RE: Dunrobin - Q4 reminder28 Nov 2022 10:55
Just a waiting game now patience is vital if you want a multibagger. Dunrobin up next.
Baron has a 32% interest in United Kingdom Offshore Licence P2478, in the Inner Moray Firth. Baron has the role of technical overseer of the remaining Phase A work commitments for this licence. The preliminary interpretation of the reprocessed 3D and 2D seismic data is largely complete with an increased confidence in the imaging of the reservoir targets within the previously recognised prospects on the licence. In addition, geochemical studies conclude that there is potential for developable oil quality within the licence area.
Baron previously announced that its internal estimates for the Dunrobin prospective complex contained approximately 100 MMbbl of gross Mean Prospective Resources*. The preliminary interpretation indicates that the western part of the complex (the "Dunrobin West" prospect) at the primary Jurassic target alone could contain 100 MMbbl of gross Mean Prospective Resources*. The Board believes that Dunrobin West is maturing to the stage where it is potentially a drillable prospect and so a potential target for an initial exploration well on the P2478 licence.
The Directors believe that success on an exploration well on Dunrobin West would de-risk follow up prospects Dunrobin Central, East and Golspie with the possibility of establishing the upside potential of a single Dunrobin accumulation. A secondary Triassic target is also being matured, involving an unproven (and therefore likely riskier) deeper reservoir, which the Directors consider provides significant additional resource potential and which may demonstrate higher oil quality preservation.
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