Ascent Grabs Tiger by the Tail, Obtains Increase in Shareholding

Ascent Resources states that following press speculation to the contrary, Tiger Resource Finance has increased its shareholding in the Company following the exercise of warrants.

On 17 December 2007 notification was received from Tiger Resource Finance that on 14 December 2007 Tiger Resource Finance had a total holding of 24,642,857 ordinary shares of 0.1p each in the Company, which represents 8.17 per cent. of the Company's issued ordinary share capital. This figure was an increase on its holding following the exercising of 549,541 warrants at a price of 12 pence per share.