By Josh White
Date: Friday 12 Aug 2022
LONDON (ShareCast) - (Sharecast News) - Onshore energy and natural resources company Ascent announced receipt of the first cash payment from its Slovenian partner on Friday, following the recently-announced agreement on revenue recognition.
The AIM-traded firm and its joint venture partner agreed Ascent's entitlement to 90% of the hydrocarbon production revenues from the PG-10 and PG-11A from April 2020 to June 2022.
It said its wholly-owned subsidiary, Ascent Slovenia, had received the first net cash payment of €0.65m in relation to production from April 2020 to December 2021.
The net payment was calculated as €0.83m in revenue, less €0.18m of joint venture costs relating to historic concession and legal fees.
"The second and final payment relating to the 2022 hydrocarbon revenues, totalling a further net cash payment of €0.86m to Ascent, is expected to follow shortly," the board said in its statement.
At 1237 BST, shares in Ascent Resources were up 12.99% at 4.35p.
Reporting by Josh White at Sharecast.com.
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Currency | UK Pounds |
Share Price | 1.90p |
Change Today | 0.000p |
% Change | 0.00 % |
52 Week High | 4.10 |
52 Week Low | 1.82 |
Volume | 1,789,388 |
Shares Issued | 238.12m |
Market Cap | £4.52m |
RiskGrade | 630 |
Value |
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Price Trend |
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Income |
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Growth |
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No dividends found |
Time | Volume / Share Price |
12:26 | 3,856 @ 1.82p |
11:00 | 600,500 @ 1.90p |
11:00 | 599,715 @ 1.90p |
11:00 | 785 @ 1.90p |
09:37 | 25,032 @ 1.96p |
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