Company Presentation - Proactive Investors

Ascent Resources plc
Extraordinary General Meeting
14 th December 2009

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Such risks and other factors include, but are not limited to, general economic and business conditions, changes in government regulations,
currency fluctuations, the oil price, the Company's ability to recover its reserves or develop new reserves, competition, changes in
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Company Profile
• Multi-project European focussed oil and gas exploration and production
company – operating projects across 5 countries
• Balanced portfolio provides significant benefits
• Multiple near term production opportunities
• Lower risk - development, redevelopment & appraisal projects
• Higher risk - exploration projects
• European onshore focus provides:
• Cost effective evaluation, development and exploration
• Strong market for production, particularly gas
• Well developed infrastructure
• Stable fiscal, legal and political framework
• High calibre board with strong industry backgrounds, an experienced and
commercially astute management team and access to world class
technical resources
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Business Model
• Pursue low cost onshore oil and gas assets with high upside potential
primarily in western and central Europe
• Prioritise ‘Reserve Growth’ over production although expecting to be cash
flow positive in 2010
• Operate projects utilising ‘Local Operating Entities’
• Utilise modern exploration and development techniques – 3-D seismic use
provided 100% success in last 4 wells
• Funding approach centred on debt/equity funding for development projects
and farm-outs for exploration projects to mitigate risk
• Disciplined capital management – Ascent has raised less than £19m
cumulatively post listing and funded 6 seismic acquisitions, 15 wells,
extensive exploration studies and Company overhead
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Recent History
• Currently undertaking a four month work programme to de-risk the portfolio
and provide opportunities for value creation in 2010
• Active drilling programme – last four all successful:
• PEN-05 well in Hungary – testing complete, due on production in February 2010
• GH-1 well in Hungary – successfully tested, due on production in March 2010
• PEN-04AA well in Hungary – gas from logs, testing to continue in January 2010
• Fontana 1 geological appraisal well in Italy – currently drilling
• 3-D seismic programme
• Petisovci field in Slovenia – acquisition complete, data processing in progress
• Filovci field in Slovenia – acquisition just completed
• Lovaszi seismic planned for April 2010
• New Hungarian project
• Agreed terms with MOL for joint operations at Lovaszi in south western Hungary,
adjacent to the Petisovci project
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Upcoming Activity
December 2009
Complete testing the PEN-104AA well in Hungary
Complete drilling and core analysis of Fontana 1 geological appraisal well in Italy
January 2010
Finalise interpretation of the Petisovci 3D Seismic
February 2010
PEN -105 expected to commence production
March 2010
Finalise interpretation of the Filovci 3D Seismic
GH1 expected to commence production
April 2010
Commence 3D Seismic survey in Lovaszi
H1 2010
Drill PEN-101 & PEN-106
Drill 1st well in Petisovci project
Drill 1st new well in the Filovci project

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Company Projects

PEN Development and Drilling
• Successful drilling campaign in the Nyírség licence in eastern Hungary on
the back of 3D seismic acquisition in December 2008
• PEN-105 drilled and successfully tested, pipeline permitting near
completion and production expected to commence February 2010
• PEN-104AA shows gas on logs and testing to continue in January
• Other PEN wells planned for early 2010 (Miocene Development):
• PEN-101
• PEN-106
• Other PEN locations to be evaluated
• Gas price range €/Mscf = €5.7 to €9.1. Royalty range = 8% to 20%
• Forecast gas production range 6-10MMscf (1,000-1,700boepd) gross
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PEN Development

Petisovci 3-D Seismic Acquisition
• Substantial tight gas potential – core area estimates of 300 Bcf
• Shallow oil targets in the 5-10 million barrel range
• Seismic acquisition complete - processing and interpretation currently in
progress with results expected in January 2010
• Prospects to be identified and drilling/workovers expected to commence in
H1 2010
• Previously producing field - infrastructure in place allowing for early
production
• The project can potentially provide a significant contribution to the
Slovenian gas market with strong local pricing expected
• Follow up 3-D seismic acquisition in the neighbouring Lovaszi area in early
2010
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Petisovci 3-D seismic acquisition

Anagni Appraisal Drilling
• Anagni geological appraisal well currently drilling (called Fontana-1)
• Shallow low cost well of

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Anagni Appraisal Drilling

Filovci 3-D Seismic Acquisition
• 3-D seismic acquisition just completed
• Eastern Slovenia shallow gas exploration project with potential reserves of
30BCF
• Previous wells in the area have produced oil and gas
• Acquisition expected to be completed in late 2009 with data processing
complete in March 2010
• First well expected during 2010
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Hungarian/Slovenian Operations

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Project Timeline

Other Interests
• Development / Redevelopment
• Ripi Oilfield Redevelopment Italy
• Bajcsa Gasfield Redevelopment Hungary
• Appraisal
• Hermrigen Gasfield Appraisal Switzerland
• M-11 Gasfield Appraisal Netherlands
• Gros de Vaud Oil discovery Switzerland
• Exploration
• Cento and Bastiglia – Gas exploration Po Valley, Italy
• Fiume Arrone – Gas exploration Roma, Italy
• Concordat – Oil and gas exploration Switzerland
• Asset management agreement with San Severina is the process of
winding up
• 22.5% interest in Perazzoli Drilling - Italian Contractor with 3 rigs
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Summary
Proceeds of the placing are to fund:
• Lovaszi seismic
• Petisovci Drilling/workovers
• Filovci Drilling
If successful these activities are envisaged to provide:
• New proven reserves
• Next development project
• Increase of production
• Early additional cash flow
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