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

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 :)

http://www.oilbarrel.com/email_index.html?page=/news/article.html?body=1&key=oilbarrel_en:1184638942&feed=oilbarrel_en


17.07.2007

Ascent Resources Rallies On News Of Early Results From Anagni-1 With More Italian Drilling To Come

Shares in AIM-quoted Ascent Resources have steamed ahead over the past two weeks in anticipation of the Anagni-1 well in Italy. The price has lifting from 12 pence at the beginning of the month to 23.25 pence on Monday when preliminary results from the exploration well were released.

The well spudded in December 2006 in the Frosinone Permit in the Latina Valley, some 80 km southeast of Rome. Ascent has an 80 per cent interest in the permit, with Pentex Italia holding the balance. The well was designed as a stratigraphic well to test the subsurface make-up of the rocks in an area with poor seismic coverage. Specifically the company was looking for the Carbonate platform of the Northern Apennine Thrust; this was found at a depth of 865 metres.

But as the well went deeper, Ascent observed oil shows and found reservoir quality rocks, encouraging the AIM company to invest more dollars and turn this test well into a true exploration well. In January the company suspended the well so it could bring in equipment enabling it to deepen the well to around 2,000 metres double the pre-drill target depth - and test the oil reservoir.

The discovery of oil was not a complete surprise - oil is known in the area, including the Ripi oilfield some 40 km away but the potential size of the reservoir could be: Ascent plans a production test over a 450 metre gross reservoir section. This is a thick reservoir and the company said the log data indicates continuous limestone with extensive dolomitised zones totalling over 140 metres within the 450 metres while porosity in the dolomite frequently exceeds 10 per cent (eight per cent is about the minimum for a decent oil well).

Anagni-1 has not been an easy well. While drilling at a depth of almost 1,000 metres, total circulation was lost and the wellbore is likely to require clean-up during the testing phase. The plan is to now complete the well with a downhole pump to remove the substantial quantities of drilling muds and water lost while drilling. The well will then be tested over the coming weeks.

A well seismic programme is planned to confirm the structural configuration of the reservoir and establish the optimum location for an up-dip appraisal well. Managing director Jeremy Eng said the company is already planning two appraisal wells to evaluate the size and extent of the Anagni structure. This expenditure commitment is a signal of the partners confidence in the discovery.

Whats more, the well could de-risk a number of look-alikes. The nearest proven oil is 45 km to the southeast 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, said Eng.

There is more excitement to come in Italy. Ascent is now gearing up to drill the Arrone-1 gas exploration well on the nearby Fiume Arrone exploration permit. This is acreage Ascent picked up in December 2005 through a farm-in deal with JKX Oil & Gas. Ascent agreed to pay 50 per cent of a first exploration well and a one per cent royalty on any subsequent production in return for a 40 per cent interest in the permit.

The 358 sq km Fiume Arrone Permit lies along the coast to the west of
Rome and is home to two 1955 wells, Roma-1 and Roma-2 wells, of which one had gas shows. Arrone-1 will be drilled to a depth of 950 metres and will target a gas prospect identified from seismic. First, however, investors will be keen to hear news of the Anagni-1 production test: a commercial flow rate would really put some steam behind the share price and counter the downward drift that was triggered by exploration disappointments in Hungary and Spain. For the rest of this summer, the Ascent story is all about Italy.

PP seems we are powering ahead.

We are indeed :)

Bit of a shake to start, now firming up again.

L2 blue, and now 3 v 1 @27.5/28

Over the 30's.......40's next then :)

A little bit of an old report, do you see the reference to Monte Alpi, Tempa Rossa etc... ? ;) :


Pentex preparing to spud wildcat in western Italy

According to partner Ascent Resources, Pentex will spud a new field wildcat in early December 2006 in the Frosinone exploration permit, which is in west-central Italy. Anagni 1 is targeting the thrusted carbonate units of the southern Apennine, which resemble reservoirs like those found in the Monte Alpi, Tempa Rossa and Cerro Falcone fields. The 858 sq km permit is located in Frosinone, Latina and Roma political provinces near the Latina Valley of the Lazio region. In a geological sense, the tract is located within the Apennine Platform Nappe, tectonic unit of the Southern Apennines. Ascent says the rig will then be moved to northern Spain to drill a wildcat in the Cantabrian Basin.

