June 2008 Presentation : Link here

March 2008 AST Write Up : Link TMF Post Ascent Article Archive Folder : Link to AST archive folder

Detailed Info on Italian Prospects : Link to post 2 (Explo.)

Detailed Info on Swiss Prospects : Link to post 3 (Explo.)

Detailed Info on Spanish Prospects : Link to post 4 (Prod. + Explo.)

Detailed Info on Dutch Prospects : Link to post 5 (Explo.)

Detailed Info on Hungarian Prospects : Link to post 6 (Prod + Explo.)

Detailed Info on Slovenia & Gabon Prospects : Link to post 7 (Explo.)



Web Site : http://www.ascentresources.co.uk

Email : info@ascentresources.co.uk

Sign up for email news alerts here : Click Here


Oil and Gas Guide for those who want to know more : Link to PDF file

A very good write up on TMF :

http://boards.fool.co.uk/Message.asp?mid=10980324


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How much cash do this company have left? What is their cashburn?

A poster from AFN (Spangle93) has kindly done as estimation at a valuation for AST.

The file (Excel) is in the Ascent Archive Web Folder, for download.

http://www.esnips.com/web/AscentResources/


This is an opinion of one poster, if anyone has any comments or suggestions, please feel free to air them.
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An interesting fact to know would be how much lets say the Po Valley drill in H2 will make for AST.

Not in the sense of gas finds, but in the sense that the drill is 100% paid for by farm in partners.

They will use the Ascent Drilling JV rig.

Therefore, of the payments made by the farm in partner, some of this will come back to AST in terms of revenues for use of the Ascent Drilling JV rig.

So not only does the Po Valley, and also likely Swiss Drill cost nothing, they actually make money out of it through the Ascent Drilling JV.



Will be interesting if anyone can get some info on what the likely revenue share is to AST for the Po Valley drill utilising the rig part owned by AST.

Any idea's ?

This is an excellent example of throwing good money after bad. I really can't see it going back up.

Yes should be re-named Descent Resources!!

I see H2 2008 as a time when this will Ascent and fast. I have copied your posts below, and come later this year I might enjoy copying and pasting them to you a few times to remind you :) LOL

Todays price is 5.75p - lets see where the price is later this year, against the posts below.

hlyeo98 - 28 Mar 2008 19:51 - 346 of 347
This is an excellent example of throwing good money after bad. I really can't see it going back up.

halifax - 28 Mar 2008 21:22 - 347 of 347
Yes should be re-named Descent Resources!!

You are most welcome...the chart says it all.

Copy of couple of posts on AFN :



PapalPower - 1 Apr'08 - 01:44 - 19231 of 19233
IMV there is only one event that will change the outlook of AST in the shorter term, and that is production from Nyirseg being on line from Hungary by end of H2 as was stated.

If this event happens and on time then sentiment will rightly change. The seller here is likely (if its not for tax reasons and we will know soon) assisting a potential buyer, as in they will depress the price down to "crazy levels" to cut off funding potential, and then their "friends" will come in with a cheap offer to buy the company.

This kind of aggresive behaviour happens a lot, and AST has some good assets, and so would be a potential target.

This is where JE and co have to be very clever, preserve their cash and get their cash producing assets on line soonest. Once into production the vultures, if that is what we have presently, will soon go away, and the SP will respond accordingly.


Hellisreal - 1 Apr'08 - 02:40 - 19232 of 19233
Very insightful post PP
Do i Don't i ?
Hold quite a few already ,da da


PapalPower - 1 Apr'08 - 02:46 - 19233 of 19233
Well, first thing to wait for is to see if the selling stops come Thursday........if yes then it was tax year end selling.

If it continues then I would suggest we have "vultures" overhead. They look for good companies who might be tight on cash........with perhaps fidgity major shareholders........they then short sell or get a major holder to sell down and crash the price, then they breeze in with an offer and try to get majority approval at a very cheap price.

Due to the crashed down SP, the company cannot raise funds without diluting the hell out of the assets, so the vultures win and buy the whole company cheap.

The only thing that will arrest this, is the company delivering on the Nyirseg production on time and to plan (which is in production by end H2). With that cash coming in, the picture changes, if you add some Bajsca success in to....the vultures will be gone before Po Valley is drilled.

So, at this present moment in time.......its a case of wait and see.

The back up is that any "hostile" bid would be above todays SP (say 10p or 12p).

The downside is that things may wobble along for some time yet until news.

Certainly some of the major shareholders will be worried that AST fails to get any production on line, and be end of 2008 are left with no cash, and then things get really stripped down and sold off for peanuts. This is what the vultures feed on, and they are successfully cutting off any funding by placing,

So, the game is afoot imv, however, should production come on line end H2 as planned things will turn, and should any of the drills strike home, then a very fast turnaround will happen.

That imo. You pay your money, you take your gamble :)

Seller might be being cleared out now ?

