Now, I am sure, in fact I am waiting, to see the Dan Levi haters and my own personal haters start their forum rants, but of course, none of them will be Sefton investors, they will just be doing their keyboard warrior thing. They will not accept that any effort to restore credibility and financial stability is better than no effort at all, that without this move, the cash would just dwindle. They will only focus on the fact Dan Levi did some time and that should remain with him for life! Fact is, not a lot of people know just what Dan has done with his life and what he has accomplished that doesn't get publicised, most would surely be amazed!
But, none of this matters, the fact is, Dan, myself and the rest of the directors are in and about to get to work.
Now, PCG Entertainment is more of a high risk investment due to previous failures, fraud, ex-employee legal actions, not the sort of company one would initially consider throwing their cash at, but this is one where the management interest comes in. Richard Poulden, the CEO who has taken the reigns is NOT recognised for failure. He has the contacts and the experience to turn this company around and when management don't take wages, but shares in lieu, then that in itself suggests an air of confidence in rebuilding shareholder value. Fully funded and looking for deals in a market where the management have experience, PCGE is, in my opinion, one for a major recovery and possible imminent multibag.
Summary of BRR MEDIA Interview with Coin Hutchinson, CEO Ascent Resources, 24/04/2017
Colin today confirmed the debt on the balance sheet was SIGNIFICANTLY reduced in the 2016/17 period, half the debt disappearing during 2016 with administrative costs further reduced !
He was on site just over a week ago and was delighted to see the gas being turned on and going on sale.
There is a workforce on the ground this week at PG11 who will be moving the equipment ready to re-complete sometime in May and then this will be followed by gas sales to INA.
With regards to the assets, Colin stated ' t he assets are 'hugely significant ' and the independently assessed gas in place will supply Slovenia for a considerable time."
PG10 and PG11 have been proven to flow at commercial rates and the company are looking at bringing on new wells, re-habilitating old wells and boosting production to a stable level, thereby generating s ignificant cash revenues .
OK, so Hendersons are dropping their Convertible Loan Notes into the market and it seems the company is being shorted, but firstly, what's new in this game and secondly, has the company reported anything that will make it's shares worthless?
No, of course not and I am aghAST al all the comments on the bulletin boards where 'supposed' investors are saying they are selling out. I mean, wait 10 years for the company to announce it is now producing and selling gas, the price to drop to pre-announcement levels and then move on???
Ascent Resources is producing gas for a COUNTRY! Not the local villagers and it is future major! Well, that's if it's not sold off, which again, would see a nice return for investors.
Why on earth people cannot exercise a little patience for what is pretty much an obvious outcome I can't comprehend. Well, I can, they are in it for a quick kill and it ain't happening quick enough!
I've seen this so many times. Buy, buy and buy and still she goes down. One of the reasons likely, Hendersons and the CLN's, another could be a major buyer with a price agreed and the MM's frightening people out to get enough to fill the order. (They do do that you know) ;)
Whichever it is, as soon as the deed is done, there will be a sudden burst upward for no obvious reason. The market is made up of people with no patience, this is why the MM's know, with a little bit of 'dicking around', they will get their shares!
Anyone sitting tight will see this recover and make 100%+ on their investment I am quite confident on that, but will they?
AIM is a home for the day trader, buying in and selling out for 5%, the big rewards are there for those prepared to wait!
Ascent resources is a producer now, they are selling a product into a market that wants and needs it. No chance of a shortage of customers or a recession effecting it.
I am sitting tight with mine!!!
The issue I see with AST at this point in time is not the permit. The company can sell their gas without that for now, albeit for a smaller revenue and the outcome will eventually be in Ascents favour. It is in the Slovenian interest to ensure this. For investors, new and old, it is now about placing a value on the company and I believe this is where Colin Hutchinson is between a rock and a hard place in that until it can be shown the gas is stable, that the flow rates can be maintained and increased where necessary, any figures at this stage could well prove to be wholly inaccurate by the end of the first month's supply and more-so by the end of the first quarter. Any announcement stating less than estimated would immediately result in the usual forum abuse and market devaluation.
Shareholders are stuck between the rock and the hard place with him on this one and whilst every investment is a gamble, it does offer an incredible opportunity to buy into what will likely be a solid long term, profit making business at an attractive price.
If people can exercise patience, I have no doubt Ascent resources will be an attractive long term play.
When Henderson's eventually offload the convertible loan notes, I am confident AST will soar past the 4p level and find its new baseline which can then rise and fall with whatever achievements and failures follow.
Of course, it's most likely that the country will wish to control their gas themselves at some stage or at least ensure it is all under one roof where it can be nationalised or utilised for government revenue so AST will be sapped up and taken out. The longer this takes, the more gas will be coming on line and the better the offer. By the end of 2017 I see a strong value here.