Further ?3m from Swisss Dispo

RNS Number : 4882T

Ascent Resources PLC

29 September 2010

 



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

29 September 2010

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

Completes conditions for €3m Deferred Consideration

Ascent Resources plc, the AIM-traded oil and gas exploration and production company, is pleased to announce that, further to the announcement of the 22 April 2010, it has completed the commercial conditions required to receive the additional €3million of consideration from the disposal of its Swiss subsidiary PEOS AG.

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

Jeremy Eng	Ascent  Resources plc	Tel: [phone]
Simon Cunningham	Ascent  Resources plc	Tel: [phone]
Sarah Wharry	finnCap Ltd	Tel: [phone]
Henrik Persson	finnCap Ltd	Tel: [phone]
Hugo de Salis	St Brides Media & Finance 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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