Baron Oil plc has doubled losses while remaining focused on appraising the Chuditch gas discovery in Timor-Leste and expanding its operations. DRILL DECISION Six months to 30 June resulted in a net loss of £847,000 (H1 2022: net loss of £419,000). Administrative expenses rose to £778,000 (£497,000) and operating losses increased to £925,000 (420,000). Available cash nearly doubled […]
Tag: Baron Oil plc
Reabold granted more time for Dunrobin-Golspie
Reabold Resources plc has been granted a further two years for the joint venture Innovate licence P2478 containing Dunrobin and Golspie prospects in the northern North Sea. PHASE A The UK North Sea Transition Authority granted the extension to Phase A with a drill decision on or before 14 July 2025. Reabold, with a 36% […]
Baron proposes Andrew Butler as director Asia Pacific
Baron Oil plc proposes to appoint of Dr Andrew (Andy) Butler to the board as director Asia Pacific, expected to be effective from 1 July 2023. Dr Butler has more than 27 years’ experience in the oil and gas sector and is the chief executive officer of SundaGas Pte Ltd which he co-founded in […]
Baron granted more time for Chuditch decision
Baron Oil plc plc has received a six-month extension for preparations before deciding whether to drill an appraisal well on the TL-SO-19-16 ‘Chuditch’ production sharing contract (PSC), offshore Timor-Leste. EVALUATIONS The new expiry date of 18 December 2023 has been given to the company’s subsidiary and operator SundaGas Banda Unipessoal Lda. A subsequent commitment, on […]
Baron Oil marks year of ‘considerable progress’
Baron Oil plc increased its cash reserves in year of considerable progress from its assets in Timor-Leste and the UK. FINANCES Audited financial results for the year ended 31 December 2022 showed cash reserves of the Group had increased to £5,807,000 from a level at the preceding year end of £1,650,000. Pre-tax losses increased slightly […]
Baron receives £62,500 via options exercise
Baron Oil plc received £62,500 following the exercise of options to subscribe for 62,500,000 new ordinary shares of 0.025p each in the company. The options were originally granted to a previous director of the company and have an exercise price of 0.1p per new ordinary share. On admission, Baron’s issued ordinary share capital will consist […]