Ascent Announces Interim Results for the Period Ended 30 June 2020

Source: www.gulfoilandgas.com 9/24/2020, Location: South America

Ascent Resources plc, the AIM quoted onshore Caribbean, Hispanic American and European energy and natural resources focussed company is pleased to report its interim results for the six months ended 30 June 2020.

Summary:
- New Board appointed
- Restructuring of existing RiverFort debt and cancellation of equity swap agreement
- New market entry into Cuba with MOUs over producing Block 9B and Blocks 9A, 12 & 15
- Strategic review of Slovenian investment and proposal submitted to restructure Joint Venture arrangements
- Instigation of new Special Situations growth strategy

Post Period Highlights:
- Legal claim against Republic of Slovenia progressed with serving of Notice of Dispute under Bilateral Investment Treaty and Energy Charter Treaty


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· Revenue of $247 million
· EBITDA before exceptional items of $20.9 million
· Available liqu...





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