Ascent Resources, through its wholly owned subsidiary Nemmoco Slovenia Corporation ('NSC'), has completed the 3D seismic processing and the preliminary interpretation for the Petišovci project in Slovenia with positive results.
Planning is now proceeding for a number of wells to be drilled both in 2010 and in 2011 and discussions are on-going with project partners to prioritise the drilling of the prospects that have been identified.
3D seismic was acquired over some 120 km2 primarily in the territory of Slovenia, but also circa 25 km2 across the border in Hungary. More than a dozen new drilling targets have been mapped from the 3D data. These new prospects are in addition to the reserves identified in the independent persons report on the deep prospects completed in 2004. Management estimates these new prospects have a combined potential of over 75 Bcf of recoverable gas and it can also be expected that successful drilling of some of these prospects will lead to further follow-on targets as they investigate trap types that have not been previously drilled in this area.
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