Ascent begins 3D seismic survey in Hungary

Ascent Resources PLC has started shooting a 3D seismic survey over the Peneszlek area of the Nyirseg permits in Hungary.

Oct 24th, 2008

Uchenna Izundu
International Editor

LONDON, Oct. 24 -- Ascent Resources PLC has started shooting a 3D seismic survey over the Peneszlek area of the Nyirseg permits in Hungary.

The company, along with its partners, plan to use the survey data covering 100 sq km to delineate other gas reserves in the vicinity. The nearby PEN-104 well started producing 3.8 MMscfd of gas in August.

"Two wells in the survey area, PEN-9 and PEN-12 have previously tested gas but to date have not been put into production," Ascent said. "The partially depleted Peneszlek field also is within the survey area."

Leni Gas & Oil has a 7.27% interest in the project through its equity interest in PetroHungaria KFT. Other partners are DualEx 37.5%, Geomega 8%, Ascent Resources 45.23%, and Swede Resources 2%.

Contact Uchenna Izundu at uchennai@pennwell.com.

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