Ascent Resources plc said it had formally notified the Slovenian government of further claims of treaty breaches over its hydrocarbon operations in the country. HYDRAULIC STIMULATION The company refers to the UK-Slovenia Bilateral Investment Treaty (BIT) and the Energy Charter Treaty (ECT). Ascent added that Slovenia’s recent actions include a ban on holders of mining […]
Tag: Ascent Resources plc
Ascent faces legal block to some gas workstreams in Slovenia
Ascent Resources plc said that, due to a legal amendment, it did not expect to complete certain work relating to hydraulic stimulation of its operating gas wells in Slovenia. LAW AMENDMENTS The company also expects to increase its claim for damages due to a further breach of the Energy Charter Treaty (ECT) and UK-Slovenia Bilateral […]
Ascent raises £242,500 via warrant exercise
Ascent Resources plc has raised £242,500 after agreeing to the immediate exercise of the remaining equity warrants issued on 6 August 2020. The August 2020 warrant holders owned in total a remaining 6,062,500 new equity warrants exercisable at 4 pence per new warrant share. In exchange for the accelerated warrant exercise, Ascent agreed to issue […]
Ascent NED Ewen Ainsworth to leave
Ascent Resources plc non-executive director Ewen Ainsworth will step down from 28 February 2022. Mr Ainsworth has accepted a full-time executive position elsewhere.
Ascent nears legal deal for Slovenia arbitration
Ascent Resources plc soon expects to complete the conditions to the binding damages-based agreement appointing Enyo Law LLP as its representative in the dispute with Slovenia. TREATY In a statement Ascent added: “Following completion, the company and its legal advisor will immediately progress to compile and execute the required materials and officially submit the arbitration […]
Ascent raises £600,000 via placing
Ascent Resources plc raised £600,000 through issue of 18,181,818 placing shares each with a nominal value of 0.5 pence per share each at a placing price of 3.3 pence. Align Research Ltd, which is a substantial shareholder of Ascent, subscribed for £50,000 of the new equity issue.