Ascent Resources PLC
09 June 2006
Ascent Resources plc / Epic: AST / Index: AIM / Sector: Oil and Gas
9th June 2006
Ascent Resources plc ('Ascent' or 'the Company')
Appointment of Joint Broker
Ascent Resources plc, the AIM listed oil and gas exploration and production
company, has appointed Hichens, Harrison & Co. plc as joint-broker to the
Company with immediate effect.
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Contacts
Jeremy Eng Ascent Resources plc Tel: 020 7251 4905
Hugo de Salis St Brides Media & Finance Ltd Tel: 020 7242 4477
Notes
Ascent Resources has an extensive portfolio of over 20 oil and gas projects
across six countries in Europe. These include an 88% interest and operatorship
of the only onshore Spanish oilfield which produces over 100 barrels of oil per
day. Ascent's other projects are in Italy, the fourth biggest European
hydrocarbon's producer, Switzerland, Hungary and Romania, as well as
applications offshore Holland and minor assets in Gabon. Starting late this
summer Ascent will drill six exploration wells, two each in Hungary, Spain and
Italy. High impact gas exploration wells in the Po Valley in Italy and in
Switzerland are planned for 2007. The Company will also participate in up to
four non-operated exploration wells in Romania.
With the strong and stable European gas market, the Company's portfolio is
balanced in favour of gas over oil, and with the exception of Holland, projects
are located onshore where operating and development costs are very much less
than they are offshore.
In parallel with acquiring the oil and gas assets, the Company has appointed to
the Board a team of experienced directors who are specialists in the European
energy business and each of whom has expertise and experience in commercialising
energy assets.
This information is provided by RNS
The company news service from the London Stock Exchange SIAIIR