| Perazzoli Drilling |
Ascent stake: 22.5% |
Oil & Gas |
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| Ascent acquired a 22.5% interest in Italian drilling contractor Perazzoli Drilling srl ("Perazzoli") in September 2007. The acquisition provided Ascent, through its subsidiary Ascent Drilling Limited ("Ascent Drilling"), with priority access to Perazzoli's rigs. This enables Ascent Drilling to schedule the Company's exploration and appraisal drilling programmes on its European gas and oil portfolio more efficiently as well as producing additional revenue. |
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