Ascent Underscores Stabilized Gas Production in Hungary

Ascent Resources plc has reported that production of gas from the PEN-104 well in the Penészlek area of the Nyírség permits in Hungary, which commenced on August 12, 2008, has reached a stabilized average rate of 88,200 cu.m per day (3.12 MMscfd; 520 boepd).

Ascent holds a 45.23% interest in the Penészlek Project through its equity interest in PetroHungaria kft. Other partners are DualEx (37.5%), Geomega (8%), Leni Gas & Oil (7.27%) and Swede Resources (2%).


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