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Drilling Results
Drilling Results.
About this update from Ascent Resources Plc
[{"type":"text","content":"\n RNS Number : 1692Y Ascent Resources PLC 28 August 2009 \n \nAscent Resources plc / Epic: AST / Index: AIM / Sector: Oil and Gas\nAscent Resources plc ('Ascent' or 'the Company')\nGörbeháza-1 Drilling Concluded\n\nAscent Resources plc, the AIM-traded oil and gas exploration and production company, announces that drilling operations at the Company's Görbeháza-1 well ('GH-1') in the Panhandle region of the Nyírség North Permit in northeast Hungary have concluded and that 7' casing has been run in advance of production testing operations.\n\nThe GH-1 well was drilled to a total depth of 1,300 metres and log data indicates that the well encountered gas in two of the three zones targeted. The drilling rig will be moved off location and a service rig brought in to conduct the completion and testing operations, scheduled for commencement in approximately six weeks time.\n\nThe Görbeháza-1 well (GH-1) is located a few kilometres south of the Hajdúnánás-1 gas discovery drilled by Hungarian Horizon Energy ('HHE') and JKX Oil and Gas plc ('JKX') and is some 70 kilometres north-west-of PetroHungaria's PEN-104A gas production well in which Ascent has a 45.23% interest. Ascent has a 20.167% in the GH-1 well, the other partners in the project include HHE (33.333% and operator), JKX (33.333%), DualEx Energy International Inc. (12.5%) and Swede Resources AB (0.667%).\n\nFurther to the announcement of 18th August 2009, drilling of the PEN-105 well in the Penészlek area of the Nyírség permits in Hungary is in progress and is currently drilling ahead at 1,345 metres in 12-1/4' hole. It is expected it will reach the primary target this weekend, a gas prospect in the Miocene aged formation that is estimated to be at a depth of 1,500 metres.\n\n* * ENDS * *\n\nFor further information visit www.ascentresources.co.uk or contact:\n\n\n\n\nJeremy Eng\n\n\nAscent Resources plc\n\n\nTel: 020 7251 4905\n\n\n\n\nHugo de Salis\nChris Welsh\n\n\nSt Brides Media & Finance Ltd\nSt Brides Media & Finance Ltd\n\n\nTel: 020 7236 1177\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\n\nNotes\...