The target of the well is the Miocene tuffaceous formation within a structure defined on 3-D seismic of the area acquired in 2008 and similar to that proven by the PEN-105 well.
The well is planned for a total depth of approximately 1,500mt and, if productive, will be connected to the existing Peneszlek facilities by a 2km pipeline, for which the permit has already been obtained.
Once the rig has finished the PEN-106 well, it will return to PEN-101 to complete the remedial work required to ready the well for production.
Ascent Resources is an oil and gas exploration and production company and has a diversified portfolio of hydrocarbon exploration and development projects across five countries in Europe: Italy, Switzerland, Hungary, Slovenia and Netherlands.
