Provisional Award of IPPC Permit

RNS Number : 0219R

Ascent Resources PLC

24 June 2015

 

Ascent Resources plc

("Ascent" or "the Company")

Provisional Award of IPPC Permit

The Board of Ascent is pleased to announce that yesterday it received a provisional Integrated Pollution Prevention and Control Permit ("The Permit") from the Environmental Agency in Slovenia in relation to the installation of a Gas Gathering and Separation Station ("GGSS") at its Petišovci field.

There will be a further period of 30 days during which time appeals may be lodged before the permit is declared legally valid.  Once the permit is declared legally valid the Company will be able to commence procurement and construction for the GGSS and related infrastructure.  The GGSS will enable the Company to process the gas produced from its two existing wells to a quality acceptable for the national grid network in Slovenia.

Clive Carver, Chairman of Ascent Resources plc said:

"This is a major step forward in the development of the Petišovci project. The award has been made after many months in-depth consideration by the Slovenian authorities of all the issues in the development of the project including detailed submissions from objectors to the project.

Although the award is capable of appeal we believe that any further consideration of the issues would result in the same outcome it is now only a matter of time before work can start in earnest on the gas gathering and separation station."

Enquiries:

Ascent Resources plc.

Len Reece / Colin Hutchinson

Tel: [phone]

finnCap (Nominated Adviser and Broker)

Christopher Raggett

Tel: [phone]

 

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