Ascent Resources - All change for 2010 ?

EGM resolution passed, company has another load of cash from a director who now has even more shares.

Roll on the news flow.

PEN-101 stimulation results, along with the production figures for the combined 105/101 pipeline.

Fontana-1

And the Hungarian rig moves on from the successful 101 to now rework 104-AA with a stimulation.

On the front page there is now no more mention of Switzerland (AST Hermrigem) as an Active Project - just been removed :

http://www.envoi.co.uk/actpro.htm


Also, its now classed as "Under Offer" in the summary sheet (page 2) below, which it was not before.

http://www.envoi.co.uk/envoiprojectlocator.pdf



Info document is below, and as you can see from that, the project is a potential 578 Bcf recoverable, which would have quite massive implications for the value of AST should it come off. :

http://www.envoi.co.uk/P154bAscent(Switzerland)EnvoiIntroFlyer.pdf


Not planned in the 2010 drill campaign as it was waiting farm out, but a farm out deal and firm drill date would excite the share price somewhat as its being totally overlooked by the market at the moment.

Jeremy spends 50K pounds on AST shares, and keeps the option for another 450K pounds worth pending until July.

Entering closed period. Nice to see this buy of shares just after another director took many millions of shares. And of course, its another 50K in the AST cash pile sat in the bank.


http://www.investegate.co.uk/Article.aspx?id=201003180700127535I

.........

http://www.proactiveinvestors.co.uk/companies/news/14774/ascent-resources-starts-production-from-pen-105-14774.html

Tuesday, March 23, 2010

Ascent Resources starts production from PEN-105


Ascent Resources’ (AIM: AST) Hungarian-based subsidiary PetroHungaria kft has begun production from the PEN-105 well in the Penészlek area of the Nyírség permits. Production from the well is expected to stabilise at over 2mmscfd (million standard cubic feet per day) within a few days. PEN-105 was completed and shut-in in December whilst the company connected it to the main export pipeline and completed drilling of the nearby PEN-101 well.

"The initiation of production on PEN-105 not only provides cash flow but demonstrates the success of our strategy of targ...........................

Just cross-referencing to latest news article - http://www.stockopedia.co.uk/content/ascent-resources-encouraged-by-seismic-results-in-slovenia-new-targets-identified/38930

Update last week saying that PEN-106 is now being drilled and when complete the rig will go over and do the finishing touches on PEN-101 (small sidetrack).

So, fingers crossed, in about 8 week there should be at least 3, if not 4 wells on line producing in Hungary. That being PEN-105 which is already producing, PEN-101 which will be producing after the workover, PEN-106 on a good drill result and GH-1 at the Panhandle area which is waiting to go into production.

Wonder when the Fontana news from Italy is going to come out ?

http://www.oilbarrel.com/nc/news/display_news/article/ascent-resources-identifies-additional-upside-in-slovenia/860.html

March 31, 2010

Ascent Resources Identifies Additional Upside In Slovenia

Investors awaiting news from Ascent Resources’ Fontana-1 re-drill in Italy are being happily diverted by news from some of the AIM company’s other projects in mainland Europe. This includes good news from its Petišovci project in Slovenia, where positive seismic results are reported t.............................

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

They should have over 12M pounds in the bank cash soon.

Post discovery farm in rights as well.

And success at Fontana geologic well in confirming "live oil" and a new Anagani-2 well "oil appraisal" due.

News is getting more and more exciting :)


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 Int...........

Back to Fontana-1 and the Anagni area, the recent news was good IMO.

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 recent 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. ......"

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

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New Presentation Out.

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

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Good detail on all the projects.

Things looks solid and exciting going forward.

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

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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

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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"

Press release from Swede Resources.

Acid work on 101 has failed to increase flow, so its in production at its initial rate. Appears to be damaged well bore from drilling.

However, 105 is now increased production again, more gas and condensate (now at 40 barrels a day of condensate).

They hope given the same initial low flow rates at 105 but increasing over time, that 101 will be the same (as its the same Miocine formation).

So there we have it, 105 and 101 now on production.

http://www.oilvoice.com/n/Ascent_Resources_Highlights_Significant_Development_Potential_in_HungarySlovenia/7cd9b02be.aspx

Ascent Resources Highlights Significant Development Potential in Hungary/Slovenia

Monday, October 04, 2010

Envoi Limited, specialist A and D advisors to the international upstream oil and gas sector, has released information on a significant.....................

http://envoi.co.uk/P187Ascent(SloveniaHungary)Intro.pdf

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http://www.oilbarrel.com/nc/news/display_news/article/streamlined-ascent-resources-posts-maiden-interim-profit/1209.html

"October 05, 2010

Streamlined Ascent Resources Posts Maiden Interim Profit

Many investors find it hard to get excited about Ascent Resources, which for too many years has been perceived as a collector of little projects in different corners of Europe. That perception is changing, however, as Ascent has been quietly refining its po..................

Interesting and first spud Nov then.....

http://www.investegate.co.uk/Article.aspx?id=201010130700082856U



13 October 2010

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


Reports In-Place Gas Volume of 412 Bcf for Petişovci-Lovaszi Project



Highlights:

· Independent corroboration of substantial gas in place resources in the project area - P50 estimate of 412 Bcf (11.7 Mm3; 68.7 MMboe)

· Large scale gas development with good infrastructure, pipeline connectivity and a strong regional sale price - current price $9.00 per Mscf

· Project development objective are the Miocene formations which contain multiple tight gas reservoirs at moderate depths

· The Pg-11 evaluation well is ready to drill with commencement targeted in November 2010 - expected to be Ascent's first Slovenian production well



Ascent Resources plc, the AIM-tra............

They had previously advised 375 BCF recoverable.
The CPR puts this as 206BCF with the assumed 50% recovery factor.