Issue of Consultancy Shares and TVR

15 October 2020

Ascent Resources plc

("Ascent" or the "Company")

Issue of Consultancy Shares and TVR

Ascent Resources Plc (LON: AST) the onshore Caribbean, Hispanic American and European energy and natural resources company, announces that it has today issued 525,909 ordinary shares ('Consultancy Shares'),  to a supplier for technical and subsurface services rendered relating to potential Cuban oil and gas and mining opportunities, at a price of 4.02 pence per share being calculated as the 10 day volume weighted average price calculation following the quarter in which the services were rendered.

Application for admission to trading on AIM for the above will be made today and admission is expected to take place on or around 21 October 2020.

In accordance with the provision of the Disclosure Guidance and Transparency Rules of the Financial Conduct Authority, the Company confirms that, following the issue of the Consultancy Shares, its issued ordinary share capital will comprise 76,135,561 ordinary shares. All of the ordinary shares have equal voting rights and none of the ordinary shares are held in Treasury. The total number of voting rights in the Company will therefore be 76,135,561. The above figure may be used by shareholders as the denominator for the calculations to determine if they are required to notify their interests in, or change to their interest in, the Company.

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