Business
Purchase of mobile compressor unit
Purchase of mobile compressor unit.
About this update from Ascent Resources Plc
[{"type":"text","content":"\n \nRNS Number : 4784Z Ascent Resources PLC 20 May 2019 \n\nAscent Resources plc / Epic: AST / Index: AIM / Sector: Oil and Gas\n20 May 2019\nAscent Resources plc\n(\"Ascent\" or the \"Company\")\nPurchase of mobile compressor unit\nAscent Resources plc, the European focused oil and gas exploration and production company is pleased to announce that it has signed a contract for the purchase of a mobile compressor unit for use at its Petišovci project in Slovenia.\n \nThe supplier is expected to install and commission the mobile compressor unit in Q4 2019. Once installed the compressor is expected to allow increased, stable production from well Pg-10 and will significantly extend the life of this well. The equipment will also be used on well Pg-11A to address the performance issues which have restricted production from that well over the past year.\n \nWhen the Company is able to re-stimulate Pg-10 and Pg-11A the compression equipment may be used on other wells in the field to further increase production.\n \nColin Hutchinson, CEO of Ascent Resources plc, commented:\n\"I am pleased that we have sourced suitable compression equipment in the region and signed a comprehensive contract with warranty and maintenance provisions. We look forward to installing the unit and the resulting increase in production.\"\n \n\n\n\nAscent Resources plc\nColin Hutchinson, CEO \nJohn Buggenhagen, COO \n Cameron Davies, Chairman\n\n\n0207 251 4905\n \n\n\n\n\nWH Ireland, Nominated Adviser & Broker\nJames Joyce / Chris Savidge\n\n\n0207 220 1666\n\n\n\n\nSP Angel, Joint Broker \nRichard Redmayne / Richard Hail\n\n\n0203 470 0470\n\n\n\n\nYellow Jersey, Financial PR and IR \nTim Thompson / Harriet Jackson / Henry Wilkinson\n\n\n0203 004 9512\n\n\n\n \n \n\nThis information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Pr...