Ascent Resources plc, the AIM traded oil and gas exploration and production company through its joint venture partner SEAG, has been awarded a third exploration permit in Switzerland; in the Canton of Vaud. The exploration permit, covering an area of 735.8 km2, includes the Essertines well, drilled by BEB drilled in 1962. Oil in a Jurassic Rhaetian reservoir was discovered in this well, producing on test light (41.5º API) oil with associated gas.
Ascent’s 90% owned joint venture with SEAG (Schweizerisches Erdöl AG), also has two exploration permits in the Canton of Bern, each of which contain gas discovery wells drilled by Elf Aquitaine in 1972 and 1982.
An on-going work programme for the Company’s three permits is underway at Ascent’s Technical Services Division in Budapest, including the collation of all the geological and geophysical data for the region and the reprocessing of the seismic.
