Ascent Resources Spins Bit in Eastern Hungary

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.