Permitting Update

RNS Number : 6798F

Ascent Resources PLC

16 July 2019

 

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

16 July 2019

Ascent Resources plc

("Ascent" or the "Company")

Permitting update

The Board of Ascent would like to confirm that an appeal has been filed against the recent decision of the Environment Ministry.

As reported on 14 June 2019, the Environment Ministry in Slovenia rejected the appeal from the joint venture partners against the decision of the Slovenian Environmental Agency (ARSO) to require a full environmental impact assessment for well stimulation of the existing wells, Pg-10 and Pg-11A.

The deadline for filing an appeal to the Administrative Court was 15 July 2019 and the partners have filed their appeal.

The decision of ARSO and the Environment Ministry ignores the opinion of the six independent expert bodies whose advice ARSO sought. In breach of EU law, the decision also mistakenly concluded that the project fell within a conservation area and misapplied EU case law in relation to mitigation measures.

The Company is working to prepare legal claims for damages against the Republic of Slovenia for breaches of EU law which will be pursued in domestic and international courts.  The Board will update shareholders on funding for litigation in due course.

Ascent Resources plc Colin Hutchinson, CEO Dr John Buggenhagen, COO Dr Cameron Davies, Chairman	0207 251 4905
WH Ireland, Nominated Adviser & Broker James Joyce / Chris Savidge	0207 220 1666
SP Angel, Joint Broker                                                                   Richard Redmayne / Richard Hail	0203 470 0470

 

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