Business
PEN-106 Drilling Update
PEN-106 Drilling Update.
About this update from Ascent Resources Plc
[{"type":"text","content":"\n RNS Number : 5879J Ascent Resources PLC 01 April 2010 \n \n\nAscent Resources plc / Epic: AST / Index: AIM / Sector: Oil and Gas\n1 April 2010\nAscent Resources plc ('Ascent' or 'the Company')\nPEN-106 Drilling Update\n \nAscent Resources plc, the AIM-traded oil and gas exploration and production company, through its subsidiary PetroHungaria kft, announces that it is currently drilling the PEN-106 well, part of the Penészlek Project in the Penészlek area of the Nyírség exploration permits in eastern Hungary. \n \nThe target of the well is the Miocene tuffaceous formation within a structure defined on 3-D seismic of the area acquired in 2008 and similar to that proven by the PEN-105 well. The well is planned for a total depth of approximately 1,500m and, if productive, will be connected to the existing Penészlek facilities by a 2 km pipeline, for which the permit has already been obtained.\n \nOnce the rig has finished the PEN-106 well, it will return to PEN-101 to complete the remedial work required to ready the well for production.\n \nPartner interests in the Penészlek Project are:\n \n\n\n\n\n\n\n\nProject\nInterest\n\n\nPEN-101 & PEN-106\n\n\n\n\nRevenue Interest\n\n\nCost Share\n\n\n\n\nAscent Resources plc\n\n\n48.776%\n\n\n51.654%\n\n\n53.381%\n\n\n\n\nDualEx\n\n\n40.440%\n\n\n42.826%\n\n\n44.258%\n\n\n\n\nSwede Resources\n\n\n2.157%\n\n\n2.285%\n\n\n2.361%\n\n\n\n\nGeomega kft\n\n\n8.627%\n\n\n3.235%\n\n\n0%\n\n\n\n\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\nLindsay Mair\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\n...