Ascent Resources plc / Epic: AST / Index: AIM / Sector: Oil and Gas 21 March 2012 Ascent Resources plc (Ascent or the Company) Pen�szlek Operations Update Ascent Resources plc, the AIM listed European oil and gas exploration and production company, announces that PetroHungaria kft, the operator of the Pen�szlek gas production concession in eastern Hungary, has commenced operations to sidetrack the PEN-105 well.

The PEN-105A sidetrack, with a bottom hole location some 430m north-east of the original vertical well, is designed to recover gas reserves isolated by a fault in the northern part of the structure. Ascent Resources plc holds a 48.78% interest in the PEN-105 well and its partners in the project are DualEx of Canada, Geomega of Hungary and Swede Resources of Sweden.

The drilling of the sidetrack is expected to take about three weeks after which gas production from the well is planned to recommence.

The PEN-105 well was originally drilled in 2009. Ascents Managing Director Jeremy Eng said, �Over the years, production at Pen�szlek has generated revenues that have helped to cover our corporate overheads while we have advanced our flagship Peti�ovci Gas Project in Slovenia towards production.

The PEN-105 sidetrack is designed to extend the life of this largely depleting field.

As Pen�szlek declines in line with expectations, the loss of output will be more than replaced when Peti�ovci, with its 504 Bcf P50 gas-in-place, comes on stream as we expect later this year.

This is an exciting time for the Company and I look forward to updating the market on progress at both Pen�szlek and Peti�ovci in due course.� For further information visit www.ascentresources.co.uk or contact: Jeremy Eng Ascent Resources plc Tel: 020 7251 4905 Scott Richardson Brown
Sarah Wharry finnCap Ltd (NOMAD & Broker) Tel: 020 7600 1658 Ben Thompson
Frank Buhagiar St Brides Media & Finance Ltd Tel: 020 7236 1177 Isabel Crossley
Notes Ascent Resources plc has a diversified portfolio of hydrocarbon exploration and development interests across five countries in Europe: Italy, Switzerland, Hungary, Slovenia and Netherlands.

Its portfolio contains a solid base of field redevelopment projects with selected exposure to exploration upside.

The portfolio is focussed on gas and with the exception of the shallow water Netherlands project, all of its projects are located onshore where operating and development costs are substantially lower than they would be offshore.