Drilling Update

Ascent Resources PLC
14 May 2007

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



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

                                Drilling Update



Ascent Resources plc, the AIM traded oil and gas exploration and production
company, through its Hungarian subsidiary PetroHungaria kft has completed the
drilling of PEN-102, its third well in the Nyirseg exploration permits of north
east Hungary and is suspending the well pending a decision on further
operations.



PetroHungaria kft (a 90% owned subsidiary of Ascent) with partners DualEx and
Petro Pequnia drilled the PEN-102 well to its planned total depth of 1,500m.
Drilling and logging results indicated that the well had intercepted a fault
system and consequently the target Miocene tuffaceous formations were
encountered 38m deeper than prognosis.  Only residual gas was present in this
deeper section of the reservoir.  To accurately define the orientation of the
fault system, an offset vertical seismic profile (well seismic survey) has been
recorded.  The purpose of this survey is to enable a sidetrack well to be
planned with the objective of entering the Miocene gas reservoir in a more
favourable position.



The PEN-102 well is the third of four wells drilled under the farm-in agreement.
  PetroHungaria's partners, DualEx of Canada and Petro Pequnia of Sweden will
earn working interests in the Nyirseg exploration permits of 37.5% and 2%
respectively, by paying 75% and 4% of the costs of these wells.  PetroHungaria
funds the remaining 21% for a retained 60.5% working interest.  Over the next
week, the drilling rig will move to the last of the four farm-in wells, VAM-1, a
gas exploration well designed to test exploration prospects in both the Miocene
and Pannonian formations in the Vamospercs area, some 14km further south west of
PEN-102.



Ascent's Managing Director Jeremy Eng said, 'A successful sidetrack of the
PEN-102 could yet add reserves to the planned Peneszlek development in Hungary,
which includes the PEN-104 discovery and other proven reserves in PEN-9 and
PEN-12.



'Whilst the processing of the well seismic is on-going, our consortium will
drill the VAM-1 well and continue planning the further exploration activities in
the Nyirseg permits.  These two permits cover over 2,000 km2 and so far only
about 30% of the area has been examined in detail.'



In Italy, mobilisation of the drilling rig back to the Anagni-1 well has been
delayed by about two weeks, while awaiting receipt of authorisation from the
Governmental Authorities to deepen the well.  A further announcement will be
made when the rig is ready to commence operations.



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



This notice is timed for simultaneous release in both London and Toronto.



                                  * * 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 over 20 gas and oil projects 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 exploration wells across its portfolio.  The Company operates
Spain's only onshore oilfield where production currently averages over 110
barrels of oil per day. With the stable European gas market, Ascent's portfolio
favours gas over oil. 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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