Placing of shares to Henderson Global Investors

RNS Number : 6799A

Ascent Resources PLC

09 June 2016

9 June 2016

Ascent Resources plc

("Ascent" or "the Company")

£500,000 Placing of shares to Henderson Global Investors

Ascent Resources plc (AIM: AST), the European oil and gas exploration and production company, is pleased to announce that it has raised £500,000 (net to the Company) via the placing of 83,333,333 new ordinary shares of 0.2p each in the Company at a price of 0.6 p per Placing Share.

These funds are expected to meet the Company's current working capital requirements into 2017 and enable the Company to continue to order long lead items required for the alternative route to market.

Admission of Ordinary Shares

The Company has applied for admission of the 83,333,333 Placing Shares to trading on AIM. Dealings are expected to become effective on 15 June 2016 ("Admission"). Following Admission, the Company will have 514,937,442 Ordinary Shares in issue with each Ordinary Share carrying the right to one vote. There are no Ordinary Shares currently held in treasury. The total number of voting rights in the Company therefore will be 514,937,442 and this figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the Financial Conduct Authority's Disclosure and Transparency Rules.

Enquiries:

Ascent Resources plc

Clive Carver, Chairman

Colin Hutchinson, CEO

0207 251 4905

Stockdale Limited, Nominated Adviser

Richard Johnson

Edward Thomas

0207 601 6100

IFC Advisory Ltd, Financial PR and IR

Graham Herring

Tim Metcalfe