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

Update Here

Looks like the buyers are piling back now ahead of the Italian well deepening.

L2 all blue and now 2 v 2 @13.75/14.75

Moving nicely, now 3 v 3 @ 15/15.75 on L2.

Going to be an exciting few weeks as the Anagni drill carries on. What must be remember is they are not drilling from the top, they are already in a structure, at an oil bearing stage, and deepening the drill, so that means new data is coming on stream all the time......and people will know things now, and next week, and the week after, and after testing etc....

Risen nicely, lets hope they are seeing oil shows at continuing depth from the mud.

PP is this anagni well oil or gas,good rise today must be something there..

Anagni is oil.

There is a rumour now that some positive news from Spain might be coming. Came from a TW post on the sharecrazy.com Ascent thread

On line limits :

BUY 20K @ 16.98p

SELL 250K @ 16.4p


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

L2 now 5 v 4 @15.75/17


Suggests they are short of stock.

Nice bit of strength at closing.

AXA S.A. (Framlington) on board! Nice to see.

There might be news on the way........anyway, the SP is rising nicely :)

RNS out........here is the "simple" version with additions from "tonester"


tonester30ccfc - 12 Jul'07 - 16:32 - 10802 of 10804

"Ascent Resources plc, the AIM-traded European focussed oil and gas exploration
and production company, notes the recent rise in its share price."

roughly translated:

"Yes, we acknowledge the share price has risen and we are obliged therefore to issue a statement. Of course there hasn't been a leak. It's stock market speculation. Spagetti House gossip? Don't be silly"


"Further to the announcement on 28 June 2007, the Company is drilling the Anagni-1 well in Italy and has just commenced logging the well."

or alternatively:

"We have completed drilling of the interesting bit and will commence logging. It has taken us 14 days to drill this"



"The Company will complete logging in the coming days and, following preliminary analysis, it plans to update the market early next week"

how about:

"plenty to look at. Tell you about it soon"

Tone

Just a post I put on AFN :

PapalPower - 12 Jul'07 - 23:48 - 10868 of 10868

Its very difficult, and also dangerous to compare any announcements and their effects with other companies. For this process to be correct, you have to compare cash levels, production/revenue levels, assets plays, asset values and then work out the EV value (to know "how much is in the price"). From this base point you then have to take into account sentiment, and only then can you "guess" at price reaction.

MTA made a find, however, what was their EV value at the point in time the find was announced ? If its too high already, then it will struggle to rise further.

Firstly, we know that JE and others have said Anagni could be "company making" in magnitude.

Secondly, AST have production, if small.

Thirdly, they will develop a gas field in Hungary, leading to more cash inflows.

Fourth, they have a large array of other assets in various other countries.

Having been in these for some time now, and with my time frame of Switzerland Tcf gas drills, I will not be selling any, and quite happy to wait for all the news to come out over the coming weeks and months. And don't forget, the exciting Italian Po Valley prospect should be coming along.

So all things considered, there is a very good chance of a large rise on good news here, and equally it will fall back if the news is not good.

But then, with JE taking the Ascent percentage of this present Anagni well to 80% recently, and planning additional wells, we could be on for some fair upside if this reservoir is holding a nice few tens of millions of oil in place.

We should remember this was in effect to begin with a "geologic" data well, that just so happened to hit oil.

It will not hit bottom hole of the reservoir, that should come by the further drills planned updip. Therefore, they will not be able to predict the full size of the reservoir yet, however, they will be able to start gaining some good idea of its potential size. The key question is will the pay zone flow, if it does (and this is not utilising bottom hole pressure to assist) then there is the potential for AST to re-rate in the months ahead, until the updip wells are drilled and the bottom hole point attained, at which point they can measure reservoir pressure, and attain a prospective final oil in place figure, and recoverable figure.

So, this story has many weeks potentially to run, and could very well "company make" Ascent.

However, there will be a few twists and turns along the way, so enjoy the ride and do not forget the risk, always remember the risk that bad news happens, this is oil and gas exploration :)

Nice 1 million X trade in there this morning. Big buyer around ?

L2 now 7 v 6 @ 21/22.5

Moving strongly, again.

Just doing somehomework.

We know that the initial drill hit potential oil pay zone at Anagni-1, and given the comments below from an old report, it appears that they missed the shallow oil as per RIPI.........but just at the bottom of the earlier shallow well they hit a "larger deep prospect".

Sounds yummy, "larger deep"......I like the large...... :)

Fingers crossed for positive news this coming week. As said before, I have no intention to sell on good or bad news, there is so much more coming from AST, being more work on the Latina Valley and Po Valley in Italy, work in Hungary, Switzerland, Spain and more............its just a very good long term play imo.

And by the way, the Po Valley first drill and also the other drill at the Latina Valley are still to come, hopefully both in 2007, but for sure the other Latina Valley drill will happen once Anagni is complete we are told :)



From the 2006 WHI report :

"Italy

Italy is becoming a key country for Ascent and it seems that more projects are under review. The most exciting acreage is two large exploration contracts in the central part of the prolific gas-producing Po Valley. The interest here derives from a new play, namely the drilling of stratigraphic traps.

Hitherto, the fields were found in structural traps, now all drilled, but advanced seismic techniques have been locating smaller fields in the new play.

Ascent has identified twelve leads from an initial review of its purchased seismic data, but is reprocessing the data to identify drilling locations. When this is done the company will need to apply for drilling permits, which takes at least ten months, so drilling will probably not kick off until next year.

