Ascent Resources PLC has announced that it has received a positive interim decision from an Arbitration Tribunal regarding its revenue recognition. The decision confirms that Ascent Slovenia Limited (ASL) is entitled to proceeds above the baseline production profile from all wells in the concession area. The arbitration hearing was against Geoenergo regarding the interpretation of the Restated Joint Operating Agreement (RJOA) and ASL's entitlement to production above the baseline production profile. The interim decision confirms that ASL's interpretation of the RJOA is correct, and it is entitled to a 90% share of the hydrocarbons produced above the baseline production profile from all wells, except for the Pg-1 well. This means that ASL will now receive ongoing monthly revenues from incumbent wells, in addition to the revenues it has been receiving from the PG-10 and PG-11A wells. The final award will be decided in the second stage of the arbitration process, which is expected to be completed by April 11, 2024. ASL estimates that the proceeds it is entitled to since December 2019 are likely to be in excess of €3.5 million.