Baron Oil PLC Wick Rig Site Survey Completed (9438A)

TIDMBOIL

RNS Number : 9438A

Baron Oil PLC

17 September 2018

Market Abuse Regulation (MAR) Disclosure

Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.

17 September 2018

Baron Oil Plc

("Baron Oil" or "the Company")

Wick Prospect: Rig Site Survey Completed

Baron Oil (AIM: BOIL) is pleased to note that Corallian Energy Limited ("Corallian"), operator of UK Seaward Production Licence P2235 (Block 11/24b) containing the Wick Prospect, has confirmed the successful completion of the rig site survey over the proposed location of the Wick exploration well.

Corallian expects drilling of the Wick well to take place in Q4 2018, once outstanding regulatory approvals and consents have been received. Baron Oil holds a 15% interest in Licence P2235.

Malcolm Butler, Chairman & CEO of Baron Oil Plc, said:

"The rig site survey is a necessary preliminary step to ensure the placement of the jackup rig on a stable seabed. The Wick well is currently planned to be the first in our two well Q4 programme offshore UK, subject to the timing of receipt of the necessary regulatory approvals. We look forward to updating the market on an exciting few months ahead."

For further information, please contact:

 
                                                     +44 (0)1892 838 
Baron Oil Plc                                         948 
Malcolm Butler, Chairman & Chief Executive Officer 
 
SP Angel Corporate Finance LLP                       +44 (0)20 3470 0470 
Nominated Adviser and Broker 
Lindsay Mair, Richard Hail, Richard Redmayne

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September 17, 2018 03:00 ET (07:00 GMT)

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