Ascent Resources will continue to try to push ahead with the Petisovci gas project, but it will also seek other opportunities in the Central European region.
The plans is to develop production in the shallower zones of the Petisovci gas project area. The Slovenian authorities are still denying an environmental permit to Ascent. An Environmental Impact Assessment has been requested for the re-stimulation of two wells. An appeal is planned because six experts stated that this should not be required.
Ascent has invested more than €50m in Petisovci and may claim damages.
Ascent generated €70,379 from production in January and €44,513 in February.
Management is seeking investments in Romania, Hungary and Croatia.
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