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Block M10/M11 Licence Extended - Netherlands
Block M10/M11 Licence Extended - Netherlands.
About this update from Ascent Resources Plc
[{"type":"text","content":"\n \nRNS Number : 0955O Ascent Resources PLC 13 September 2011 \n \n\nAscent Resources plc / Epic: AST / Index: AIM / Sector: Oil and Gas\n13 September 2011 \nAscent Resources plc ('Ascent' or 'the Company')\nLicence extended in Netherland's North Sea Block M10/M11\n \nAscent Resources plc, the AIM-traded European oil and gas exploration and production company, through its subsidiary Ascent Resources (Netherlands) BV ('ARN'), has received confirmation of the extension of its M10/M11 block licences ('the Project') located offshore Netherlands in the southern North Sea until 30 June 2013.\n \nThe M10/M11 appraisal project is in the shallow waters off the north coast of the Netherlands. In the licence area there are three structures, all of which contain gas discovery wells with the gas present in the Slochteren unit of the Rotligendes sandstones. A conceptual development plan has been prepared and a final appraisal well is being planned for H2 2012 to confirm reservoir parameters for the detail project design. This well will be an appraisal well for the Terschelling Noord discovery, which is in a structure that lies partly within the M10/M11 licence area and partly to the area to the south. The well would be expected to then become a production well for the development.\n \nARN holds a 54% interest in the Project. Other partners in the Project are Energie Beheer Nederland B.V with 40% and GTO Limited with 6%.\n \n* * ENDS * *\n \nFor further information visit www.ascentresources.co.uk or contact:\n \n\n\n\n\nJeremy Eng\n\n\nAscent Resources plc\n\n\nTel: 020 7251 4905\n\n\n\n\nScott Richardson Brown\n\n\n\n\n\n\n\n\n\n\nSarah Wharry\n\n\nfinnCap Ltd (NOMAD & Broker)\n\n\nTel: 020 7600 1658\n\n\n\n\nBen Thompson\n\n\n\n\n\n\n\n\n\n\nHugo de Salis\n\n\nSt Brides Media & Finance Ltd\n\n\nTel: 020 7236 1177\n\n\n\n\n \nNotes:\nAscent Resources plc has a diversified portfolio of hydrocarbon exploration and development interests across five countries in Europe: Slovenia, Hungary, Italy, Switzerland, and Netherlands. Its portfolio contains a solid base of field redevelopment projects with selected exposure to exploration upside. The portfolio is focussed on gas and with the exception of the shallow water Netherlands project, all of its ...