Ascent Resources PLC Operational Update (2126D)

TIDMAST

RNS Number : 2126D

Ascent Resources PLC

05 July 2016

5 July 2016

Ascent Resources plc

("Ascent" or "the Company")

Operational Update

Ascent Resources plc (AIM: AST), European oil and gas exploration and production company is pleased to provide an update on the status of the legal agreements required to progress its alternative route to market.

On 1 June 2016 we reported that there were two legal agreements required to progress the alternative route to market, one of which was in agreed form and the second was at an advanced stage.

The first agreement has now been agreed and is ready for signing

All of the significant commercial issues in the second contract have now been agreed by the project group and the process of obtaining approval from the respective boards has begun. The intention is to sign both agreements together and provide a further update to shareholders at that time.

Despite the delays in achieving formal sign off we are confident that the Company remains on track to produce gas by the end of the year.

Enquiries:

 
 Ascent Resources plc 
  Clive Carver, Chairman 
  Colin Hutchinson, CEO           0207 251 4905 
 Stockdale Securities Limited, 
  Nominated Adviser 
  Richard Johnson 
  Edward Thomas                   0207 601 6100 
 IFC Advisory Ltd, Financial 
  PR and IR 
  Graham Herring 
  Tim Metcalfe 
  Heather Armstrong               0203 053 8671 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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July 05, 2016 02:00 ET (06:00 GMT)