Ascent Resources PLC Operational Update (1930H)
June 06 2017 - 02:00AM
UK Regulatory
TIDMAST
RNS Number : 1930H
Ascent Resources PLC
06 June 2017
6 June 2017
Ascent Resources plc
("Ascent" or the "Company")
Operational Update
The Board of Ascent Resources plc (AIM: AST), the European
focussed oil & gas exploration and production company is
pleased to update the market on progress with its Petišovci project
in Slovenia.
Well Pg-11A
The downhole portion of the operations to prepare Pg-11A to
produce and sell gas is expected to finish in the next seven days
following which, we will begin the construction of the short
flowline to connect the well to the pipeline which runs to the
central processing facility ("CPP").
As the well was fully cleaned up following the extended flow
test in 2012, an additional clean-up and flow test will not be
carried out once the workover is complete. Instead we will
immediately move to connect the well to infrastructure, enabling
gas to be produced for sale.
Infrastructure for delivering gas to INA
We remain on track to commence supplies of gas to INA in the
coming weeks, in line with our schedule.
Current field operations are focussed on:
-- connecting the CPP to the export line at MRS Lendava (the
land acquired by Ascent from Trameta in July 2016). This work is
progressing as planned and is expected to be completed around the
middle of this month.
-- the refurbishment of gas separation equipment at the CPP.
This is also underway and proceeding as planned.
Our customer, INA, is completing the re-certification of its
pipeline in time to receive Petišovci gas.
Colin Hutchinson, CEO, commented:
"We are pleased that the work is proceeding on time and budget
and look forward to selling gas from both wells in the near
future."
Enquiries:
Ascent Resources plc
Clive Carver, Chairman
Colin Hutchinson, CEO 0207 251 4905
Stockdale Securities Limited, Nominated
Adviser and Joint Broker
Richard Johnson
Edward Thomas 0207 601 6100
Northland Capital Partners Limited,
Joint Broker
Tom Price 0203 861 6625
IFC Advisory Ltd, Financial PR and
IR
Tim Metcalfe
Heather Armstrong 0203 053 8671
This information is provided by RNS
The company news service from the London Stock Exchange
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