Member Info for Jarv55

Would be great if they can get both of theses assets sold off at the same time then move onto the next ones they are bringing in.
"2023 will be an important year for Baron. We have two significant sized assets available for farmout - Chuditch (Mean gross Prospective Resources in excess of 500 MMboe*) and Dunrobin (of the order of 100 MMbbl oil Mean gross Prospective Resources*) - which each have similar pathways to their respective next value points. A successful appraisal well on the Chuditch-1 discovery could test approximately 1.35 TCF of Recoverable Gas Resources** which may be sufficient to determine commerciality, and a successful exploration well on Dunrobin West could test more than 100 MMbbl Mean oil gross Prospective Resources* from the primary Jurassic target and would also de-risk potential follow ups on Dunrobin Central, East and Golspie analogous prospects. Today's oversubscribed Placing provides us with the necessary funds to maximise the chances of delivering funding partners for drilling campaigns on both of these assets."

It is proposed that approximately 45% of the net proceeds of the Placing and Subscription will be applied towards covering the Company's general and administrative expenses (approximately £0.9m) and other related working capital (approximately £1.3m). Depending on the outcome of the farmout discussions and potential new venture activity, the usage of other related working capital may change markedly. The last sentence is the interesting part for me.

I think Upl is worth a punt

Timeline for news now
Crunch meeting to take place for Dunrobin, we know they are already in talks for a farm in, hence some of the raise will be going on that for Boils interest. 3d results due in with a step change the same ad Chuditch.
We could get an update from TL before December on Sunrise.
Then we have the Cpr due in january with gives contigent results for the Chuditch 1 this is what the companies in the data room are waiting for.
If they like what they see then we get a Jv I do think Boil will take part in that and think Eni and Santos will be involved.
We then have further 3d to do for Chuditch NE which is being touted as another Chuditch 1.
I do epxect Baron to prove it up further then sell it on. The way the rns is worded Dunrobin will be moving first and that is another play that could be a lot bigger than we think. Would like to know who the European player is who is involved with that. Then we have the 33rd licencing round so we should find out in January what licences they have gone with and who they partenered with on that. Also we have possible new acquisitions coming in for the Uk all news for a solid investment. I am not here for a day trade like some will sell eventually but defo not until these news items come out.

Rbd meeting was at 10am they should know the results now.

At least after today BOil and Upl will be able to move forward with a meeting for Dunrobin looking forward to seeing how big the step change is there.

I get the impressions the Rbd managment are very self serving have drawn huge wages and defo sold Victoria on the cheap however not sure its wise to change management mid negotiations. I am sure Andy Butler won't be selling our assets for peanuts.

You would think Timorgap would cover Chuditch too

Rbd meeting today

Depends who your broker is

The placees arre now on a T9 to pay for the shares so short will be closing and will push the price back up. Never know when news will land either but I don't expect it until after the 29th.

Skippy this is how it works the city offer the company money on good news, the price gets ramped up, people forward sell the shares to the mms, the mms use those shares to short, the ones that are taking the placing who ramped it up are quids in, they then short with the mms. You pay for a placing on a T20 the shorts that didn't forward sell can use the profits from the short to buy the placing shares.

Rbd meeting tomorrow to decide if management get kicked out or not, then hopefully Baron, Rbd and Upl can get on with Dunrobin.

Who took these? and a subscription of 81,345,000 new Ordinary Shares (the "Subscription Shares"

The Fundraise comprises a placing of 4,085,321,667 new Ordinary Shares (the "Placing Shares") and a subscription of 81,345,000 new Ordinary Shares (the "Subscription Shares") and up to 833,333,333 REX Retail Shares (together the "Fundraise Shares") at the Issue Price. The Fundraise Shares are to be issued pursuant to the authorities granted to the Board at the Company's annual general meeting held on 28 June 2022 on a non-pre-emptive basis. Completion of the REX Retail Offer is conditional, inter alia, upon on completion of the Placing and Subscription. Completion of the Placing and Subscription is not conditional on the completion of the REX Retail Offer.

The Company also announced that reservoir consultancy group ERCE had been engaged to prepare a Competent Person's Report ("CPR") to provide an independent validation of Baron's internal resource estimates for the Chuditch PSC to a SPE PRMS compliant standard.

So they hire a resevoir engineer with an amazing CV
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.

Hfb have you seen this guys CV? Quite interesting https://www.linkedin.com/in/keith-bush-0192844/?originalSubdomain=uk

No surprise placing over subscribed and given away on the cheap, shorters closing to fund the placing.

Shouston just to make it clear I never booted you from the TG group