The whore blogger, Fat Bastard, Malcolm Graham Wood left the board of Ascent Resources (AST) on May 31 and the cleansing of this Augean stable was completed yesterday with news, predicted in a recent bearcast, that “Mr James Parsons, has also elected to stand down from the Board with immediate effect”
Amur Minerals (AMC) says that it does not want to merge with the perma dog tainted with the reverse Midas touch of James Parsons, that is Ascent Resources (AST). That is smart call, walking away from the unsolicited approach makes sense. Parsons always gets richer from companies he runs, mug punters are always screwed.
Yesterday I looked at the appalling value destruction at Mosman Oil & Gas (MSMN) and asked if there was any worse record on AIM. A kind reader suggests that i look at that of Mr James Parsons.
With James Parsons as Executive chairman you know: A) He will make a lot of money, b) He will ramp the shares, c) It will end in tears. It does not matter what the company is, with Dracula at the helm nothing changes. And so on Friday at no-one is watching O’Clock, 4.56 PM, there was news from Slovenia where Ascent’s attempts to deliver a gas project have, it claims, been stymied by the Goverrnment. Oh dear, news at that time is never good.
After a rolling year of oil price movements, I find myself once again sat next to the fire at Christmas time cogitating oil company performance and prospects. Having suggested I would rather hold a bucket of Vomit than some oil shares this time last year, it’s time to review just how much money I did not lose. Yep it’s time to project the 2020 Vomit list awards to the deserving winners.
Ascent Resources (AST) has only avoided a crash landing in tits up alley thanks to the provision of death spiral finance by Riverfort Global and Align Research. Essentially, it has sod all cash, its assets in Slovenia it failed to monetize for eons and some joke Cuban assets. At c6p it is capitalised at c£5 million. Given Parsons' track record as a pump and dumper and value destroyer, only a total poltroon would buy any shares. So step forward... Mr James Parsons.
I have commented before on how Dr Michael Green should not be working in the City because of the role he played in the Sefton(SER) fraud which included launching a dirty tricks campaign against the heroic investigative journalists Mr Daniel Levi and er…me. A couple of months ago, he published a note on Bluebird Merchant (BMV) with a price target which, though I am a very supportive shareholder, especially after today’s RNS, I said at the time was quite utterly bonkers. It still is. Today he opines on Ascent Resources (AST) and his research makes that on Bluebird seem sober and considered.
What are shares in Sound Energy (SOU) trading at today? 1p, 2p? I reckon this drowning in debt POS is worthless but only time will tell. It was not that long ago that shares in Sound traded at 90p. Not one institution bought as the stock headed to a £700 million market cap driven by obscene share ramping by the then CEO James Parsons, aided by some of the less scrupulous characters on the AIM scene...
Shareholders in Sound Energy (SOU) have lost more than 95% of their cash thanks to the appalling ramping and hype and value destruction of just one man…James Parsons. The Sound fiasco would kill off the careers of most CEOs but Parsons is like Dracula, he leaves one rotting corpse behind moving to suck the financial blood from a fresh corporate. Today’s victim is Ascent Resources (AST).
