Ascent Resources

• 12/12/11

  Director/PDMR Shareholding

• 25/11/11

  High Gas Flows from Successful Pg-10

• 11/11/11

  Holding(s) in Company

• 11/11/11

  Holding(s) in Company

• 02/11/11

  Preliminary Pg-11A Results

• 

  29/11/11

  Ascent Resources mulls options over Petisovci development

  Ascent Resources is to look at debt rather than equity to finance the development of the first two wells on its Petisovci project in Slovenia.

• 

  25/11/11

  Ascent Resources shares soar on better-than-expected flows at Petisovci

  Shares in Slovenia-focused oil and gas explorer Ascent Resources soared by more than 70 per cent as it reported “excellent” results from its latest well on the Petisovci project.

• 

  02/11/11

  November will be a busy month for London’s oil stocks, says finnCap

  In a note today finnCap told clients that the sharp recovery in the equity market means that oil stocks aren’t as undervalued as they were. Attentions are now expected to turn onto high impact drilling results in the exploration and production sector.

• 

  24/10/11

  Ascent Resources backed by investors after better-than-expected Petišovci frac

  With more than a 45 per cent rise in the group’s shares last week it seems investors may be waking up to the potential of Ascent Resources’ the Petišovci project in Slovenia, after a better-than-expected frac job on the Pg-11A well. 

• 

  19/10/11

  Ascent Resources unveils ‘very encouraging’ preliminary frac results from Pg-11A well

  Managing director Jeremy Eng says the results are more than adequate to support the further development of the Petišovci project in Slovenia.

• 12/12/11

  Ascent Resources MD buys shares in firm

• 25/11/11

  Ascent reports "excellent" result from second well in Slovenia

• 02/11/11

  Ascent Resources prepares Pg-11A well for production

• 13/09/11

  Ascent Resources gets licence extension offshore Netherlands

• 07/09/11

  Ascent Resources sees energy prices favourable as interim losses narrow

• 

  29/03/2011

  Ascent Resources One2One Presentation in Dublin - 29th March 2011 (PDF)

  Ascent Resources One2One Presentation in Dublin - 29th March 2011
•  

  04/01/2011

  Jeremy Eng MD of Ascent Resources, talks about shallow oil reserves in Italy

  Jeremy Eng, MD of Ascent Resources, talks about shallow oil reserves in Italy, three discoveries in Switzerland, FTSE 250 EnQuest PLC disposing of its 48.75% stake in the Petişovci Project in Slovenia - for an initial 22.5% equity stake in Ascent, and Hungarian assets generating €600,000 gross a month.
• 

  20/05/2010

  Ascent Resources Investor Presentation 20th May 2010 (PDF)

  Ascent Resources updates investors at the One2One Forum on 20th May 2010
•  

  05/01/2010

  Jeremy Eng, MD of Ascent Resources, talks to Proactiveinvestors
• 

  16/07/2009

  Ascent Resources One2One Investor Presentation 16 July 2009 (PDF)

  Jeremy Eng, Managing Director of Ascent Resources updates investors at the Proactive Investors One2One Forum on 16th July 2009

Ascent Resources plc (LSE:AST) is an independent European focussed oil and gas exploration and production company. Its portfolio consists of a balance of assets providing access to low-risk development and revenue generating production projects, alongside exploration projects with the potential for higher returns. An experienced management team, implementing a defined development programme on primarily onshore projects, provides Ascent with a solid platform to grow and generate value for stakeholders. Ascent has interests in Hungary, Italy, Slovenia, Switzerland and The Netherlands.te value for stakeholders. Ascent has interests in Hungary, Italy, Slovenia, Switzerland and The Netherlands.

Ascent Resources plc is headquartered in London with subsidiaries in Hungary, Slovenia, Italy, Switzerland and The Netherlands;

Balanced portfolio providing access to low-risk development and revenue generating production projects, alongside exploration projects with the potential for higher returns;

European onshore focus provides:

• Cost effective evaluation, development and exploration
• Strong market for production, particularly gas
• Well developed infrastructure
• Stable fiscal, legal and political framework

Ascent is the Operator for most of its projects using local operating entities maximising their expertise

Funding approach is centred on debt/equity funding for development projects and farm-outs for exploration projects to mitigate risk

Ascent has a high calibre board and management team providing a wealth of experience, commercial experience and access to world class technical resources.