Comment, click HERE

The big buyer is RAB then :

RNS Number:5521A
Ascent Resources PLC
19 July 2007

Ascent Resources plc

Holdings in Company (the "Company")

The Company was today notified by RAB Energy Fund Ltd ("RAB Energy"), that on 16 and 17 July 2007, RAB Energy acquired 12,484,286 ordinary shares in the Company.
RAB Energy holds a total of 52,992,619 ordinary shares of 0.1p each in the
Company registered in the name of Credit Suisse Client Nominees (UK) Limited,
which represents 18.12% of the Company's issued ordinary share capital.


ENDS

Latest update summary thanks to ND at AFN:


Summary:

Producing 100-120bpd with reserves of 0.5MMbbl in Spain, and planning the development of a 3-well field in Hungary.

There is currently a drill targeting a shallow gas prospect as well as testing ongoing at an oil reservoir in Italy; in addition to this there are likely to be 3-4 more drills on other prospects during 2007.


Producing:

Spain, Ayoluengo (88.75%). The field is currently producing at around 110bpd from reserves which were acquired at $6/bbl (with estimated reserves of 0.5MMbbl). Profits are sufficient to cover administrative overheads. Production from current wells is in decline but bringing new wells on-stream has maintained production, which may improve through the year with the introduction of new production technology and enzyme treatments.


Currently drilling:

Italy, Latium Cost, Fiume Arroe (40%), gas target, drilled and found in 1955, 950m TD- the rig is en-route to this well.

Italy, Latina Valley, Frosinone Permit, Anagni-1 well (80% WI but 100% of costs), currently undergoing a cleaning and testing program over a 450m interval (details below).


Other planned/permitted drills:

Delayed- Spain, Sedano Basin, Basconcillos H, Tozo-1 well (50%), oil target drilled by Chevron in 1965, which flowed several hundred barrels over a five-month period and also contains an un-tested gas find. Permitting and site preparations have been completed and the workover rig may be used to undertake the re-entry.


Development plans:

After the completion of the current drilling program the company plans an independent reserves valuation in P1/P2/P3 format.

Hungary- Nyirseg (54.45%)- This field has three commercial wells which are being included in the current development study, with the aim of initial production in Q108. Pen-104 (which flowed at a restricted 3.4MMscfd) was discovered by AST, and its success has opened up the possibility of developing two former discoveries, Pen-12 (which has an estimated 2bcf recoverable), and Pen-9 (which has an estimated 26bcf recoverable).

Hungary- Bajsca (45%)- Tight gas redevelopment project in partnership with MOL; technical studies have confirmed the economic viability of the project using horizontal recompletion techniques. The first two of these recompletions may be drilled in Q4 (PetroHungaria (90% owned by AST) to drill the wells with MOL providing the infrastructure).


Exploration to date:

In the Nyirseg permit (Hungary, 54.45%) we have had one commercial discovery from a four well drilling program. This was Pen-104: 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 other three wells had varying results. Vam-1 hit good quality gas but not enough to suggest a commercial reservoir, so was P&A. FGY-2 hit water in a reservoir quality interval; this was encouraging enough to have the company plan to drill nearby at FGY-1 in the next round of drilling. Pen-102 intercepted a fault system en-route to the target Miocene tuffs (which contained only residual gas). The fault system was subjected to a well seismic survey with the intention of planning a sidetrack with the objective of entering the Miocene gas reservoir in a more favourable location at a later date.

In the Sedano Basin permit (Spain, 50%) we drilled a single well, Hontomin-4, which did not find oil, suggesting a lack of a successful seal in the area.

Italy, Latina Valley, Frosinone Permit, Anagni-1 well (80%), confirmed the presence of a carbonate platform from 865m to total depth (1355m), with oil shows from 905m down. Total loss of circulation was experienced throughout the drilling of the reservoir and due to its fractured nature core recovery was poor, although all cores recovered had traces of oil. A downhole pump will be installed to recover the mud and water lost while drilling before testing the well.


Other plans:

Spain- Rocamundo- an application has been made for this exploration license (to the north west of ayoluengo) with Tethys and Shesa.

