Ascent Resources announced that it is currently drilling the PEN-106 well, part of the Penészlek Project in the Penészlek area of the Nyírség exploration permits in eastern Hungary.
The target of the well is the Miocene tuffaceous formation within a structure defined on 3D seismic of the area acquired in 2008 and similar to that proven by the PEN-105 well. The well is planned for a total depth of approximately 1,500m and, if productive, will be connected to the existing Penészlek facilities by a 2 km pipeline, for which the permit has already been obtained.
Once the rig has finished the PEN-106 well, it will return to PEN-101 to complete the remedial work required to ready the well for production.
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