Ascent Gets OK for License Extension Offshore Netherlands

Ascent Resources received an extension to its M10/M11 licenses, located offshore Netherlands in the southern North Sea, until June 30, 2013.

The M10/M11 license holds three structures containing gas discovery wells with the gas being present in the Slochteren unit of the Rotligendes sandstones. The operator has prepared a conceptual development plan, and a final appraisal well is targeted for drilling in H2 2012 to confirm reservoir parameters for the detailed project design.

Ascent plans to evaluate the Terschelling Noord discovery, which lies in an area within the M10/M11 license area. If successful, the well will become a producing well for the development. The operator of the license is ARN with a 50% stake; Energie Beheer with 40%; and GTO with 6%. 

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