Ascent Resources Plc (LON:AST) CEO Colin Hutchinson talks to DirectorsTalk about a section of the pipeline which is key to progressing the alternative route to first gas. Colin explains what this means for Ascent in the immediate future now that it has access, elaborates on plans between now and first gas in January 2017, provides more detail around the JV aspect of the gas production and talks about his optimism for Ascent’s future.
Ascent Resources plc (Ascent) is an independent oil and gas exploration and production (E&P) company. The Company’s portfolio consists of European onshore projects. The Company operates through two segments: Slovenia and UK. The Slovenia segment is engaged in exploration and development work. The UK segment includes head office. Ascent operates the Petisovci tight gas project in Slovenia. The Company’s project is operated through a local entity in a joint venture. The Company has 75% interest and its joint venture partner Geoenergo d.o.o. has 25% interest in Petisovci project. The Petisovci Tight Gas Project, in a 98 square kilometer area in north eastern Slovenia, targets the development of tight gas reservoirs known to be in Miocene clastic sediments. The structure has two sets of reservoirs, the shallower Upper Miocene and the deeper Middle Miocene. The Company is focused on the development of the Middle Miocene Badenian reservoirs (Pg) sands.
