Ascent Resources Clive Blames 6 Week ‘SHAG’ for 6 Years of Failure

I’ve been very quiet on Ascent Resources (LON: AST). Hoping that the SP would rise. Sadly it’s not. It’s just drifting. I’ve noticed a cacophony of wild bleating coming across my social media platforms by various ill-informed crack-pots. So let’s get it all out in the open. Shall we?

Clive Blames 6 week ‘SHAG’ for his 6 years of failure!

Now I’m going to make myself very clear. Indeed crystal clear. The Company are where they are because of years of shockingly bad management.  Colin Hutchinson and the greedy corporate shyster that is Clive Carver have ‘Apparently’ told investors in the one way investor conference call (the put up job where no fooker can ask questions and basically all questions are screened) that the abysmal SP is because share-holders have joined a share-holder action group with a ‘criminal element’.

Now if that doesn’t take the biscuit as the biggest crock of corporate bullshit ever spoken in the history of AIM then I’m best mates with Donald Trump!

I’ll remind ALL AST investors and long-term holders. Clive Carver was put into AST by Henderson Global. Mr Carver is or was Chairman, he’s now a Non Executive Director of Darwin Strategic, a Vulture Finance outfit owned by Henderson Global. They take discounted shares and forward sell them into false rises created specifically with the connivance of the company! That is what they did during every single Equity Finance Facility (EFF) they issued with every single company daft enough to sign up for an EFF, a Death Spiral.

This is how an EFF worked. For 15 days traders at Darwin would secretly flood the market with shares in false rises deliberately orchestrated by the company. For 15 days the company would over-promote through RNS, paid for articles, videos, podcasts and presentations. This was done to deliberately sucker in gullible investors so that Darwin could sell stock at inflated prices into the liquidity. Then ZAP! RNS drops announcing a drawdown. A dilution. Darwin would take their cut and then pass the cash onto the company. The regulators put a stop to the Darwin EFF’s.

Darwin then had to come up with another solution to allow them to carry on. Take a bow Primary Bid. Primary Bid is the bastard spawn of the EFF, Darwin and Mr Clive Carver. That is a fact.

Mr Carver elevated Colin Hutchinson to the position of INTERIM CEO. The shares in issue were circa 1Billion. The share price was 32p-34p when Mr Carver took control and was installed by Henderson. It is now 1.5p! Virtually every single placing and virtually every single Convertible Loan Note have been issued and converted by Darwin/Henderson.  They have made tens of millions of pounds while Long Term Holders (LTH) have been wiped out. If you had bought 1,000,000 shares on the day of Mr Carvers stewardship you’d have paid £320k-£340k. Those shares today would be worth £15k.. Yet we have a Board that issues themselves performance options!!! By what stretch of their imagination do they believe they are entitled to issue performance/bonus options, bearing in mind the absolute abysmal, historical raping of the company? Their  management has been a disaster for share-holders. That’s because they are not Oil & Gas savvy. They’re corporate financiers and they couldn’t give a flying fook about their shareholders. Shares now in issue fast approaching 3,000,000,000.

CEO ‘Jelly Fish’ Ducked out of presentation.

Yesterday Colin Hutchinson spent circa £5,000 on shares! That should tell you all you need to know. I hold shares in this company and regardless of the consequences of my telling you the truth, the whole truth and nothing but the truth, investors need to wake up. Interim is 6 months it is not 5/6 years. Mr Carver gets paid by AST and receives payment from Darwin and bonus payments from Darwin. That is a massive conflict of interest and needs to be addressed. Mr Carver runs Ascent Resources. Mr Hutchinson is a spineless Jelly Fish. A CEO who ran away from a presentation because he knew I would be there to ask tough questions on behalf of the AST Shareholder Action Group. He was instructed by the AST Board chaired by Mr Carver. That is a fact. A man who posts photos of £152 bottles of Bushmills whisky telling us all ‘Job Done’. What job have you done Mr Hutchinson? The share-price is tanking and it is going to remain ‘choppy’ because you’ve just told every man, woman and their dog that you need £10,000,000-£12,000,000 in finance to build a gas processing plant. Pray do tell us all where and WHO you are going to get £10,000,000-£12,000,000 from?

What is happening here is this. The company is imploding specifically because they are being used as a trading vehicle by Henderson/Darwin. Not because of an action group peopled by good honest LTH’s. To try to deflect away from their disgraceful connivance with Vulture Financiers, by using Black Propaganda blaming the 6 years of dilution and tumbling SP on a 6 week old Action Group is testament to the desperation of a Board that have been exposed as inept and deceitful. That Mr Carver is the only ‘Criminal Element’ involved or associated with OUR company. Share holders own AST Not you!. This board couldn’t run a toffee shop.

LTH’s are selling up and leaving in droves. This is because Mr Hutchinson is using well-known pump & dump promoters such as London South East and Vox Markets, who by the way have Darwin Traders as their share-holders. What a coincidence…..  I emailed Mr Hutchinson several months ago telling him that if he continued to run promotes with pump & dump promoters then the P&Ders would attach themselves onto the company and LTH’s would suffer. Ascent resources are losing their LTH’s because of the Vulture financiers who are sucking the life blood out of the company and because of the increased volatility P&Ders are causing. That is a fact.

