RE: Monday heads up, area TL News22 Oct 2023 17:01
The assignment of Contingent Resources to the Chuditch-1 discovery, built on the extensive technical studies completed by the Company, sets the foundation for the next stage of the project cycle. This phase would typically include an appraisal well, pre-feasibility studies, Environmental Impact Assessment planning, and preliminary work on gas sales arrangements. Management believes that the Chuditch-1 Pmean Contingent Resources, now independently assessed, are likely to be sufficiently large to be economically viable to be developed standalone or in parallel with other developments in the region.
In relation to drilling planning, Baron has recruited a Well Operations Manager and scheduled planning workshops with government regulator ANP and joint venture partner TIMOR GAP. Baron is also in discussions with other regional operators to identify potential logistical and operational cost-saving synergies, and has submitted first phase documentation to ANP for environmental permits.
Chuditch - BlockP -Sunrise do they plan to use the same pipe? has the well location at Chuditch been chosen to coincide with a partnership with Eni and Woodside to reduce costs?