Operational Update

RNS Number : 2126D

Ascent Resources PLC

05 July 2016

 

5 July 2016

Ascent Resources plc

("Ascent" or "the Company")

Operational Update

Ascent Resources plc (AIM: AST), European oil and gas exploration and production company is pleased to provide an update on the status of the legal agreements required to progress its alternative route to market.

On 1 June 2016 we reported that there were two legal agreements required to progress the alternative route to market, one of which was in agreed form and the second was at an advanced stage.

The first agreement has now been agreed and is ready for signing

All of the significant commercial issues in the second contract have now been agreed by the project group and the process of obtaining approval from the respective boards has begun.  The intention is to sign both agreements together and provide a further update to shareholders at that time.

Despite the delays in achieving formal sign off we are confident that the Company remains on track to produce gas by the end of the year.

Enquiries:

Ascent Resources plc Clive Carver, Chairman Colin Hutchinson, CEO	0207 251 4905
Stockdale Securities Limited, Nominated Adviser Richard Johnson Edward Thomas	0207 601 6100
IFC Advisory Ltd, Financial PR and IR                Graham Herring Tim Metcalfe Heather Armstrong	0203 053 8671

 

END

 

 

TSTUGUWPMUPQPUC