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. 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 […]
Tag: Baron Oil plc
Baron costs rise in year of ‘considerable progress’
Baron Oil plc said it made considerable progress last year by increasing its stake in oil and gas licences in Timor Leste and the UK. FINANCES The company’s interests include Timor Leste TL-SO-19-16 – Chuditch (75%), UKCS P2478 – Dunrobin (32%) and Peru Block XXI – El Barco (100%). Baron Oil’s audited financial results for […]
Baron Oil raises £1.65m
Baron Oiplc said it had conditionally raised £1.65 million (before expenses) by way of a placing and subscription. The oversubscribed fundraise was for 2,750,000,000 new ordinary shares of 0.025p each at 0.06 pence per share. DIRECTOR PARTICIPATION Chief executive Andrew Yeo subscribed for 16,150,000 new ordinary shares at the issue price. Director Position New Ordinary […]
Baron Oil to relinquish legacy Peru block
Baron Oil plc today said it had requested the relinquishment of its legacy licence block XXI in Peru. OPPORTUNITIES The company added that since 2017 it had been frustrated in its attempts to access the area to carry out its operations. Baron previously set out four requirements necessary for its 100% subsidiary Gold Oil Peru […]
Baron Oil continues focus on Chuditch
Baron Oil plc said it would continue to focus on its existing operated Chuditch gas PSC following the end of the second licensing round in Timor-Leste. CHUDITCH PSC The company’s subsidiary, SundaGas Banda Unipessoal Lda had conducted a detailed evaluation of the offshore blocks available in the round before concluding to focus on Chuditch. The […]