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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Baron Oil Plc | LSE:BOIL | London | Ordinary Share | GB00B01QGH57 | ORD 0.025P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-0.009 | -9.47% | 0.086 | 0.085 | 0.09 | 0.1025 | 0.0825 | 0.1025 | 639,813,088 | 16:35:02 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Crude Petroleum & Natural Gs | 0 | -1.71M | -0.0001 | -9.00 | 17.08M |
8 February 2024
Baron Oil Plc
("Baron", or the "Company")
Completion of Farm-Up with TIMOR GAP
Further to the Company's announcements of 24 January 2024 and 1 February 2024, Baron Oil Plc (AIM: BOIL) is pleased to confirm that 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 completed.
As part of the Farm-Up arrangements, TIMOR GAP will make a cash payment to SundaGas of c.US$1 million to cover back costs within 30 days.
SundaGas retains operatorship of the Chuditch PSC and holds a 60% working interest. TIMOR GAP has a 40% interest, made up of a working interest of 15%, plus its original 25% interest which is carried to first gas. Henceforth, TIMOR GAP will be responsible for paying 20% of all costs in relation to the PSC, including the drilling of the planned Chuditch-2 appraisal well.
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
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