Ascent Resources reports that PetroHungaria kft in which Ascent has a 48.3% interest has completed the drilling of the PEN-105A sidetrack in the Penészlek Project in Eastern Hungary. The results of the well have exceeded management's expectations and are better than the original PEN - 105 well with approximately 20m of gas bearing formations drilled in the targeted Miocene volcanicastic reservoirs.
The PEN-105A well was sidetracked from the existing PEN-105 well to a measured depth of 1,640m and a location some 460m northeast of the original well. It was designed to drain gas reserves from the northern half of the structure which is bisected by a sealing fault. The original well has recovered some 0.85 Bcf (24 Mm3) of gas from the smaller southern part of the structure since production started from it in March 2010.