Ascent Resources Plc (LON:AST) has told investors it has had the all clear after an appeal against a planned gas treatment facility in Slovenia was dismissed.
The appeal was related to an award of an IPPC permit tied to the Petisovci gas field, and it was dismissed as “being without merit”, Ascent said in a statement.
Moreover, the company noted that the appeal was “lodged with the Environment Minister by an individual who has delayed the application at every available opportunity on grounds which have consistently been rejected by every ruling body.”
It added: “It is open to this individual to further appeal to the court. However, in the view of the Ascent board any further appeal would continue to be detrimental to the Slovenian economy and will only serve to delay the significant investment, which Ascent and its partners wish to make in the region.”
Ascent chief executive Colin Hutchinson said: “I am very pleased that the Permit application has passed yet another hurdle and the project has been endorsed once again by the Slovenian authorities; I hope that common sense will prevail and no further appeal is made but in the event this does again come before the court we firmly believe that they will uphold the issue of the IPPC permit."