.

Nice rise today, perhaps the overhang is clearing and the long term seller is nearly sold out.

More good volume. As at 13:50 L2 is looking better with another MM moving up. Now 3 v 2 @ 3.75/4 so we might get another rise today.

Excellent news.....looks like the reserves are much bigger than first thought and over a wider area.

http://www.investegate.co.uk/Article.aspx?id=200903300700156689P

RNS Number : 6689P
Ascent Resources PLC

30 March 2009

Hungarian Drilling Update

Ascent Resources plc, the AIM-traded oil and gas exploration and production company, through its 45.23% owned subsidiary PetroHungaria kft ('PetroHungaria'), has started drilling PEN-104A, a sidetrack well to the gas producing PEN-104 well in the Penzlek area of the Nys permits of eastern Hungary.

The PEN-104 discovery well, originally drilled in 2006 by PetroHungaria, produced gas from August 2008 to February 2009 with cumulative production of 509 MMscf (14.41 million sm3). Following the acquisition of 3-D seismic in the area and as a consequence of a compressor failure in the regional gas supply infrastructure, PetroHungaria decided to drill the 104A sidetrack to reach additional gas reserves in a higher part of the structure. The sidetrack is expected to take about three weeks to complete and can be brought on production immediately through the existing facilities.

As a further consequence of the 3-D seismic results, plans are being made to drill PEN-105, an appraisal well of the PEN-12 gas discovery drilled in 1983, and PEN-102A, a sidetrack of the PEN-102 well drilled by PetroHungaria in 2006. Permitting for these wells and their associated pipelines is underway. The drilling of an appraisal of the PEN-9 gas discovery is also being assessed and the drilling of further wells in the area where the 3-D seismic was acquired is under consideration.

Ascent holds a 45.23% interest in the Penzlek Project through its equity interest in PetroHungaria. Other partners include DualEx (37.5%), Geomega (8%), Leni Gas & Oil (7.27%) and Swede Resources (2%).

Ascent Managing Director Jeremy Eng said, 'The extent of the reserves that are present in the Penzlek area are only now becoming apparent with the 3-D seismic being instrumental in identifying the potential. Importantly, these estimates do not yet include any contribution from the rehabilitation of the old Penzlek gasfield where the seismic clearly shows that the configuration is very different from previous interpretations. We can expect cashflow from these gas production projects to continue for some years yet.'

* * ENDS * *

Up on a down day, which is good to see.

The bit that grabs you is

Ascent Managing Director Jeremy Eng said, 'The extent of the reserves that are present in the Penzlek area are only now becoming apparent with the 3-D seismic being instrumental in identifying the potential. Importantly, these estimates do not yet include any contribution from the rehabilitation of the old Penzlek gasfield where the seismic clearly shows that the configuration is very different from previous interpretations. We can expect cashflow from these gas production projects to continue for some years yet.'

That is very good news !

I'm still holding PP!

Me too, had a large top up at under 3p as well !

Some buying interest being generated in front of drilling results expected shortly.

Buying activity picking up.

Very good news all around, for the present and the future.



Hungarian Update (Ascent Resources)

RNS Number : 7997Q
Ascent Resources PLC
20 April 2009

Ascent Resources plc, the AIM-traded oil and gas exploration and production
company, through its subsidiary PetroHungaria kft ('PetroHungaria'), has
successfully completed and tested the PEN-104A side track of the PEN-104 gas
producing well in the Penzlek area of the Nys permits of eastern
Hungary. The Company expects production at the well to commence in the coming
days following disassembling of the drilling rig and reconnection of the flow
line.


Drilling of the PEN-104A target reservoir sands was completed as anticipated and
during a short period of clean-up flow, the well produced gas at an estimated
rate of approximately 70,000 Sm3 per day (approximately 2.5 MMscfd). Ascent
holds a 45.23% interest in the Penzlek Project through its equity interest in
PetroHungaria. Other partners include DualEx (37.5%), Geomega (8%), Leni Gas &
Oil (7.27%) and Swede Resources (2%).


Ascent Managing Director Jeremy Eng said, "This is an excellent development for
Ascent's Hungarian operations and a boost to our production profile. We are
particularly pleased with the efficient manner in which the PetroHungaria
operations team completed this complex deviated well on time and according to
plan. The success of PEN-104A also gives us great confidence in the 3-D seismic
data from which this side track project was initially conceived as we continue
to plan the drilling of further wells in the area of the 3-D acquisition."


Additionally in Hungary, Ascent, under the terms of the JOA on the Szolnok
exploration licence which expired on the 19th March 2009, has assigned its
residual 12.5% interest to its joint venture partners. The joint venture
partners have a one year period after the expiration of the licence to prepare a
closing report and to apply for mining plots for areas which have proven
hydrocarbons should they wish to develop them.


The technical information contained in this release has been reviewed and
approved Dr Clive Ninnes, Ascent's Engineering Manager. Dr Ninnes, a member of
SPE has 28 years relevant experience in the evaluation of hydrocarbon resources.


* * ENDS * *


Glossary
Nm3Normal cubic metres of gas
MMscfd Millions of standard cubic feet of gas per day
3-D seismic High resolution seismic processed in three dimensions
JOA Joint Operating Agreement
SPE Society of Petroleum Engineers

Very good news all around, for the present and the future.



