Completion of the Sale and Purchase agreement

RNS Number : 9614H

Ascent Resources PLC

24 August 2016

Ascent Resources plc

("Ascent" or the "Company")

Completion of the Sale and Purchase agreement

Ascent Resources plc (AIM: AST), European oil and gas exploration and production company confirms that it has carried out the necessary procedures at the office of the public notary in Ljubljana to complete the purchase of Trameta doo, detailed in the Company's announcement of 1 August 2016.

Completion of the acquisition will allow the Company to move ahead with the work program to recertify the export production pipeline through which Joint Venture gas production will be sold. First gas is expected in early 2017.

Commenting on today's announcement, Colin Hutchinson, CEO, Ascent said:

"I am pleased that the Trameta purchase has been completed without delay. We can now begin to execute the short work program required to commence the production test at Petišovci and I look forward to updating shareholders as we progress towards first gas".

Enquiries:

Ascent Resources plc

Clive Carver, Chairman

Colin Hutchinson, CEO

0207 251 4905

Stockdale Limited, Nominated Adviser

Richard Johnson

Edward Thomas

0207 601 6100

IFC Advisory Ltd, Financial PR and IR

Graham Herring

Tim Metcalfe