Ascent Resources sees production slip in August, warns of September shut-in

Ascent Resources saw total production for the month of August fall 10% month-on-month to 727,851 cubic metres, while average daily production slipped 11% to 23,456 cubic metres.

The AIM-listed energy firm told investors on Monday that total revenues from gas sales were expected to hit roughly €140,000 for the month, with an additional €7,000 expected to be received from the sale of condensate.

The continental Europe-focused miner warned investors that it had planned to shut-in one of its wells for three weeks in September, due to annual maintenance requirements being carried out at a nearby processing facility.

Lastly, Ascent Resources confirmed that amendments requested by the Slovenian Environment Agency, with whom it had grown "increasingly frustrated" with, were submitted as planned on Tuesday 4 September.

Ascent had previously said the "lack of concrete action" from Slovenian politicians, despite their verbal assurances of support, had been disappointing and caused it several permitting delays in the Eastern Bloc nation, deterring a "number of otherwise interested parties".

As of 1120 BST, Ascent shares had slipped 1.94% to 0.76p.