Business
IPPC Permit Preliminary Screening Appeal Decision
IPPC Permit Preliminary Screening Appeal Decision.
About this update from Ascent Resources Plc
[{"type":"text","content":"\n \nRNS Number : 6588X Ascent Resources PLC 28 November 2017 \n\nAscent Resources plc / Epic: AST / Index: AIM / Sector: Oil and Gas\n \n28 November 2017\nAscent Resources plc\n\n(\"Ascent\" or \"the Company\")\n \nFavourable Decision on IPPC Permit Preliminary Screening Appeal\n \nThe Board of Ascent Resources plc (AIM: AST), the European focused oil & gas exploration and production company is pleased to report that the appeal against the correctness of preliminary screening procedures in relation to the IPPC Permit has been rejected by the Administrative Court. As such we look forward to the Environmental Agency awarding the permit in due course.\n \nIn addition, we note that the body which has repeatedly objected at every stage in the process, and whose objections have been consistently rejected as being without merit on every occasion, has recently had their preferential status in Slovenia as an NGO revoked. This will bar them from making any further spurious objections.\n \nThe IPPC Permit is required for the construction of a processing facility adjacent to the Petišovci field. The processing facility will enable the partners to treat gas to a standard suitable for transmission into the Slovenian & European gas transmission network. \n \nThe IPPC Permit, will remove the last regulatory barrier to producing Slovenian gas for the Slovenia market. Additionally it is likely to significantly improve the margin realised on gas production, as currently our gas is being sold untreated and therefore at a discount to the market price.\n \nColin Hutchinson, CEO of Ascent, commented: \n\"We are pleased that the Administrative Court confirmed the correctness of the preliminary screening process and now we can look forward to the Environmental Agency awarding the permit in due course. The award of the permit will enable the construction of our own processing facility in Slovenia which underpins the full field development plan.\"\n \nEnquiries:\n\n\n\n\nAscent Resources plc\nClive Carver, Chairman\nColin Hutchinson, CEO\n\n\n\n0207 251 4905\n \n\n\n\n\nWH Ireland, Nominated Adviser & Broker\nJames Joyce / Alex Bond\n\n\n\n0207 220 1666\n\n\n\n\nYellow Jersey, Financial PR and IR \nTim Thompson / Harriet Jackson / Henry Wilkinson\n\n\n0203 735 8825\n\n\n...