Ascent Resources PLC has announced a material upgrade to its estimate of the proceeds it is entitled to from a recent positive arbitration interim award. The company has received historic production data, which has allowed it to calculate the proceeds it is entitled to from October 2019 to February 2023. Based on this data, the company is upgrading its forecasted revenue award to approximately €8 million, up from the previous guidance of over €3.5 million. However, the final decision of the arbitration panel is still pending, and there is no certainty of the amounts claimed being awarded or the counterparty having the immediate funds to make payment. The final arbitration decision is expected to include a court enforceable order for payment, which is anticipated to be towards the end of Q1 2024. Further updates will be provided in due course.