TIDMAST

RNS Number : 0748N

Ascent Resources PLC

04 August 2017

4 August 2017

Ascent Resources plc

("Ascent" or the "Company")

Operational Update - commencement of test production

The Board of Ascent Resources plc (AIM: AST), the European focused oil & gas exploration and production company, is pleased to provide an update on progress with its Petišovci project in Slovenia.

Infrastructure to produce to INA

The installation of the necessary infrastructure to accommodate export production has now been completed.

The operational certificate has been received for the pipeline from the CPP to the export line.

Refurbishment of the separation equipment at the CPP has completed. The refurbished separator has been installed and connected to the existing plant. To complete testing, we will switch the current flow of gas from Pg-10 through the refurbished infrastructure this morning (Friday 4(th) August). This gas will continue to be sold locally during testing.

Our customer, INA, has received initial positive feedback from the authorities in relation to the re-certification of its pipeline on the Croatian side of the border. The authority has asked for clarification on a number of points which we have been advised should be completed shortly. Once the recertification has been finalised production of gas to INA will commence.

Well Pg-11A

The service company which has been contracted to complete the operations at well Pg-11A arrived on-site on 1 August after procuring the required tooling, we have made good progress over the past few days and will provide a further update in due course. Once this final operation has been completed the well will be connected through to the CPP via the flowline which has already been constructed.

Colin Hutchinson, CEO, commented:

"We are pleased that the infrastructure to produce is now ready and that the recertification on the Croatian side of the border is moving towards a positive conclusion."

Enquiries:

 
 Ascent Resources plc 
  Clive Carver, Chairman                    0207 251 
  Colin Hutchinson, CEO                      4905 
 Stockdale Securities Limited, Nominated 
  Adviser and Joint Broker 
  Richard Johnson                           0207 601 
  Edward Thomas                              6100 
 Northland Capital Partners Limited, 
  Joint Broker                              0203 861 
  Tom Price                                  6625 
 Abchurch, Financial PR and IR              0207 398 
  Tim Thompson                               7700

This information is provided by RNS

The company news service from the London Stock Exchange

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