LONDON (Alliance News) - Shares rose in Ascent Resources PLC on Monday after its joint venture partners received full validation of a pollution prevention & control permit, with no further appeals against it possible.
Shares in the oil & gas company were 31% higher at 0.65 pence on Monday.
The permit allows the installation of a small processing facility which will enable gas to be sold into Slovenia's national grid system.
On Monday last week, Ascent's joint venture partners at the Petisovci gas project received approval from the Slovenian Environment Agency to install the processing plant.
"I am delighted the IPPC permit has been granted and we can continue to progress our plans to develop the Petisovci project to its significant potential," said Chief Executive Colin Hutchinson.
Ascent has had significant permitting problems in Slovenia in recent years, having applied for an pollution prevention & control permit five years ago.
Ascent Resources (AST)