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

Article on OilVoice

http://tinyurl.com/lepda

Rig Contracted to Drill Arrone 1 Well on Fiume Arrone Permit, Italy

Thursday, August 24, 2006

Oracle Energy Corp. has been notified by Ascent Resources Plc that Ascents Italian subsidiary has contracted a rig to drill the Arrone 1 well on the Fiume Arrone Permit near Romes Fiumicino airport. Subject to Italian regulatory approval, the rig is expected on location to commence drilling on or about the end of October, 2006.

The 358 sq km onshore Fiume Arrone Permit, is along the coast of Italy to the west of Rome. It contains the Roma 1 and Roma 2 wells drilled in 1955 the latter of which was reported to have had shows of gas. The first well, planned to be 950m deep, will target a gas prospect identified from seismic.

Oracle Energy holds a 20% interest in the Fiume Arrone Exploration Permit. The other partners with an interest in the Permit are Ascent Resources plc (40%), Italmin Exploration (30%) and JKX Oil and Gas plc. (10%).

http://www.uk-analyst.com/

E-mail from them today (you can sign up for their emails at the link above if you so wish) :


Buy Ascent Resources at 12p

Says Stewart Dalby of Oilbarrel.com

Ascent Resources is a junior and oil and gas explorer in a hurry. It retains a small but potential lucrative interest in Gabon in Africa, but since listing in 2004 it has assembled an extensive portfolio of over 20 oil and gas projects across six countries in Europe.

Ascents Managing Director Jeremy Eng favours Europe, because there are known oil and gas provinces which are now worth revisiting because of good, firm oil and gas prices (even in eastern Europe), the cost of assembling assets and of re-entry is relatively modest. The exploration costs are low, there is extensive infrastructure servicing growing markets.

The company has not just assembled the acreage but has been aggressively pro-active in exploiting them with a six (possibly eight well programme) in 2006and at least a further three wells, possibly five slated for 2007. The drilling starts, well, just about right away. If constant news flow on the drilling front is what investors following the junior market want then, Ascent will not disappoint. The shares have more or less idled around 9p to 12p in recent weeks but now the drilling is about to start they should begin to move and are a definite buy.

The group has just announced that its 90 per cent Joint Venture, PetroHungaria has entered into a farm out agreement with DualEx Nirseg a wholly owned subsidiary of DualEx Energy International of Canada. The companies will jointly explore and develop the hydrocarbon resources of the Nyirseg Del and Nyirseg Szatmar exploration permits in the Pannonian Basin in North Eastern Hungary. These contain the established Peneszlek field.

Under the terms of the agreement, DualEx will reimburse some of the historical exploration costs and fund 75 per cent of the costs of drilling two wells to earn a 37.5 per cent working interest in 45 per cent of the area of the Exploration permits. DualEx 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.

Ascent has also received a Letter of Intent from PetroPequnia AB which wants to enter into an agreement for the first part of this deal under the same terms to far-in for a 5 per cent working interest by funding a further 10 per cent of the costs in the permits.

What this all means is that is that Ascent should be left with a 50 per cent working interest in the wells whilst finding itself paying 15 per cent of the cost of the wells which are expected to come in at around 1.4 million pounds

The first well, Peneszlek-104 will be a re-appraisal well for Peneszlek gasfield and has a secondary Pannonian gas target. It is scheduled to start drilling in September. Fehergymat (FGY-1), will target a gas prospect in Pannonian sandstone formations and will be drilled to a depth of 1,350 metres. The second well FGY-1 with a planned total depth of 1,100 metres, will be drilled immediately after the PEN-104 well.

Between 1983 and 1989, the Peneszlek field produced a total of 4.8 bcf of gas from 1983 to 1989. The reservoir is in the Miocene tuff sediments and, following re-mapping using the seismic data acquired in 2005 by PetroHungaria, it is expected that the remaining reserves of this field are substantially more than previously estimated and re-development studies are on going.

Broker Hichens and Co has estimated that there could be a one in three chance of success on the field, with proven reserves of up to 160 bcf in total. A 160bcf would be company making. But something less than this would also be welcome. Here is the point: Jeremy Eng reckons the company could achieve a price of US$9 per thousand cubic feet. This is almost US style pricing and is a lot more than we have become used to from other east Europe and former Soviet Union countries. But if it is the case that this level is achievable then a field with just 2 bcf of gas recoverable would be economic.

