Ascent Resources PLC - European and Hispanic American project-focused oil and gas exploration and production company - Files its arbitration memorial and a significant increase in the size of the damages assessment in relation to Ascent Resources and Ascent Slovenia Ltd’s Energy Charter Treaty damages claim against Slovenia.

Explains the memorial filed for it by Enyo Law LLP is a document that includes the narrative and legal reasoning of how the companies’ investments in Slovenia have been ‘unfairly targeted and expropriated by Slovenia’. Also includes witness statements from ‘key individuals and independent third party technical and quantum expert reports’.

The damages assessment has validated a €656.5 million damages claim, Ascent says, though it warns that, if successful, any amount actually received may be ‘significantly lower’ than the full claim.

Current stock price: 3.77 pence, up 13% in London on Friday morning

12-month change: up 7.7%

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