Ascent Resources PLC - onshore Caribbean, Hispanic American and European focused energy and natural resources company - Expects its PG-10 and PG-11A production wells in Slovenia to generate net production revenue of at least EUR100,000 per month. Also notes recent "significant increases in global gas prices", singling out central Eastern European price rises of 905% year-on-year.
Also announces it is working with its JV partner on the long term concession extension, environmental impact assessment and permitting to re-stimulate the PG-10 and PG-11A wells. Also in talks with JV partners in Slovenia regarding the resolution of all disputed legacy matters and the restructuring of certain production costs.
Current stock price: 4.50 pence, up 8.4% on Monday
Year-to-date change: up 28.0%
By Will Paige; willpaige@alliancenews.com
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Ascent Resources (AST)