Ascent Resources Regulatory News (AST)

10 Nov 2005 13:55

Ascent Resources PLC10 November 2005 Ascent Resources plc / Epic: AST / Index: AIM / Sector: Oil and Gas 10th November 2005 Ascent Resources plc ("Ascent" or "the Company") Directorship Changes Ascent Resources plc, the AIM traded oil and gas exploration and productioncompany, is pleased to announce that Mr. Patrick Heren has been appointed to theBoard as a Non Executive Director. Mr. Hugh Warner, a founding director whohelped guide the Company through its early stages, has stepped down from theBoard to pursue his other business interests. Mr. Heren is a leading energy commentator and consultant, with nearly 30 yearsexperience of competitive energy markets. He is widely known as an authoritativeanalyst of the British and European gas markets and has also been engaged as astrategic commercial advisor on a number of important LNG and pipeline gascontracts. Mr Heren's company, Heren Energy, publishes the most widely used price indicesfor European gas and power. The Heren Index was the first independent priceindex for the competitive gas market in Britain. Its scope has subsequently beenextended to cover European gas and power. It remains an important contractreference price and is used by governments and regulators and appears in the BPStatistical Guide to World Energy. Prior to this Mr. Heren worked as a specialist energy journalist for EnergyIntelligence for which he designed, launched and edited the influentialnewsletter World Gas Intelligence. Earlier he had been instrumental inestablishing Petroleum Argus' oil market report. Ascent's Chairman David Steinepreis commented: "Patrick's experience andknowledge of the resource sector, particularly gas, means that he will be animportant addition to the Board as we take the business into its nextdevelopment phase. We understood the need to create a complementary team with arange of technical expertise and Patrick will be invaluable particularly when westart producing and selling into local markets. I would also like to take thisopportunity to thank Hugh for his help creating a company that we believe has astrong foundation from which to build." Mr. Patrick Anthony Francis Heren, aged 53, is a director, or has been adirector, of the following companies during the previous five years: Current Directorships:Heren Energy Ltd.Millennium Quay Management Company Limited Directorships held within the previous five yearsAid To The Church In Need (United Kingdom) There are no other matters which are required to be announced with regard tothis appointment under paragraph (f) of Schedule 2 of the AIM Rules. Mr. Heren has been granted 500,000 options to subscribe at 11.5p per share(yesterday's closing price) for new ordinary shares in the Company, exercisablefrom 10th November 2005 until 9th November 2010. * * ENDS * * Contacts: Jeremy Eng Ascent Resources plc Tel: 020 7251 4905Hugo de Salis St Brides Media & Finance Ltd Tel: 020 7242 4477 This information is provided by RNS The company news service from the London Stock Exchange