Baron Oil PLC Completion of Earn In to Chuditch PSC (3714W)
April 23 2021 - 2:00AM
UK Regulatory
TIDMBOIL
RNS Number : 3714W
Baron Oil PLC
23 April 2021
Baron Oil Plc
("Baron" or the "Company")
Completion of Earn In to Chuditch PSC
Baron Oil Plc (AIM:BOIL), the AIM-quoted oil and gas exploration
company, is pleased to announce the completion of its Earn In for
an increased interest in the Chuditch discovery and prospects.
Baron has increased its shareholding in SundaGas (Timor-Leste
Sahul) Pte. Ltd ("SundaGas TLS") from 33.33% to 85%, and thereby
increased its indirect interest in the TL-SO-19-16 PSC (the
"Chuditch PSC" or the "PSC"), offshore Democratic Republic of
Timor-Leste ("Timor-Leste") from 25% to 63.75% (the "Earn In").
Andy Yeo, CEO of Baron commented...
"We are delighted that the Earn In arrangements have now been
completed with the issue of new shares in SundaGas TLS to Baron and
that the Company has secured a materially increased interest in the
Chuditch PSC project. Everything is in place to allow SundaGas
Banda to undertake the PSC technical work programme activities,
especially the critical 3D seismic reprocessing. These works will
enable an up-to-date assessment of the true potential of the
Chuditch discovery and of the viability of drilling an appraisal
well and further exploration wells in a timely manner."
For further information, please contact:
Baron Oil Plc +44 (0) 20 7117 2849
Andy Yeo, Chief Executive
Allenby Capital Limited +44 (0) 20 3328 5656
Nominated Adviser and Joint Broker
Alex Brearley, Nick Harriss, Nick Athanas (Corporate
Finance)
Kelly Gardiner (Sales and Corporate Broking)
Turner Pope Investments (TPI) Limited +44 (0) 20 3657 0050
Joint Broker
Andy Thacker
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
UPDUUUBRAAUSUAR
(END) Dow Jones Newswires
April 23, 2021 02:00 ET (06:00 GMT)
Sunda Energy (LSE:SNDA)
Historical Stock Chart
From Jul 2024 to Jul 2024
Sunda Energy (LSE:SNDA)
Historical Stock Chart
From Jul 2023 to Jul 2024