Acquisition

Ascent Resources PLC
14 February 2006



      Ascent Resources plc / Epic: AST / Index: AIM / Sector: Oil and Gas


14th February 2006


                Ascent Resources plc ('Ascent' or 'the Company')
          Increases Interest in Ayoluengo Oil Field in Spain to 88.75%


Ascent Resources plc, the AIM listed oil and gas exploration and production
company, has entered into an agreement to acquire a further 25% interest in the
producing Ayoluengo oil field in the Sedano Basin in Northern Spain for €300,000
in cash and shares.  The agreement, which is with Petroleum Oil and Gas Espana
('POGE') and is subject to regulatory approval, will take Ascent's beneficial
interest in the field to 88.75%.  The remaining 11.25% is held by Gold Oil plc.



The average purchase price of Ascent's 88.75% interest in the field is slightly
over US$6.00 per barrel of reserves. Ascent has already begun engineering
studies for an investment programme designed to increase the production rate of
the field, which as announced, recently averaged 115 barrels of oil per day.



Ascent Resources' Managing Director Jeremy Eng said: 'While we continue
preparations for our multi-well exploration programme scheduled for later this
year, we will continue to acquire assets that have the ability to provide
significant value for shareholders. Our objective is to increase production in
Spain.  The cash-flow from Ayoluengo covers the Company's overhead and also
contributes to our exploration programme.'



Jeremy Eng has a Masters Degree in petroleum engineering and more than 24 years
of oil & gas industry experience. He has reviewed the statements in this
announcement.


                                  * * ENDS * *


Contacts:

Jeremy Eng            Ascent  Resources plc              Tel: [phone]
Hugo de Salis         St Brides Media & Finance Ltd      Tel: [phone]



Notes

Ascent Resources plc has assembled an extensive portfolio of oil and gas
exploration and production assets across Europe since March 2005.  These assets
include oil production from the Ayoluengo Field of northern Spain along with
nearby oil and gas exploration, oil and gas exploration in Switzerland and
Italy, gas exploration and tight gas reservoir re-development in Hungary, as
well as an exploration application offshore Holland and minor assets in Gabon.



With the strong European gas market, the Company's portfolio is balanced in
favour of gas over oil.  Over the next 12 months, six exploration wells are
planned: two in Spain, two or three in Italy and one or two in Hungary.
Permitting of these wells has commenced.



In parallel with acquiring the oil and gas assets, the Company has appointed to
the Board a team of highly experienced directors who are specialists in the
European oil and gas business and each of whom have expertise and experience in
commercialising hydrocarbon, but particularly gas, assets.






                      This information is provided by RNS
            The company news service from the London Stock Exchange                RUAAR