stake in the project to Ascent, in exchange for a 22.5% equity stake in the latter. EnQuest has agreed to provide technical support to Ascent for the project's execution, and will benefit should commercial quantities of gas be successfully produced.

The latter scenario would be a positive boost to both Slovenia (whose own gas needs are modest) and Hungary. Budapest is heavily dependent on Russian gas imports and, like most of its fellow eastern European neighbours, is keen to reduce its dependence and boost 'energy security'. While there has been rising investor interest in shale gas in Poland, Petişovci-Lovaszi is one of the few other exciting prospects for CEE unconventional gas.

Strong start.

L2 presently 2 v 1 @ 9.25/9.75

Just SING on the offer at 9.75p

Have a listen to Jeremy Eng talk about AST :

http://www.proactiveinvestors.co.uk/companies/ceo_focus/630/jeremy-eng-md-of-ascent-resources-talks-about-shallow-oil-reserves-in-italy-630.html


Jeremy Eng MD of Ascent Resources, talks about shallow oil reserves in Italy

Tuesday, January 04, 2011

Jeremy Eng, MD of Ascent Resources, talks about shallow oil reserves in Italy, three discoveries in Switzerland, FTSE 250 EnQuest PLC disposing of its 48.75% stake in the Petişovci Project in Slovenia - for an initial 22.5% equity stake in Ascent, and Hungarian assets generating 600,000 gross a month.


.

Bought into AST today... looks a good bet. entirely agree with you, pros.

10p seems to be an interesting area - both S & R.

Yes, I saw that. If it doesn't clear 10p with some impetus, then it would be cause for concern from a charting point of view.

Appears AST was rated a buy in todays Shares Magazine.

http://www.sharesmagazine.com/

Good, that should see more buyers today, tomorrow and also Monday.

Yep, Shares Mag said buy at 9.5p, well its a little cheaper than that at the moment.... must make it strong buy then ;) LOL

Think everyones fixated on RRL this morning Prose trades going crazy, once things quieten down they might turn to AST then??????

Should be just a couple of weeks now for initial drill results ?

Should be just a couple of weeks now for initial drill results ?

Should be just a couple of weeks now for initial drill results ?

http://www.proactiveinvestors.co.uk/register/event_details/104/

The directors of

Ascent Resources (AIM: AST)
Chaarat Gold (AIM: CGH)
and African Queen Mines (TSX-V: AQ) will be presenting:

Thursday the 31st March 2011,

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. Details on the presenting companies can be found below.

Ascent Resources (AIM:AST)

Ascent Resources (LSE:AST) is an independent, multi-project, European focussed oil and gas exploration and production company. Its portfolio is balanced providing access to low-risk development and revenue generating production projects, alongside exploration projects with the potential for higher returns. An experienced management team, implementing a defined development programme on primarily onshore projects, provides Ascent with a solid platform to grow and generate value for stakeholders. Ascent has interests in Hungary, Slovenia, Italy, Switzerland and The Netherlands.

Down again - surprising I was expecting a nice upward trend in the new year. Any thoughts???

Back up again! just waiting for news now......

sp drifting downwards, news needed.

Strong recovery today.

News coming very soon ? ;)

Yes very strong rebound from last few days...could be something in air????

Hopefully its gas in the air..... ;)