StockMarketWire.com - Energy and natural resources company Ascent Resources upgraded its outlook revenue following a significant jump in gas prices at its Petisovci gas project in Slovenia.

The company now expects, at current gas prices and production levels, the PG-10 and PG-11A production wells to generate net production revenues of at least Euro 100,000 per month, net to Ascent.

Central Eastern Gas Hub spot prices were currently circa €105.0 per MWh whilst Central Eastern Gas Hub pricing for Q1 2022 futures were currently €104.725 per MWh. This marked an 905% increase from the €11.4 / MWh price, set out in the company's 10 September 2020 announcement.

The company it was in constructive dialogue with its joint venture partners in Slovenia regarding 'the resolution of all disputed legacy matters and the restructuring of certain production costs.'






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