Ascent Resources announced on 14 April 2020 the acquisition of Energetical Limited, a UK company. It will issue six million new ordinary shares to the selling shareholders and pay USD 566,718 (Â£450,000) upon execution of the Production Sharing Contract (PSC) for the onshore Block 9B with CUPET. Energetical has a Memorandum of Understanding (MOU) with the NOC for the PSC, but not official date as to when it will be signed has been announced. The operator is currently in negotiations with CUPET to participate in more onshore blocks, more details have not been released.    Block 9B: holds fields      Majaguillar and San Anton, located on the North coast of Cuba, some 120 km      East of Havana and currently produces 190 bbls/d gross from three wells,      eight have been drilled, another three wells are shut in due to the lack      of basic equipment such as pumps. Part of the wells have deteriorated with      age due to old completion techniques and lack of investment. Wells have      not produced any water and no oil water contact has been found.    According to the press release, the operator evaluated that the addition of basic equipment and reservoir management will improve recovery rates. Possibly new deviated wells in the crest of the fields could flow around 1,000 bo.d. There are no plans for seismic, and not need is foreseen.
Ascent Resources announced on 14 April 2020 the acquisition of Energetical Limited, a UK company. It will issue six million new ordinary shares to the selling shareholders and pay USD 566,718 (Â£450,000) upon execution of the Production Sharing Contract (PSC) for the onshore Block 9B with CUPET. 