Finally we are back on track.21 Feb 2026 08:02
Ascent Resources soars as it acquires helium opportunity in Utah and Colorado
Ascent Resources PLC (AIM:AST) shares jumped in Friday’s early deals as it became the latest small-cap explorer to latch itself to the helium bandwagon.
Acquiring a 49% interest in ‘helium-rich’ acreage in Utah and Colorado, for $2 million ($1.75 million cash and $250,000 of premium-priced shares), gives the firm a new lease of life and adds a fresh pipeline of potential catalysts for small-cap speculators.
The acreage comprises mature hydrocarbon fields, presently hosting around 18 billion cubic feet of gas reserves and just shy of 3 million barrels of oil – with a helium play attached.
“Our new investment into upstream acreage secures Ascent's direct interest in material proven reserves which has significant behind pipe and step out as well as exploration upside and gives access to valuable natural gas reserves which can be produced from high helium producing zones within the acreage,” chief executive Andrew Dennan said in a statement.