Ascent Resources Regulatory News (AST)

Ascent Resources plc

("Ascent" or "the Company")

Placing of shares via Primarybid.com

As announced on 9 March 2015, the Company joined PrimaryBid.com, the online platform dedicated to equity crowdfunding for AIM-listed companies. The Board of Ascent is now pleased to announce that it has raised £550,000 via the placing (the "Placing") of 275,000,000 ordinary shares in the capital of the Company ("Ordinary Shares") at a price of 0.2p per Ordinary Share with investors using the Primarybid.com platform.

The Company will receive £525,250 net of costs. These funds will be used to provide the Company with additional working capital which it will use over the coming quarter as it concludes advanced negotiations with potential sources of additional financing. The Directors are confident that they will receive significant further funds as a result of such negotiations that will allow the Company to develop the project for the foreseeable future, towards cash flow.

Admission of Ordinary Shares

The Company has applied for admission of the 275,000,000 new Ordinary Shares to trading on AIM. Dealings are expected to become effective on 7 May 2015 ("Admission"). Following Admission, the Company will have 1,734,119,459 Ordinary Shares in issue with each Ordinary Share carrying the right to one vote. There are no Ordinary Shares currently held in treasury. The total number of voting rights in the Company therefore will be 1,734,119,459 and this figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the Financial Conduct Authority's Disclosure and Transparency Rules.

Related Party Transaction

PrimaryBid is a trading name of Darwin Strategic Limited ("Darwin") which is regulated and authorised by the Financial Conduct Authority (FCA).

Pursuant to the Placing, the Company will pay to PrimaryBid a commission of 4.5 per cent. of the gross proceeds of the Placing (the "Commission"). PrimaryBid is acting as a broker for this transaction with the Ordinary Shares being placed out to third parties.

Darwin is an investment held by funds managed by Henderson Global Investors.. Funds managed by Henderson Global Investors are themselves substantial shareholders in Ascent, holding in aggregate 12.17 per cent. of the voting rights of the Company and as such is considered to be a related party of the Company for the purpose of the AIM Rules. Darwin is therefore also a related party of the Company for the purpose of the AIM Rules. The payment of the Commission to Darwin therefore constitutes a related party transaction pursuant to AIM Rule 13. The Independent Directors of the Company (being Len Reece, Nigel Moore, Cameron Davies and Colin Hutchinson), having consulted with the Company's nominated adviser, finnCap, consider that the terms of the transaction are fair and reasonable insofar as the Company's shareholders are concerned.

Leonard Reece, CEO of Ascent Resources PLC said:

"We are delighted that investors were able to engage with the Company directly using Primarybid.com. We found the process to be highly efficient and effective and only decided to accept the placing once the size and price were to our satisfaction."

Enquiries:

Ascent Resources plc.

Len Reece / Colin Hutchinson

Tel: +44 (0)20 7251 4905

finnCap (Nominated Adviser and Broker)

Christopher Raggett / Kate Bannatyne

Tel: +44 (0) 20 7220 0500