During the 1980s, two further satellites of the Peneszlek field were discovered and tested but were not put on production. The first optional well is planned as an appraisal of one of these satellite discoveries; the second optional well targets a seismically defined (ASVO) prospect in the Pannonian sandstones in the south of the permits.

As if this were not enough to keep Ascent busy, it has four other wells planned for Italy and Spain this year. In Italy, there are two sets of assets. In the Po Valley in Northern Italy, which has the second largest onshore gas reserves in Europe, Ascent has 100 per cent of the Cento and Bastiglia permits. It has reprocessed seismic data and identified twelve leads. The company is applying for permits to drill four high impact wells in 2007.

Ascents other Italian job, so to speak, is around Rome. Despite delays caused both by permitting and the shortage of equipment and services, the company has contracted a rig to drill the Anagni-1 and the Arrone-1 wells in the Frosinone permit of the Latina Valley and the Fiume Arrone Permit near Romes Fiumicino airport.

Following the drilling of these two wells it is planned to move the same rig to Spain. Ascent holds a 88 per cent interest and operatorship of the Ayoleungo oilfield, the only onshore Spanish producing oilfield where output is 100 barrels of oil per day. The plan is to use the rig from Italy to drill the Hontomin 4 appraisal well. The Tozo-1 re-entry well will use another rig, which is currently working, on wells in the Ayoluengo oiflield. Both these Spanish wells are on fields close to Ayoluengo.

Elsewhere, Ascent will participate in up to four non-operated exploration wells in the Aurelian led project in Romania from which gas production and sales from the Bilca development (5 per cent Ascent) are to start shortly. In Switzerland Ascent has a 90 per cent interest in three exploration permits, and there could be a well in 2007. In the Netherlands, Ascent has applied for permits in four offshore blocks and two part blocks. Four of these six applications have no competing applications.

Given the expected newsflow in the short term, at 12p, these shares are one to buy.

Key Data

EPIC: AST
Mkt: AIM
Spread: 11.25 - 12.5p

Stewart Dalby edits the free and definitive resource for those interested in oil exploration stocks http://www.OilBarrel.com

.

Moving up well.

L2 now 4 v 4 @12.5/14

Here is the DualEx Press Release for last weeks news, a bit more info that the AST one :



" BC-DualEx-farm-in-update 08-23 0866
News release via Canada NewsWire, Calgary 403-269-7605 -MC-

Attention Business Editors:
^DualEx Announces Pannonian Basin Farm-in and Updates Other Projects@

CALGARY, Aug. 23 /CNW/ - DualEx Energy International Inc. (TSX-V: "DXE")
is pleased to announce it has reached an agreement with PetroHungaria kft of
Budapest, Hungary (a 90% owned subsidiary of Ascent Resources plc of London,
England) that will see DualEx fund 75% of the costs to drill and complete two
test wells to earn a 37.5% working interest in approximately 275,000 acres
within the Nyirseg North and Nyirseg South Exploration Permits in northeast
Hungary. DualEx will also earn an option to drill two additional wells under
the same terms to earn in the remaining 340,000 acres of the two Permits.
DualEx, as joint-operator of the earning phase of the project, will also earn
a 37.5% working interest in the Peneszlek natural gas field, which was
discovered in 1982 and produced until 1989. Redevelopment studies have
commenced in the aim of reestablishing production at Peneszlek, which the
parties believe may contain significant remaining reserves.
The Nyirseg North and South Exploration Permits, comprising 1,556 km(2)
(384,496 acres) and 927 km(2) (229,067 acres) respectively, are located in the
Pannonian Basin of northeastern Hungary, in a proven hydrocarbon province with
existing natural gas infrastructure. The initial test wells under the Farmout,
FGY-1 and Pen-104, will be drilled to depths of 1100 metres and 1350 metres
and will target natural gas in Pannonian clastics at FGY-1 and natural gas in
both Pannonian clastics and underlying Miocene tuffs at Pen-104 (within the
limits of the once-productive Peneszlek field). Once both test wells have been
drilled, DualEx will elect on whether or not to proceed with the drilling of
the two option wells.
In all, fourteen separate prospects have been mapped on the Nyirseg North
and South Permits utilizing available well log data and conventional 2D
seismic data, 270 kilometres of which was recorded in late 2005. Drilling of
the first well, Pen-104, is expected to commence prior to September 30, 2006
and will be followed immediately with the drilling of FGY-1.

