Ascent Resources PLC
21 December 2007
Ascent Resources plc / Epic: AST / Index: AIM / Sector: Oil and Gas
Ascent Resources plc ('Ascent' or 'the Company')
Resumes testing the Anagni-1 well in Italy
Ascent Resources plc, the AIM-traded oil and gas exploration and production
company, announces that the workover operations on the Anagni-1 well in the
Frosinone Exploration Permit in the Latina Valley, Italy, have been completed
and that testing is expected to recommence today.
The full potential of the well will not be known until large quantities of
drilling fluids (drilling 'mud') that were lost into the reservoir formation
while drilling are recovered. These losses, which are characteristic of high
permeability reservoirs in the region are due to the fractured nature of the
rock and will enhance the productivity of the formation. So far an estimated
75% of the volume of the lost fluids has been recovered. Core analysis results
are encouraging for the oil potential of the well and the downhole equipment
which uses the same pump as before has been reconfigured to more efficiently
reach a conclusive test result.
Ascent has an 80% interest in the Anagni-1 well and the Company will release
further information on the progress of the testing operations as and when
available.
* * ENDS * *
For further information visit www.ascentresources.co.uk or contact:
Jeremy Eng Ascent Resources plc Tel: 020 7251 4905
Hugo de Salis St Brides Media & Finance Ltd Tel: 020 7242 4477
Max Hartley Cenkos Securities plc Tel: 020 7397 8924
Notes
Ascent Resources plc has a diversified portfolio of over 20 hydrocarbon
exploration and development projects across six countries in Europe: Italy,
Switzerland, Hungary, Spain, Slovenia and Netherlands. Ascent's portfolio
contains a solid base of field redevelopment projects with selected exposure to
exploration upside. The portfolio is focussed on gas and with the exception of
the shallow water Netherlands project, 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
The company news service from the London Stock Exchange
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