LONDON (Alliance News) - Ascent Resources PLC on Monday said it signed a contract to acquire a mobile compressor to use at its Petisovci project in Slovenia.
The supplier is expected to install and commission the mobile compressor unit in the fourth quarter of 2019.
"Once installed the compressor is expected to allow increased, stable production from well Pg-10 and will significantly extend the life of this well," Ascent said.
It added: "The equipment will also be used on well Pg-11A to address the performance issues which have restricted production from that well over the past year."
Ascent shares were trading down 10% at 0.34 pence each.
Ascent Resources (AST)