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Ascent Resources - Drilling results in a month’s time

May 2011

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

  • Epic Code:
  • AST
  • Price:
  • 4.75p
During the month we met with Scott Richardson-Brown, the recently appointed finance director of Ascent Resouces (AST; 4.75p), a junior oil and gas company with an unusual  European focus. His opening punchy statement was that Ascent has an attractive risk-reward with one broker forecasting that NAV is 19.4p a share versus the current share price of 4.5p. But we are hardened folk at Sharewatch and our cheeky retort was that perhaps he may have been better off sticking with his former company CSR (CSR; 375p) which has over a third of its market cap in cash, a niche market and a profitable franchise in Bluetooth devices.But it is easy for investors to be sceptical and at Sharewatch we like to keep an open mind. Ascent floated on ...

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With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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