News for 2010
2008, 2009, 2010
Ascent through its subsidiary Ascent Resources (Netherlands) BV ('ARN'), has increased its interest in the M10/11 block in the southern North Sea off the Netherlands' coast. Following the transfer of McLaren Resources Inc's ('McLaren') 27% interest in the block, ARN now holds a 54% interest in the project. McLaren will receive a 3% net profit interest from ARN on the 27% interest transferred and a one-off payment of $125,000 CDN if the licence extension for drilling is granted. Other partners in the project are EBN with 40% and GTO with 6%. (Read More)
Jeremy Eng, Managing Director of Ascent, has transferred 2,000,000 ordinary shares of 0.1p each in the Company ('Shares') into his Self Invested Personal Pension ('SIPP'). This transfer was effected by the sale on 1 July 2010 of 2,000,000 Shares by Jeremy Eng at a price of 3.615p a Share and by the purchase on 1 July 2010 of 2,000,000 Shares by Jeremy's SIPP at a price of 3.635p. This does not change Jeremy Eng's beneficial ownership of 4,808,557 Shares, representing 0.93 per cent. of the issued share capital of the Company. (Read More)
Ascent through its subsidiary Ascent Slovenia Limited ('ASL'), has increased its interest in the Petišovci project in Slovenia, following the transfer of Kulczyk Oil Ventures Inc's (formerly Loon Energy Inc) ('KOV') 30% stake in the Dolina shallow oil field, and 10.5% stake in the Globoki deep gas field. In addition to a small cash payment, a royalty will be paid by ASL to KOV of an additional 60,000 USD for each billion cubic feet of independently certified 2P gas reserves produced in the future, applicable to the acquired interest. Under the terms, Ascent will assume all development costs related to the acquired interest. (Read More)
Ascent held its Annual General Meeting today and all resolutions were duly passed. (Read More)
Ascent confirms that its Annual Report for the year ended 31 December 2009 was posted to shareholders on 4 June 2010 and is also available on its website at www.ascentresources.co.uk. (Read More)
Ascent through its subsidiary PetroHungaria kft, has successfully acidized the PEN-101A well in the Penészlek area of the Nyírség exploration permits in eastern Hungary. Production is on-going from the PEN-105 well at an improved rate of 2.53 MMscfd with 37 barrels per day of condensate (71,700 m3/day; 459 boed) and PEN-101A will add to this production. (Read More)
Ascent presented at an event hosted by 'Proactive Investors' yesterday evening and an electronic copy of the updated corporate presentation can be found on Ascent's website, www.ascentresources.co.uk. (Read More)
Ascent announces its final results for the year ended 31 December 2009. (Read More)
Ascent through its subsidiary PetroHungaria kft, has successfully completed the PEN-101 sidetrack, part of the Penészlek Project, in the Nyírség exploration permits of eastern Hungary. (Read More)
Ascent has produced an updated corporate presentation. An electronic copy can be found on Ascent's website, www.ascentresources.co.uk. (Read More)
Ascent through its wholly owned subsidiary Ascent Resources Italia srl, has agreed terms with farm-in partner Otto Energy Limited ('Otto') for Otto's withdrawal from the Cento & Bastiglia exploration permit ('the Permit') in the Po Valley of northern Italy. Under the terms of the withdrawal, Ascent will retain 100% of the licence and Otto will immediately contribute funds towards potential restoration costs and forfeit its entitlement to the refund of any value added tax ('VAT') due on the project. (Read More)
Ascent was informed on 23 April 2010 by Tiger Resource Finance Plc, that following the sale of 8 million shares in the Company on 22 April 2010, Tiger Resource Finance Plc is no longer a significant shareholder in the Company. (Read More)
Ascent has sold its 100% owned Swiss subsidiary, PEOS AG ('PEOS'), to eCORP Europe International Ltd. ('eCORP'), for a cash consideration of €8 million, together with various farm-in options on certain potentially successful discoveries ('the Transaction'). (Read More)
Ascent through its wholly owned subsidiary Ascent Resources Italia srl ('ARI'), has completed operations on the Fontana-1 well in Italy's Latina Valley. A core sample taken from the limestone of the target Carbonate Platform formations contained live oil, while deeper dolomite horizons have been shown to contain water from data acquired from logging tools. The Partners believe that the results are sufficiently encouraging to proceed with the permitting of a hydrocarbon appraisal well, the Anagni-2, located within 1 km of the Fontana-1 location, which will target a smaller adjacent structure. (Read More)