STRATEGY

• Pursue low cost onshore oil and gas assets with high upside potential primarily in western and central Europe;
• Prioritise 'Reserve Growth' over production although expecting to be cash flow positive in 2010
• Operate projects utilising 'Local Operating Entities'
• Utilise modern exploration and development techniques -3D seismic use provided 100% success in last 4 wells
• Funding approach centred on debt/equity funding for development projects and farm-outs for exploration projects to mitigate risk
• Disciplined capital management funding approach

For information about Ascent Resources' Environmental, Health, Safety & Social Responsibility Policy click here.

Development & Redevelopment

Nyírség - Penészlek Area Development
Within the NyÍrség exploration permits of eastern Hungary, Penészlek  is a shallow, conventional reservoir, gas production, appraisal and exploration project.

Petişovci - Dolina Project
Ascent Resources Petişovci project is centred around the redevelopment of the tight gas reservoirs of the Petişovci field in south eastern Slovenia. This project has multiple development, appraisal and exploration targets in the tight gas reservoirs as well as in the shallower conventional oil and gas productive horizons.

Strangolagalli - Ripi Redevelopment
Ascent Resources Ripi Oilfield is is a redevelopment project for a very shallow oilfield south-east of Rome in the Latina Valley.  The field has been producing oil since the 1950’s and has been developed without the benefit of seismic.

Lovászi - Petişovci
Ascent Resources Lovászi Project in south-western Hungary is adjacent to the Petişovci Project across the border in Slovenia. Based on the regional 3-D seismic and to be merged with a new acquisition planned for April 2010, this area contains substantial tight gas reserves as well as shallower conventional oil and gas.

Nyírség - Panhandle
In the western part of the Nyirség exploration permits of eastern Hungary, the panhandle-shaped area is a gas production and exploration project targeting shallow conventional reservoirs.

Appraisal

Frienisberg-Seeland - Hermrigen Project
Ascent resources Frienisberg-Seeland project is located in the northern part of the Canton of Bern, with an appraisal well is planned for the Hermrigen gas discovery.  Within the exploration concession substantial additional gas prospects are ready to be explored.

North Sea - Blocks M10/M11
Close to the northern coastline of the Netherlands in shallow water, these two undeveloped gas discoveries were drilled in the 1980’s. An appraisal well will be required to confirm the development of these discoveries.

Frosinone Exploration Permit - Latina Valley
Ascent Resources Frosinone project is located in the Latina Valley mid-way between Rome and the Ripi oilfield. This project is focused on the search for oilfields in the Miocene carbonate platform.

Bern Canton - Linden Permit
Located in the central part of the Canton of Bern, Ascent Resources gas appraisal project is centred on the Linden gas discovery. This well, drilled in 1972, discovered gas in deep Triassic formations.

Exploration

Po Valley - Cento & Bastiglia Exploration Permit
Ascent Resources Cento and Bastiglia exploration permits are adjacent to one another in Italy’s Po Valley and contain multiple gas exploration plays.

Fiume Arrone - Latina Valley
Fiume Arrone is an Ascent Resources gas exploration project on the Latium Coast close to Rome. Situtated close to Fiumicino airport of Rome, the exploration targets are Pliocene biogenically charged gas sands.

East Slovenia - Three exploration permits
New 3-D seismic data covering 200 sq km has been acquired for Ascent Resources three permits in eastern Slovenia. Appraisal wells are planned for 2010  for this exploration joint venture which is to the north of the Petişovci/Lovaszi project.

Concordat Exploration Project - Switzerland
Ascent Resources Concordat project comprises a minority interest in an oil and gas exploration project across 10 Cantons in the north-eastern part of Switzerland.

Gros de Vaud - Switzerland
Ascent Resources Gros de Vaud  oil and gas exploration project is in the Canton of Vaud, north of the city of Lausanne.

John Kenny, Chairman

Jeremy Eng, Managing Director

Simon Cunningham, Executive Finance Director

Nigel Moore, Non-Executive Director

Cameron Davies, Non-Executive Director

Significant Shareholders  

Enquest North Sea BV                                      15.69%

Barclayshare Nominees Limited                          6.12%

TD Waterhouse Nominees (Europe) Limited       5.79%

State Street Nominees Limited                       5.46%

LR Nominees Limited                                       4.28%

Morstan Nominees Limited                               3.82%

HSDL Nominees Limited (IWeb)                          3.47%

Morstan Nominees Limited                               3.30%

HSDL Nominees Limited                               3.28%

% not in public hands  

In so far as the Company is aware, the percentage of shares not in public hands at 08 April 2011 is 0.71%. This figure includes the following holdings by directors:

Cameron Davies                                                0.03%

Jeremy Eng                                                0.58%

John Kenny                                                        0.07%

Nigel Moore                                                        0.01%

Scott Richardson Brown                                        0.02% 

The information on this page is accurate at: 08 April 2011 

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