Ascent Resources plc, Annual General Meeting, Jul 23, 2009

Ascent Resources plc recently announced its final results for the year ended December 31, 2008. The firm reported a pre-tax loss of £2.8 million. Ascent Resources’ Managing Director, Jeremy Eng said, "2008 was a pivotal year for Ascent as we moved from being a pure exploration play into a producer, with the commencement of gas production at the PEN-104 well in Hungary. Whilst our focus remains on the development of our diverse portfolio, which continues to mature through sustained exploration and appraisal drilling programs, we are also exploring new opportunities for investment and acquisition. In line with this, we established an asset management joint venture agreement with San Severina, which has committed an initial €100 million to the joint venture. Our relationship with San Severina enables us to utilize our team's extensive knowledge and expertise in the field as leverage to acquire positions in potentially high value projects through the joint venture. Furthermore, we have been able to strengthen and add flexibility to our existing financing strategy by agreeing a £5 million credit facility with GEM Global Yield Fund."

Ascent Resources plc filed its Annual on December 31, 2008 for the period ending December 31, 2008. In this report its auditor, KPMG LLP, gave an unqualified opinion expressing doubt that the company can continue as a going concern.