Ascent through its subsidiary PetroHungaria kft, announces that it is currently drilling the PEN-106 well, part of the Penészlek Project in the Penészlek area of the Nyírség exploration permits in eastern Hungary. (Read More)
Ascent was informed on the 26 March 2010 by Tiger Resource Finance Plc ('Tiger Resource Finance'), that as at 16 March 2010, Tiger Resource Finance was interested in 17,642,857 ordinary shares, representing 3.4% of the issued share capital of the Company. (Read More)
Ascent through its wholly owned subsidiary Nemmoco Slovenia Corporation ('NSC'), has completed the 3-D seismic processing and the preliminary interpretation for the Petišovci project in Slovenia with positive results. (Read More)
Ascent through its subsidiary PetroHungaria kft, provides an update on production and testing in the Penészlek area of the Nyírség permits in Hungary. (Read More)
Ascent was informed on 19 March 2010 by Malcolm Groom, that as at 19 March 2010, Malcolm Groom was interested in 17,527,686 ordinary shares of 0.1 pence each in the Company, representing 3.4% of the issued share capital of the Company. (Read More)
Ascent announces that on 17 March 2010, Jeremy Eng, Managing Director of Ascent, exercised options over 1,000,000 ordinary shares of 0.1p each in the Company at a price of 5.0p per share. Following this purchase, Mr. Eng is interested in 4,808,557 ordinary shares in the Company, representing 0.93 per cent. of the issued share capital of the Company. (Read More)
Ascent announces that following the passing of the resolution at the Extraordinary General Meeting on 12 March it has issued 15,529,981 ordinary shares of 0.1 pence each in Ascent ('Ordinary Shares') to Director Malcolm Groom. Following admission, Mr Groom will be interested in 17,527,686 shares of Ascent representing 3.40% of the total issued shares. (Read More)
Ascent held an Extraordinary General Meeting today and the resolution was duly passed. (Read More)
Ascent through its subsidiary PetroHungaria kft, has successfully tested and completed the PEN-101 well, in the Penészlek area of the Nyírség exploration permits in eastern Hungary. Once the rig has departed the site, the PEN-105 well will commence production to sales. (Read More)
Ascent has agreed to sell a 45% interest in Italian drilling contractor Perazzoli Drilling srl ('Perazzoli') for a cash consideration of €1.85 million. The Company's original interest was purchased to provide priority access, and ensure optimal contract terms for drilling services. These advantages will be retained through a five year service alliance with Perazzoli, which provides for a 30% discount on €10 million of drilling services to Ascent and first call on uncommitted drilling units. Perazzoli owns three drilling units including a state-of-the-art HH-200 unit which provides low environmental impact drilling capability. (Read More)
Ascent through its subsidiary PetroHungaria kft, has commenced the drilling of the PEN-101 well, part of the Penészlek Project, in the Penészlek area of the Nyírség exploration permits in eastern Hungary. (Read More)
Ascent through its wholly owned subsidiary Ascent Resources Italia srl ('ARI'), will commence the re-drilling of the Fontana-1 well in the next few days. The drilling rig has arrived on location, drilling is expected to take a month and is designed to collect cores to appraise the shallow part of the Anagni structure in the Frosinone Exploration permit in the Latina Valley of Italy. Re-drilling of the well is necessary as the original well, while having demonstrated the presence of the target formations in a structurally high position, experienced mechanical problems which prevented the collection of core samples. (Read More)
Ascent has issued options, in relation to the recently announced placing to raise £6m, to Astaire Securities to subscribe for 5,700,000 ordinary shares, exercisable at 6.25p, and expiring on 15 December 2012. (Read More)
Increase in Interest in North Sea Blocks M10/M11
15 July, 2010Ascent through its subsidiary Ascent Resources (Netherlands) BV ('ARN'), has increased its interest in the M10/11 block in the southern North Sea off the Netherlands' coast. Following the transfer of McLaren Resources Inc's ('McLaren') 27% interest in the block, ARN now holds a 54% interest in the project. McLaren will receive a 3% net profit interest from ARN on the 27% interest transferred and a one-off payment of $125,000 CDN if the licence extension for drilling is granted. Other partners in the project are EBN with 40% and GTO with 6%. (Read More)
