Ascent Resources PLC Resignation of the Director of ARSO (1882H)
13 November 2018 - 9:13PM
UK Regulatory
TIDMAST
RNS Number : 1882H
Ascent Resources PLC
13 November 2018
Ascent Resources plc / Epic: AST / Index: AIM / Sector: Oil and
Gas
13 November 2018
Ascent Resources plc
("Ascent" or the "Company")
Resignation of the Director of ARSO
The Board of Ascent wishes to update shareholders that the first
impact from Minister Leben's review has been the resignation of the
General Director of the Slovenian Environmental Agency
("ARSO").
As previously reported the permitting process, managed by ARSO,
has been ongoing since 2014. We have been deeply disappointed for
some time at the way the permitting process has been carried out by
ARSO, including the misapplication of legislation which resulted in
the Administrative Court ruling in 2016. This resulted in the
partners, through no fault of their own and at considerable cost,
having to effectively reapply for a permit which had already been
subject to a lengthy public consultation and approved by ARSO and
the (then) Environment Minister.
More recently we have been frustrated by the length of time it
had taken ARSO to request and approve the amendments necessary to
ensure that the application was compliant with all current
legislation. This was despite being assured that the process would
be carried out properly, something that all companies, regardless
of whether they are Slovenian or from other EU Member states,
should be entitled to rely on.
We welcome action by the new Environment Minister to ensure that
the permitting system works to protect the environment while
delivering a process that responsible companies can rely on to make
investments beneficial to the economic growth and energy security
of Slovenia.
We have requested a meeting with the Minister to understand how
the permits necessary for the future development of the field can
be processed without further unnecessary delay to a process which
has already gone on much longer than should have been the case.
Colin Hutchinson, CEO if Ascent Resources plc, commented:
"I am encouraged by the developments in Ljubljana yesterday and
hope that, once we enter into dialogue, any remaining issues can be
addressed in a timely fashion. I am happy that the project is now
being actively discussed in the Slovenian media and the opportunity
this provides to address any misinformation in circulation in
relation to the project."
Ascent Resources plc
Clive Carver, Chairman
Colin Hutchinson, CEO 0207 251 4905
WH Ireland, Nominated Adviser & Broker
James Joyce / Chris Viggor 0207 220 1666
Yellow Jersey, Financial PR and IR
Tim Thompson / Harriet Jackson / Henry Wilkinson 0203 735 8825
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END
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