AIM-listed Ascent Resources said on Tuesday that it is open to offers as it announced it has decided to conduct a strategic review of the various options available to maximise value for shareholders.
European oil and gas exploration and production company Ascent Resources has seen its Pg-10 well on the Petisovci concession in Slovenia perform "in line with expectations", however, its neighbouring Pg-11A site has not been quite as productive as hoped.
Europe-focussed oil and gas exploration and production company Ascent Resources updated shareholders on the start of export production from the Petišovci field in Slovenia on Wednesday, confirming that it commenced export production from well Pg-10 on 2 November, with production from well Pg-11A added on 3 November.
Europe-focussed oil and gas exploration and production company Ascent Resources confirmed on Friday that export production has commenced from the Petisovci field in Slovenia, to INA in Croatia.
Specialist recruitment solutions and outsourcing provider Servoca updated the market on its trading on Friday, confirming that it expects its preliminary results to 30 September to be "comfortably" in line with market expectations.
Ascent Resources, the Slovenia-focused oil and gas explorer, reported revenues for the first time since 2013 as it coninutes to develop its primary target in the former Yugoslavian country and cut debt significantly to less than £50,000 since the end of the period.
Ascent Resources said it had re-completed and connected its Pg-11A well to its processing facility in Croatia via a new flow line from the Petišovci field project in Slovenia.
Europe-focussed oil and gas exploration and production company Ascent Resources updated the market on progress with its Petišovci project in Slovenia on Friday, reporting that the installation of the necessary infrastructure to accommodate export production had now been completed.
Europe-focussed oil and gas exploration and production company Ascent Resources updated the market on its progress at the Petišovci project in Slovenia on Wednesday, with production from Pg-10 continuing "satisfactorily", with the product being sold to a local industrial customer through partner Geoenergo.
Europe-focussed oil and gas exploration and production company Ascent Resources updated the market on progress with its Petišovci project in Slovenia on Tuesday, reporting that the downhole portion of the operations to prepare well Pg-11A to produce and sell gas was expected to finish in the next seven days.
After the Slovenian courts held back the permit required to build a gas treatment facility in the Petisovci gas field, Ascent Resources said it was confident of overturning the decision later this year.
Commercial gas production has started from Ascent Resources' well in Slovenia.
European oil and gas exploration and production company Ascent Resources announced on Friday that received a notice of exercise to convert 1,831 convertible loan notes of £1 each, which were issued in May 2013 as part of an open offer to all shareholders, the terms of which were amended in February 2015 and October 2016.
Ascent Resources noted the jump in its share price on Wednesday and confirmed that a well test is set to commence at the Pg-10 well, which is part of the Petišovci project in Slovenia, on Thursday.
Ascent Resources, an AIM listed independent energy company, has successfully completed wireline operations at its Pg-10 well.
Ascent Resources issued an update to shareholders on Thursday, on the work programmes required to deliver first gas in Q1 2017.
Ascent Resources announced on Friday that it has been informed by the Environment Agency in Slovenia that the partners in the Petišovci project will not be required to carry out a full environmental impact assessment prior to the award of an IPPC Permit to install a new processing facility at Petišovci.
Ascent Resources' shares are up more than 15% after it raised £500,000, net to the company, in a placing of 83,33m new shares at 0.6p each to meet its working-capital requirements into 2017.
Shares in Slovenia-focused Ascent Resources dived about 30% after it raised £500,000 in a discounted placing of 83.33m shares, giving it sufficient working capital until the end of third-quarter 2016.
European oil and gas exploration and production company Ascent Resources revealed a disappointing development on the decision from the Administrative Court of Slovenia over its IPCC environmental permit application.