Ascent Resources plc (Ascent) is engaged in gas and oil exploration and production. The Company has gas and oil interests in Europe, principally in Hungary, Slovenia, Switzerland, Italy and the Netherlands. Its projects include Petisovci/Lovaszi Tight Gas Project, Nyirseg - Peneszlek Mining Plot, Petisovci - Lovaszi, Frosinone Exploration Permit - Latina Valley, Po Valley - Cento & Bastiglia Exploration Permit and Peneszlek Gas Production Project. The Petisovci/Lovaszi Tight Gas Project is located in a 200 square kilometers area. On February 2, 2011, the Company acquired an additional 48.75% interest in the Petisovci Project in Slovenia. On April 18, 2012 PetroHungaria kft, in which Ascent has a 48.78% interest, completed the drilling of the PEN-105A sidetrack in the Peneszlek Project in Eastern Hungary.