No Xcite update yet. – It must be soon!

I just bought into Ascent resources. Another spread bet as fully invested for the website… Its early days but they have just been provided with funding from Yorkville (who financed XEL and GKP among others) for a key stage of their drilling programme. SPUD announcement imminent.

– No trades this week on the portfolio but will update on Wednesday.

Research Ascent Resources – AST (Bold good, italic bad)

European Oil Producer (No political stability risks)
MCap 37m
SP 6/12/10 : 7.19p Following big rises 19/11 and 5/12/10
Lots of trades 5th and 6th Nov

Lots of intangibles (49%) but less than 2008 (65%)
P/E:  -2.25
Losses 2008 2.8m;  2009 10.6m
Acid Test 0.83 – not awful
Debt/Loss ratio -1.05
More cash available than at any time during the last 4 years

Lots of blog/forum talk of huge gains

This is an RNS “Buy”

Director Buys/Grants of options/drilling and financing reports have all boosted the SP in late Nov early Dec 2010.

RNS of 2/11 confirmed that drilling will commence on 16/12 in the Slovenian Petisovci-Lovaszi project area in which the Company recently announced an independently verified P50 estimate of gas-in-place of 412 Bcf.
This is “expected to be a producing well”

– Please do not take this info as a tip of any kind! – I am simply publishing my opinions and thoughts. I also cannot guarantee any or all or this is factually correct.

Cheers

Doug