Ascent Resources Announces MOU Extension for PSCS Negotiation

Source: www.gulfoilandgas.com 4/30/2021, Location: South America

Ascent Resources Plc (AST), the onshore Caribbean, Hispanic American and European focused energy and natural resources company, is pleased to announce that, further to the announcement of 12 April 2021, 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.


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