OilVoice - Ascent Resources Stabilises Gas Production in Hungary

Ascent Resources Stabilises Gas Production in Hungary

19 August 2008

Ascent Resources plc, the AIM-traded oil and gas exploration and production company reports that production of gas from the PEN-104 well in the Penészlek area of the Nyírség permits in Hungary, which commenced on 12th August, has reached a stabilised average rate of 88,200 cu.m per day (3.12 MMscfd; 520 boepd).

Ascent holds a 45.23% interest in the Penészlek Project through its equity interest in PetroHungaria kft. Other partners are DualEx (37.5%), Geomega (8%), Leni Gas & Oil (7.27%) and Swede Resources (2%).

Review all our latest Alternative Investment Market news and associated company profiles