According to official reports in late-April 2020, Ascent Resources has signed a Memorandum of Understanding (MOU) with national oil company CUPET for a six-month exclusive rights to negotiate multiple Production Sharing Contracts (PSC) over the onshore areas of Blocks 9a, 12, and 15. The company has previously acquired the same rights of negotiation for nearby Block 9b when it acquired a UK company Energetical Limited earlier in the same month. All of the blocks are situated on the onshore part of North Cuban Province Basin.  Background Information   Ascent Resources is a UK-based oil and gas company with focus of activity on a tight gas project in Slovenia prior to its recent acquisitions of assets in Cuba.
Ascent Resources has signed a Memorandum of Understanding (MOU) with national oil company CUPET for a six-month exclusive rights to negotiate multiple Production Sharing Contracts (PSC) over the onshore areas of Blocks 9a, 12, and 15.