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Anagni-1 Log Results

16 Jul 2007 07:01

Ascent Resources PLC16 July 2007 Ascent Resources plc / Epic: AST / Index: AIM / Sector: Oil and Gas 16 July 2007 Ascent Resources plc ('Ascent' or the 'Company') Anagni-1 Log Results Ascent Resources plc, the AIM traded oil and gas exploration and productioncompany, has completed logging operations in the Anagni-1 well located in theFrosinone Exploration Permit in the Latina Valley in Italy. The results oflogging and core sampling are encouraging and now a production test over a 450metre section of potential reservoir is planned. The Anagni-1 well has been deepened from 971 metres to a current total depth of1,355 metres. As previously, total loss of circulation was experiencedthroughout and the only rock samples recovered to surface were four cores, whichall had traces of oil. These are detailed below. The analysis of log data indicates that the complete section is drilled in acontinuous limestone with extensive dolomitised zones totalling over 140 metreswithin the 450 metres gross thickness. Porosity in the dolomite frequentlyexceeds 10%. From the core data, the limestones area of Miocene and lateCretaceous age. The core samples recovered to surface were from the intervals as detailed below. Core Depth Recovery 1 1,073 to 1,089 m 33% 2 1,100 to 1,106 m 100% 3 1,200 to 1,206 m 95% 4 1,349 to 1,355 m 30% Subject to the necessary approvals, it is planned to complete the well with adownhole pump and to test it over the coming weeks. The pump is necessary torecover substantial quantities of mud and water lost while drilling. Before thetest commences it is planned to move the drilling rig to the nearby Fiume Arroneexploration permit where the Arrone-1 gas exploration well is to be drilled. Ascent has an 80% interest in the Frosinone exploration permit and Pentex ItaliaLimited has a 20%interest. Ascent's Managing Director Jeremy Eng said, "The results that we have from thiswell to date are promising and as we had anticipated, the geological provenanceof this area is good. The nearest proven oil is 45km to the south east andeverything between that and Anagni-1 is within the Frosinone Exploration Permit,which we believe has the possibility to contain a number of similar structures." The information contained in this announcement has been reviewed and approved byDr Eloi Dolivo, Ascent's Exploration Manager and Dr Clive Ninnes, Ascent'sEngineering Manager. Dr Dolivo (member of the AAPG) and Dr Ninnes (member ofSPE) both having 26 years experience in the evaluation of hydrocarbon resources. * * ENDS * * For further information visit www.ascentresources.co.uk or contact: Jeremy Eng Ascent Resources plc Tel: 020 7251 4905 Hugo de Salis St Brides Media & Finance Ltd Tel: 020 7242 4477 Notes: Ascent Resources has a portfolio of over 20 gas and oil projects across sixcountries in Europe. The projects are onshore in Italy, Switzerland, Hungary,Spain, Slovenia and offshore Netherlands. The Company operates Spain's onlyonshore oilfield where production currently averages over 110 barrels of oil perday. With the stable European gas market, Ascent's portfolio favours gas overoil. With the exception of the Netherlands, all of its projects are locatedonshore where operating and development costs are substantially lower than theyare offshore. This information is provided by RNS The company news service from the London Stock Exchange
Date   Source Headline
30th Apr 201311:28 amRNSResult of EGM and Open Offer
29th Apr 201312:57 pmRNSForm 8.3 - Ascent Resources PLC
26th Apr 20132:41 pmRNSForm 8.3 - [Ascent Resources PLC]
25th Apr 20137:00 amRNSDisposal of interest in PetroHungaria Kft
24th Apr 201311:59 amRNSForm 8.3 - Ascent Resources PLC
24th Apr 201310:02 amRNSForm 8.3 - Ascent Resources PLC
12th Apr 20137:00 amRNSOpen Offer and Notice of General Meeting
21st Mar 201312:16 pmRNSForm 8.3 - Ascent Resources PLC
22nd Feb 201311:05 amRNSForm 8.3 - [Ascent Resources PLC]
18th Feb 201310:19 amRNSForm 8.3 - Ascent Resources PLC
15th Feb 20131:32 pmRNSForm 8.3 - Ascent Resources PLC
12th Feb 20137:00 amRNS£10 million Financing Facility Agreed
11th Feb 201310:34 amRNSForm 8.3 - [Ascent Resources PLC]
25th Jan 20133:00 pmRNSForm 8.3 - [Ascent Resources PLC]
24th Jan 20134:22 pmRNSForm 8.3 - Ascent Resources PLC
16th Jan 201310:34 amRNSForm 8.3 - Ascent Resources PLC
9th Jan 201312:02 pmRNSForm 8.3 - Ascent Resources PLC
28th Dec 201212:25 pmRNSForm 8.3 - Ascent Resources PLC
24th Dec 20127:00 amRNSConvertible Loan Note Issue
19th Dec 20123:27 pmRNSStatement Re Farm-In
17th Dec 201212:59 pmRNSForm 8 (OPD) - Ascent Resources Plc
14th Dec 20122:53 pmRNSBoard Change
11th Dec 201210:16 amRNSForm 8.3 - Ascent Resources plc
4th Dec 201212:20 pmRNSForm 8.3 - [Ascent Resources Plc]
4th Dec 201210:45 amRNSForm 8.3 - Ascent Resources plc
3rd Dec 20127:00 amRNSStrategic Alternatives Process and Offer Period
26th Oct 20127:00 amRNSStatement re. Press Speculation
9th Oct 20121:52 pmRNSBNPP Credit Facility Update
27th Sep 20127:00 amRNSHalf Yearly Report
23rd Aug 20127:00 amRNSAppointment of CEO and Management Changes
27th Jul 20128:24 amRNSFinancing Update
10th Jul 20127:00 amRNSPeneszlek Operational Update
28th Jun 20124:10 pmRNSPosting of Annual Report and Accounts
27th Jun 20123:17 pmRNSResult of AGM
15th Jun 201211:22 amRNSHolding(s) in Company
30th May 20127:00 amRNSFinal Results
29th May 20123:40 pmRNSBNP Paribas Credit Agreement
22nd May 20129:34 amRNSHolding in Company
15th May 20124:13 pmRNSHolding in Company
27th Apr 201210:30 amRNSHolding in Company
18th Apr 20127:00 amRNSPositive Drilling Results in Eastern Hungary
13th Apr 201211:52 amRNSCorrection - Holding in Company
13th Apr 20127:00 amRNSHolding(s) in Company
21st Mar 20127:00 amRNSPenészlek Operations Update
24th Feb 20122:44 pmRNSHolding(s) in Company
23rd Feb 20127:00 amRNS22% Increase in Gas-in-Place for Petisovci Project
12th Dec 201111:42 amRNSDirector/PDMR Shareholding
25th Nov 20117:00 amRNSHigh Gas Flows from Successful Pg-10
11th Nov 201112:15 pmRNSHolding(s) in Company
11th Nov 20118:11 amRNSHolding(s) in Company

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