Ascent Resources plc – 2017 has been a postive year, more to come in 2018 Colin Hutchinson, CEO of Ascent Resources plc joins Matt Brown to discuss recent flow rates at their Pg-10 and Pg-11a gas wells in the Petišovci field in Slovenia. Huchinson comments on how the progress on flow production rates from the two wells and the reasons behind the gradual but steady rise in the rates.
Hutchinson explains to viewers and shareholders why there is a need for patience regarding the flow rates and why they are not running at the full rates initially. Hutchinson also explains the progress on recieving cash for the gas supplied to Croatia and how Ascent Resources plc is acheiving it’s targets for 2017.
He also discusses despite positive news flow and updates that will see Ascent Resources plc be profitable on an EBITDA basis, this has not been reflected in the current share price. Looking ahead to the end of 2017 and 2018, Hutchinson highlights the ongoing court case delaying the plan to provide gas to the local Slovenian national grid. Hutchison expects an update on this case very soon.
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