Drilling will take place sooner in the Latina Valley, as the permitting process for the shallow Anagni well is complete. However, we would caution that this well is primarily aimed at obtaining parameters for a seismic programme rather than looking for oil and gas. (PP Edit - Ho Ho Ho and we struck an oil field)

The acreage surrounds a shallow producing field, Ripi. Ascent believes that the Ripi oil is characteristic of older, deeper oil as is the case elsewhere in Italy and will be targeting the larger deep prospects."

For those wanting more info on Italy :

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

The PO VALLEY is the Cento and Bastiglia area's on the map.

CENTO (Reno) is 3 Gas Prospects (2 to be drilled 07 or 08)

BATIGLIA is 3 Gas Prospects (2 to be drilled 07 or 08)

Both of these are presently 98% Ascent, but they are looking for farm out ahead of drilling this year, or early next. For more info on this area the farm out document is avaiable to read at the link here : http://www.envoi.co.uk/P136Ascent-PoValleySyn.pdf



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

The LATINA VALLEY comprises of

FROSINONE - Anagni (80% AST) - Oil prospect (now drilling/logging) (potential for two further drills to be planned in to define the potential (large :))reservoir)

FROSINONE - Veroli (70% AST - Oil prospect (to be drilled future)

STRANGOLAGALLI - (50% AST) - Oil prospect (to be drilled future)

FUME ARRONE - Arrone - (40% AST) - Gas prospect (to be drilled after Anangi)


.

Now here is a twist to the Anagni story. When Ascent first got into the Frosinone license, the plan was to drill two wells, being Anagni-1 and Veroli-1, both of these to test the shallows (Miocene and Cretaceous sands) with only Veroli to test deep as well. Anagni-1 was to drill to 800m only (yes just 800 metres). It was decided at a later date to drill to 1000m to see if the Carbonates held any potential for DEEP LARGE oil reservoirs, as found elsewhere in Italy.

If you look at the cross section below, the results on Anagni could mean that also the Veroli-1 well, when drilled, could be looking for some deep play in the Carbonates as well.

Veroli-1 was planned to be the deep well, and Anagni just a shallow.........potentially they both could hit a deep large structure (especially when wearing rose tinted specs)

Very interesting.




(P.S. I have added lots of info on the Ascent Assets to the AFN Ascent thread, so if anyone does frequent over there, you'll find plenty of additional detail there now. Owing to the way different BB software works, its the easiest place for me to add that type of info)

ASTs.p. has doubled in 1 month again,is it for real this time,any views.

140 METRES with 10% porosity :) 450 METRES to test

45 KM to an adjacent oil field, and everything from there to Anagni is in the AST area.......very bullish imo :)



http://www.investegate.co.uk/Article.aspx?id=200707160701172688A


RNS Number:2688A
Ascent Resources PLC
16 July 2007

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

16 July 2007

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

Anagni-1 Log Results



Ascent Resources plc, the AIM traded oil and gas exploration and production company, has completed logging operations in the Anagni-1 well located in the Frosinone Exploration Permit in the Latina Valley in Italy. The results of logging and core sampling are encouraging and now a production test over a 450 metre section of potential reservoir is planned.


The Anagni-1 well has been deepened from 971 metres to a current total depth of 1,355 metres. As previously, total loss of circulation was experienced throughout and the only rock samples recovered to surface were four cores, which all had traces of oil. These are detailed below.

The analysis of log data indicates that the complete section is drilled in a continuous limestone with extensive dolomitised zones totalling over 140 metres within the 450 metres gross thickness. Porosity in the dolomite frequently exceeds 10%. From the core data, the limestones area of Miocene and late Cretaceous age.

The core samples recovered to surface were from the intervals as detailed below.

Core Depth Recovery
1 1,073 to 1,089 m 33%
2 1,100 to 1,106 m 100%
3 1,200 to 1,206 m 95%
4 1,349 to 1,355 m 30%

Subject to the necessary approvals, it is planned to complete the well with a downhole pump and to test it over the coming weeks. The pump is necessary to recover substantial quantities of mud and water lost while drilling. Before the test commences it is planned to move the drilling rig to the nearby Fiume Arrone exploration permit where the Arrone-1 gas exploration well is to be drilled.

Ascent has an 80% interest in the Frosinone exploration permit and Pentex Italia Limited has a 20%interest.

Ascent's Managing Director Jeremy Eng said, "The results that we have from this well to date are promising and as we had anticipated, the geological provenance of this area is good. The nearest proven oil is 45km to the south east and everything between that and Anagni-1 is within the Frosinone Exploration Permit,which we believe has the possibility to contain a number of similar structures."

The information contained in this announcement has been reviewed and approved by Dr Eloi Dolivo, Ascent's Exploration Manager and Dr Clive Ninnes, Ascent's Engineering Manager. Dr Dolivo (member of the AAPG) and Dr Ninnes (member of SPE) both having 26 years experience in the evaluation of hydrocarbon resources.

* * ENDS * *

Half way through my travels, so able to pop in now.

The key things to remember ;

This well was not for an oil reservoir, it was a geologic data drill.

What we have found is a 450m section of oil bearing carbonates.

The actual thickness and depth of this at its "centre" point, may be even more.

They will try to production test from a pump from this section, however the key to unlocking the whole thing will be the next drill, as this will target the bottom of the potential structre, this will be at greater depths and with the higher pressure, and also the place where un-aided flows would be likely to happen.

The news today is wonderful, but we cannot get carried away just yet. Key events are, to "suck" oil from the structure with a pump. And then, to drill an appraisal well targeting the bottom of the structure, and from this appraisal well will be the definitive commercial "massive find and flow" if we get that.

In 6 months time, AST could well be through 100p - and also it may not be, I am very excited, and the developments of the coming months could be transformational.........imv.

Enjoy :)

Nice day :)