Ascent Resources Resumes Anagni-1 Testing in Italy

Workover operations on the Ascent Resources Anagni-1 well in the Frosinone Exploration Permit in the Latina Valley, Italy, have been completed and testing is expected to recommence today.

The full potential of the well will not be known until large quantities of drilling fluids (drilling 'mud') that were lost into the reservoir formation while drilling are recovered. These losses, which are characteristic of high permeability reservoirs in the region are due to the fractured nature of the rock and will enhance the productivity of the formation.

So far an estimated 75% of the volume of the lost fluids has been recovered. Core analysis results are encouraging for the oil potential of the well and the downhole equipment which uses the same pump as before has been reconfigured to more efficiently reach a conclusive test result.

Ascent has an 80% interest in the Anagni-1 well and the Company will release further information on the progress of the testing operations as and when available.