Proactive investorsLogo Proactive Investors UK Website

Search field
Get Adobe Flash Player Download
Flash
Player ►

And
Enable
Javascript

1 year chart

digital-look imported chart image

1 day chart

digital-look imported chart image
Additional information
Additional Information
Market: AIM
Sector: Oil & Gas Exploration & Production
Epic: AST
News: Latest news
Web Site: Ascent Resources
Other Articles: 13-07-201001-07-201018-05-2010 
Warning (2): curl_setopt() [function.curl-setopt]: CURLOPT_FOLLOWLOCATION cannot be activated when in safe_mode or an open_basedir is set [APP/models/web_model.php, line 120]

RSS - Subscribe to the News Today on Proactive UK ▼

Thursday July 29, 09:30Specialist Energy Group Lays Out a Compelling Blueprint for Growth

After a difficult start to life as a stock market listed company, the company now stands at the threshold of a much brighter future. Legacy issues have been dealt with and the turnaround programme initiated by CEO Ewan Lloyd-Baker is gaining traction.

FULL ARTICLE ► 
Warning (2): curl_setopt() [function.curl-setopt]: CURLOPT_FOLLOWLOCATION cannot be activated when in safe_mode or an open_basedir is set [APP/models/web_model.php, line 120]

RSS - Subscribe to the News Today on Proactive AU ▼

Wednesday July 28, 11:30Silver Lake Resources boosts high grade gold resource by 70% to 2.5m ounces

Silver Lake Resources has added over 1 million ounces of gold to its resource inventory during the year after mining 66,700 ounces and expects further encouraging results at its  Mount Monger and Murchison projects.

FULL ARTICLE ► 
Warning (2): curl_setopt() [function.curl-setopt]: CURLOPT_FOLLOWLOCATION cannot be activated when in safe_mode or an open_basedir is set [APP/models/web_model.php, line 120]

RSS - Subscribe to the News Today on Proactive CN ▼

Thursday July 15, 02:10Henan Yuguang Lead & Gold investment in Kimberley Metals receives all clear from FIRB

Kimberley Metals (ASX: KBL) has reported that on 12 July the Australian Government Foreign Investment Review Board (FIRB) had no objections to Henan Yuguang Lead & Gold Co. Ltd's [...]

FULL ARTICLE ►
Ascent Resources

Ascent Resources

Ascent Resources plc is an independent, multi-project, European focussed oil and gas exploration and production company. Its portfolio is balanced 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. Licences are held in Hungary, Slovenia, Italy, Switzerland and The Netherlands.

CLICK HERE FOR FULL ANLAYSIS OF ASCENT RESOURCES
Wednesday, March 10, 2010

Ascent Resources to commence production to sales from PEN-101 after successful tests

Ascent Resources (AIM: AST) has tested and completed the PEN-101 well in the Peneszlek area of the Nyrsieg exploration permits in eastern Hungary, which will commence production to sales immediately following the departure of the rig during the week of 15 March.

Initial production rates achieved during preliminary testing exceeded 1.0 MMscfd (million standard cubic feet per day), and productivity is expected to be improved in the coming days by the use of small scale acid stimulation, similar to that previously used with positive results on the PEN-105 well.

The rig will then move to the PEN-104 location to continue the testing of the PEN-104AA sidetrack and, subsequently will continue drilling the PEN-106 well, which targets a structure that is similar to that proven by the PEN-105 well.

Leni Gas & Oil (AIM: LGO) has recently announced the relinquishment of its interest in the project, which has been distributed among the remaining project partners in proportion to their prior interest in the project at no additional cost. Ascent currently holds a 48.776% project interest, and a revenue interest and cost share of 51.654% and 53.381% respectively in wells PEN-101 and PEN-106.

“The recommencement of production in the coming days and the increased share of revenue that Ascent and its partners now stand to gain following LGO's decision to exit the project is an excellent outcome for Ascent...these types of projects benefit from low development and production costs, and with deregulated gas prices, provide a relatively high return on investment,” said managing director of Ascent Jeremy Eng.

Broker Astaire Securities said that progress has been in line with expectations as while the flow rates achieved from PEN-101 were lower than those in PEN-105, the well still is a commercial producer.

“Peneszlek will drive revenue growth through our forecast period, and we expect further updates to provide important short term newsflow.  Ascent’s increased working interest is beneficial, and it is also reassuring to hear that the Fontana-1 well onshore Italy continues to drill ahead, with an update expected shortly,” said the note.

The company said it will soon provide an update on the re-drill of the Fontana-1 well in Italy, which is currently drilling ahead at a depth of over 400 metres.

Shares in Ascent resources rose nearly 5% on the update.

AddThis Feed Button
Register here to be notified of future Ascent Resources articles.

Other Ascent Resources news

More news ►

Investors interested in Ascent Resources recently viewed


No investment advice

The Company is a publisher and is not registered with or authorised by the Financial Services Authority (FSA). You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.