Ascent Resources PLC
12 July 2007
Ascent Resources plc / Epic: AST / Index: AIM / Sector: Oil and Gas
Ascent Resources plc ('Ascent' or the 'Company')
Statement re share price movement
Ascent Resources plc, the AIM-traded European focussed oil and gas exploration
and production company, notes the recent rise in its share price. Further to
the announcement on 28 June 2007, the Company is drilling the Anagni-1 well in
Italy and has just commenced logging the well. The Company will complete
logging in the coming days and, following preliminary analysis, it plans to
update the market early next week.
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For further information visit www.ascentresources.co.uk or contact:
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 a portfolio of over 20 gas and oil projects across six
countries in Europe. The projects are onshore in Italy, Switzerland, Hungary,
Spain, Slovenia and offshore Netherlands. Ascent is at present drilling a
programme of exploration wells across its portfolio. The Company operates
Spain's only onshore oilfield where production currently averages over 110
barrels of oil per day. With the stable European gas market, Ascent's portfolio
favours gas over oil. With the exception of the Netherlands, all of its projects
are located onshore where operating and development costs are substantially
lower than they are offshore.
This information is provided by RNS
The company news service from the London Stock Exchange