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 1,535,039 convertible loan notes of £1 each;

- 275,780 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.

- 1,259,259 of which were issued to Henderson Global Investors in February 2014 (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 165,004,489 new Ordinary Shares ("the Conversion Shares") will be issued pursuant to the Notice, following which £6,498,288 nominal convertible loan notes (including rolled-up interest) remain outstanding. This figure includes the 2016 Loan Notes pursuant to the Placing announced on 27 October 2016 on which there are £50,000 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 6 February 2017. Following Admission, Ascent will have 1,349,078,713 Ordinary Shares in issue. There are no shares held in treasury. The total voting rights in the Company is therefore 1,349,078,713 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

IFC Advisory Ltd, Financial PR and IR 0203 053 8671

Graham Herring

Tim Metcalfe

Heather Armstrong