Ascent Resources plc (LON: AST), the onshore Caribbean, Hispanic American and European energy and natural resources company, announces that the Administrative Court of the Republic of Slovenia has published its decision in relation to Ascent's JV partner Geoenergo d.o.o's appeal against the Slovenian environmental agency ARSO's decision to require an Environmental Impact Assessment ('EIA') in order to re-stimulate the PG-10 and PG-11A wells. The Court has ruled that an EIA is required.
The Company is in the process of beginning preparations for submission of an EIA, alongside the stimulation and field development planning which was initiated recently.
The Court decision, along with earlier action by the State, will constitute important evidence to support the claim the Company intends to bring against the Republic of Slovenia under the Energy Charter Treaty.
Further updates will be released as necessary.