Ascent Resources Share News (AST)

(ShareCast News) - Ascent Resources issued an update to shareholders on Thursday, on the work programmes required to deliver first gas in Q1 2017.The AIM-traded firm said well Pg-10 has been successfully recompleted with the permanent bridge plug knocked through and two holes punched in the production tubing.That decision to perforate the production tubing was made as it was not possible to reach and open the bottom plug.The holes were made at a depth of 3,102 meters, and gas was flowed for a short period until it became clear that additional holes will be required to allow sufficient gas to flow to satisfy the supply contract with INA in Croatia.Ascent said that work is underway, at which point a formal well test will be undertaken.The company also confirmed the gas flowline from Pg-10 to the processing facility has been laid and is planned to be connected later this month following completion of the flow test.It said the contractors will then construct the connection with the export pipeline which allows gas to be flowed to Croatia for sale."We are pleased that the workover of the Pg10 well has been successfully completed and we look forward to providing the results of the well test in due course," said CEO Colin Hutchinson.