Director's Dealing
02 July, 2010Jeremy Eng, Managing Director of Ascent, has transferred 2,000,000 ordinary shares of 0.1p each in the Company ('Shares') into his Self Invested Personal Pension ('SIPP'). This transfer was effected by the sale on 1 July 2010 of 2,000,000 Shares by Jeremy Eng at a price of 3.615p a Share and by the purchase on 1 July 2010 of 2,000,000 Shares by Jeremy's SIPP at a price of 3.635p. This does not change Jeremy Eng's beneficial ownership of 4,808,557 Shares, representing 0.93 per cent. of the issued share capital of the Company. (Read More)
Increase in Interest in Petisovci Project
01 July, 2010Ascent through its subsidiary Ascent Slovenia Limited ('ASL'), has increased its interest in the Petišovci project in Slovenia, following the transfer of Kulczyk Oil Ventures Inc's (formerly Loon Energy Inc) ('KOV') 30% stake in the Dolina shallow oil field, and 10.5% stake in the Globoki deep gas field. In addition to a small cash payment, a royalty will be paid by ASL to KOV of an additional 60,000 USD for each billion cubic feet of independently certified 2P gas reserves produced in the future, applicable to the acquired interest. Under the terms, Ascent will assume all development costs related to the acquired interest. (Read More)
Result of AGM
28 June, 2010Ascent held its Annual General Meeting today and all resolutions were duly passed. (Read More)
Notice of AGM and Posting of Report and Accounts
16 June, 2010Ascent confirms that its Annual Report for the year ended 31 December 2009 was posted to shareholders on 4 June 2010 and is also available on its website at www.ascentresources.co.uk. (Read More)
Peneszlek Production Update
07 June, 2010Ascent through its subsidiary PetroHungaria kft, has successfully acidized the PEN-101A well in the Penészlek area of the Nyírség exploration permits in eastern Hungary. Production is on-going from the PEN-105 well at an improved rate of 2.53 MMscfd with 37 barrels per day of condensate (71,700 m3/day; 459 boed) and PEN-101A will add to this production. (Read More)
New Presentation
21 May, 2010Ascent presented at an event hosted by 'Proactive Investors' yesterday evening and an electronic copy of the updated corporate presentation can be found on Ascent's website, www.ascentresources.co.uk. (Read More)
Final Results
18 May, 2010Ascent announces its final results for the year ended 31 December 2009. (Read More)
PEN-101 Completion
11 May, 2010Ascent through its subsidiary PetroHungaria kft, has successfully completed the PEN-101 sidetrack, part of the Penészlek Project, in the Nyírség exploration permits of eastern Hungary. (Read More)
New Presentation on Website
04 May, 2010Ascent has produced an updated corporate presentation. An electronic copy can be found on Ascent's website, www.ascentresources.co.uk. (Read More)
Partner Withdrawal from Po Valley Permit
28 April, 2010Ascent through its wholly owned subsidiary Ascent Resources Italia srl, has agreed terms with farm-in partner Otto Energy Limited ('Otto') for Otto's withdrawal from the Cento & Bastiglia exploration permit ('the Permit') in the Po Valley of northern Italy. Under the terms of the withdrawal, Ascent will retain 100% of the licence and Otto will immediately contribute funds towards potential restoration costs and forfeit its entitlement to the refund of any value added tax ('VAT') due on the project. (Read More)
Holding(s) in Company
23 April, 2010Ascent was informed on 23 April 2010 by Tiger Resource Finance Plc, that following the sale of 8 million shares in the Company on 22 April 2010, Tiger Resource Finance Plc is no longer a significant shareholder in the Company. (Read More)
Sale of Swiss Subsidiary for €8m with Rights
22 April, 2010Ascent has sold its 100% owned Swiss subsidiary, PEOS AG ('PEOS'), to eCORP Europe International Ltd. ('eCORP'), for a cash consideration of €8 million, together with various farm-in options on certain potentially successful discoveries ('the Transaction'). (Read More)
Operations Update for Italy and Hungary
19 April, 2010Ascent through its wholly owned subsidiary Ascent Resources Italia srl ('ARI'), has completed operations on the Fontana-1 well in Italy's Latina Valley. A core sample taken from the limestone of the target Carbonate Platform formations contained live oil, while deeper dolomite horizons have been shown to contain water from data acquired from logging tools. The Partners believe that the results are sufficiently encouraging to proceed with the permitting of a hydrocarbon appraisal well, the Anagni-2, located within 1 km of the Fontana-1 location, which will target a smaller adjacent structure. (Read More)
