Business
Commences 3D Seismic in Hunga
Commences 3D Seismic in Hunga.
About this update from Ascent Resources Plc
[{"type":"text","content":"\n RNS Number : 5251G Ascent Resources PLC 23 October 2008 \n \nAscent Resources plc / Epic: AST / Index: AIM / Sector: Oil and Gas\n23rd October 2008 \nAscent Resources plc ('Ascent' or 'the Company')\nCommences 3D Seismic in Hungary\n\nAscent Resources plc, the AIM-traded oil and gas exploration and production company, has commenced the shooting of a 3D seismic survey in the Penészlek area of the Nyírség permits in Hungary. \n\nThe survey, covering 100 square kilometres of the license area, is being conducted by Ascent's Hungarian associate, PetroHungaria kft. The acquisition of further data from Penészlek follows the commencement of gas production from the PEN-104 well in August 2008 and is intended to delineate other gas reserves in the vicinity. Two wells in the survey area, PEN-9 and PEN-12 have previously tested gas but to date, have not been put into production. The partially depleted Penészlek field also is within the survey area.\n\nAscent holds a 45.23% interest in the Penészlek Project through its equity interest in PetroHungaria kft. Other partners are DualEx (37.5%), Geomega (8%), Leni Gas & Oil (7.27%) and Swede Resources (2%).\n\nAscent Managing Director Jeremy Eng said, 'This is a positive step forward in the continued development of our Hungarian assets. Following the success of the PEN-104 well, currently producing 108,000 cu. M per day (3.8 MMscfd), we expect that the data acquired from this survey will point us towards new drilling opportunities and allow us to bring further cash generative wells on line in the area.' \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\nHugo de Salis\n\n\nSt Brides Media & Finance Ltd\n\n\nTel: 020 7236 1177\n\n\n\n\nVictoria Thomas\n\n\nSt Brides Media & Finance Ltd\n\n\nTel: 020 7236 1177\n\n\n\n\nMax Hartley\n\n\nCenkos Securities plc \n\n\nTel: 020 7397 8924\n\n\n\n\nRichard Hail \n\n\nFox-Davies Capital Limited\n\n\nTel: 020 7936 5234\n\n\n\n\n\n\nNotes:\n\nAscent Resources plc has a diversified portfolio of some 20 hydrocarbon exploration and deve...