13/06/11
Ascent Resources shares advanced 10 percent higher on AIM this morning after it unveiled more drilling success in Slovenia. It told investors that it has successfully completed drilling the Pg-11A well with encouraging results as it found a new deeper gas reservoir.
24/02/11
Broker Fox-Davies reckons investors have missed a trick and the company's current valuation is out of whack with its prospects. "The market is either over-discounting for the technical risks of this project or not willing to recognise at least the risked valuation of the asset, until a firm development plant has been completed or possibly of an actual production well is underway,” says analyst Lionel Therond.
16/02/11
The AIM-listed oil firm has completed the initial drilling phase on its first well on the Petişovci project in Slovenia. It found gas in all six target reservoir intervals and even uncovered a ‘bonus’ gas find in the deeper depths of the well. The rig is now on standby for a production sidetrack. The news was welcomed by investors and analysts alike.
09/11/10
The company will shortly start drilling the first well at the Petişovci-Lovaszi gas prospect in Slovenia. If the current P50 reserves estimate of 412 billion cubic feet gas-in-place are proved up, then Petişovci-Lovaszi will be one of the bigger onshore gas fields in Europe - and could prove to be a company-making asset.
13/10/10
Shares surged over 25% on the open, as investors welcomed an independent report on the Petisovci-Lovaszi project. RPS Energy estimates that the tight gas reservoirs contain 412Bcf of gas (68.7 million barrels of oil). The company is looking to spud an evaluation well in November.
