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Ascent stake: 50% |
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November 2007 - Ascent sold its wholly owned subsidiary Compania Petrolifera de Sedano which holds the Ayoluengo oil field to AIM listed Leni Gas and Oil Plc (LGO) for euro 2.25 million and 8 million ordinary LGO shares. Ascent intends to retain a presence in Spain with its 50% interest in the Rocamundo gas exploration application, where the Company's partners are Tethys Oil and Shesa, who have a 30% interest and a 20% interest respectively
Q4 2006 - Sedano Basin – Ascent drilled dry hole Hontomin-4 well in the Huermeces concession
February 2006 - Ascent Resources acquired a further 25% interest in the 115 bopd Ayoluengo oil field, taking Ascent's stake to 88.75%. The average cost of Ascent's stake was just over US$6.00 per barrel of reserves. Ascent invested to increase the production rate of the field.
November 2005 – Ascent acquired a further 13.75% stake raising its total interest to 63.75% in the Ayoluengo field.
October 2005 - Ascent acquired a 50% interest in the La Lora concession that contains the Ayoluengo oil field.
In September 2005 - Ascent entered in to an agreement to acquire a 50% interest in the Huermeces, Valderredible and Basconcillos-H exploration permits covering 556 km2 in the Sedano basin.
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