Drilling Update

Ascent Resources PLC
29 January 2007




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


                Ascent Resources plc ('Ascent' or 'the Company')
               To Re-Enter Anagni-1 Well Following Oil Discovery


Ascent Resources plc, the AIM-traded oil and gas exploration and production
company, has temporarily completed the Anagni-1 well as an oil discovery after
log and core data indicated that the well has drilled into an oil reservoir.
Ascent with a 70% interest and its operating partner Pentex Italia Limited (30%)
is drilling the Anagni-1 well in the Frosinone Exploration Permit which is
located in the Latina Valley some 80km east-south-east of Rome.

Anagni-1 was designed as a stratigraphic (geological research) well to test for
the presence of the Carbonate platform of the Northern Apennine Thrust.  The
Carbonate platform was encountered at 865m and after drilling a further 40m in
to the limestone, oil shows were observed in the cuttings.  Total lost
circulation at 921m confirmed the presence of reservoir quality rock and a 5m
core that was then taken below the lost circulation zone was recovered with oil
present in open fractures.  After coring, the well was drilled down to 971m
still in the carbonates and electric logs confirmed the presence of fractures
throughout this section.

The well has been temporarily completed to allow for the procurement of
additional equipment to enable the well to be deepened to c.2,000m to
investigate the complete Carbonate sequence and also for the planning and
preparation of the testing operations necessary to evaluate this oil reservoir.

In the meantime, the drilling rig will be moved to Spain to drill the Hontomin-4
appraisal well in the Huermeces Exploration Permit (Ascent 50%).

Ascent Resources Managing Director Jeremy Eng said, 'Finding the top of the
oil-prone Carbonates close to our anticipated depth and much shallower than in
the nearby Gavignano-1 well was encouraging.  Then to drill reservoir quality
rocks containing oil is a fine result.  We are going to deepen Anagni-1 to
quantify this discovery and will proceed as soon as suitable equipment has been
sourced.'

The information contained in this release has been reviewed and approved by Dr
Eloi Dolivo, Ascent's Exploration Manager and Dr Clive Ninnes, Ascent's
Engineering Manager.  Dr Dolivo (member of the AAPG) and Dr Ninnes (member of
SPE) have 26 and 25 years experience respectively in the evaluation of
hydrocarbon resources.



                               * * 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 across five
countries in Europe. The projects are onshore in Italy, Switzerland, Hungary and
Spain 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 two wells are
scheduled for 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 at least 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.




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