Ascent Resources Plc (LON:AST) CEO Colin Hutchinson talks to DirectorsTalk about final result highlights, the IPPC permit & putting plans into action, how the second route to gas will come first and the exciting milestones coming up.
Ascent Resources Plc is an independent oil and gas exploration and production company that was admitted on AIM, operated by the London Stock Exchange, in November 2004. Since then its portfolio has consisted of predominantly European onshore projects. Ascent currently operates the Petišovci tight gas project in Slovenia which it considers to be an outstanding prospect. Ascent is subject to the UK City Code on Takeovers and Mergers. The Board firmly believes that the gas field at Petišovci in Slovenia is the Company’s outstanding prospect and therefore intends to focus its resources on this project. The Company’s strategy is therefore to allocate the bulk of its available funding to bringing Petišovci into production. Ascent plans to continue its exploration and business development programme in the longer term and to take advantage of the significant possible reserves and contingent resources in the regions in which it operates.