On Line Limits much stronger :

BUY 100K @ 5.8p

SELL 100K @ 5.7p

Kerching........prior back costs in the Ascent bank account then ?


http://www.oilvoice.com/n/Otto_Energy_Confirms_50_Farmin_Into_Po_Valley_Italy/b440e417.aspx

Otto Energy Confirms 50% Farm-in Into Po Valley, Italy

Wednesday, April 02, 2008

Otto Energy provides an update on the farm-in negotiations for two permits within the Po Valley, onshore Italy, where Otto is set to acquire a 50% holding in two Bastiglia-Cento Exploration Permits from Ascent Resources Plc.

Highlights:

Otto will hold a 50% working interest in each of the two permits, subject to the terms of the agreement.
The two adjacent Bastiglia - Cento Exploration Permits are considered highly prospective and have multiple hydrocarbon prospects and leads already identified from previous seismic data.
The first well, Gazzata-1, will be drilled around September 2008, targeting prospective gas resources of over 100bscf.

Otto Energy has finalised negotiations to farm-in the full 50% option to the Bastiglia-Cento Exploration Permits in the Po Valley, Italy from Ascent Resources Plc. Otto will acquire the full 50% interest as a result of Deltana Energy choosing not to exercise their option to acquire a 15% working interest from Otto before 31 March 2008.

Ottos CEO Alex Parks said, Otto is pleased to be earning the full 50% interest in the Permits. We believe the chance of success is relatively good and thus the resulting risk, cost, and reward balance compliments our portfolio of assets. By earning the full 50% there is considerable upside for Otto to materially benefit from any discovery made and we look forward to the start of the drilling program later this year.

Back costs in the bank, as well as paying for seismic data :)

http://www.investegate.co.uk/Article.aspx?id=200712060701252957J

"The new agreement supersedes the farm-in agreement with Deltana, previously
announced on 1 August 2007. The terms remain essentially unchanged with Deltana and Otto paying a contribution towards the project back costs and the purchase of existing seismic data. Deltana and Otto will also pay 100% of the cost of the first exploration well and 100% of the cost of a second exploration well if the first well discovers commercial quantities of gas. The future value of the farm-in package amounts to circa 13 million."

++++++++++++++++++++++++++++

Its difficult to know whether total back costs were circa 2m Euro, or the proportion of back costs to be paid by the farm in partner was 2m Euro.

Anyway, should be 2m Euro, or a portion of 2m Euro (50% = 1m Euro worst case) going into Ascents bank account soon.

AND, a charge for the purchase of the existing seismic......how much will that be ?

Otto Energy assigns an NPV of A$200,000,000 to the Gazzata area in the Po Valley, thats just Gazzata, on their 50% stake.

That is in sterling, 91 million pounds.

So of course AST also has an NPV of 91 million sterling pounds on the 50% they hold.

To put that into perspective, the Po Vally Gazzata area on its own offers an NPV of 30p a share to Ascent.

First drill there, coming Sept 2008.

Nice to see Ascent got near the high end of my estimates, with 2.15m Euro paid to them for back costs and seismic by Otto for the farm in :)

The potential NPV to Ascent is circa 30p a share.....not bad, just for Gazzata.


http://www.ottomanenergy.com/media/Moving%20forward%20in%20two%20thousand%20and%20Otto.pdf


"Moving forward in two thousand and Otto"

... What Parks described as the next big thing for Otto is drilling of Gazzata-1 in
the Bastiglia-Cento permits in the Po Valley of northern Italy where Otto farmed into a large exploration permit held by AIM listed Ascent Resources. The Po Valley is
a proven hydrocarbon basin, where more than 13 trillion cubic feet of gas and 342
million barrels of oil have been discovered to date.

To earn 50% in the permits, Otto contributed 2.15 million in January 2008
for the purchase of seismic data and reimbursed Deltana Energy for direct costs
of $400,000. Otto will pay 100% of the cost of drilling and testing the Gazzata-1 well.

In the event of a significant commercial gas discovery at Gazzata-1, Otto will also
fund 100% of the cost of drilling and testing of a second well.

We will be drilling the Gazzata-1 well in Italy in September targeting 130-200 billion
cubic feet of gas, Parks said.

In the event of a discovery, the company estimates the project is potentially worth
more than $200 million to Otto on a net present value (NPV) basis, equating to
approximately 40c per share.

There are two very similar structures in the Bastiglia-Cento permits Gazzata and
Rubiera. Gazzata is the first one that we are going to drill. There are 2D seismic lines that run north and south on Gazzata and processing and interpretation shows what looks like a common gas-water contact on each line, Parks added.

If we can demonstrate that Gazzata works, then we will have a good look at
Rubiera, which is another structure that looks very similar. Between these two
structures and the rest of the block, which is also judged to be very prospective, there could be as much as a trillion cubic feet of recoverable gas in the block.

