Ascent increases stake in Dutch license

Ascent Resources Netherlands (ARN) has increased its interest in the M10/11 block in the Dutch North Sea.

Offshore staff

LONDON -- Ascent Resources Netherlands (ARN) has increased its interest in the M10/11 block in the Dutch North Sea.

Following the transfer of McLaren Resources’ 27% stake in the block, ARN now holds a 54% interest. Other partners are Dutch state company EBN with 40% and GTO with 6%.

The M10/11 appraisal project is in shallow waters off the northern Netherlands coast. NAM discovered gas with the M11-1 well in Rotliegendes sandstones in 1985. According to ARN, the area has sound 3-D seismic coverage. Aside from the discovery, various other prospects and leads have been identified.

Ascent and its partners may sanction an appraisal well on the Terschelling Noord discovery, also drilled by NAM in 1992. This structure is partly within the M10/11 license area and partly to the south.


07/15/2010

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