Ascent Resources Tests Positive Gas at GH-1 in Hungary

Ascent Resources has successfully completed and tested the Görbeháza-1 well ('GH-1') located in the western part of the Nyírség Szatmár permits in Hungary, known as the Panhandle. The first of two gas zones targeted for completion has achieved a gas flowrate of 3.74 MMscfd (106,000 Mm3/d).

The GH-1 well was drilled vertically to a total depth of 1,300m and encountered two gas bearing zones within the Upper Pannonian formations between 970m and 1,025m. The deeper of these two zones between 1,018m and 1,021m has been tested and flowed gas with small amounts of condensate at a rate of 3.74 MMcfd (106,000 Mm3/d) with a flowing wellhead pressure of 1,191 psig (81 barg). The well has been completed as a gas producing well and 2.5km of pipeline will be laid to the Hajdúnánás Gas Production Facility, where condensate will be recovered and the gas processed and sold into the main Hungarian gas pipeline network.

Ascent has a 20.167% interest in this project; other partners include JKX (33.333%), DualEx (12.5%) and Swede Resources AB (0.667%).

Ascent's Managing Director Jeremy Eng said, "The GH-1 well has produced gas at over 3.5 MMscfd from the first of its two completion intervals. This discovery is particularly important as the drilling location was identified by utilizing the same 3-D seismic technology that was used in the recent successful Penészlek appraisal well. We are using the same seismic techniques to identify drilling targets in Slovenia, where one third of a 90 sq km survey has been acquired in the area of the Petisovci project."