By Jaime Llinares Taboada

 

Ascent Resources PLC said Wednesday that it now expects to generate net revenue of at least 150,000 euros ($164,348) a month from its Petisovci gas project in Slovenia.

The London-listed energy company said this forecast assumes an average gas price of EUR120 a megawatt hour, and represents a 50% increase on previous expectations announced in October.

In addition, Ascent said that Slovenia is seeking to prohibit all forms of hydraulic stimulation for hydrocarbon exploration and production, which further reinforces the company's claim against the country under the Energy Charter Treaty and U.K.-Slovenia Bilateral Investment Treaty.

Shares at 0928 GMT were down 1.5% at 3.30 pence.

 

Write to Jaime Llinares Taboada at jaime.llinares@wsj.com; @JaimeLlinaresT

 

(END) Dow Jones Newswires

March 16, 2022 05:56 ET (09:56 GMT)

Copyright (c) 2022 Dow Jones & Company, Inc.
Ascent Resources (LSE:AST)
Historical Stock Chart
From May 2022 to Jun 2022 Click Here for more Ascent Resources Charts.
Ascent Resources (LSE:AST)
Historical Stock Chart
From Jun 2021 to Jun 2022 Click Here for more Ascent Resources Charts.