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I'm only speculating but strategically, you wouldn't announce any good news before the extension was granted - because that might make it less attractive to the licensor to grant. Likewise, you wouldn't announce any good news with the announcement of the extension because that would embarrass the licensor. Just my opinion.
It's not over yet
Absolutely ****e
Got a spike
Good move Ohmi
Well I just thought what the hell and sold some elsewhere at a loss but where I had more invested than I was comfortable with anyway and put it here. Only 200835 to give a nice round 420k shares. Still above 0.1 average mind, 0.121 now, but hey ho. Shoulda top sliced on the massive spike ages ago.
You live and learn, GLA.
BOIL holds a 33.33% indirect interest in a massive GAS reserve worth multiples its MCAP - many many multiples:
https://www.baronoilplc.com/wp-content/uploads/2020/02/Shell-analysis-of-Chuditch-potential.pdf
Let’s hope people will buy this dog
Very true... oil is on the up, and likely test new highs by 2022.
Was beginning to wonder if my 2 top-ups this morning should have been placed elsewhere... And then we breached 0.1p. Almost feeling optimistic about this one, finally!
GLA....
Beat me to it therOxbury, I was just about to comment that. My .137 average is asking to come down but I just drained all my funds on buying a much needed new mountain bike to replace the old workhorse that was outright dangerous. Asset rich but capitol poor, that is the one sentence description for my experiance of investing for these past years lol. Still to play for here though and with the Timor summit coming up this RNS could be just a wee bit of a nudge to the market from the BOD that there is large potential upside here.
Excellent news. This should see some big money piling in here now. MC just £2m.
Always encouraging when they say they are "delighted to announce"
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF REGULATION 11 OF THE MARKET ABUSE (AMENDMENT) (EU EXIT) REGULATIONS 2019/310.
26 February 2021
Baron Oil Plc
("Baron" or the "Company")
Extension Request for the Chuditch PSC Approved
Baron Oil Plc (AIM:BOIL), the AIM-quoted oil and gas exploration company, is delighted to announce that SundaGas Banda Unipessoal Lda. ("SundaGas"), in which Baron is an indirect 33.33% shareholder and which operates the TL-SO-19-16 PSC (the "Chuditch PSC") in Timor-Leste, has been granted a 12-month extension to Contract Year 1 of the Chuditch PSC. Accordingly, the new expiry date of Year 1 of the 3 year initial licence phase ("Initial Period") is now 8 November 2021.
This extension to the PSC timeline comes alongside significant progress being made towards resolving issues around data access which is expected to allow SundaGas to be able to complete the commitment work programme in a timely manner.
Andy Yeo, Chief Executive of Baron Oil, Commented:
"We are delighted that SundaGas has been able to get the Chuditch project back on track, with Baron's support and in collaboration with ANPM. We look forward to updating shareholders as we move forward with this exciting and material investment."