Operational update

RNS Number : 1380U

Ascent Resources PLC

20 October 2017

 

Ascent Resources plc / Epic: AST / Index: AIM / Sector: Oil and Gas

20 October 2017

Ascent Resources plc

("Ascent" or "the Company")

Operational update

The Board of Ascent Resources plc, the AIM quoted European oil and gas exploration and production company, would like to update shareholders on the progress towards commencing export production from the Petišovci asset to INA in Croatia.

On 28 September 2017 the Company advised in its interim statement that the final step in the process was the recertification of the export pipeline by the Croatian government, and that this was expected to be completed shortly. 

While this process has taken longer than expected it has successfully moved forward through a number of stages between different government departments and INA. 

The final stage is an exchange of signatures between INA and the Croatian authorities which the Company has been advised to expect within a short timeframe. 

Once this stage has been completed the Company will begin to export gas production.

Colin Hutchinson, CEO of Ascent, commented: 

"All those associated with the project are keen to commence export production as soon as possible and every effort is being made to make this happen."

Enquiries:

Ascent Resources plc Clive Carver, Chairman Colin Hutchinson, CEO	0207 251 4905
WH Ireland, Nominated Adviser & Broker James Joyce / Alex Bond	0207 220 1666
Yellow Jersey, Financial PR and IR Tim Thompson / Harriet Jackson / Henry Wilkinson	0203 735 8825

 

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