Ascent Sells Netherlands Licenses

UK-based junior explorer Ascent Resources reported Wednesday that it has sold its interests in exploration licenses Terschelling-Noord and M10a & M11, offshore the Netherlands, to Tulip Oil Netherlands for $600,000 (EUR 450,000).

Ascent said the licenses did not form part of the core asset base on which the company intends to focus, but that the agreement grants Ascent the right to repurchase from Tulip a 10-percent interest in each license if Tulip makes a final investment decision with respect to the Terschelling-Noord field.

 Ascent CEO Len Reece commented in a company statement:

"This transaction is in accordance with our corporate strategy of disposing of non-core assets. It provides additional cash for the company in the short term and allows Ascent to focus our efforts and resources on our core Petišovci project in Slovenia."

 



Have a news tip? Share it with Rigzone!
Email news@rigzone.com

WHAT DO YOU THINK?

Click on the button below to add a comment.
Post a Comment
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

Related Companies
Events  SUBSCRIBE TO OUR NEWSLETTER

Our Privacy Pledge
SUBSCRIBE

More from this Author
Rigzone Staff
e-mail us at news@rigzone.com
 -  CGG Wins DPC Contract in Brunei (Feb 21)
 -  NPD: Total Proven, Unproven Resources ... (Feb 21)
 -  Eland: Opuama-3 Well Hits 150,000 Barr... (Feb 21)
 -  Fugro Secures Seep Survey Contract Off... (Feb 21)
 -  Global LNG Demand Set to Rise to 2030 (Feb 20)


Most Popular Articles

From the Career Center
Jobs that may interest you
United States Houston: Reservoir Engineering Consulting Advisor
Expertise: Geoscientist|Reservoir Engineering
Location: Houston, TX
 
United States Odessa: Technical Services Representative
Expertise: Asset Integrity Engineer|Business Development|Sales
Location: Odessa, TX
 
United States Odessa: Engineer - Completions
Expertise: Production Engineering|Workover or Completion
Location: Odessa, TX
 
search for more jobs

Brent Crude Oil : $56.66/BBL 1.52%
Light Crude Oil : $54.06/BBL 1.23%
Natural Gas : $2.56/MMBtu 9.54%
Updated in last 24 hours