LONDON (Alliance News) - Baron Oil PLC said that Gold Oil Peru SAC, its local subsidiary, has confirmed the signing of formal environmental impact assessment governmental approval documents, meaning it can make an immediate start to further exploration activities on its Block XXI onshore Peru.
"Peru has a very diverse and environmentally sensitive ecological system and Baron Oil is conscious of that important fact and we respect the comprehensive work that is required by the Peruvian government in receiving the formal EIA approval. We now intend to move forward with our onshore seismic acquisition program in this under-explored area of our large onshore acreage. We will keep shareholders fully informed of our progress," Bill Colvin, chairman and chief executive, said in a statement.
Baron Oil shares were untraded at 0.8 pence Tuesday morning.
By Samuel Agini; samagini@alliancenews.com; @samuelagini
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Baron Oil (BOIL)