Director/PDMR Shareholding

RNS Number : 7535I

Ascent Resources PLC

18 March 2010

 



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

18 March 2010

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

Director's Dealing

Ascent Resources plc, the AIM-traded oil and gas exploration and production company, announces that on 17 March 2010, Jeremy Eng, Managing Director of Ascent, exercised options over 1,000,000 ordinary shares of 0.1p each in the Company at a price of 5.0p per share.  Following this purchase, Mr. Eng is interested in 4,808,557 ordinary shares in the Company, representing 0.93 per cent. of the issued share capital of the Company.

The Company is about to enter a closed period, restricting Mr. Eng's ability to exercise his remaining 9,000,000 options before they expire on 10 April 2010 - as a result, the Board of Directors has agreed to extend their exercise period to 10 July 2010.  

Application has been made for these shares to be admitted to trading on AIM on 23 March 2010.  Following the issue of the new shares, the Company's issued share capital will consist of 516,662,023 Ordinary Shares with voting rights.

* * ENDS * *

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

Jeremy Eng	Ascent  Resources plc	Tel: [phone]
Simon Cunningham	Ascent  Resources plc	Tel: [phone]
Hugo de Salis	St Brides Media & Finance Ltd	Tel: [phone]
Paul Youens	St Brides Media & Finance Ltd	Tel: [phone]
Lindsay Mair	Astaire Securities	Tel: [phone]
Jerry Keen	Astaire Securities (Corporate Broking)	Tel: [phone]
Toby Gibbs	Astaire Securities	Tel: [phone]
Daniel Fox-Davies	Fox-Davies Capital Ltd	Tel: [phone]
James Hehn	Fox-Davies Capital Ltd	Tel: [phone]

Notes

Ascent Resources plc has a diversified portfolio of hydrocarbon exploration and development projects across five countries in Europe: Italy, Switzerland, Hungary, 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 would be offshore.

 

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