News Oil & Gas

Baron relinquishes Peru legacy asset

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Baron Oil plc said it had relinquished its legacy licence Block XXI – El Barco in Peru and had its US$160,000 bank guarantee returned.

Subsidiary: Gold Oil Peru SAC will work with the Peruvian authorities (Baron Oil)

ABANDONMENT

The company’s decision followed frustrated attempts to access the area to conduct operations.

Baron Oil added that it would, through its subsidiary Gold Oil Peru SAC, work with the Peruvian authorities to establish and file an abandonment plan.

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