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PEN-101 Completion
PEN-101 Completion.
About this update from Ascent Resources Plc
[{"type":"text","content":"\n RNS Number : 6633L Ascent Resources PLC 11 May 2010 \n \n\nAscent Resources plc / Epic: AST / Index: AIM / Sector: Oil and Gas\n11 May 2010\nAscent Resources plc ('Ascent' or 'the Company')\nPEN-101 Completion\n \nAscent Resources plc, the AIM-traded oil and gas exploration and production company, through its subsidiary PetroHungaria kft, has successfully completed the PEN-101 sidetrack, part of the Penészlek Project, in the Nyírség exploration permits of eastern Hungary.\n \nThe PEN-101 sidetrack will produce gas from the Miocene tuffaceous gas formation, the target of which was defined by 3-D seismic in 2008. The well was originally drilled in February 2010 to a total depth of 1,500m, however during completion an acid stimulation treatment had broken through a repair to the cement isolation behind the steel casing and allowed water production from a deeper formation. The sidetrack was drilled to overcome this problem and the well has now been successfully completed and perforated, with gas flowed on a short test. Once the rig has been demobilised from the location, the PEN-101 well will be acidized and connected to the adjacent production facility where the PEN-105 gas is already processed.\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\nSimon Cunningham\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\nPaul Youens\n\n\nSt Brides Media & Finance Ltd\n\n\nTel: 020 7236 1177\n\n\n\n\nShane Gallwey\n\n\nAstaire Securities \n\n\nTel: 020 7448 4400\n\n\n\n\nJerry Keen\n\n\nAstaire Securities (Corporate Broking)\n\n\nTel: 020 7448 4492\n\n\n\n\nToby Gibbs\n\n\nAstaire Securities \n\n\nTel: 020 7448 4400\n\n\n\n\nDaniel Fox-Davies\n\n\nFox-Davies Capital Ltd\n\n\nTel: 020 7936 5200\n\n\n\n\nJames Hehn\n\n\nFox-Davies Capital Ltd\n\n\nTel: 020 7936 5200\n\n\n\n\n \nNotes\nAscent Resources plc has interests in a diversified portfolio of hydrocarbon exploration and development projects across five countries in Europe: Italy, Switzerland, Hungary, Slove...