Ascent pleases with well update

European oil and gas company Ascent Resources has been lifted by better-than-expected results at the PEN-105A gas well in the Penészlek field of north-eastern Hungary.

European oil and gas company Ascent Resources has been lifted by better-than-expected results at the PEN-105A gas well in the Penszlek field of north-eastern Hungary.

The firm recently completed operations to add additional perforations to the well, which is a sidetrack of the PEN-105 well and was originally completed in April 2012 with seven metres of perforations. The asset is owned by PetroHungaria, in which Ascent sash a 48.8% stake.

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