June 2008 Presentation : Link here

March 2008 AST Write Up : Link TMF Post Ascent Article Archive Folder : Link to AST archive folder

Detailed Info on Italian Prospects : Link to post 2 (Explo.)

Detailed Info on Swiss Prospects : Link to post 3 (Explo.)

Detailed Info on Spanish Prospects : Link to post 4 (Prod. + Explo.)

Detailed Info on Dutch Prospects : Link to post 5 (Explo.)

Detailed Info on Hungarian Prospects : Link to post 6 (Prod + Explo.)

Detailed Info on Slovenia & Gabon Prospects : Link to post 7 (Explo.)



Web Site : http://www.ascentresources.co.uk

Email : info@ascentresources.co.uk

Sign up for email news alerts here : Click Here


Oil and Gas Guide for those who want to know more : Link to PDF file

Solid good news today, and drilling of their first 2006 campaign well starts on the 21st October :)


Award of exploration licences

RNS Number:5323K
Ascent Resources PLC
16 October 2006

Ascent Resources plc / Epic: AST / Index: AIM / Sector: Oil and Gas

Ascent Resources plc ("Ascent" or "the Company")

North Sea Licences awarded by Dutch Government

Ascent Resources plc, the AIM traded oil and gas exploration and production
company, through its 90% owned joint venture (JV) with GTO Limited, has been
awarded four exploration licences covering a total area of 795 square kilometres
by the Dutch Government.
The P4, M8, M10 and M11 licences were identified by the JV following a technical
evaluation by GTO and Ascent. The technical work focussed on the newly
recognised Carboniferous exploration plays as well as the traditional
Rotleigendes plays. Gas was discovered within the M11 permit (M11-01) in 1982
following a drill programme by NAM, and was tested at a rate of 6,600 cu.m per
day (233 Mscfd) from the Upper Slochteren sandstones of the Rotliegendes (as
reported by TNO on behalf of the Dutch Ministry of Economic Affairs). In the
area of M8, M10 and M11 a 3-D seismic survey is due for release next month and
this will form the basis for the new exploration effort.
To assist in the funding of this exploration, Ascent has agreed a farm-in from
Canadian company McLaren Resources Inc ("McLaren"), whereby McLaren will pay
62.5% of the JV costs for a 45% beneficial interest. Also, under the terms of
the GTO JV agreement, GTO will receive 814,941 Ordinary Ascent Shares of 0.001p
at a price of 11.78p (being the average price over the past six months).
Ascent Managing Director Jeremy Eng said: "The award of these licences in the
Netherlands adds a new dimension to Ascent. These are the Company's first
offshore assets and they are in the shallow waters of the southern North Sea.
The exploration targets are gas reservoirs and the M11 block already contains a
gas discovery. With Wintershall, Gaz de France and NAM (Shell-ESSO) all
operating nearby, it is our expectation that the gas potential of this area will
be developed quickly."

Additionally, following the Letter of Intent from Swedish Company PetroPequnia
AB announced on 23rd August 2006 regarding the exploration and development of
the hydrocarbon resources of the Nyirseg Del and Nyirseg Szatmar exploration
permits in north-eastern Hungary, Ascent has finalised an agreement, whereby
PetroPequnia AB will farm-in for a 2% working interest. They will pay a
contribution to back-costs as well as 4% of the cost of the drilling programme
with up to four wells. The terms of the agreement are the same as those
previously agreed with DualEx Nyirseg Inc and also announced on 23rd August.
For this project, the drilling rig is currently in transit to the first drilling
location and is expected to commence drilling the PEN-104 well on 21st October
2006.

* * ENDS * *

For further information visit www.ascentresources.co.uk or contact:
Jeremy Eng Ascent Resources plc Tel: 020 7251 4905
Hugo de Salis St Brides Media & Finance Ltd Tel: 020 7242 4477

Notes
Ascent Resources has an extensive portfolio of over 20 oil and gas projects
across six countries in Europe. The projects are onshore in Italy, Switzerland,
Hungary, Spain and Romania and now offshore the Netherlands. Ascent is
commencing a programme of six exploration wells, at least two in Hungary and two
each in Spain and Italy. In 2007, high impact gas exploration wells are also
planned in the Po Valley in Italy and in Switzerland. Ascent will also
participate in up to four non-operated exploration wells in the Aurelian Oil &
Gas PLC led project in Romania (5% Ascent) from where gas production from the
Bilca development has just commenced. Ascent also produces about 100 barrels of
oil daily from Spain's only onshore oilfield.

