Ascent Resources Provides Cuba Update

Source: www.gulfoilandgas.com 11/2/2020, Location: South America

Ascent Resources Plc, the onshore Caribbean, Hispanic American and European natural resources company is pleased to announce that, further to the announcements of 14 and 30 April 2020, it has agreed a six month extension to the Memorandum of Understanding ('MOU') which it has signed with CUPET, the Cuban national oil company, that gives the Company the exclusive right to negotiate the Production Sharing Contracts ('PSCs') for the onshore producing Block 9B and onshore exploration Blocks 9A, 12 and 15. The MOU extension follows delays in country as a result of COVID-19 protection and isolation measures that were successfully implemented in Cuba over the last couple of months. Havana is expected to re-open and accept international travellers in November.


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