Baron Oil plc raised £3.26 million via a placing, subscription and retail offer of a total 6,528,023,360 new ordinary shares of 0.025p each in the company, at 0.05 pence per new ordinary share. DIRECTORS’ DEALINGS The oversubscribed placing and subscription conditionally raised net proceeds of £2.7m for 6bn new ordinary shares. Chief executive officer Andrew Yeo subscribed for 12m […]
Tag: Baron Oil plc
Baron plans site surveys for Chuditch-2
Baron Oil plc expects to conduct site surveys during February and March at the planned drill location for the Chuditch-2 appraisal well, offshore Timor Leste. COSTS The surveys will identify potential hazards at the proposed well site to ensure minimal environmental impact when locating a drilling rig can be safely located on the TL-SO-19-16 production […]
Baron signs farm-up for Chuditch PSC
Baron Oil plc’s subsidiary has signed the farm-up agreement for the TL-SO-19-16 Chuditch production sharing contract, offshore Timor-Leste. OPERATIONS The contract between SundaGas Banda Unipessoal Lda and national oil and gas company TIMOR GAP Chuditch Unipessoal Lda follows December’s memorandum of understanding and now needs only regulatory approval. Planned operations remain drilling and flow testing […]
Baron signs MoU for 15% Chuditch farm-up
Baron Oil plc has entered a proposed 15% working interest farm-up for the Chuditch production sharing contract, offshore Timor Leste. COSTS The company’s subsidiary SundaGas Banda Unipessoal Lda signed a memorandum of understanding with the country’s national oil and gas company TIMOR GAP Chuditch Unipessoal Lda. SundaGas will retain operatorship and hold a 60% working […]
Baron Oil extends Chuditch-2 drilling schedule
Baron Oil plc’s subsidiary has secured a six-month extension to the production sharing contract ahead of committing to drilling the Chuditch-2 appraisal well, offshore Timor-Leste. PREPARATIONS The PSC for the company’s wholly owned subsidiary and operator SundaGas Banda Unipessoal Lda now ends on 18 June 2024. A formal decision on whether to enter the drilling phase for […]
Baron Oil secures first step to drill-test Chuditch-2
Baron Oil plc has secured the first step for approval to drill and test the Chuditch-2 appraisal well planned for late 2024 offshore Timor-Leste. PREPARATIONS The company’s wholly owned subsidiary SundaGas Banda Unipessoal Lda, which operates the TL-SO-19-16 production sharing contract, will now submit a terms of reference including initial public consultations. This forms the […]