Acquisition in Gabon

Ascent Resources PLC 16 September 2005 Ascent Resources Plc / Epic: AST / Index: AIM / Sector: Oil and Gas Ascent Resources Plc ('Ascent' or 'the Company') Acquisition in Gabon Ascent Resources Plc, the AIM quoted oil and gas exploration and production company, through its wholly owned subsidiary Ascent Gabon Limited, has been awarded a 20% interest in a one year technical evaluation agreement for the Ibekelia Permit in partnership with Sterling Energy (Operator) and Pan-Ocean Energy Corporation each with 40%. The 673 square kilometres Ibekelia Permit lies between the Iris Marin and Themis Marin permits in which Ascent has a 1.75% net profits interest and is adjacent to the Olowi Marin oilfield. Subject to partner and governmental approvals, Ascent will assign 50% of this interest (10% net) to Afren plc and Ascent will therefore retain a 10% working interest in the Ibekelia Permit. * * ENDS * * Issued on behalf of Ascent Resources Plc by St Brides Media & Finance Ltd, 46 Bedford Row, London, WC1R 4LR. Contacts: Jeremy Eng Ascent Resources Plc Tel: 020 7251 4905 Hugo de Salis St Brides Media & Finance Ltd Tel: 020 7242 4477 Notes: Ascent Resources Plc is an AIM quoted oil and gas company with a primary focus in Europe. Since being founded in November 2004, Ascent has assembled a portfolio of exploration assets that include majority interests in eight exploration permits. Applications for a further two are in progress. Ascent considers the full spectrum of projects covering exploration, early stage development and production. The Company has an experienced technical team with strong industry contacts and a proven track record. They have implemented a structured two phase development strategy: Phase 1 is to develop the core of European projects; while Phase 2 is to acquire a lesser number of larger scale projects across a wider geographical range. The Company now has a 90% interests in projects in Hungary (gas), Switzerland (gas & oil), and Holland (gas), a 100% interest in an Italian gas exploration project and a 70% interest in Italian oil exploration as well as the royalty and working interests in Gabon. The balance of oil and gas assets and the geographical spread of projects mainly in net energy importing countries are designed to mitigate the risk in commodity price fluctuation and changes in global energy politics. This information is provided by RNS The company news service from the London Stock Exchange