Business
Görbeháza-1 Drilling Commence
Görbeháza-1 Drilling Commence.
About this update from Ascent Resources Plc
[{"type":"text","content":"\n RNS Number : 5959X Ascent Resources PLC 18 August 2009 \n \nAscent Resources plc / Epic: AST / Index: AIM / Sector: Oil and Gas\n18 August 2009\nAscent Resources plc ('Ascent' or 'the Company')\nGörbeháza-1 Drilling Commences\n\nAscent Resources plc, the AIM-traded oil and gas exploration and production company, announces the commencement of the drilling at 5pm CET yesterday of the Görbeháza-1 well, located in the western part of the Nyírség Szatmár permits in Hungary, known as the Panhandle. The drilling, expected to take about ten days, will evaluate a primary gas target estimated to be at a depth of 1,200 metres.\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-104 gas production well in which Ascent has a 45.23% interest. Ascent has a 20.167% interest in the Panhandle exploration project, having acquired an additional 2.666% from Geomega Kft. 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 10th 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 310 metres in 12-1/4' hole. It is expected it will reach the primary target within two weeks, 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...