07:00 Mon 11 Mar 2019
Ascent Resources PLC - Permitting update
("Ascent" or the "Company")
Permitting update
On 8 March the
The partners plan to appeal the Decision within the prescribed 15-day period. The key ground for appeal is the fact that all six expert government agencies which ARSO is required to consult as part of the screening assessment process concluded that no EIA should be required on the basis that the project to re-stimulate the wells is not likely to have significant effects on the environment. ARSO is bound to follow the findings of the six agencies since it has not undertaken any independent assessment of the likely impacts of the environment. ARSO has ignored the advice provided by the experts that they consulted.
Since the partners applied for the screening assessment back in
Furthermore, the re-stimulation of gas wells is an activity which has been performed in the Dolina-Petišovci area for over half a century, most recently in 2011, and this is standard procedure adopted in similar fields all around the world. We note that the detailed analysis undertaken by the
We welcome ARSO acknowledging in its Decision that the proposed project cannot be regarded as "fracking" as defined by the
The Company continues to work with legal experts in
Any potential claim for damages will take into account the amount invested by Ascent in the project, currently in excess of
"The Company will appeal this contradictory Decision. The Company has fully complied with the permitting process and received positive expert opinions from all government agencies which the
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