ICM-1 Well Commences

RNS Number : 5522Y
Ascent Resources PLC
08 July 2008
 



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

8th July 2008

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

Gabon Well


Ascent Resources plc, the AIM-traded oil and gas exploration and production company, notes that Sterling Resources Plc ('Sterling') has reported the commencement of drilling of the Iris Charlie Marin-1 ('ICM-1') well offshore Gabon. Ascent has a 1.75% net profits interest in the Iris Marin Production Sharing Contract Area where the ICM-1 well is being drilled.


The ICM-1 well, located 12 km southwest of the Gamba field in 25 metres of wateris targeting the Charlie Prospect, which Sterling estimates to contain reserves of 20-40 million barrels of oil in the Gamba Sandstone formation.  Sterling expects drilling to be completed before the end of July 2008 


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

Jeremy Eng

Ascent    Resources plc

Tel: 020 7251 4905

Hugo de Salis

Chris Welsh

St Brides Media & Finance Ltd

St Brides Media & Finance Ltd

Tel: 020 7236 1177

Tel: 020 7236 1177

Max Hartley

Cenkos Securities plc    

Tel: 020 7397 8924


Notes

Ascent Resources plc has a diversified portfolio of over 20 hydrocarbon exploration and development projects across six countries in Europe: ItalySwitzerlandHungarySpainSlovenia and Netherlands. Ascent's 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 are offshore.



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