Ascent Resources has signed a series of key agreements with its Slovenian partners, which lay the foundation for the commercial development of its Petišovci gas field.

These include:

◾ A revised Joint Venture agreement which will significantly simplify the relationship between the partners and remove the issue of consents which had thwarted previous attempts to secure project finance. Ascent's partner in the Petišovci Joint Venture is Geoenergo which is owned in equal parts by Petrol dd and Nafta Lendava doo. ◾ An infrastructure agreement with Petrol Geoterm doo; which will facilitate the construction of the plant to process hydrocarbons for the Slovenian domestic market. ◾ A service agreement with a Petrol Geoterm doo; who will oversee the processing of hydrocarbons and their transmission to the national grid.

The signing of these documents is the culmination of months of close cooperation amongst the partner group and lays a solid foundation for an effective future working relationship.

Tags: Ascent Resources plc