With the strong and stable European gas market, Ascent's portfolio favours gas
over oil and, with the exception of the Netherlands, all of its projects are
located onshore where operating and development costs are less than they are
offshore.

Ascent's Board of Directors are specialists in the oil and gas business and each
director has extensive expertise and experience in commercialising energy
assets. The Company's Board and Executive Management provide the basis upon
which Ascent can accommodate the rapid growth that will accompany a discovery
made during the drilling campaign.

Write up on the link below :


http://www.oilbarrel.com/email_index.html?page=/news/article.html?body=1&key=oilbarrel_en:1161138903&feed=oilbarrel_en


18.10.2006

Ascent Resources Makes Its First Move Offshore In The Increasingly Popular Dutch North Sea


It may not be wildcatting on the Atlantic Margins or breaking new ground in under-explored corners of Africa but the Netherlands is starting to attract......................................................

Ascent Resources PLC
23 October 2006

Ascent Resources plc ('Ascent' or 'the Company')

Commences Drill Programme with First Well in Hungary

Ascent Resources plc, the AIM traded oil and gas exploration and production
company, announces that its drilling campaign is now underway with the spudding
of the PEN-104 well in Hungary.

PetroHungaria kft (a 90% owned subsidiary of Ascent), spudded the PEN-104 well
on October 21, 2006. Partners in the well are DualEx of Canada (37.5%) and Petro
Pequnia of Sweden (2%). This morning at 6am (local time) the rig was drilling
ahead in 12-1/4' hole at 285m with a planned total depth (TD) of 1,350m.

PEN-104 is a re-appraisal well within the once productive Peneszlek gas field
and targets gas reservoirs in the Pannonian clastics and the underlying Miocene
tuffs. The Peneszlek gas field produced a total of 4.8 bcf (136 mcm) of gas from
six wells between 1983 and 1989. Re-mapping of the field using seismic data
acquired in 2006 by PetroHungaria leads the parties to believe that significant
reserves may be remaining.

Once PEN-104 drilling is completed, the rig will be moved to the FGY-2 location
in the north part of the block. The group then has the option to drill two
further wells in the western part of the acreage in the first half of 2007.

* * ENDS * *
For further information visit www.ascentresources.co.uk or contact:

Jeremy Eng Ascent Resources plc Tel: 020 7251 4905
Hugo de Salis St Brides Media & Finance Ltd Tel: 020 7242 4477

Notes
Ascent Resources has an extensive portfolio of over 20 oil and gas projects
across six countries in Europe. The projects are onshore in Italy, Switzerland,
Hungary, Spain and Romania and offshore the Netherlands. Ascent is commencing a
programme of six exploration wells, at least two in Hungary and two each in
Spain and Italy. In 2007, high impact gas exploration wells are also planned in
the Po Valley in Italy and in Switzerland. Ascent will also participate in up to
four non-operated exploration wells in the Aurelian Oil & Gas PLC led project in
Romania (5% Ascent) from where gas sales from the Bilca development commenced
earlier this month. Ascent also produces about 100 barrels of oil daily from
Spain's only onshore oilfield.

With the strong and stable European gas market, Ascent's portfolio favours gas
over oil and, with the exception of the Netherlands, all of its projects are
located onshore where operating and development costs are less than they are
offshore.

Ascent's Board of Directors are specialists in the oil and gas business and each
director has extensive expertise and experience in commercialising energy
assets. The Company's Board and Executive Management provide the basis upon
which Ascent can accommodate the rapid growth that will accompany a discovery
made during the drilling campaign.

Should be approaching a time when news could come out at anytime. Might see some interest building.

Kitosh the cat just got some AST yesterday ;) Wise cat !! ;)

From Petro Pequnia website

Weekly report November 3

The first well P-104 in our Hungarian drilling campaign has reach a depth of 1280 meters. Planned depth of this drilling is 1350 meters.

http://www.timesonline.co.uk/newspaper/0,,2740-2452419,00.html

The Times November 14, 2006

Rumour of the day

Ascent Resources held steady at 12p, despite whispers that the AIM-listed explorer has made its first gas discovery at its Peneszlek field in Hungary. The company began drilling the PEN-104 well last month, the first such project in the region, which abuts the Romanian border, for more than 20 years. A gas find for Ascent, which is working with Canadas DualEx, should bode well for its Nyirseg licences.

