Ascent Resources PLC IPPC Update (0978B)
March 31 2017 - 2:01AM
UK Regulatory
TIDMAST
RNS Number : 0978B
Ascent Resources PLC
31 March 2017
31 March 2017
Ascent Resources plc
("Ascent" or the "Company")
IPPC Update
The Board of Ascent Resources plc (AIM: AST), the European
focused oil & gas exploration and production company is pleased
to announce that it has been informed that the appeal made in
relation to the IPPC Permit ("the Permit") has once again been
dismissed as being without merit.
The Permit is needed for the installation of a gas treatment
facility at the Petisovci gas field. Shareholders should note that
an IPPC permit is not required for previously announced sales of
gas to INA.
Background
The Slovenian Environment agency ("The Agency") ruled in
November 2016 that a full environmental impact assessment was not
required for the Permit. An appeal against this decision was lodged
with the Environment Minister by an individual who has delayed the
application at every available opportunity on grounds which have
consistently been rejected by every ruling body.
The Environment Minister has recently confirmed the decision of
The Agency and ruled that the appeal lodged was without merit.
It is open to this individual to further appeal to the Court.
However, in the view of the Ascent Board any further appeal would
continue to be detrimental to the Slovenian economy and will only
serve to delay the significant investment, which Ascent and its
partners wish to make in the region.
Colin Hutchinson, CEO, commented:
"I am very pleased that the Permit application has passed yet
another hurdle and the project has been endorsed once again by the
Slovenian authorities; I hope that common sense will prevail and no
further appeal is made but in the event this does again come before
the Court we firmly believe that they will uphold the issue of the
IPPC permit."
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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