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

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

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 * *

Good RNS.

Excellent company

5.8m in large buys today, would say the overhang might be clearing.

L2 now up and 4 v 1 @ 11.75/12.5


I would guess FGY-2 is looking good, and someone given the nod to clear the overhang ???????? Speculation only by me.

Spot on PP.

Good call.