Last checked at 20 Oct 2017 07:00
Ascent Resources plc / Epic: AST / Index: AIM / Sector: Oil and Gas
20 October 2017
Ascent Resources plc
("Ascent" or "the Company")
Operational update
The Board of Ascent Resources plc, the AIM quoted European oil and gas exploration and production company, would like to update shareholders on the progress towards commencing export production from the Petišovci asset to INA in Croatia.
On 28 September 2017 the Company advised in its interim statement that the final step in the process was the recertification of the export pipeline by the Croatian government, and that this was expected to be completed shortly.
While this process has taken longer than expected it has successfully moved forward through a number of stages between different government departments and INA.
The final stage is an exchange of signatures between INA and the Croatian authorities which the Company has been advised to expect within a short timeframe.
Once this stage has been completed the Company will begin to export gas production.
Colin Hutchinson, CEO of Ascent, commented:
"All those associated with the project are keen to commence export production as soon as possible and every effort is being made to make this happen."
Enquiries:
Ascent Resources plc Clive Carver, Chairman Colin Hutchinson, CEO
| 0207 251 4905
|
WH Ireland, Nominated Adviser & Broker James Joyce / Alex Bond
| 0207 220 1666 |
Yellow Jersey, Financial PR and IR Tim Thompson / Harriet Jackson / Henry Wilkinson | 0203 735 8825 |