Everything comes to he who waits

Thanks PP.

The PEN-104 is situated on exploration permits that cover an area of 2,483 sq km
in Eastern Hungary adjacent to the Romanian border. It is a re-appraisal well
within the once productive Peneszlek gasfield and targets gas reservoirs in the
Pannonian Clastics and the underlying Miocene Tuffs. Once the PEN-104 well has
been suspended for future production, the rig will be moved to the northern part
of the permits to drill the Fehergyarmat 2 (FGY-2) well, which is scheduled to
commence next week.



PEN-104 Testing:
Depth (m) Formation Recovery
Top Bottom
Test 1 1,262 1,285 Miocene Tuff Some water with gas
Test 2 1,064 1,068 Pannonian Clastics Dry gas at 3.4 MMscfd

Very good news, a starter for 10!

From a guess at events and comments, it appears that the planned Italian 1 well and Spain 1 well might be delayed, and that rig sent into Hungary to do 4 additional wells a.s.a.p., this is speculation but lets wait and see.

Hungary appears to be exciting the AST board very much with this potential 4 more wells added to the plan.

http://www.envoi.co.uk/P117HungarySyn.pdf

From AFN :

novicedave - 14 Nov'06 - 17:29 - 3435 of 3439


PP- care to update the header with the below? (I realise I'm jumping the gun regarding FGY-2, but I think its justified and it'll save you updating in 2-3 days):

Does anybody have any corrections/updates to the below?



Producing:

88.75% of the Ayoluengo oil field in Northern Spain. The reserves here were acquired at an average $6/bl, and 115bpd is the current production rate. At the moment this is sufficient to cover administrative overheads (but not exploration costs). Well workovers (both maintenance and with a view to increasing production) are underway using Rig-3.

5% of the Bilca project in Romania. Sales began in early October and were expected to increase to 7,062MMscfd (1250boepd)- so c. 62boepd attributable to Ascent. This is expected to be increased over the following months.

Drill(s) complete:


Rig 1- Hungary, Pen-104 (54.45% to AST): 4m intersection flowed with a rate (under restriction) of 3.4MMscfd (600boepd). The target which flowed had a Most Likely size of 2.3bcf, but given the high flow rate this is likely to be revised upwards. The well is currently suspended for production

Drills underway:


Rig 1- Hungary, FGY-2 (54.45% to AST), targeting a shallow structure (750m) which may contain a Most Likely 17bcf recoverable, and a deeper structure (1100m) which may hold an additional Most Likely 44bcf. There are two other very similar prospects nearby which would be significantly de-risked by success here.

Drills to come (permits in place and rigs contracted):


Rig 1- Hungary, Pen-102 (54.45% to AST), targeting the eastern part of an earlier discovery (Pen-12 which flowed 1.5MMcfd from a 40m intercept) with a Most Likely 42Bcf at two horizons with an additional upside of a possible 36Bcf.

Rig 1- Hungary, Vamos Prospect (54.45% to AST), targeting a larger but higher-risk structure with an upside potential of 100Bcf.

Rig 1- From the recent RNS, which refers to four further targets in Hungary, we suspect there will be a further drill in Hungary within the current program; I suspect this is the 'Most Likely' 8bcf satellite to Pen-104.

Rig 2- Italy, Latina Valley, Frosinone Permit, Anagni-1 well (70% owned, oil target)

Rig 2- Italy, Latium Cost, Fiume Arroe (40% owned, gas target, drilled and found in 1955, 950m TD)

Rig 2- Spain, Sedano Basin, Huemeces, Hontomin-4 well (50%, oil target drilled by Chevron in 1968 which produced)

Rig 3- Spain, Sedano Basin, Basconcillos H Permit (50%), Tozo-1 well (drilled by Chevron in 1965, which flowed several hundred barrels over a five-month period; also contained an un-tested gas find)

Partner Operated- Romania, Bilca (5%), four exploration wells to be drilled.


Other activity


In Hungary we have 90% of a joint venture which has signed an agreement with MOL (Hungarian Oil and Gas company) to develop large tight (low permeability) gas reservoirs throughout Hungary. A three well program has been submitted to them for approval.

