Ascent Resources Announces Final Results

Source: Reuters 6/30/2022, Location: Europe

Ascent Resources Plc, the onshore Caribbean, Hispanic American and European focused energy and natural resources company, announces its final results for the year ended 31 December 2021.

Highlights:

Corporate
· Signature of "no win-no fee" style funding for the international arbitration proceedings against the Republic of Slovenia
· Production of 1.53 million scm of gas and 52,196 litres of condensate from PG-10 and PG-11A wells
· Expansion of Latin & Hispanic Americas strategy to include onshore gas production and development strategy alongside new Environment, Social and Governance ('ESG') Metals
· Continued engagement with joint venture partners with a view to resolve legacy commercial disputes
· Raised £1 million in new equity by way of oversubscribed subscription and placing

Post Balance Sheet Events
· Completion of "no win-no fee" Slovenia damages claim funding
· Peru identified as country of initial focus for the Company to pursue new industrial ESG Metal projects

Publication of the Annual Report
· The Company confirms that the Company's annual report for the year ended 31 December 2021 (the "Annual Report") will be posted to shareholders today and a copy of the Annual Report will shortly be available on the Company's website, www.ascentresources.co.uk/investors/reports-accounts.


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