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Ascent starts gas production at PEN-104, Hungary

AIM-listed oil and gas explorer Ascent Resources Plc has started gas production at the PEN-104 well in the Penészlek area of the Nyírség permits in Hungary.

The production rate of the well is currently 48,000 cubic meters of gas a day, which will gradually be increased over the next few days to a target of 85,000 cubic meters per day, the company said.

Ascent holds a 45% stake in the Penészlek project. (Reuters)