21 June 2016

Ascent Resources plc

('Ascent' or the 'Company')

Issue of Equity

Ascent Resources plc, the AIM quoted European oil and gas exploration and production company, has received a notices of exercise ('the Notices') to convert

· 258,190 convertible loan notes of £1 each which were issued in May 2013 as part of an open offer to all shareholders (the '2013 Loan Notes') and the terms of which were amended in February 2015. The 2013 Loan Notes, including rolled up interest, are convertible into new ordinary shares of 0.2 pence each in the capital of the Company ('Ordinary Shares') at a rate of 100 new Ordinary Shares per £1 loan note; and

· 55,112 convertible loan notes of £1 each which were issued to Henderson Global Investors in February 2014 (the '2014 Loan Notes') and the terms of which were amended in February 2015. The 2014 Loan Notes, including rolled up interest, are convertible into new Ordinary Shares at a rate of 100 new Ordinary Shares per £1 loan note.

Consequently, a total of 34,940,711 new Ordinary Shares ('the Conversion Shares') will be issued pursuant to the Notices, following which £9,055,924 nominal convertible loan notes (including rolled-up interest) remain outstanding.

Admission and Settlement

Application has been made for the admission to trading on AIM of the Conversion Shares ('Admission'). Admission is expected to occur on 27 June 2016. Following Admission, Ascent will have 642,230,371 Ordinary Shares in issue. There are no shares held in treasury. The total voting rights in the Company is therefore 642,230,371 and Shareholders may use this figure as the denominator by which they are required to notify their interest in, or change to their interest in, the Company under the Disclosure and Transparency Rules.

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