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13 Nov 2018 | 13:34

Ascent Resources welcomes process review by Slovenia environment minister

Ascent Resources expressed hope that a review of regulatory procedures in Slovenia would help speed up the approval of its Petisovci tight gas project.

Ascent said the the first impact from a review by environment minister Jure Leben's review has been the resignation of the general director of the Slovenian Environmental Agency.

'We welcome action by the new environment minister to ensure that the permitting system works to protect the environment while delivering a process that responsible companies can rely on to make investments beneficial to the economic growth and energy security of Slovenia,' Ascent said.

'We have requested a meeting with the minister to understand how the permits necessary for the future development of the field can be processed without further unnecessary delay to a process which has already gone on much longer than should have been the case.'

Ascent said it had previously been deeply disappointed at the way the permitting process has been carried out by ARSO, including 'the misapplication of legislation' which it claimed resulted in an adverse court ruling in 2016.

At 1:34pm: (LON:AST) Ascent Resources PLC share price was +0.08p at 0.58p

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