1st Oct 2018 10:59
LONDON (Alliance News) - Ascent Resources PLC said on Monday that it is confident that the Integrated Pollution Prevention and Control permit will be confirmed in the company weeks.
Shares in the oil & gas company rose 11% at 0.86 pence on Monday.
In addition, due to the planned three-week shut down of the gas processing plant of oil and gas firm INA dd in September for annual maintenance, wells were only in production for seven days.
Estimated total production for the months of September is 229,252 cubic metres at an average daily rate of 32,750 cubic metres per day. This is compared to August production of 727,851 cubic metres at an average production of 23,456 cubic metres per day.
Total revenue to Ascent for September from gas sales is expected to be EUR65,000, with an additional EUR2,500 expected from the sale of condensate.
"I am greatly encouraged by the progress made during September and believe that we are now very close to having the IPPC permit confirmed in the next few weeks," said Chief Executive Officer Colin Hutchinson.
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