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

yep just emailed the boy...and ive told him this time if he doesnt come up with the goods he will never be a man...something along those lines anyhow :>)

So no that wasnt the news, well not what im waiting for anyhow. as you say we are overdue with, at the very least, permit news, and i can just feel other good news waiting to pounce....

Well, it would be a nice day today to release some good news !

Nice update :

http://www.investegate.co.uk/Article.aspx?id=200711141130037020H


The big news is of course "mobile oil to 1205m" and the potential of "significant oil column".

Don't forget, Anagni-1 was found to be on the flank of the structure, just imagine what A-2 and A-3 might find when they are drilled up dip and at the sweet spots :)

ha ha PP that was the bit i was trying to clarify 'mobile oil' :>) so 2 of 3!

Its good news AJ.

Looks at the Angani-1 prior news, they were testing a potential 450m gross section (containing within 140m of extensive dolomotised zones) down to 1355m.

If they are going to plug off the bottom at 1205m (and they have mobile oil to 1205m), this equates to the potential gross section of pay zone now being 300m and its likely those extensive dolomotised zones remain in the 300m.


300m of potential pay, and this is at the flank of the structure.......the mind boggles at what they will find when they drill up-dip :)

Nice to see some better volumes of buys of late.

Don't forget to get your entries in for Decembers UK Stock Challenge.

http://www.stockchallenge.co.uk/sc/index.htm


AST is one of my choices, naturally.

Ascent Resources Italian Farm-in

RNS Number:2957J
Ascent Resources PLC
06 December 2007

Ascent Resources plc / Epic: AST / Index: AIM / Sector: Oil and Gas
6th December 2007

Ascent Resources plc ("Ascent" or "the Company")
Italian Po Valley Gas Project Farm-Out Update

Ascent Resources plc, the AIM-traded oil and gas exploration and production
company, has entered into an agreement whereby Otto Energy Limited ("Otto") will
participate in the farm out of a 50% interest in the 828 sq km Cento and
Bastiglia exploration permits in the Po Valley of Italy. The first of two wells
is scheduled to be drilled in the second half of 2008 and targets the Gazzata
prospect, which has a third party estimated recoverable reserve of over 100 Bcf
of gas.

The new agreement supersedes the farm-in agreement with Deltana, previously
announced on 1 August 2007. The terms remain essentially unchanged with Deltana and Otto paying a contribution towards the project back costs and the purchase of existing seismic data. Deltana and Otto will also pay 100% of the cost of the first exploration well and 100% of the cost of a second exploration well if
the first well discovers commercial quantities of gas.

The future value of the farm-in package amounts to circa Euro13 million.

Ascent Managing Director Jeremy Eng said, "The latest phase of exploration in
the Po Valley uses state-of-the art techniques in seismic processing, which
still further improves the already impressive success rate in gas exploration in
the region. The Cento and Bastiglia permits, which are among the largest in the
area, have multiple exploration targets as well as established infrastructure
close to hand. This farm-out again confirms the strength of Ascent's strategy
and demonstrates the depth of the Company's portfolio of European projects."

The Po Valley, which extends across the northern part of Italy from Turin in the
west to Venice and Ravenna in the east, is the one of the most productive areas
for gas and oil onshore Europe. Since the 1950s, over 130 fields have been put
on production. Ascent's exploration permits are centrally located near the
cities of Modena to the south, Mantova to the north and Bologna to the south
east.

Otto Energy Limited is an Australian public company with projects in Turkey,
Argentina and the Philippines. The division of the 50% participating interest
between Otto and Deltana are subject to an agreement between those two companies and their participating interests are to be finalised by 31st March 2008.

I have entered AST into the 2008 TMF Stock Competition, luckily nobody chose AST before me :)

My write up is here :

http://boards.fool.co.uk/Message.asp?mid=10845217


The competition thread, with rules of entry, is here :

http://boards.fool.co.uk/Message.asp?mid=10838736&bid=&sort=whole#10845218

Ascent Resources PLC
21 December 2007

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


Ascent Resources plc ('Ascent' or 'the Company')
Resumes testing the Anagni-1 well in Italy

Ascent Resources plc, the AIM-traded oil and gas exploration and production
company, announces that the workover operations on the Anagni-1 well in the
Frosinone Exploration Permit in the Latina Valley, Italy, have been completed
and that testing is expected to recommence today.

The full potential of the well will not be known until large quantities of
drilling fluids (drilling 'mud') that were lost into the reservoir formation
while drilling are recovered. These losses, which are characteristic of high
permeability reservoirs in the region are due to the fractured nature of the
rock and will enhance the productivity of the formation. So far an estimated
75% of the volume of the lost fluids has been recovered. Core analysis results
are encouraging for the oil potential of the well and the downhole equipment
which uses the same pump as before has been reconfigured to more efficiently
reach a conclusive test result.

