Ascent Resources PLC Pg-11A Commencement of Works (7783D)
May 02 2017 - 1:00AM
UK Regulatory
TIDMAST
RNS Number : 7783D
Ascent Resources PLC
02 May 2017
2 May 2017
Ascent Resources plc
("Ascent" or the "Company")
Pg-11A Commencement of works
The Board of Ascent Resources plc (AIM: AST), the European
focused oil & gas exploration and production company is pleased
to update shareholders that work has commenced to allow gas to be
sold from well Pg-11A in addition to Pg-10, at the Petišovci field
in Slovenia.
Well Pg-11A was initially drilled in 2011 to a total depth of
3,500 metres, the well was side-tracked from 1,778 metres for
operational reasons. Three sand intervals in Pg--11A, the L, M and
N sands, were stimulated in stages and the combination tested at
2.5 MMscfd. The intervals tested were 3,320-3,324m, 3,220-3,250m
and 3,147-3,195m. A short test also proved the productivity of the
shallow A1 sand.
The work programme involves the replacement of a section of the
tubing string and the preparation of the well for production. The
work is planned to last for around four weeks and the Board look
forward to updating shareholders in due course.
Colin Hutchinson, CEO, commented:
"Following the successful commencement of gas production from
our Pg-10 well earlier this month, we are pleased to announce
beginning work to bring Pg-11A into production, the next logical
step in the development of the Petišovci field."
Enquiries:
Ascent Resources plc
Clive Carver, Chairman
Colin Hutchinson, CEO 0207 251 4905
Stockdale Securities Limited, Nominated
Adviser and Joint Broker
Richard Johnson
Edward Thomas 0207 601 6100
Northland Capital Partners Limited,
Joint Broker
Tom Price 0203 861 6625
IFC Advisory Ltd, Financial PR and
IR
Tim Metcalfe
Heather Armstrong 0203 053 8671
This information is provided by RNS
The company news service from the London Stock Exchange
END
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