Ascent Resources PLC IPPC Appeal (3287E)
05 May 2017 - 8:15PM
UK Regulatory
TIDMAST
RNS Number : 3287E
Ascent Resources PLC
05 May 2017
5 May 2017
Ascent Resources plc
("Ascent" or the "Company")
IPPC Appeal
The Board of Ascent Resources plc (AIM: AST), the European
focused oil & gas exploration and production company has been
informed by its partners in Slovenia that a further appeal has been
lodged with the Slovenian Administrative Court ("Court") by the
same individual against the decision of the Slovenian Environment
Agency and the Environment Minister that a full Environmental
Impact Assessment was not required in relation to the proposed gas
treatment facility at the Petisovci gas field.
This was expected given that the appellant has repeatedly
objected to the project at every stage despite these objections
being consistently rejected by the Environment Agency (twice), the
Environment Minister (twice) and the Administrative Court (once).
Whilst the Court did ultimately reject the permit but on grounds
unrelated to appellants complaint.
As the partners have now rectified the perceived issues
identified by the Court during the last hearing we are confident
that the Court will again rule in our favour when they reconsider
the case, which we hope will occur during the second half of
2017.
This decision does not impact the activities of the Joint
Venture which commenced the sale of gas from well Pg-10 in April
2017 and looks forward to sending production through the export
pipeline in June this year.
Colin Hutchinson, CEO, commented:
"The decision by this individual to appeal is entirely expected
as they have no interest in the rationality of their objections or
the harm which their actions have inflicted on the national
interests of Slovenia and the local economy. We are pleased that
the self-interest of one individual should no longer block the
commercial interests of Ascent, even if they delay the principal
benefits that will accrue from the project to the Slovenian
state."
Enquiries:
Ascent Resources plc
Clive Carver, Chairman
Colin Hutchinson, CEO 0207 251 4905
Stockdale Securities Limited, Nominated
Adviser and Joint Broker
Richard Johnson
Edward Thomas 0207 601 6100
Northland Capital Partners Limited,
Joint Broker
Tom Price 0203 861 6625
IFC Advisory Ltd, Financial PR and
IR
Tim Metcalfe
Heather Armstrong 0203 053 8671
This information is provided by RNS
The company news service from the London Stock Exchange
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