Ascent has an 80% interest in the Anagni-1 well and the Company will release
further information on the progress of the testing operations as and when
available.

Still holding, looks like we've turned and with news expected soon on Anagni test, 2008 could be a good year for holders of these shares.

Just a recap of the Otto Energy farm in. Another point to note is that the drilling rig will be coming from Ascent Drilling, so while not only are Otto paying for the first drill, but a good chunk of that payment recirculates back into profit for Ascent Resources, via their holding in the drilling company.

Nice little set up going on now by the Ascent board, and it will be very interesting to see what profits are contributed by Ascent Drilling come the prelims for full year 2008 (albeit that is some time away as yet).

It really is a major year ahead for Ascent imv, apart from everything else, there are a few major milestone events ahead.

1/ Bajsca drilling in Q1 - very decent sized potential, and quick cash flow.
2/ Nyirseg production on line in late H1, new 3D sesmic and a reserves report.
3/ Anagni update in Q1 + plus updip wells later in Q2 or Q3.
4/ Po Valley first drill results in Q4
5/ Switzerland first drill results in late Q4



http://www.oilvoice.com/n/Otto_Energy_farms_Into_Large_Onshore_Exploration_Acreage_in_the_Po_Valley_Italy/1c933b85.aspx

Otto Energy farms Into Large Onshore Exploration Acreage in the Po Valley, Italy

Friday, December 07, 2007


Otto Energy announces that it will acquire 50% of the Bastiglia- Cento Exploration Permits, in the Po Valley of onshore Italy, from Ascent Resources plc.

Highlights

• The two adjacent Bastiglia - Cento Exploration Permits are considered highly prospective with multiple hydrocarbon prospects and leads already identified

• The first well, Gazzata-1, will be drilled around September 2008, targeting prospective gas resources of over 100bscf equivalent to potentially over A$200 million in value to Otto.

• Minimum commitment for Otto to earn 50% in the two permits is approximately A$10 million and in the event of a significant commercial gas discovery in the first well, Otto will also fund 100% of drilling and testing of a second well.

• Otto intends to purchase the seismic out of current funds and fund the drilling out of anticipated revenues from the Galoc Oil Field, which is scheduled to commence production in April 2008.

• Otto’s joint venture partner and operator of the Italian permits is Ascent Resources Plc, an AIM-listed company with an established office in-country and considerable drilling expertise in the area.

Commenting on the announcement Alex Parks CEO of Otto Energy said:

“This new acquisition is a perfect fit for Otto as we continue to build our portfolio of onshore and offshore oil and gas assets with a pipeline of projects that span across exploration, development and production.

“The Bastiglia - Cento Exploration permits are considered to be highly prospective and relatively low risk. The Gazzata prospect alone could be worth up to A$200 million to Otto in the event of a commercial discovery, and there is significant follow up potential in a variety of different play types, some of which could hold up to 1 TCF gas resource potential.

L2 is all blue today and presently 7 v 1 @ 17/18.25 with just JEFF on the offer at 18.25p

Moving up nicely again, lets hope it continues :)

Chart recovering with Moving Averages starting to cross into positive territory, although RSI oversold.

Out of interest :

L2 is now 7 v 9 @ 18/19.5

On Line Limits are :

BUY 75K @ 19p

SELL 75K @ 18.65p

Anagni-1 update
Ascent Resources plc, the AIM-traded oil and gas exploration and production
company is continuing testing operations at the Anagni-1 well in the Frosinone
Exploration Permit in the Latina Valley, onshore Italy. Although not yet
conclusive, preliminary results from this phase of the well testing are not
encouraging with the absence of significant hydrocarbons in the produced fluids
being noted.

Full details:
AST - Anagni-1 update

Not brilliant then... But see PP's notes earlier

Well that blew the SP recovery out of the window!

Just logged in and saw AST at 11p levels and thought "must be an Anagni update".....

We will have to wait for the new seismic and then crest wells for some more Anagni excitement it seems, that was always the fear with the well being on the flank.....

C'est la vie, onwards to Bajsca news, then Nyirseg it seems, Po Valley will be the major driving Italian prospect now while they continue the diagnosis and forward action plan required with Anagni, the good thing is that the next drill can easily be slotted in, as of course they own their own drilling rig company now, in effect :)

Bad luck short termers, and those long term can keep the faith and look forward to news in a couple of months.

Bad luck long termers as well!