Ascent Resources PLC has announced that its joint venture partner, Geoenergo d.o.o., has had its application to enter insolvency approved. This follows previous announcements regarding the partner's application for self-declared insolvency. The relevant court has canceled the hearing scheduled for February 23 and issued a resolution on the commencement of bankruptcy proceedings for Geoenergo d.o.o., appointing an administrator. Ascent Resources PLC is filing an appeal against the court's decision and will register its claim with the competent court while pursuing civil and criminal areas of redress against the former management and stakeholders of Geoenergo d.o.o. Further announcements will be made as necessary. For more information, inquiries can be directed to Ascent Resources PLC and its nominated adviser and broker, WH Ireland, as well as its joint broker, Novum Securities.