We reiterate our Buy rating and 4.5p target price for Ascent Resources, following the news of first commercial gas production at the Petisovci field in Slovenia. The company has delivered against all the targets communicated six months ago, when funding was secured to progress the first phase field development. With a final confirmation of the IPPC permit expected later this year, Ascent can progress to the full field development, the unrisked NPV of which we estimate at roughly €200m, n