Italy- Po Valley (98%)- Well location permitting is underway for four wells in the Cento and Batiglia gas exploration permits (two of which were identified by AVO) . AST are seeking a farm-out deal with the intention of drilling two wells in 2007/8. The farm in partner is being asked to fund the whole costs of the first two wells (on the 130bcf Gazzata and 116bcf Rubiera prospects, at a total cost of something in the region of 5-6m). 50% of the rest of the licence can then be acquired by funding the purchase of the remaining seismic (at c. 1.5m). Back costs will also be partly reimbursed to AST.

Switzerland (90%)- (in Vaud) an oil exploration permit containing a 1962 oil discovery at Essertines and (in Bern) two gas exploration permits containing a gas discovery each (Linden, 1972; Hermrigen, 1982); all three also contain unexplored Triassic potential. The results of the prospectivity report, created by reprocessing seismic data, acquiring new seismic surveys and geochemical analysis, were integrated into a new geological model. The next stage of finding suitable drilling locations has commenced and wells will be drilled (subject to locations, permitting and rig availability) in Q4 2007 or early 2008.

Holland (45.75%)- Four offshore licences covering a total of 795 square kilometres. One of these (M11) contains a discovery from 1982 which flowed at 2MMscfd; with technological improvements this may be increased towards commerciality. A 3D seismic survey requires reinterpreting, and geological and geophysical work is underway. Drilling is planned for late 2008/ early 2009- depending on rig availability.

Slovenia, Petisovci Globoki (15.75% and operator)- This field is considered as an extension of the Bajsca tight gas field in Hungary. One well previously drilled, D-14, intersected minor gas and water (only produced after three fracture stimulation attempts), but when deepened deeper reservoirs with estimated P50 gas in place of 579Bcf had strong gas shows which did not produce from an open-hole test (fracture stimulation was not attempted). Preliminary engineering studies are ongoing.

Slovenia, Petisovci Dolina (45% and operator)- total 2P reserves of 10.7mmbl.


Other interests:

In Gabon, after 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). Both have extensive 2D and 3D seismic. Themis Marin is the more advanced licence which is scheduled to be drilled in Q3, while the seismic for Iris Marin is being processed with results due later this year.

Nice strength today, we may have news this week on the spudding of the other Italian gas target well.

From http://www.investtech.com


Ascent Resources Plc (AST) - 23 Jul. Price: 31.00

An approximate horizontal trend is broken up. A continued strong development is indicated, and the stock now meets support on possible reactions down towards the trend lines. It also gave positive signal from a rectangle formation at the break up through the resistance at 19.79. Further rise to 34.26 or more is signaled. The moving average indicator has also given a positive signal. In isolation, this signals a continued rise, but the slowness of the indicator often means that one has lost much of the upside. The stock has support at p 14.80. Volume tops and volume bottoms correspond well with tops and bottoms in the price. Volume balance is also positive, which strengthens the trend break. RSI is overbought. The stock can still rise further, and we should see a decreasing RSI before this is used as a negative signal. The stock is overall assessed as technically positive for the medium long term.

The medium long term: Positive candidate





.

Buyers flooding back in today.

L2 now all blue.

6 v 1 @29/30

http://www.investegate.co.uk/Article.aspx?id=200708010700522495B


Impressive terms !! Would be nice to now how much is being paid to Ascent now for the "historical costs".



"to farm-out a 50% interest in the 1,113 sq km Cento and Bastiglia
exploration permits in the Po Valley of Italy"

"Under the terms of the agreement, Deltana will pay the cost of the first
exploration well and, on success, will pay the cost of a second exploration
well. The first well targets a Pliocene prospect in the western part of the
permits at a depth of about 2,400m and the second, one of the other prospects in the permits. Deltana will also contribute to the historical costs on the permit and pay the first 1.5 million of future seismic expenditure.
"

From my calculations, with the warrant conversion announced putting 640K into the AST back account, and also the earlier farm out agreement giving back costs of say 1m Euro (eg 50% of the 2m Euro back costs)

Therefore, the AST bank balance (not that its weak anyway) has been increased this week by some 1,313,000.

(PS. I am note sure if the total back costs payable were 2m Euro, or whether this is the figure to take some 50% from, therefore, there might be upside to that and it could be they have got near 2m this week).

media comment, click HERE