RE: Boil Potential2 Feb 2024 06:27
Environmental Approvals Progress
Baron's wholly owned subsidiary and operator of the PSC, SundaGas Banda Unipessoal, Lda ("SundaGas") has achieved the first step of three in securing environmental approvals for the drilling and testing of an appraisal well on the Chuditch field. The Timor-Leste government regulator for oil and gas, Autoridade Nacional do Petróleo ("ANP"), has issued a project classification (Drilling activity - Category A) following its assessment of the Project Document that describes the asset and project plan. Having passed this milestone, ANP has now requested SundaGas to proceed to the next step in the process, which is submission of a Terms of Reference, including initial public consultations.
Drilling Planning Progress
In its announcement and website presentation of 11 October 2023, the Company provided detailed information on the selected location for the Chuditch-2 appraisal well, the drilling of which is subject to financing. Good progress has continued to be made in preparation for the drilling campaign. SundaGas, its joint venture partner TIMOR GAP Chuditch Unipessoal Lda ("TIMOR GAP") and ANP recently held the first of a number of workshops to collaborate on planning for drilling operations. All aspects of the preliminary operational plans were reviewed, including provisional well designs, detailed procurement procedures and health, safety and environmental planning. The next workshop is scheduled for mid-December 2023.
At that meeting there was a slide with details of Baron possibly using the Valarius drill this year which is contracted by Inpex. Think that will be dependeat on Eog who are also planning to use it. Our drill is only a three to four week drill so we could be done and dusted before the end of the year. I would expect Inpex Eni and Santos to be in the data room.
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