Ascent Resources PLC has announced that its Slovenian joint venture partner, Geoenergo d.o.o., has initiated insolvency proceedings. As a response, the company is working with its Slovenian lawyers on multiple fronts, including challenging the insolvency proposal, registering its significant creditor position with the courts, and potentially filing civil claims and initiating criminal charges against the directors and shareholders of Geoenergo. The company also plans to investigate the historical hydrocarbon revenues received by Geoenergo, which are now indisputably owed to Ascent Slovenia Limited (ASL) following a positive Arbitration Tribunal binding interim decision. An administrator for Geoenergo is expected to be appointed shortly, and the company will collaborate with the necessary authorities to evaluate any potential misappropriation of those revenues. Further announcements will be made as necessary.