Completion of the Sale and Purchase agreement

24 August 2016

Ascent Resources plc

("Ascent" or the "Company")

Completion of the Sale and Purchase agreement

Ascent Resources plc (AIM: AST), European oil and gas exploration and production company confirms that it has carried out the necessary procedures at the office of the public notary in Ljubljana to complete the purchase of Trameta doo, detailed in the Company's announcement of 1 August 2016.

Completion of the acquisition will allow the Company to move ahead with the work program to recertify the export production pipeline through which Joint Venture gas production will be sold. First gas is expected in early 2017.

Commenting on today's announcement, Colin Hutchinson, CEO, Ascent said:

"I am pleased that the Trameta purchase has been completed without delay. We can now begin to execute the short work program required to commence the production test at Petišovci and I look forward to updating shareholders as we progress towards first gas".

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