Placing

Ascent Resources PLC
19 March 2007

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


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

                                    Placing


Ascent Resources plc, the oil and gas exploration and production company, is
raising £3.5 million (approximately £3.3 million net of expenses) through the
issue of 25,000,000 new ordinary shares of 0.1p each ('Placing Shares') at 14p
per share.


The Company intends to use the proceeds primarily to cover the additional costs
resulting from the recent Anagni-1 oil discovery in the Frosinone Exploration
Permit in Italy's Latina Valley and to increase its interest in the Frosinone
Exploration permit by 10% to 80%.  Other additional expenditure is planned for
accelerating the development of the PEN-104 gas discovery in Hungary as well as
preliminary engineering design associated with the Company's Tight Gas
initiative in south west Hungary and Slovenia.


Ascent's Managing Director Jeremy Eng said, 'We have had a high level of success
in the development of our portfolio during the last six months having made two
discoveries from our on-going drilling campaign. The funds raised will, in the
most part, be used to advance the Italian oil discovery made in the Latina
Valley earlier this year and the Hungarian gas discovery made at the end of last
year.'


Ascent has entered into a placing agreement with Cenkos Securities plc, pursuant
to which Cenkos Securities plc has, on behalf of Ascent, conditionally placed
the Placing Shares with institutional investors.


Application will be made for the Placing Shares to be admitted to trading on AIM
and it is expected that admission will become effective and that trading in the
Placing Shares on AIM will commence on March 22nd 2007.


The total number of Ordinary Shares in issue immediately following the placing
will be 290,504,891.

                                  * * ENDS * *



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

Jeremy Eng                  Ascent  Resources plc             Tel: [phone]
Hugo de Salis               St Brides Media & Finance Ltd     Tel: [phone]



Notes:

Ascent Resources has a portfolio of over 20 oil and gas projects across six
countries in Europe. The projects are onshore in Italy, Switzerland, Hungary,
Spain, Slovenia and offshore Netherlands.  Ascent is at present drilling a
programme of six wells.  Two have already been drilled in Hungary, one of which
was a gas discovery.  The Anagni-1 well, first of two Italian wells, has been
temporarily completed for future deepening and testing and the Hontomin-4 well
currently being drilled is the first of two wells in Spain.  Later in 2007, two
more gas exploration wells are to be drilled in Hungary, high impact gas
exploration wells are planned in the Po Valley in Italy, and one well in
Switzerland, subject to permitting and rig availability.


Ascent operates Spain's only onshore oilfield where production currently
averages over 100 barrels of oil per day.


With the stable European gas market, Ascent's portfolio favours gas over oil
and, with the exception of the Netherlands, 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
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