Ascent Resources PLC
07 April 2008

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

Hungarian operations start-up

Ascent Resources plc, the AIM-traded oil and gas exploration and production
company, announces that operations have commenced on the Szolnok exploration
permit in Central Hungary where the Company has a 27.5% interest, with the
drilling of the first of two exploration wells and the start of a 3-D seismic
survey.

Drilling of the TIK-1 well began at 17:00 on Sunday 6th April with operations
expected to last about five weeks. The well is planned to reach a depth of
2,250m and to intercept targets in the Pannonion, Miocene and pre-Miocene
formations.

The Kunszentmarton 3-D seismic acquisition programme has also begun and the
field work is expected to take seven weeks. This programme will cover 150 sq km
and as well as delineating six prospects identified from old 2-D lines, it is
expected to identify further targets.

Both in the area of, and surrounding the Szolnok exploration permit, there are a
number of producing oil and gas fields as well as new discoveries that are been
drilled in the past two years being prepared for production.

Ascent Managing Director Jeremy Eng said, 'These works, along with the on-going
preparations for the start-up of production at Ascent's PEN-104 gas discovery in
eastern Hungary, demonstrates the benefits of a portfolio approach which has the
ability to create value through the simultaneous implementation of both
exploration and development programmes.'

For reference this was a post I put on AFN over the weekend, and the news today confirms two of the first "guesstimates for April".

Its only guesses, so DYOR !!

PapalPower - 5 Apr'08 - 03:02 - 19402 of 19436

Timelines, lets stimulate some debate on the 2008 timeline of events, please add in whatever you can.

I'll start with some guesstimates of events and timing, please add comments and suggestions. :


April 2008 - Prelim Results / 3D seismic at Snozzle / 2D Seismic at Anagni / Snozzle-1 spud.
May 2008 - AGM / Hungary Peneszleck production is on line
June 2008 - Issue reserves report for Hungary / Snozzle well 2 spud
July 2008 - Bajsca start / 2-D Seimic results from Anagni+intent to drill
August 2008 - Directors excercise warrants (Sept/08 exp) at 15p raising 900K.
September 2008 - Spud of the Gazzata-1 in the Po Valley / Interim Results / Hungary Peneszleck Gasfield - 3D Seismic
October 2008 - Spud of Anangi-2#
November 2008 - Spud of the Hermrigen-2 Swiss Drill*
December 2008 - Commercial finds confirmed at A-2 and G-1, city falls in love with AST, SP hits new high at 40p ;) (he says with fingers and toes crossed)

All are "guesstimates" so DYOR !!


#Pending 2D seismic results, drill could be scheduled for Q4 using other shallower rig of Ascent Drilling partner.

*Pending permits and new deep drilling rig delivery to Ascent Drilling partner Hermrigen-2 could commence July prior to the rig being used at Gazzata-1 in September.

Out of interest, from the on line limits, it says the seller is gone today. Time will tell.


On Line Limits :

BUY 15K @ 6.94p

SELL 250K @ 6.56p

4 to 6 weeks it seems for Tik-1 well (Snozzle-1 as we say)

http://www.oilvoice.com/n/Toreador_Provides_Operational_Update/c5c93ca8.aspx

Toreador Provides Operational Update

Monday, April 07, 2008

- Tik-1 Exploration Well Spudded in Hungary
- 3-D Survey Underway
- Joint Venture Agreement Completed for Deep Gas Play in Hungary
- Production from Three Platforms in South Akcakoca Sub-Basin Project Now Approximately 30 Million Cubic Feet of Gas Per Day
- Joint Venture Agreement for Sea of Marmara Exploration Disclosed
- Another Joint Venture Agreement in Thrace Black Sea Close to Completion

Toreador reports that drilling operations have begun on the Tik-1 exploration well in the company's Szolnok block in Hungary. The well is planned to reach a total depth of over 2,250 meters and is testing the hydrocarbon potential of the Pannonian, Miocene and pre-Miocene formations. Operations are expected to take four to six weeks to complete.

An approximately 150 square kilometer 3-D seismic survey is also underway on the Szolnok block. The survey is being acquired to develop leads into prospects along a structural high between two sub-basins on the southern edge of the Szolnok block. It is anticipated that field operations will take approximately six weeks.

As previously announced, the Tik-1 well and the 3-D seismic survey are part of a $10 million exploration program (including an additional exploration well to be drilled later) in Toreador's Szolnok exploration block. In return for funding the program, four joint venture partners will earn an aggregate 75% working interest in the block. Toreador is being carried for its 25% working interest and is the operator.


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Some more info on the "Snozzle" area is in the PDF, link below :

http://www.acadiansec.com/UserFiles/file/articles/CEX_Stoney%20Creek%20Production%20Increases%20-%20Contact%20Enters%20Hungary_01-16-08.pdf


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