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Anagni Seismic - Preliminary

9 Sep 2008 07:00

RNS Number : 9901C
Ascent Resources PLC
09 September 2008
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ο»Ώ

Ascent Resources plc / Epic: AST / Index: AIM / Sector: Oil and Gas

9thΒ September 2008

Ascent Resources plc ("Ascent" or "the Company")

AnagniΒ SeismicΒ -Β Preliminary Results

Β 

Ascent Resources plc, the AIM-traded oil and gas production and exploration company, has received the preliminary results of the seismic acquisition programme on the Frosinone Exploration Permit in the Latina Valley, onshore Italy.Β The 31 km of new 2-D seismic data indicated that the structure drilled last year by the Anagni-1 well continues up dip in an easterly direction. The new seismic data is of better quality than the previous data acquired in 1980 and 1982 and provides acceptable imaging of the shallower geological horizons, which could not be resolved with the original seismic.

Ascent Managing Director JeremyΒ Eng said,Β "These results from the new seismic are encouraging and planning for the drilling of anotherΒ Anagni appraisal well canΒ now start. Although the work loadΒ ofΒ the Perazzoli rigsΒ (Ascent 22.5%) remainsΒ high, as the permitting process proceeds,Β we would hope that we will be able to confirmΒ theΒ availability of a drilling unit in the near future."

The information contained in this announcement has been reviewed and approved byΒ Eloi Dolivo, Ascent's Senior Exploration AdvisorΒ whoΒ hasΒ 28Β years relevant experience in the oilΒ and gasΒ industry.

* * ENDS * *

For further information visitΒ www.ascentresources.co.ukΒ or contact:

Jeremy Eng

Ascent Resources plc

Tel: 020 7251 4905

Hugo de Salis

Victoria Thomas

St Brides Media & Finance Ltd

St Brides Media & Finance Ltd

Tel: 020 7236 1177

Tel: 020 7236 1177

Max Hartley

Cenkos Securities plc

Tel: 020 7397 8924

Notes

Ascent Resources plc has a diversified portfolio of some 20 hydrocarbon exploration and development projects across five countries in Europe: Italy, Switzerland, Hungary, Slovenia and Netherlands.Β Ascent’s portfolio contains a solid base of field redevelopment projects with selected exposure to exploration upside.Β The portfolio is focussed on gas and with the exception of the shallow water Netherlands project, all of its projects are located onshore where operating and development costs are substantially lower than they are offshore.
This information is provided by RNS
The company news service from the London Stock Exchange
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