Options Issue

RNS Number : 0849C

Ascent Resources PLC

06 November 2009

 



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

6 November 2009

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

Grant of Options

Ascent Resources plc, the AIM-traded oil and gas exploration and production company, has granted Finance Director Simon Cunningham, on the first anniversary of his engagement, 1,000,000 options to subscribe for new ordinary shares of 0.1 pence each in the Company at 7.625p per share.  The options to acquire new ordinary shares in the Company are exercisable from 1 October 2010 until 1 October 2014.

Following the grant of these options, the total number of options over ordinary shares in the Company held by Mr Cunningham was 2,000,000, representing 0.53% of the issued share capital of the Company.

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

Jeremy Eng	Ascent    Resources plc	Tel: [phone]
Hugo de Salis	St Brides Media & Finance Ltd	Tel: [phone]
Max Hartley	Cenkos Securities plc	Tel: [phone]

Notes

Ascent Resources plc has a diversified portfolio of some 20 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 are offshore.  Ascent also has an oil and gas asset management joint venture with San Severina Holdings SA, a Swiss based investment company, which is focused on acquiring minority interests and providing investment funding for producing and development or appraisal stage oil and gas projects.

 

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