Petišovci

  Slovenia

On securing an interest in this project, Ascent initiated the acquisition, in 2009, of an extensive 3D seismic survey across the Petišovci area.  This was the first ever 3D seismic acquired in Slovenia and the permitting for this required the agreement of over 10,000 landowners. 

Interpretation of the seismic data provided a greater insight into the field structure and indicated zones of potentially better reservoir quality.   The structure has two sets of reservoirs, the shallower Upper Miocene and the deeper Middle and Lower Miocene. The deeper Miocene reservoirs are Ascent's development objective as the shallow reservoirs were extensively developed during the 1960s and are considered to be almost fully depleted.

In 2011 two new appraisal wells, Pg-10 and Pg-11, were drilled to a total vertical depth of 3,497 m and 3,500 m respectively.  Gas was confirmed in all the known Middle Miocene Badenian reservoirs.  In addition, gas and condensate were sampled from the deeper Middle Miocene reservoirs and gas flowed for the first time from the shallowest 'A' sands.  The new data generated from the Pg-11 well, including three 18 m core samples and state-of-the-art wire line logging, supplemented the 3D survey of the project area and enabled the Company to move forward with the next phase of the well programme, which was to drill a production side track, Pg-11A.  Drilling was completed by the end of May 2011 to a total vertical depth of 3,500 m.

Pg-10 and Pg-11A were both successfully fracture stimulated in 2011, tested gas to the surface and proved the extension of the Petišovci resource by discovering deeper, previously undrilled, gas-bearing Pg sand intervals.  The Company has reported independently verified P50 estimate of gas-in-place of 456 Bcf (13 Bm3; 76 MMboe).  

Both wells have been recompleted ready for a production testing phase which will help to better understand the long term productivity performance of the reservoir. The test production results will inform decisions regarding a possible full field Petišovci development.

Importantly for development, the area is serviced by excellent infrastructure and has existing gas pipeline connections.  Some improvements to these existing facilities will be required for the testing phase and the Company is in discussion with various parties with the object of securing funding.

The Company believes that this project, with its potentially high levels of recoverable gas, to be an excellent, high value asset due to its scale and risk/reward profile. 

Ascent’s interest:    75%
Geoenergo’s interest:    25%

Petišovci - PROJECT NEWS Doublearrow

01/08/2016
Signing of Gas Sales & Purchase Agreement
05/07/2016
Operational Update
01/06/2016
Operational Update
06/05/2016
IPPC Permit Decision
06/04/2016
IPPC Permit
24/02/2016
Operational Update
16/12/2015
Operational & IPPC permit update
30/09/2015
Interim results for the period ended 30 June 2015
24/07/2015
IPPC Permit Update
24/06/2015
Provisional Award of IPPC Permit
18/05/2015
Posting of Report and Accounts & Notice of AGM
12/05/2015
£7 million loan facility
12/05/2015
Final results for the year ended 31 December 2014
02/02/2015
Variation of Terms of Convertible Loan Notes
24/12/2014
IPPC permit and CLN restructuring
04/08/2014
Update on Subscription by Global Power Sources
05/02/2014
Convertible Loan Note Issue
18/12/2013
Funding Update and Resolution of Warranty Issues
31/10/2013
Signing of key contracts in Slovenia
27/06/2013
AGM Statement
26/10/2012
Statement re. Press Speculation
29/05/2012
BNP Paribas Credit Agreement
23/02/2012
22% Increase in Gas-in-Place for Petišovci Project
25/11/2011
High Gas Flows from Successful Pg-10
02/11/2011
Preliminary Pg-11A Results
19/10/2011
Successful Pg-11 Fracture Stimulation
23/08/2011
Positive Pg-10 Results
23/06/2011
Second Redevelopment Well Spuds in Slovenia
13/06/2011
Petišovci Project Update
24/05/2011
Petišovci, Slovenia - Pg-11A Update
06/04/2011
Result of General Meeting
16/02/2011
Petišovci, Slovenia Drilling Update
11/02/2011
EnQuest transaction completed
02/02/2011
EnQuest Completion and Slovenia Update
22/12/2010
Drilling of Pg-11 in Slovenia Commences
21/12/2010
Acquisition of interest in the Petišovci Project
02/12/2010
Drilling Update
19/11/2010
Drilling & Financing
13/10/2010
Replacement: 412 Bcf resource at Petisovci-Lovaszi
01/07/2010
Increase in Interest in Petisovci Project
25/03/2010
Results of 3-D Seismic for the Petisovci Project
15/12/2009
Operations Update - Replacement
06/07/2009
Replacement - Hungary Project Expansion
HISTORY