Ascent Resources (AST)

Sector:

Energy Producers

Index:

FTSE AIM All-Share

2.50p
   
  • Change Today:
    -0.11p
  • 52 Week High: 4.10
  • 52 Week Low: 2.35
  • Currency: UK Pounds
  • Shares Issued: 208.61m
  • Volume: 2,015,853
  • Market Cap: £5.22m
  • RiskGrade: 630

Ascent updates market on surging gas price situation

By Josh White

Date: Monday 11 Oct 2021

LONDON (ShareCast) - (Sharecast News) - Caribbean, Latin America and Europe-focussed energy and natural resources company Ascent Resources updated the market on the gas price situation at its Petisovci gas project in Slovenia on Monday, following recent significant increases in global gas prices.
The AIM-traded firm said spot prices at the Central Eastern Gas Hub were currently around €105 per MWh, while pricing for first quarter 2022 futures were currently €104.725 per MWh.

That was a 905% increase from the €11.4 per MWh price as set out in the company's 10 September announcement.

"The company now expects, at current gas prices and production levels, the PG-10 and PG-11A production wells to generate net production revenues after extraction, processing and handling costs of at least €100,000 per month, net to Ascent," the board said in its statement.

The company also announced that, following a recent operating management committee meeting and partner engagement process in Slovenia, it was aligned with its joint venture partner on key work streams including the long-term concession extension, environmental impact assessment, and permitting to re-stimulate the PG-10 and PG-11A wells.

"The company is also in constructive dialogue with its JV partners in Slovenia regarding the resolution of all disputed legacy matters and the restructuring of certain production costs," the directors added.

"Further announcements will be made in due course."

At 1138 BST, shares in Ascent Resources were up 4.31% at 4.33p.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

AST Market Data

Currency UK Pounds
Share Price 2.50p
Change Today -0.11p
% Change -4.21 %
52 Week High 4.10
52 Week Low 2.35
Volume 2,015,853
Shares Issued 208.61m
Market Cap £5.22m
RiskGrade 630

AST Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
13.89% below the market average13.89% below the market average13.89% below the market average13.89% below the market average13.89% below the market average
34.21% above the sector average34.21% above the sector average34.21% above the sector average34.21% above the sector average34.21% above the sector average
Price Trend
39.2% below the market average39.2% below the market average39.2% below the market average39.2% below the market average39.2% below the market average
21.95% above the sector average21.95% above the sector average21.95% above the sector average21.95% above the sector average21.95% above the sector average
Income Not Available
Growth Not Available

AST Dividends

No dividends found

Trades for 28-Mar-2024

Time Volume / Share Price
16:37 500,000 @ 2.50p
16:36 500,000 @ 2.48p
16:35 500,000 @ 2.50p
16:35 305,207 @ 2.50p
16:35 80,000 @ 2.50p

AST Key Personnel

CEO Andrew Dennan

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