Ascent Resources PLC Operational Update - Petisovci Gas Field (3105L)
July 18 2017 - 2:00AM
UK Regulatory
TIDMAST
RNS Number : 3105L
Ascent Resources PLC
18 July 2017
18 July 2017
Ascent Resources plc
("Ascent" or the "Company")
Operational Update - Petišovci Gas Field
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 for delivering gas to INA
The completion of the necessary infrastructure is progressing
well. The line from the CPP to the export line has passed the
technical inspection and is ready for use.
Refurbishment of the separation equipment at the CPP has
progressed as planned. The refurbished separator has been installed
and the remaining connections are being made.
The flowline from Pg-11A to the CPP has been installed, tested
and is ready to connect to the well once downhole operations have
completed.
Our customer, INA, is due to complete the re-certification of
its pipeline on the Croatian side of the border in time to receive
Petišovci gas, we have been advised to expect this before the end
of July 2017.
Well Pg-11A
Work to bring Pg-11A into production continues.
As previously announced we engaged a coiled tubing unit to
assist with the part of the final downhole portion of the
recompletion. This part of the operation has been completed and the
coiled tubing equipment has now left the site.
Additional work is required to prepare the well for production,
which is expected to take approximately two weeks.
Once the work-over is complete we will immediately connect the
well to the infrastructure, enabling gas to be produced for
sale.
The Company looks forward to providing an update once these
works are completed.
Colin Hutchinson, CEO, commented:
"We have made significant progress over the last three weeks in
getting the infrastructure ready and look forward to commencing the
supply of gas to INA shortly."
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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