Issue of Equity

RNS Number : 9973W

Ascent Resources PLC

29 November 2010

 



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

29 November 2010

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

Issue of Equity

Ascent Resources plc, the AIM-traded oil and gas exploration and production company, has issued 3,118,276 ordinary shares of 0.1p each in the Company to YA Global Master SPV Ltd ('Yorkville'), an investment fund managed by Yorkville Advisors LLC.  The shares have been issued in respect to the consideration due to Yorkville for the arrangement and provision of the Promissory Note and SEDA Facilities announced by the Company on 19 November 2010. 

Application has been made for the admission of these shares to trading on AIM and dealings are expected to commence on 30 November 2010.  The shares will rank pari passu in all respects with the Company's existing ordinary shares, including the right to receive any dividends and other distributions declared by the Company.  Following the issue of the shares the Company's total issued share capital will be 519,780,299 ordinary shares of 0.1p each in the Company.

* * 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]
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 interests across five countries in Europe: Italy, Switzerland, Hungary, Slovenia and Netherlands.  Its 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.

 

END

 

 

IOEQKLFLBFFFFBV