Anagni-1 Log Results

Ascent Resources PLC 16 July 2007 Ascent Resources plc / Epic: AST / Index: AIM / Sector: Oil and Gas 16 July 2007 Ascent Resources plc ('Ascent' or the 'Company') Anagni-1 Log Results Ascent Resources plc, the AIM traded oil and gas exploration and production company, has completed logging operations in the Anagni-1 well located in the Frosinone Exploration Permit in the Latina Valley in Italy. The results of logging and core sampling are encouraging and now a production test over a 450 metre section of potential reservoir is planned. The Anagni-1 well has been deepened from 971 metres to a current total depth of 1,355 metres. As previously, total loss of circulation was experienced throughout and the only rock samples recovered to surface were four cores, which all had traces of oil. These are detailed below. The analysis of log data indicates that the complete section is drilled in a continuous limestone with extensive dolomitised zones totalling over 140 metres within the 450 metres gross thickness. Porosity in the dolomite frequently exceeds 10%. From the core data, the limestones area of Miocene and late Cretaceous age. The core samples recovered to surface were from the intervals as detailed below. Core Depth Recovery 1 1,073 to 1,089 m 33% 2 1,100 to 1,106 m 100% 3 1,200 to 1,206 m 95% 4 1,349 to 1,355 m 30% Subject to the necessary approvals, it is planned to complete the well with a downhole pump and to test it over the coming weeks. The pump is necessary to recover substantial quantities of mud and water lost while drilling. Before the test commences it is planned to move the drilling rig to the nearby Fiume Arrone exploration permit where the Arrone-1 gas exploration well is to be drilled. Ascent has an 80% interest in the Frosinone exploration permit and Pentex Italia Limited has a 20%interest. Ascent's Managing Director Jeremy Eng said, 'The results that we have from this well to date are promising and as we had anticipated, the geological provenance of this area is good. The nearest proven oil is 45km to the south east and everything between that and Anagni-1 is within the Frosinone Exploration Permit, which we believe has the possibility to contain a number of similar structures.' The information contained in this announcement has been reviewed and approved by Dr Eloi Dolivo, Ascent's Exploration Manager and Dr Clive Ninnes, Ascent's Engineering Manager. Dr Dolivo (member of the AAPG) and Dr Ninnes (member of SPE) both having 26 years experience in the evaluation of hydrocarbon resources. * * ENDS * * For further information visit www.ascentresources.co.uk or contact: Jeremy Eng Ascent Resources plc Tel: 020 7251 4905 Hugo de Salis St Brides Media & Finance Ltd Tel: 020 7242 4477 Notes: Ascent Resources has a portfolio of over 20 gas and oil projects across six countries in Europe. The projects are onshore in Italy, Switzerland, Hungary, Spain, Slovenia and offshore Netherlands. The Company operates Spain's only onshore oilfield where production currently averages over 110 barrels of oil per day. With the stable European gas market, Ascent's portfolio favours gas over oil. With the exception of the Netherlands, all of its projects are located onshore where operating and development costs are substantially lower than they are offshore. This information is provided by RNS The company news service from the London Stock Exchange