In the Canton of Vaud, Switzerland we have 90% of the JV which owns three exploration permits, (total 693.5 sq km) which contain three unappraised discoveries (from 1962/72/82) as well as unexplored Triassic potential (which is producing in neighbouring South Eastern France). The work program is currently concentrated on reprocessing seismic and geological studies.

In Italys Po Valley we have purchased a company (Vintage) with two gas exploration permits in a gas-rich, proven, valley. Following seismic reprocessing which yielded encouraging results, the environmental permits for 2 wells have been submitted, and Ascent are in the process of applying for two more. These wells are expected to be drilled in 2007.

In Italys Latina Valley a 60km seismic survey will also be shot over the Frosinone permit (70%) and the Strangolagalli permit (50%, excluding the producing Ripi oilfield).

Other permits- plans not known


In Gabon, after what looks to me like some shrewd investment (receiving back costs and 404,350 Afren shares), we have a 1.75% net profits royalty in two Production Sharing Contracts (the Iris Marin and Themis Marin, both operated by Sterling Energy who have 3D seismic over the areas and are looking to drill soon)

Holland (45.75%), offshore- Four licences covering a total of 795 square kilometres. One of these contains a discovery from 1982 which flowed at 233Mscfd. There are another two licences being processed.

anyone know how many shares tiger resources hold in this baby?

maestro, no.

http://www.oilbarrel.com/news/article.html?body=1&key=oilbarrel_en:1163555873&id=0&feed=oilbarrel_en&body=0&type=

Oil barrel coverage 15-Nov-06

Ascent Resources Ascends As Hungarian Drilling Project Opens Up New Exploration Play

There was a hearty jump in the share price of AIM-quoted Ascent Resources on Tuesday with news that the PEN-104 well in Hungary tested positive for gas. The shares gained 2.5 pence, or 20 per cent, on news of the gas strike to close at 15 pence.

The well, the first in the area for over 20 years, was drilled into the once-productive Peneszlek gas field in eastern Hungary. Ascent holds two exploration permits here - Nyirseg Del and Nyirseg Szatmar which cover 2,483 sq km close to the border with Romania. This is an area that has been neglected over the past twenty years Ascents well is the first for more than two decades but still holds attractions for oil juniors with low overheads and new ways of working.

Using modern seismic techniques, Ascent came up with a new geological model for the area. It believed there was untapped potential at Peneszlek, which between 1983 and 1989 produced a total of 4.8 billion cubic feet (bcf) of gas from Miocene tuff sediments. Re-mapping of the reservoir indicated larger-than-expected remaining reserves, which could form the basis for a re-development project.

This appears to be borne out by the results of the PEN-104 well. It tested two intervals: the deeper Miocene Tuffs failed to flow but the Pannonian Clastics produced gas at a restricted rate of 3.4 million cubic feet per day.

This is a sand that has never before been tested or produced from in this area, chief executive Jeremy Eng told oilbarrel.com. This has opened up a new exploration play in this region and de-risked the next well for us.

That well will be Fehergyarmat-2 (FGY-2), which is scheduled to spud next week. It, too, will be targeting Pannonian sands.

This [the PEN-104 well] is a very good result for us because the remaining potential on the blocks depends on this type of gas sand, said Eng.

Further drilling is planned, with four other drilling locations identified. Importantly, the costs to Ascent have been reduced by a series of farm-out agreements concluded in recent months. Last month Swedish firm PetroPequnia agreed to farm-in for a 2 per cent working interest and in return will pay a contribution to past costs plus 4 per cent of the costs of drilling up to four wells on the acreage.

This followed on from the August agreement with DualEx Nyirseg Inc, a wholly-owned subsidiary of DualEx Energy International of Canada. Under the terms of that agreement, DualEx will reimburse some of the historical exploration costs and fund 75 per cent of two new wells on the permits to earn a 37.5 per cent working interest in 45 per cent of the area of the exploration permits. DualEx then has the option to participate in two further wells to earn a 37.5 per cent working interest across the whole of the two permits.

It appears Jeremy Eng will be on http://www.stockmarket-channel.tv/ tomorrow morning - if anyone see's it please comment on what is said.

From AFN :

hope264 - 17 Nov'06 - 07:32 - 3579 of 3580


There is a small piece in today's issue of Investors Chronicle. It mentions this weeks gas discovery and then goes on to reiterate its BUY recommendation since its last one (at 11p) due to Ascents varied portfolio of assets.

