European focused oil and gas exploration and production company, Ascent Resources (AIM: AST) announced that it has commenced a 3D seismic survey in the Penészlek area of the Nyírség permits in Hungary.
The survey will cover 100 square kilometres of the license area, and is intended to pinpoint other gas reserves in the vicinity. Two wells in the survey area, PEN-9 and PEN-12 have previously tested gas but to date, have not been put into production. The partially depleted Penészlek field also is within the survey area, the company stated.
Ascent holds a 45.23% interest in the Penészlek Project through its equity interest in PetroHungaria kft.
Ascent Managing Director Jeremy Eng said, 'This is a positive step forward in the continued development of our Hungarian assets. Following the success of the PEN-104 well, currently producing 108,000 cu. M per day (3.8 MMscfd), we expect that the data acquired from this survey will point us towards new drilling opportunities and allow us to bring further cash generative wells on line in the area.'