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Netherlands Ascent stake: 27% Gas
Project Background Partners 73%
  • 2007: Ascent identifies five prospects on its M8, M10 and M11 acreage which include two gas discoveries in the M11-1 and M10-1 wells and three moderate risk exploration prospects known as Minotaur, Poseidon and Olympus.
  • October 2006 - Joint Venture awarded exploration licences covering total of 795 sq. km by the Dutch Government, following technical evaluation by Ascent and its partner company GTO.
  • Technical work focused on the traditional Rotleigendes plays which have been overlooked by previous operators. Gas was discovered within the M11 permit in 1982 and tested at a rate of 6,600 cubic metres per day (233 Mscfd).
  • Canada's McLaren Resources Inc farmed into the Netherlands licences following the licence applications and will pay 62.5% of Joint Venture costs for 45% stake. GTO acquires 814,941 shares under terms of previous Joint Venture.
  • April 2005 - Ascent Resources takes 90% stake in Joint Venture with GTO covering onshore and offshore gas exploration in the Dutch sector of the North Sea. GTO provides exploration personnel with local expertise.

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    Southern North Sea gasfields and undeveloped reservoirs in Dutch sector

    Exploration and appraisal well completions in the Netherlands: 1980 - 2004

    Regional seismic cross section over Ascent M8, M10 & M11 blocks, offshore Netherlands

    3D view of the M11-1 faulted structure which tested gas in Ascent operated block M11 offshore Netherlands

    Structural model offshore Netherlands