Issue of Consultancy Shares

6 January 2021

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 208,991 ordinary shares ('Consultancy Shares'),  to a supplier for financial modelling and business development services rendered in the months of November and December, at an average issue price of 5.74 pence per share being calculated as the monthly volume weighted average price calculations for the respective months 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 12 January 2021.

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 95,492,272 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 95,492,272. 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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