Ascent Resources plc, the European focused oil & gas exploration and production company, is pleased to announce that it has completed an oversubscribed placing of 214,285,714 Ordinary shares of 0.2 pence with a small number of institutional investors. The Placing was conducted at a price of 0.35 pence per share. 

The gross proceeds of the Placing amounting to £750,000 will be used to complete the reprocessing of the Company's 3D seismic data on Petišovci, place an order for compression equipment, evaluate other regional opportunities and provide additional working capital.  

The Company will issue and allot a total of 214,285,714 New Ordinary Shares to satisfy the Placing. Application has been made to the London Stock Exchange for these New Ordinary Shares, which rank pari passu with the Company's existing Ordinary Shares, to be admitted to trading on AIM. Dealings are expected to commence at 8.00 a.m. on 29 April 2019. 

Appointment of Joint Broker

The Company has appointed SP Angel Corporate Finance LLP ("SP Angel") as joint broker with immediate effect.

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