LONDON (Thomson Financial) - Ascent Resources Plc. said it has started gas
production at the PEN-104 well in the Penzlek area of the Nyrsg permits in
Hungary.
The production rate of the well is currently 48,000 cubic metres per day of
gas.
The rate will gradually be increased over the next few days to a target of
85,000 cubic metres per day.
AIM-listed Ascent holds a 45.23 percent interest in the Penzlek project
through its stake in PetroHungaria kft. Other partners are DualEx with 37.5
percent, Geomega with 8 percent, Leni Gas & Oil with 7.27 percent and Swede
Resources with 2 percent.
Also in Hungary, at the Szolnok gas exploration project, existing partner
RohAufsuchungs Aktiengesellschaft has increased its stake to 59.5 percent by
purchasing interests from other partners including Ascent.
Ascent's interest in the project has now been reduced to 12.5 percent from
27.5 percent.
tf.TFN-Europe_newsdesk@thomsonreuters.com
ms1/jro/ms1
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