Ascent Resources plc has a won a further €4,990,976, plus interest since 19 January 2024, in an arbitration ruling against its former Slovenian joint venture partner Geoenergo d.o.o. PETROL GEO The sum is in addition to the €2,890,519.17 already accepted by Geoenergo’s administrator and approved by the relevant insolvency court. Proceedings relate to Ascent’s subsidiary’s […]
Tag: Petišovci – Slovenia
Ascent issues 15.7m shares to save costs
Ascent Resources plc has issued in total 15,770,217 new ordinary shares of 0.5p each to directors and executives in lieu of 30 to 40% of salaries or fees to save costs and align their interests with shareholders. DIRECTORS The shares cover the period of six months from 1 June 2025 and “other contractual amounts” owed […]
Ascent Slovenia tribunal hearing concludes
Ascent Resources plc and its Slovenia subsidiary’s arbitration hearing over its claim against the Republic of Slovenia has concluded. The hearing related to the International Centre for Settlement of Investment Disputes (ICSID) Energy Charter Treaty. The company said that the private and confidential hearing addressed matters including the merits and quantum evaluations of the claim. […]
Ascent issues one million shares for services
Ascent Resources plc has issued 1,149,058 new ordinary shares of 0.5 pence each in the company at an issue price of 2.3 pence for services to the company. A total 279,493 shares were issued to a former director employed in October and November 2024 and 869,565 to Optimo Research for services provided over the next […]
Ascent Slovenia operating agreement cancelled
Ascent Resources plc said its Slovenia partner’s administrator had terminated the restated joint operating agreement (RJOA) on the same date as the opening of its partner’s insolvency proceedings. PRECAUTION The termination is under default rules of Slovenian Obligations Code. The Petišovci onshore gas joint venture is between Ascent Slovenia Ltd (ASL) and Geoenergo d.o.o. which […]
Ascent Slovenia partner’s insolvency approved
Ascent Resources plc said that the high court has given final approval of its Slovenia joint venture partner Geoenergo d.o.o.’s insolvency. TENDER The company has stated it is owed approximately €8,000,000 of revenues which Geoenergo has already received. Ascent said it was still working to register Ascent Slovenia Ltd (ASL)’s claim in the insolvency proceedings […]