Hungarian Update (Ascent Resources)

RNS Number : 7997Q
Ascent Resources PLC
20 April 2009

Ascent Resources plc, the AIM-traded oil and gas exploration and production
company, through its subsidiary PetroHungaria kft ('PetroHungaria'), has
successfully completed and tested the PEN-104A side track of the PEN-104 gas
producing well in the Penzlek area of the Nys permits of eastern
Hungary. The Company expects production at the well to commence in the coming
days following disassembling of the drilling rig and reconnection of the flow
line.


Drilling of the PEN-104A target reservoir sands was completed as anticipated and
during a short period of clean-up flow, the well produced gas at an estimated
rate of approximately 70,000 Sm3 per day (approximately 2.5 MMscfd). Ascent
holds a 45.23% interest in the Penzlek Project through its equity interest in
PetroHungaria. Other partners include DualEx (37.5%), Geomega (8%), Leni Gas &
Oil (7.27%) and Swede Resources (2%).


Ascent Managing Director Jeremy Eng said, "This is an excellent development for
Ascent's Hungarian operations and a boost to our production profile. We are
particularly pleased with the efficient manner in which the PetroHungaria
operations team completed this complex deviated well on time and according to
plan. The success of PEN-104A also gives us great confidence in the 3-D seismic
data from which this side track project was initially conceived as we continue
to plan the drilling of further wells in the area of the 3-D acquisition."


Additionally in Hungary, Ascent, under the terms of the JOA on the Szolnok
exploration licence which expired on the 19th March 2009, has assigned its
residual 12.5% interest to its joint venture partners. The joint venture
partners have a one year period after the expiration of the licence to prepare a
closing report and to apply for mining plots for areas which have proven
hydrocarbons should they wish to develop them.


The technical information contained in this release has been reviewed and
approved Dr Clive Ninnes, Ascent's Engineering Manager. Dr Ninnes, a member of
SPE has 28 years relevant experience in the evaluation of hydrocarbon resources.


* * ENDS * *


Glossary
Nm3Normal cubic metres of gas
MMscfd Millions of standard cubic feet of gas per day
3-D seismic High resolution seismic processed in three dimensions
JOA Joint Operating Agreement
SPE Society of Petroleum Engineers

Moving up after good RNS spread wider MM's must be worried!

Up 30+% so far.

On the up again today.

FRONTERA RESOURCES/FRR rumoured 4 well drill update imminent and 1.2m barrel major discovery in the tirabi field.50-60p

Good day for Ascent.

So much potential and still so cheap. The earlier research report has a present target price of 15p in the present state, ahead of any upside from the Gazetta drill.

RNS Number : 0153R
Ascent Resources PLC
23 April 2009

Gazzata-1 Drilling Update

Ascent Resources plc, the AIM-traded oil and gas exploration and production company, through its wholly owned subsidiary Ascent Resources Italia srl ('ARI'), is completing the construction of the Gazzata-1 wellsite near the city of Modena in Italy's Po Valley. The mobilisation of the Perazzoli (Ascent 22.5% owned) HH-200 drilling rig is scheduled to start on the 5th May 2009 and spudding of the well is anticipated circa 10 days later.


The Gazzata-1 well, which targets a large gas prospect at 2,100m, is expected to take about a month to complete. Otto Energy of Australia has a farm-in agreement with Ascent whereby it will earn a 50% working interest in the project through the funding of the well. If the Gazzata-1 well is a significant discovery, Otto Energy will also fund a second well.


Ascent Managing Director Jeremy Eng said, 'The Gazzata prospect is both large and well defined on the seismic data and we look forward to the commencement of drilling. A gas discovery at this location would undoubtedly prove to be very valuable for Ascent and I look forward to providing updates as the work progresses.'


* * ENDS * *


Notes

Ascent Resources plc has a diversified portfolio of some 20 hydrocarbon exploration and development projects across five countries in Europe: Italy, Switzerland, Hungary, Slovenia and Netherlands. Ascent's portfolio contains a solid base of field redevelopment projects with selected exposure to exploration upside. The portfolio is focussed on gas and with the exception of the shallow water Netherlands project, all of its projects are located onshore where operating and development costs are substantially lower than they are offshore. Ascent also has an oil and gas asset management joint venture with San Severina Holdings SA, a Swiss based investment company, which is focused on acquiring minority interests and providing investment funding for producing and development or appraisal stage oil and gas projects.

Given the pretty vertical take off of late, one should expect a retrace to say 5p levels (as people take profits).

Given its May soon, and May is generally not a good month for shares, some profit taking might be expected therefore, before the real build up to the G-1 drilling results.

Coming up for over a 3 bagger now for me :)

Will it consolidate ? Will it be 6p or 7p or even higher before there is a back test to firm up the rise.

Don't care, it can stay blue for ever more, but it will not thats for sure.

It's been a long time coming, but it is looking better for AST now.

Patience is the key to making money. When most were being stupid, I was buying like mad at under 3p.

Today I am more than happy, and holding on for the G-1 drill results, and more..... :)