Issue of Equity

Ascent Resources PLC
24 March 2005

                              Ascent Resources plc

                    RAB Energy Fund subscribes for shares


RAB Energy Fund Limited has agreed to subscribe for 33,333,333 ordinary shares
of Ascent Resources PLC at a price of 4.5p for gross proceeds of £1.5 million.
Application will be made for admission of the new ordinary shares to trading on
AIM. Ascent Resources has further agreed to issue to RAB Energy Fund warrants to
purchase a further 20,000,000 shares at a price of 5p. A well is scheduled to be
drilled in Ascent's offshore Gabon interests in August 2005. The warrants issued
to RAB Energy Fund are exercisable within of 30 days of a successful testing of
hydrocarbon in this well or within two years following the date of issue if the
well does not test hydrocarbons.



Whilst some of the proceeds will be used to defray the cost the Company's share
of the Gabon well, most will be used to further the Company's projects in
Hungary and new ventures in Europe.



Contact:

 Jeremy Eng
 Managing Director
 Telephone:   [phone]
 Facsimile:     [phone]
 E-mail: [e-mail]

 David Steinepreis
 Chairman
 Telephone:   [phone]
 E-mail: [e-mail]



                           www.ascentresources.co.uk


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