I also emailed Mr Hutchinson regarding my sources, telling me he was in talks with Henderson/Darwin BEFORE the recent placing. Hutchinson stated that I was wrong and he was not talking to Darwin/Henderson and was not raising cash. Weeks later he placed £1.5M with Darwin. I say Darwin because Primary Bid doesn’t exist it is a paper shell used to mask Darwin’s vulture finance. Operated out of Darwin’s office.

Now at the moment there’s a lot of horse shit on those well-known P&D troll infested platforms posting utter cock about myself going on the AST board etc. That is yet again more deceits being perpetrated to scare away LTH’s from the Action Group. No doubt that some of these BB LSE Trolls are being quietly briefed by Mr Carver & Mr Hutchinson. A Dirty tricks campaign against a shareholder who speaks out And tells it as it is. If you want to continue to conduct a dirty tricks campaign then be preferred for retaliation.

Those that know me also know that I am deemed persona non grata by the regulators. I have no chance whatsoever of ever getting on an AIM listed board. That is a fact.

However, as a share-holder I am fully entitled to be part or any share-holder action group and legitimately seek change for the benefit of ALL share-holders. Hence the Ascent Resources Action Group. And I can tell you ALL now there is not a cat in hells chance of the present Board ever achieving any thing other than failure. That is their record. Total Failure. They are not Oil & Gas people. And ladies and gentlemen that is well-known and mooted by many professionals in the City of London. Both of these chaps have ‘strung along’ AST shareholders for years! It is no coincidence that the massive over promotion was conducted as the CLN’s were being converted. How convenient was that for Henderson to sell ALL their CLN’s then take part in another placing?

There are people who the Action Group are talking too. Genuine Oil & Gas big hitters who could turn this company around within months, who are willing to assist Ascent Resources to get to where they should be. That is as a successful oil and gas producer with an SP at multiples of where it now languishes. These corporates have got their feet under the table and do not want to relinquish their fees and expenses. This would mean that Mr Carver and the two Directors, who are nothing but Ghosts, would have to step aside and allow ‘others’ proven Oil & Gas corporates onto the Board.

If the Board of Ascent want help then they only need to request a meeting with the Action Group and we will gladly arrange a tete a tete for them.

In the meantime I respectfully suggest that if you are a P&Der then you can go and fook spiders. If you are a genuine LTH then join the Action Group. That is the only way you can have a legitimate say in YOUR company.

 

Daniel Levi

 

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9 Responses

  1. Steve says:

    What a load of nonsense

    • Sydneypotty says:

      Actually the article is 100% correct. I recall the Darwin effs. Back in their day they were deadly and toxic for desperate companies. Nothing ever good came from them or the companies that used them. Levi is as always quite correct on his analysis of where ASTs share price was when CC took over and where it is today. He’s alos correct that if one was too draw a graph, as I have done, you can see with the correlation the Death Spiral. 34penninies down to 1.45pennies. Whose fault is that? The board of directors. Apportioning blame to the share group and Levi is as he quite rightly states: Propaganda by desperate men clinging onto their wage packets.

      • Steve says:

        how is it the boards fault?

        O&G Research firms get money through equity, they have now moved to producers, so future funding raised through debt.

        Clive has done brilliantly financing it. Colin has managed to mitigate the risk of IPPC delay and test the gas production through Trametta to Croatia, whilst making AST cash positive.

        They have cleared the debt. Great job Colin and Clive! This sort of nonsense is what drives the SP down

        • Dan Levi says:

          What a potty man. “How is it the boards fault?” Try this they’ve been running the fooking Company for 6 years. The only thing that drives the SP down is failure and cranks like you talking shite. “Great job Clive & Colin” Shareholders wiped out the sp down from 35p, massive dilution of hundreds of 100% and still nothing. Yeah great job if you’re thick as pig shit….

  2. Jon from Muswell says:

    Bad move by Ascent to try too pin the blame on you Dan. Typical nazi tactics when they’re under the spotlight. IClive Carcer is a shocker. We all know he’s had peeps over a barrel for yonks. Man’s a liar. The sp failure is their blood on their hands. If you’re reading this Colin. Resign pal. You’re as this guy says. A disgrace. Not an oilman. Time to go and as the song says “You better go now! Go now! Go now before you see me cryyyyy”

    Top rip dan.

    • Steve says:

      ****** ******* ******* ********* ***** ***** ***** **** ***.

      • Dan Levi says:

        I’ve edited out your expletive bullsh*t. Don’t come on MY site posting your nasty troll bolloxs. Get back to your London South East asylum you w**ker…

        Dan

  3. Dan Levi says:

    This is what these fookers do. They try to deflect away. They’ve had 6 fooking years. The sp has gone down from 34p to 1.45p the shares in issue have ballooned closing in now on 3,000,000,000 billion.

    But apparently it’s not their fault….

    The trolls who are being directed by the company are just uneducated Mugs and will stay that way.

    Dumb lemmings being fleeced twice a year by Carver Hutchinson. Typical Mug Punters.

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