Ascent Resources Regulatory News (AST)

9 Jun 2006 11:16

Ascent Resources PLC09 June 2006 Ascent Resources plc / Epic: AST / Index: AIM / Sector: Oil and Gas 9th June 2006 Ascent Resources plc ('Ascent' or 'the Company') Appointment of Joint Broker Ascent Resources plc, the AIM listed oil and gas exploration and productioncompany, has appointed Hichens, Harrison & Co. plc as joint-broker to theCompany with immediate effect. * * ENDS * * Contacts Jeremy Eng Ascent Resources plc Tel: 020 7251 4905Hugo de Salis St Brides Media & Finance Ltd Tel: 020 7242 4477 Notes Ascent Resources has an extensive portfolio of over 20 oil and gas projectsacross six countries in Europe. These include an 88% interest and operatorshipof the only onshore Spanish oilfield which produces over 100 barrels of oil perday. Ascent's other projects are in Italy, the fourth biggest Europeanhydrocarbon's producer, Switzerland, Hungary and Romania, as well asapplications offshore Holland and minor assets in Gabon. Starting late thissummer Ascent will drill six exploration wells, two each in Hungary, Spain andItaly. High impact gas exploration wells in the Po Valley in Italy and inSwitzerland are planned for 2007. The Company will also participate in up tofour non-operated exploration wells in Romania. With the strong and stable European gas market, the Company's portfolio isbalanced in favour of gas over oil, and with the exception of Holland, projectsare located onshore where operating and development costs are very much lessthan they are offshore. In parallel with acquiring the oil and gas assets, the Company has appointed tothe Board a team of experienced directors who are specialists in the Europeanenergy business and each of whom has expertise and experience in commercialisingenergy assets. This information is provided by RNS The company news service from the London Stock Exchange