PP listen to it you lazy bug*er.

You may be researching for about 10 Companies but that's no excuse.

Oh all right then, he was the secret CEO trying to persuade the panel to buy shares in his Co. No one did from what I heard, but it was a very good upbeat synopsis by JE, and I would have bought on the strength of it, oh I already have bought so maybe I won't buy more.

BTW, I am very happy with this and thanks again.

I am LTBH and cerificated, and staying there.

The short to middle termn prospects are excellent, and they are also on others shopping lists I should not be surprised.

The latest find and Spain should be able to support the coming drill campaign, oh that's what JE said.

Thanks sww :)

http://www.investegate.co.uk/Article.aspx?id=200611210700363952M

Ascent Resources PLC
21 November 2006

Ascent Resources plc / Epic: AST

Spuds Second Well in Hungary

Ascent Resources plc, the AIM-traded oil and gas exploration and production company, announces the spudding of its second well in Hungary. The Fehergyarmat 2 (FGY-2) well, with a planned total depth of 1,100m, targets Pannonian clastics, the same formations which were successfully tested in the PEN-104 well (announced 14 November 2006). The FGY-2 well, which is located approximately 70 km north north-east of PEN-104, is aimed at quantifying the extent of the gas reserves in the northern part of the Nyirseg exploration permits.

PetroHungaria kft (a 90% owned subsidiary of Ascent), with its partners DualEx of Canada (37.5%) and Petro Pequnia of Sweden (2%), has the option to drill two further wells in the permits and the same drilling rig is available to the Group in March 2007.

On PEN-104 :



****************************

On new well FGY-2 :

"2006-12-01

Weekly report December 1

Hungary
The drilling of FGY-2 is ongoing."

http://www.investegate.co.uk/Article.aspx?id=200612041101031615N

Ascent Resources PLC
04 December 2006

Ascent Resources plc ('Ascent' or 'the Company')

Spanish production and exploration update


Ascent Resources plc, the AIM-traded oil and gas exploration and production
company, has made significant progress with its production and exploration
activities in the Sedano Basin in Northern Spain, which it believes has
considerable upside potential. The Company has stabilised production from the
Ayoluengo field, obtained permits for two appraisal wells to be drilled in known oil bearing structures in its exploration areas and submitted an application for contiguous exploration acreage with known gas potential.

Last week, the Official Gazette of Spain published the final approval of the
transfer of the 25% interest in the La Lora Concession from Petroleum Oil and
Gas Espana to Ascent's affiliate NPEL (as announced on February 14th, 2006). As
part of the consideration, Ascent is issuing 562,967 New Ordinary Shares at 12
pence per share (value of 100,000). Accordingly, application has been made for
the admission of these new shares to trading on the AIM market where they will
rank pari passu with the existing ordinary shares of 0.1 pence each in the
Company. Dealings in the New Ordinary Shares are expected to commence on
December 6th, 2006.

Production on the Ayoluengo oilfield within the La Lora Concession (Ascent:
88.75%, Gold Oil plc: 11.25%) has been maintained at over 110 barrels of oil per day for the past eight months (November average: 116 bopd) following the summer implementation of a workover programme designed to improve well efficiency. Further production enhancements are being planned to increase production and further improve profitability by Q2 2007 including additional workovers, new oil production technology and enzyme treatments for enhanced oil recovery.

On the exploration front, permits for drilling have been granted for the
Hontomin-4 Well in the Huermeces Concession and the Tozo-1 Well in the
Basconcillos 'H' Concession. Drilling will commence when the drilling rig
arrives from Italy after drilling the Anagni-1 Well, which is scheduled to spud
this week. Seismic interpretation is on-going in the Valderredibles concession
to map oil bearing prospects in that area.

Through its newly incorporated operating company, Compania Petrolifera de Sedano (CPdS), Ascent has submitted an application for exploration acreage to the east where two wells have discovered deep high pressure gas. Ascent, as in the other exploration areas, has a 50% interest in this Rocamundo application.

Ascent's Managing Director Jeremy Eng said, 'We are making good progress in
Spain. The Company benefits from the steady cash-flow from the Ayoluengo
oilfield and the prospect of higher production rates from the field and
additional reserves from the new wells provides considerable upside. The
expansion of the exploration areas demonstrates the viability of an exclusively
European portfolio where there are still plenty of unlicensed opportunities to
be exploited.'

* * ENDS * *