16th Apr 2007 13:01
Ascent Resources PLC16 April 2007 Ascent Resources plc / Epic: AST / Index: AIM / Sector: Oil and Gas Ascent Resources plc ("Ascent" or the "Company") Result of AGM Ascent Resources plc, the AIM listed oil and gas exploration and productioncompany, held its Annual General Meeting today and all resolutions were dulypassed. * * ENDS * * For further information visit www.ascentresources.co.uk or contact: Jeremy Eng Ascent Resources plc Tel: 020 7251 4905 Hugo de Salis St Brides Media & Finance Ltd Tel: 020 7242 4477 Notes: Ascent Resources has a portfolio of over 20 oil and gas projects across sixcountries in Europe. The projects are onshore in Italy, Switzerland, Hungary,Spain, Slovenia and offshore Netherlands. In the current drilling campaign,Ascent has already drilled two wells in Hungary, one of which was a gasdiscovery. The Anagni-1 well, first of two Italian wells, has been temporarilycompleted as an oil discovery and is to be deepened and testing and theHontomin-4 well, the first of two wells in Spain is drilling at present.Starting in May 2007, two gas exploration wells are to be drilled in Hungary.High impact gas exploration wells are planned in the Po Valley in Italy and agas exploration well in Switzerland, subject to permitting and rig availability. Ascent operates Spain's only onshore oilfield where production currentlyaverages over 100 barrels of oil per day. With the stable European gas market, Ascent's portfolio favours gas over oiland, with the exception of the Netherlands, all of its projects are locatedonshore where operating and development costs are substantially lower than theyare offshore. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Ascent Resources