Ascent Resources Names New Executive Finance Director

Ascent Resources plc has appointed Simon Cunningham to the Board as Executive Finance Director.  Cunningham, a certified accountant, has extensive energy and resources experience having held senior corporate finance roles with diversified engineering services group Ausenco Limited, international renewable energy provider Energy Developments Limited and independent power producer NRG Energy Inc. Most recently he served as the Chief Financial Officer of Reverse Corp Limited, a telecommunications provider with operations in the United Kingdom and Australia where he was responsible for all aspects of the finance, treasury, investor relations, investment analysis and company secretarial functions.

Simon replaces Alan Sinclair who is stepping down from the board to pursue other opportunities.

John Kenny, Chairman of the Board of Ascent Resources said, "I would like to welcome Simon to the Ascent Board of Directors. He is a highly experienced individual who will undoubtedly be a tremendous asset to the Board. His broad financial background and his experience in listed companies will be invaluable for the Company to achieve its short and long term objectives particularly now that the Ascent has revenues from its gas production in Hungary. The Board and I would like to thank Alan Sinclair for his contributions to the Company and wish him well for the future."

The Board has granted Simon Cunningham 1,000,000 options to subscribe for new ordinary shares in the Company at 4.75p per share, exercisable from September 21, 2009 until September 21, 2013.
 

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