8th Apr 2019 11:46
LONDON (Alliance News) - Ascent Resources PLC on Monday reported a slight increase in production from its Petisovci field in Slovenia in March, although monthly revenue fell.
Total production was 334,410 cubic metres, with revenue for the month at EUR44,095. This compares with production in February of 311,443 cubic metres with EUR44,513 in revenue.
Ascent shares were trading up 3.3% at 0.28 pence each on Monday around midday.
Ascent has had significant permitting problems in Slovenia in recent years, having applied for an integrated pollution prevention & control permit five years ago. A decision from The Slovenian Environment Agency, or ARSO, is still forthcoming.
Late March, Ascent filed an appeal against a request for an environmental impact assessment after new environment minister came in, Ascent said, with the last one resigning over corruption allegations.
ARSO has requested Ascent provide the environmental assessment for the re-stimulation of wells Pg-10 and Pg-11A at Petisovci.
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