Business
AGM Statement
AGM Statement.
About this update from Ascent Resources Plc
[{"type":"text","content":"\n \nRNS Number : 9489H Ascent Resources PLC 27 June 2013 \n\n \n \nAscent Resources PLC\n \nAGM Statement\n \nClive Carver, Chairman of Ascent Resources PLC (\"Ascent\") will make the following update at the Annual General Meeting (\"AGM\") to be held at 2.30 pm today at the offices of the company's Nominated Adviser and Broker, finnCap, 60 New Broad Street, London EC2M 1JJ.\n \n\"I am pleased to report significant progress in our main objective of bringing our Slovenian asset into production.\n \nIn Slovenia we have \n \n· agreed with the Group's principal partners Nafta Lendava and Petrol the proposed structure and content of new Joint Venture and Joint Operating Agreements\n· agreed in principle with the Nafta Lendava Group access to land over which to build a new pipeline connecting to the fiscal metering terminal and national pipeline system\n· renewed discussions with BNP Paribas to secure project funding based on revised development plans and forecasts\n· appointed a new Slovenian country manager to oversea the development of the project\n· commenced recompletion work at Well Pg10 and Well PG11A\n \nIn addition, a consortium led by Petrol has acquired ownership of key assets and infrastructure, including pipelines covering more than 50% of the distance from the Company's existing wells to the national pipeline system\n \nBased on progress to date we are now targeting full and final agreement between the partner group during July, with the objective of receiving a revised offer of f...