Ascent applauds change of Slovenian environmental regime

Ascent Resources welcomed the resignation of the general director of the Slovenian environmental agency ARSO on Tuesday after a government investigation.

Joško Knez stepped down from the role stepped down over a review of environmental permit granting procedures concerning Ascent’s hydraulic fracturing gas extraction project proposal in the north east of the country.

AIM-traded Ascent said the move was encouraging as the board had been “frustrated” by the amount of time taken over application approvals, with one permitting process ongoing since 2014.

Colin Hutchinson, chief executive of Ascent Resources, said: "I am encouraged by the developments in Ljubljana yesterday and hope that, once we enter into dialogue, any remaining issues can be addressed in a timely fashion. I am happy that the project is now being actively discussed in the Slovenian media and the opportunity this provides to address any misinformation in circulation in relation to the project."

The company said that it has requested a meeting with new environment minister Jure Leben in order to understand the most efficient route to permitting success.

Ascent Resources’ shares were up 12.26% at 0.56p at 1258 GMT.