Exercise of Warrants

Ascent Resources PLC
15 December 2005

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



15th December 2005



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

                              Exercise of Warrants



Ascent Resources plc, the AIM traded oil and gas exploration and production
company, is raising £2,166,620 before expenses to fund the expansion and
development of the Company's European focussed exploration and production
portfolio.



The funds have been raised following the agreement of warrant holders to
exercise 43,332,418 warrants at a price of 5p per Ordinary Share of the Company.
The transaction must be completed by 22nd December 2005.  An Incentive Warrant
is being issued for each four warrants exercised. These 10,833,104 Incentive
Warrants give the holders the right to subscribe for one Ordinary Share of the
Company per warrant at a price of 12p at any time up to and including 22nd
December 2007. The expiry date of 4,000,000 warrants issued in March 2005 has
also been extended to 22nd December 2007.



Ascent's Managing Director Jeremy Eng said: 'We have made very good progress
over the last 10 months and have assembled an exciting portfolio of oil and gas
exploration and production projects. The Board decided that it would be a good
time to raise further funds to assists us in the development of this portfolio.
Following our recent strong share price performance, we felt that the warrant
exercise route was in the interests of both the Company and its shareholders.
It not only provided access to funds but also the opportunity to reduce the
number of the warrants in issue and to raise the average price of those
remaining.'



Application will be made for the admission to trading on AIM of 43,332,418 new
Ascent Resources plc Ordinary Shares with admission expected to take place on 22
December 2005.  Following their admission, the total number of shares in issue
will be 256,059,061.

                                  * * ENDS * *



Contacts:

Jeremy Eng                   Ascent  Resources plc
Tel: [phone]

Hugo de Salis               St Brides Media & Finance Ltd            Tel: 020
7242 4477


                      This information is provided by RNS
            The company news service from the London Stock Exchange