Anagni Seismic - Preliminary

RNS Number : 9901C

Ascent Resources PLC

09 September 2008

 



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

9th September 2008

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

Anagni Seismic - Preliminary Results

Ascent Resources plc, the AIM-traded oil and gas production and exploration company, has received the preliminary results of the seismic acquisition programme on the Frosinone Exploration Permit in the Latina Valley, onshore Italy. The 31 km of new 2-D seismic data indicated that the structure drilled last year by the Anagni-1 well continues up dip in an easterly direction.  The new seismic data is of better quality than the previous data acquired in 1980 and 1982 and provides acceptable imaging of the shallower geological horizons, which could not be resolved with the original seismic.

Ascent Managing Director Jeremy Eng said, 'These results from the new seismic are encouraging and planning for the drilling of another Anagni appraisal well can now start.  Although the work load of the Perazzoli rigs (Ascent 22.5%) remains high, as the permitting process proceeds, we would hope that we will be able to confirm the availability of a drilling unit in the near future.'

The information contained in this announcement has been reviewed and approved by Eloi Dolivo, Ascent's Senior Exploration Advisor who has 28 years relevant experience in the oil and gas industry.

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

Jeremy Eng	Ascent    Resources plc	Tel: [phone]
Hugo de Salis Victoria Thomas	St Brides Media & Finance Ltd St Brides Media & Finance Ltd	Tel: [phone] Tel: [phone]
Max Hartley	Cenkos Securities plc	Tel: [phone]

Notes

Ascent Resources plc has a diversified portfolio of some 20 hydrocarbon exploration and development projects across five countries in Europe: Italy, Switzerland, Hungary, Slovenia and Netherlands. Ascent’s portfolio contains a solid base of field redevelopment projects with selected exposure to exploration upside. The portfolio is focussed on gas and with the exception of the shallow water Netherlands project, all of its projects are located onshore where operating and development costs are substantially lower than they are offshore.

 

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