Ascent Spuds Hungary Gas

18 August 2009 (Last Updated August 18th, 2009 18:30)

British oil and gas company Ascent Resources has spudded the Gorbehaza-1 well, located in western Nyirseg Szatmar, Hungary. The drilling is expected to last for about ten days, to evaluate a primary gas target estimated at a depth of 1,200m. Ascent has a 20% interest in the Panh

British oil and gas company Ascent Resources has spudded the Gorbehaza-1 well, located in western Nyirseg Szatmar, Hungary.

The drilling is expected to last for about ten days, to evaluate a primary gas target estimated at a depth of 1,200m.

Ascent has a 20% interest in the Panhandle exploration project, having acquired an additional 2% from Geomega Kft.

The other project partners include operator HHE, which holds a 33% stake, JKX with 33%, DualEx Energy International with 12.5% and Swede Resources with (0.667%).