1
February 2024
Baron Oil
Plc
("Baron", or the
"Company")
Farm-Up with TIMOR GAP becomes
Unconditional
Further to the Company's announcement
on 24 January 2024, Baron Oil Plc (AIM: BOIL) is pleased to confirm
that, following approval of the Farm-Up by Timor-Leste's National
Petroleum Authority (Autoridade Nacional do Petróleo or "ANP"), the
Condition Precedent has been satisfied.
Accordingly, the Farm-Up Agreement
between Baron's wholly owned subsidiary SundaGas Banda Unipessoal,
Lda. ("SundaGas") and TIMOR GAP Chuditch Unipessoal Lda ("TIMOR
GAP") in relation to the TL-SO-19-16 Production Sharing Contract
(the "Chuditch PSC" or the "PSC"), offshore Democratic Republic of
Timor-Leste, has now become unconditional.
Completion of the Farm-Up will occur
in due course.
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, George
Payne (Corporate Finance)
Kelly Gardiner, Stefano Aquilino
(Sales and Corporate Broking)
Cavendish Capital Markets
Limited
+44 (0) 131 220 6939 / +44 (0) 207 397
8900
Joint
Broker
Neil McDonald, Pearl Kellie
(Corporate Finance)
Leif Powis (Sales)
IFC
Advisory
Limited
+44 (0) 20 3934 6630
Financial PR and
IR
baronoil@investor-focus.co.uk
Tim Metcalfe, Florence
Chandler