EnQuest transaction completed

RNS Number : 0934B

Ascent Resources PLC

11 February 2011

 



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

11 February 2011

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

EnQuest transaction completed

Ascent Resources plc, the AIM-traded oil and gas exploration and production company, has now completed the transaction with EnQuest PLC ('EnQuest'). 

This morning 150,903,958 new ordinary shares were admitted to trading on AIM.  These new shares have now been issued to EnQuest along with an option to receive a further 29,686,000 new ordinary shares in Ascent, subject to certain criteria related to the successful development of the Petišovci project in Slovenia.

* * ENDS * *

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

Jeremy Eng	Ascent  Resources plc	Tel: [phone]
Scott Richardson Brown	Ascent  Resources plc	Tel: [phone]
Sarah Wharry	finnCap Ltd (NOMAD & Broker)	Tel: [phone]
Henrik Persson	finnCap Ltd (NOMAD & Broker)	Tel: [phone]
Hugo de Salis	St Brides Media & Finance Ltd	Tel: [phone]

Notes:

Ascent Resources plchas a diversified portfolio of hydrocarbon exploration and development interests across five countries in Europe: Italy, Switzerland, Hungary, Slovenia and Netherlands.  Its 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 would be offshore.

 

END

 

 

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