ASCENT RESOURCES PLC

M&A Activity • Nov 1, 2021

National Storage Mechanism | Additional information

RNS Number : 8730Q

Ascent Resources PLC

01 November 2021

1 November 2021                                           

Ascent Resources plc

("Ascent" or the "Company")

Cuba Update: MOU Extension

Ascent Resources Plc (LON: AST), the onshore Caribbean, Hispanic American and European focused energy and natural resources company, is pleased to announce that, further to the announcement of 29 April 2021, it has agreed a two month extension to the Memorandum of Understanding ('MOU') which it has signed with CUPET, the Cuban national oil company, that gives the Company the exclusive right to negotiate the Production Sharing Contracts ('PSCs') for the onshore producing Block 9B and onshore exploration Blocks 9A, 12 and 15. The MOU extension follows delays in country as a result of COVID-19 protection and isolation measures that had been implemented in Cuba and which are expected to be relaxed along with the reopening of the country's borders which is expected from 15 November.

Enquiries:

Ascent Resources plc Andrew Dennan	Via Vigo Communications
WH Ireland, Nominated Adviser & Broker James Joyce / Sarah Mather	0207 220 1666
Novum Securities, Joint Broker John Belliss	0207 399 9400

The information contained in this announcement has been reviewed by Leonardo Salvadori, Ascent's Technical Director, a qualified geologist and geophysicist and member of the Italian Society of Petroleum Engineers.

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