REG - Ascent Resources PLC - ECT Hearing Concluded

Ascent ResourcesAnnouncement

17/04/2025 07:00

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RNS Number : 3551F  Ascent Resources PLC  17 April 2025

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17 April 2025

Ascent Resources plc

("Ascent" or the "Company")

Conclusion of ICSID Energy Charter Treaty Arbitration Hearing

against the Republic of Slovenia

Ascent Resources Plc (LON: AST) is pleased to announce that the arbitration
hearing in relation to the International Centre for Settlement of Investment
Disputes (ICSID) Energy Charter Treaty (ECT) claim against the Republic of
Slovenia by the Company and its 100% owned subsidiary Ascent Slovenia Limited
(ECT) (Ascent Resources Plc and Ascent Slovenia Ltd v. Republic of Slovenia
(ICSID Case No. ARB/22/21) was held over the 7 to 11 April in Paris. Amongst
the matters addressed during the hearing, which is private and confidential in
accordance with the rules of the arbitration process, were the merits and
quantum evaluations of the claim.

The Company remains highly confident in its claim which relates to the
Republic of Slovenia's expropriation of the full investment value of the
Company's 75% interest in the Petišovci tight gas field. Any substantive
decisions by the Tribunal following the hearing or further updates will be
announced as required.

It should be noted that pursuant to the shareholder distributions in Q1 2024
and February 2025, the Company retains a 10% economic interest in the net
proceeds to be received in the event of a positive claim outcome and receipt
of a damages award. It should be cautioned that in the event of success any
amount actually received by the Company may be significantly lower than the
full claim amount.

Enquiries:

 Ascent Resources plc                  Via Vigo Communications

 Andrew Dennan
 Zeus, Nominated Adviser & Broker      0203 829 5000

 James Joyce / James Bavister
 Novum Securities, Joint Broker        0207 399 9400

 Jon Belliss / Colin Rowbury           Corporatebroking@novumsecurities.com

 

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