PEN-106 Drilling Update
01 April, 2010Ascent through its subsidiary PetroHungaria kft, announces that it is currently drilling the PEN-106 well, part of the Penészlek Project in the Penészlek area of the Nyírség exploration permits in eastern Hungary. (Read More)
Holding(s) in Company
26 March, 2010Ascent was informed on the 26 March 2010 by Tiger Resource Finance Plc ('Tiger Resource Finance'), that as at 16 March 2010, Tiger Resource Finance was interested in 17,642,857 ordinary shares, representing 3.4% of the issued share capital of the Company. (Read More)
Results of 3-D Seismic for the Petisovci Project
25 March, 2010Ascent through its wholly owned subsidiary Nemmoco Slovenia Corporation ('NSC'), has completed the 3-D seismic processing and the preliminary interpretation for the Petišovci project in Slovenia with positive results. (Read More)
Hungarian production and testing update
23 March, 2010Ascent through its subsidiary PetroHungaria kft, provides an update on production and testing in the Penészlek area of the Nyírség permits in Hungary. (Read More)
Holding(s) in Company
22 March, 2010Ascent was informed on 19 March 2010 by Malcolm Groom, that as at 19 March 2010, Malcolm Groom was interested in 17,527,686 ordinary shares of 0.1 pence each in the Company, representing 3.4% of the issued share capital of the Company. (Read More)
Director/PDMR Shareholding
18 March, 2010Ascent announces that on 17 March 2010, Jeremy Eng, Managing Director of Ascent, exercised options over 1,000,000 ordinary shares of 0.1p each in the Company at a price of 5.0p per share. Following this purchase, Mr. Eng is interested in 4,808,557 ordinary shares in the Company, representing 0.93 per cent. of the issued share capital of the Company. (Read More)
Issue of Equity
16 March, 2010Ascent announces that following the passing of the resolution at the Extraordinary General Meeting on 12 March it has issued 15,529,981 ordinary shares of 0.1 pence each in Ascent ('Ordinary Shares') to Director Malcolm Groom. Following admission, Mr Groom will be interested in 17,527,686 shares of Ascent representing 3.40% of the total issued shares. (Read More)
Result of EGM
12 March, 2010Ascent held an Extraordinary General Meeting today and the resolution was duly passed. (Read More)
Hungarian testing and production update
10 March, 2010Ascent through its subsidiary PetroHungaria kft, has successfully tested and completed the PEN-101 well, in the Penészlek area of the Nyírség exploration permits in eastern Hungary. Once the rig has departed the site, the PEN-105 well will commence production to sales. (Read More)
Disposes of interest in Perazzoli Drilling
22 February, 2010Ascent has agreed to sell a 45% interest in Italian drilling contractor Perazzoli Drilling srl ('Perazzoli') for a cash consideration of €1.85 million. The Company's original interest was purchased to provide priority access, and ensure optimal contract terms for drilling services. These advantages will be retained through a five year service alliance with Perazzoli, which provides for a 30% discount on €10 million of drilling services to Ascent and first call on uncommitted drilling units. Perazzoli owns three drilling units including a state-of-the-art HH-200 unit which provides low environmental impact drilling capability. (Read More)
PEN-101 Drilling Commences
09 February, 2010Ascent through its subsidiary PetroHungaria kft, has commenced the drilling of the PEN-101 well, part of the Penészlek Project, in the Penészlek area of the Nyírség exploration permits in eastern Hungary. (Read More)
Re-drilling of Fontana-1
02 February, 2010Ascent through its wholly owned subsidiary Ascent Resources Italia srl ('ARI'), will commence the re-drilling of the Fontana-1 well in the next few days. The drilling rig has arrived on location, drilling is expected to take a month and is designed to collect cores to appraise the shallow part of the Anagni structure in the Frosinone Exploration permit in the Latina Valley of Italy. Re-drilling of the well is necessary as the original well, while having demonstrated the presence of the target formations in a structurally high position, experienced mechanical problems which prevented the collection of core samples. (Read More)
Issue of Options
19 January, 2010Ascent has issued options, in relation to the recently announced placing to raise £6m, to Astaire Securities to subscribe for 5,700,000 ordinary shares, exercisable at 6.25p, and expiring on 15 December 2012. (Read More)
