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Ascent Resources Plc announced on 01 November 2021 that it has agreed a two-month extension to its Memorandum of Understanding (MOU) with CUPET, the Cuban national oil company. This extension prolongs Ascent's exclusive right, initially granted via an MOU on 29 April 2021, to negotiate Production Sharing Contracts for onshore Blocks 9B, 9A, 12, and 15.
| Date | 1 Nov 2021 |
| Time | 07:53:58 |
| Category | Corporate updates |
| ID | 8730Q |
1 November 2021
Ascent Resources plc
("Ascent" or the "Company")
Cuba Update: MOU Extension
Ascent Resources Plc (LON: AST), the onshore Caribbean, Hispanic American and European focused energy and natural resources company, is pleased to announce that, further to the announcement of 29 April 2021, it has agreed a two month extension to the Memorandum of Understanding ('MOU') which it has signed with CUPET, the Cuban national oil company, that gives the Company the exclusive right to negotiate the Production Sharing Contracts ('PSCs') for the onshore producing Block 9B and onshore exploration Blocks 9A, 12 and 15. The MOU extension follows delays in country as a result of COVID-19 protection and isolation measures that had been implemented in Cuba and which are expected to be relaxed along with the reopening of the country's borders which is expected from 15 November.
Enquiries:
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Ascent Resources plc Andrew Dennan |
Via Vigo Communications
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WH Ireland, Nominated Adviser & Broker James Joyce / Sarah Mather |
0207 220 1666 |
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Novum Securities, Joint Broker John Belliss
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0207 399 9400
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The information contained in this announcement has been reviewed by Leonardo Salvadori, Ascent's Technical Director, a qualified geologist and geophysicist and member of the Italian Society of Petroleum Engineers.