Ascent Resources Regulatory News (AST)

18 Apr 2005 07:00

Ascent Resources PLC18 April 2005 Ascent Resources Plc ('Ascent' or 'the Company') Notice of EGM and Expansion of Technical Team Ascent Resources Plc, the AIM listed oil and gas exploration and productioncompany, today announces that it will hold an Extraordinary General Meeting atthe offices of Sprecher Grier Halberstam LLP, 30 Farringdon Street, London EC4A4HJ at 10.00 a.m. on 11 May 2005. The meeting is being convened to consider the Company's proposal to increase thedirectors' authorities to allot shares and to disapply pre-emption rights.Copies of the notice have been sent to the shareholders and will also beavailable free of charge from the offices of Nabarro Wells & Co. Limited,Saddlers House, Gutter Lane, London EC2V 6HS for a period of 30 days from thedate of this announcement. Furthermore, as part of its growth strategy, Ascent has strengthened itstechnical team. Managing Director Jeremy Eng, who has a Masters in petroleumengineering and over 23 years of oil & gas industry, is joined on a retainerbasis by Eloi Dolivo, Malcolm Groom, Mike Lakin, and Joe Staffurth, all highlyrespected and experienced industry professionals. Eloi Dolivo has over 25 years in the oil and gas industry, working for amongstothers Shell Worldwide, Fina in Gabon and Italy, Petroconsultants (now IHS) andNimir. Since 2001 he has been a consultant for Petroleum Geoscience working fora whole range of European oil and gas companies. Prior to this he has held anumber of management and consultancy positions with companies including LundinSudan Ltd and Nimir Petroleum Company North Africa Ltd. Malcolm Groom is an experienced energy lawyer having previously been head ofboth Denton Hall and Norton Rose energy groups. He was a co founder and managingDirector of Consort Resources founded in 2000 which was sold in 2002 toCaledonian. He is now a consultant to a number of foreign governments on legalmatters concerning the oil industry. Mike Lakin is a trained Geologist with over 16 years oil industry experience. In1999 he founded Envoi, an independent advisory group established to assistinternational oil and gas industry clients facilitate the buying and selling ofpredominantly upstream opportunities including oil and gas exploration andproduction projects. Previously, he spent ten years as Technical and thenGeneral Manager with the Petresearch Group. Joe Staffurth has over 23 years industry experience including work in Europe,the Middle East, South America and Canada. Trained as a geologist, he has gainedstrong technical and commercial background while working for Esso and Petrofina.He is currently Managing Director of JSI Services, a dedicated consultancybusiness focussed on the analysis of exploration farm outs and divestment data,which in essence supports an oil company's deal flow activity. Ascent Resources Plc Managing Director Jeremy Eng said: "From a strong technicalbase, we have already secured a number of significant oil and gas projects inEurope and Africa. Due to the nature of our operation and technical experiencewe are being introduced to a number of projects that offer significant potentialto build shareholder value. We are excited about the future and look forward tobuilding Ascent in a significant oil and gas exploration and production company." * * ENDS * * Issued on behalf of Ascent Resources Plc by St Brides Media & Finance Ltd, 46,Bedford Row, London, WC1R 4LR. Contacts:Jeremy Eng Ascent Resources Plc Tel: 020 7251 4905Hugo de Salis St Brides Media & Finance Ltd Tel: 020 7242 4477 Notes:Ascent Resources Plc, listed on AIM in November 2004, was established to operateand participate in oil and gas projects primarily in Europe and Africa. TheCompany considers the full spectrum of projects covering exploration, earlystage development and production. Its portfolio of projects already assembledinclude: Gabon, West Africa (12.86% stake) - offshore and shallow water oilexploration; Hungary (90% stake) - JV with Hungarian operator GeoMega, which hasfour projects including two existing concessions with proven gas; Switzerland(90% stake) - JV with SEAG, exploring two oil and gas projects in Molasse Basin;and Holland (90% stake) - JV with GTO, which is a North Sea gas play. TheCompany has a strong technical team with extensive industry experience toevaluate and progress projects that potentially offer high capital growth andsignificant ROI. This information is provided by RNS The company news service from the London Stock Exchange