Ascent Resources has extended its licences in the M10 / M11 block, which is located in shallow waters off the north coast of the Netherlands in the southern North Sea, until 30 June 2013.
The licence area contains gas discovery wells with gas present in the Slochteren unit of the Rotligendes sandstones.
Ascent has prepared a conceptual development plan and a final appraisal well is expected to be drilled in the second half of 2012 to confirm the reservoir parameters for the detailed project design.
The well will be part of the Terschelling Noord discovery, which is in a structure that lies partly within the M10 / M11 licence area and partly to the south.
Ascent Resources owns a 54% majority stake in the project, while Energie Beheer Nederland and GTO have 40% and 6% interests, respectively.