Recertification of Export Production Pipeline

RNS Number : 3061O

Ascent Resources PLC

04 November 2016

 

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

Ascent Resources plc

("Ascent" or "the Company")

Recertification of Export Production Pipeline

The Board of Ascent is pleased to announce that the export production pipeline which runs from the Petišovci field to the Croatian border has been recertified at the operating pressure required for production.

This pipeline will be connected to wells Pg10 and Pg11A via the existing processing plant and used to transport gas produced from the Petišovci field to Croatia.  A purchase order for the connection of the pipelines has been approved and planning work is underway.

Colin Hutchinson, CEO, commented:

"I am pleased that another task has been successfully completed and that the pipeline can be used without the need for refurbishment; we will continue to progress the remaining work programmes required to make the wells ready for production and look forward to revenues in early 2017."

Enquiries:

Ascent Resources plc                                                                                                        0207 251 4905

Clive Carver, Chairman

Colin Hutchinson, CEO

Stockdale Securities Limited, Nominated Adviser and Broker                        0207 601 6100

Richard Johnson

Andy Crossley

Ed Thomas

Northland Capital Partners Limited, Broker                                                            0203 861 6625

Tom Price

John Howes      

Abigail Wayne

IFC Advisory Ltd, Financial PR and IR                                                                          0203 053 8671                     

Graham Herring

Tim Metcalfe

Heather Armstrong

 

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