Solid enough day, with the first drills starting in September we could see some pre-emptive buying as the month goes on.

The 2 Hungary drills are shallow targets, and so it will not take long to drill to TD, so first news on actual results will start in October all being well.

Nice start to the day as well.

L2 now 2 v 2 @12.5/13.5

Jumped well, now L2 is 2 v 1 @13.5/14.5

Aurelian, the partner in Romania has this information on their web site:

Bilca Development

Three of the seismic amplitude anomaly areas were drilled, creating the Bilca-1, Bilca-2 and Fratauti-1 wells during 2004 and 2005. All three wells found commercial gas within the Sarmatian sands at shallow depths. The Bilca-1 well flowed gas at rates of up to 6.3 MMscf/d and the Fratauti-1 well at a rate of 3.2 MMscf/d. The Bilca-2 well will be tested on production. The Bilca-1, Bilca-2 and Fratauti-1 wells have been connected to newly constructed production facilities and connected through a 15 km export pipeline to a pressure reduction station at Radauti. These are scheduled to be commissioned and handed over for operations by the end of August 2006.

More info : http://www.aurelianoil.com/index.php?v=romania

Settled nicely, buy are gradually getting nearer the full offer price.

Still remains one of the best, if not the best, junior oil plays in terms of lower risk and big upside potential :) IMO.

L2 two ticks up this morning.

Now 2 v 1 @13/13.5


Is anyone going to the ProactiveInvestors Forum with Ascent on this Friday ?


http://www.proactiveinvestors.co.uk/main.asp

100K buy at 13.25 (late reported) caused the move up.

L2 now 2 v 2 @13/14

I hear Mark Slater had lots of good words to say about Ascent Resources on the webcast on http://www.t1ps.com

Things like risk/reward "but the right way around" and "dramatic upside".

Any other comments anyone knows of ? :)

My earlier post should have said anyone going to the proactiveinvestors Forum with Ascent tonight (Wednesday) not Friday :)

?

Good work here and over the road PP.

I bought a while back on the strength of it and I am not unhappy.

Thanks

PP, I will be able to check out Mark Slater interview at Weekend and will report back.

Thanks both.

I have not seen any comments from yesterdays Forum with Thor/Ascent, will be interesting too to know from anyone there.

.

A transcript of the May 2nd WSR interview is now available to read at the link below :

http://www.wallstreetreporter.com/profile.php?id=17788#Transcript


A good read, and the last paragraph sums up whats been said, 2006 is exciting, but 2007 is even bigger.

Here is the presentation link below, and also a summary of someone who went to the presentation live at the One2One Forum.

http://www.ascentresources.co.uk/investor_information/Q3_2006_update.pdf

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

Bartyboy - 7 Sep'06 - 12:24 - 2035 of 2055

Morning Guys

I was at the Proactive presentation yesterday afternoon in London, and had a chance to talk to Jeremy Eng immediately before his talk.

I'm not currently a holder, and do not therefore profess to be an expert on the company, but here are a few points which may be of interest. Apologies in advance if I'm relaying whats already known, or blindingly obvious!

1. There were about 30 present for the presentation. A mixture of Analysts, Journos, Private investors, and fund representatives.

2. Jeremy's presentation was well polished. I was impressed by him and also the depth of experiance in the management team.

3. The Spanish producing field is currently pumping 100 barrels per day. This revenue cover all operating costs, and gives the Company weight in licence negotiations, as they can claim to be a producer.

4. They were the first oil explorer to seek an Exploration Licence in Switzerland for the past 25 years. Since their application there have been two other companies seeking Licences in the same Canton alone. The Swiss had to get their official out of retirement, as no one knew how to process the application!

5. In Romania the Bilca gas production plant is due to go live within the next few days. The Company had to make a small payment [Which they have now done] to the Local Authority to sign off the construction work.

6. Hungary. Upside potential in the four identified prospects could go beyond 400BCF

7. Italy, currently working in Po Valley [Drilling 2007], Latium Coast [Drilling Oct 2006] and Latina valley [Anagni scheduled this month, Offset seismic this year, with deep well 2007]

8. Jeremy stated that to assemble their current portfolio as of todays date would cost 20 times what they paid over the last 18th months. Such is the current interest. An analyst [Sorry didn't catch the name] has given a very conservative vale of 63p per share for the current reserves.

Hope that brief overview was of some help.