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30 Apr, 2021 16:01

Ascent Resources gets six-month extension to Cuba agreement

oilfield

Onshore Caribbean, Latin America and Europe-focussed energy and natural resources company Ascent Resources announced on Friday that it has agreed a six-month extension to its memorandum of understanding with CUPET, the Cuba national oil company.

The AIM-traded firm said the memorandum gives it the exclusive right to negotiate production sharing contracts for the onshore producing block 9B and onshore exploration blocks 9A, 12 and 15.

“The memorandum of understanding extension follows delays in the country as a result of Covid-19 protection and isolation measures that were successfully implemented in Cuba,” the board said in its statement.

At 1355 BST, shares in Ascent Resources were down 0.93% at 5.35p.


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Pilling and Co Stockbrokers Ltd. is not responsible for the content or accuracy of third party news articles and we may not share the views of the author or publisher.

We provide third party news for your convenience and information only and make no representation or endorsement whatsoever and hereby exclude all liability for any loss or damage that may be incurred by you as a result of your access or use. Please note that third party content may be subject to terms and conditions imposed by the third party owner of that content.