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 […]
Tag: Timor-Leste
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 […]
Baron pursues Chuditch-1 as losses double
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 […]
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 […]