Stmnt re Share Price Movement

Ascent Resources PLC
18 November 2004



                              Ascent Resources plc

                            Statement re share price



The Directors of Ascent Resources have noted the increase in the Company's share
price. The Company has been established for the purpose of making investments in
the mining, minerals and oil and gas sectors. However, it has been quoted only
since 10 November and is only in the very early stages of implementing its
investment strategy. At the current time, the Directors are not aware of any
reason for the increase in the share price. Developments will be announced as
and when they occur.



18 November, 2004


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