Ascent Resources Regulatory News (AST)

Ascent Resources plc

("Ascent" or the "Company")

Issue of Equity

Ascent Resources plc, the AIM quoted European oil and gas exploration and production company, has received a notice of exercise ("the Notice") to convert 795,405 convertible loan notes of £1 each:

- 573,183 of which were issued in May 2013 as part of an open offer to all shareholders (the "2013 Loan Notes") and the terms of which were amended in February 2015 and October 2016. The 2013 Loan Notes, including rolled up interest, are convertible into new Ordinary Shares at a rate of 100 new Ordinary Shares per £1 loan note.

- 222,222 of which were issued to Henderson Global Investors and EnQuest plc between February 2014 and July 2015 (the "2014 Loan Notes") and the terms of which were amended in February 2015 and October 2016. The 2014 Loan Notes, including rolled up interest, are convertible into new Ordinary Shares at a rate of 100 new Ordinary Shares per £1 loan note.

Consequently, a total of 88,191,847 new Ordinary Shares ("the Conversion Shares") will be issued pursuant to the Notice, following which £1,268,477 nominal convertible loan notes (including rolled-up interest) remain outstanding.

Admission and Settlement

Application has been made for the admission to trading on AIM of the Conversion Shares ("Admission"). Admission is expected to occur on 21 July 2017. Following Admission, Ascent will have 2,025,755,021 Ordinary Shares in issue. There are no shares held in treasury. The total voting rights in the Company is therefore 2,025,755,021 and Shareholders may use this figure as the denominator by which they are required to notify their interest in, or change to their interest in, the Company under the Disclosure Guidance and Transparency Rules.

Enquiries:

Ascent Resources plc 0207 251 4905

Clive Carver, Chairman

Colin Hutchinson, CEO

Stockdale Securities Limited, Nominated Adviser and Joint Broker 0207 601 6100

Richard Johnson

Edward Thomas

Northland Capital Partners Limited, Joint Broker 0203 861 6625

Tom Price

Abchurch, Financial PR and IR 0207 398 7700

Tim Thompson