Acquisition

Ascent Resources PLC
26 February 2007

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


                Ascent Resources plc ('Ascent' or the 'Company')

                 Acquires Nemmoco Slovenia Corporation ('NSC')


Ascent Resources plc, the AIM-traded European oil and gas exploration and
production company, has acquired the entire share capital of Nemmoco Slovenia
Corporation for an initial consideration of €150,000 payable in Ascent shares.
NSC's assets include a 45% interest and operatorship of the Joint Venture that
owns the development rights to the Petisovci Dolina ('P-D') oil and gas fields
and a 15.75% interest and operatorship of the Joint Venture that owns the
development rights to the underlying Petisovci Globoki ('P-G') gasfield.  The
fields are in eastern Slovenia near Lendava, close to the borders of Slovenia,
Austria, Hungary and Croatia.


The oil and gas fields, which were originally discovered in 1942, currently
produce minor amounts of oil and gas. However both P-D and P-G are thought to
have substantial additional reserves as assessed respectively by independent
consultants APA Petroleum Engineering of Calgary, Canada and Troy-Ikoda of
Windsor, UK.  Remaining proven plus probable ('2P') oil reserves in the P-D
reservoirs are estimated to be 10.7 million barrels.  Gas in place in the deeper
P-G reservoirs is estimated to be, at a P50 (50% probability) level, 579 Bcf.


In the deeper P-G gas field, one of the Joint Venture partners, Grove Energy
Limited (AIM:GRV; currently under offer to merge with Stratic Energy
Corporation, TSX-V:SE) reported gas initially in place of 579 Bcf.  Under the
terms of a 2004 farm-in, Grove drilled the D-14 well at its sole cost.  After
three hydraulic fracture stimulation treatments the well produced only minor gas
and water.  Grove returned to the well in 2006 and deepened it to the main gas
producing E-1 reservoir.  Although this E-1 interval had strong gas shows, the
well did not produce from an open-hole test and the well was suspended without a
fracture stimulation.


The consideration for the purchase of NSC is €150,000 payable in Ascent shares
at the average price over 30 days immediately prior to execution.  This is
680,205 shares at 14.82p.  Additionally, there is deferred payment calculated on
the basis of the volume of the future sales gas produced.


Ascent's Managing Director Jeremy Eng said, 'This project has the potential to
provide Ascent with substantial additional reserves.  Development infrastructure
is already in place, and so remaining reserves could be developed at highly cost
effective levels.  Importantly the deferred payment substantially de-risks the
project for the Company.'



                                  * * ENDS * *



For further information visit www.ascentresources.co.uk or contact:

Jeremy Eng           Ascent  Resources plc            Tel: [phone]

Hugo de Salis        St Brides Media & Finance Ltd    Tel: [phone]


Notes

Ascent Resources has a portfolio of 20 oil and gas projects now across six
countries in Europe. The projects are onshore in Italy, Switzerland, Hungary,
Spain, Slovenia and offshore Netherlands.  Ascent is at present drilling a
programme of six exploration wells.  Two have already been drilled in Hungary,
one of which was a gas discovery.  The Anagni-1 well, first of two Italian
wells, has been temporarily completed for future deepening and testing and the
rig is now being assembled on the location of the first of two wells in Spain.
Later in 2007, two more gas exploration wells are to be drilled in Hungary, high
impact gas exploration wells are planned in the Po Valley in Italy, and one well
in Switzerland, subject to permitting and rig availability.


Ascent operates Spain's only onshore oilfield where production currently
averages over 100 barrels of oil per day.



With the stable European gas market, Ascent's portfolio favours gas over oil
and, with the exception of the Netherlands, all of its projects are located
onshore where operating and development costs are substantially lower than they
are offshore.


Nemmoco Joint Venture Partner Groups in Slovenia


    P-D Reservoirs                                     P-G Reservoirs

NSC             45%                                NSC            15.75%

Loon Energy     30%                                Loon Energy    10.50%

Geoenergo       25%                                Geoenergo      25.00%

                                                   Grove Energy   48.75%




Slovenian Reserves Estimates:


Standard to:

World Petroleum Congress (WPC)/ Society of Petroleum Engineers (SPE)



Nemmoco estimates of recoverable reserves from the P-D reservoirs as assessed by
APA Petroleum Engineering of Calgary Canada, as of January 1st, 2003:



Probablistic totals of all reservoir intervals

1P (Proven)      Oil          6.7 MMstb                 Gas      0.04 Bcf

2P (Probable)    Oil         10.7 MMstb                 Gas      0.70 Bcf

3P (Possible)    Oil         17.7 MMstb                 Gas      3.70 Bcf





Estimates of Gas-Initially-in-Place by Troy-Ikoda Limited - Windsor, UK, May
2004



Probabalistic Gas-Initially-in-Place, Bcf



Proven Reservoirs:

                                   P90                 P50                 P10

            D                     33.06               70.54               145.14

            E-1                   51.12               88.15               149.73



Untested Reservoirs

                                   P90                 P50                 P10

            A                     52.71              104.11               172.70

            B                     90.24              164.93               267.61

            C                     41.29               73.68               119.40

            E-2                   44.45               77.55               122.92



Totals of Proven and Untested Reservoirs:

                                   P90                 P50                 P10

                                 312.87              578.96               977.50



Glossary:


MMstb                millions of stock tank barrels

Bcf                  billions of cubic feet of gas at standard temperature and
pressure

P90                  90% probablility of the volumes present exceeding this
amount

P50                  50% probablility of the volumes present exceeding this
amount

P10                  10% probablility of the volumes present exceeding this
amount




                      This information is provided by RNS
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