Member Info for nlmbidc

Indeed. Good luck everyone.

On a new non exec director and El barco partner.

A couple of weeks away yet.

A lot of the share trading today were bed and ISA's. Therefore they appear to be sells but are actually sells followed by buys to get them into the ISA's.

7 March 2016   Baron Oil plc ("Baron " or "the Company")   Block XXI Peru Seismic interpretation and extension of licence period   The Board of Baron Oil plc is pleased to announce that the recently acquired 2D seismic data on the 100% owned Block XXI onshore Peru has now been processed by GSS and analysed by the company and its consultants.   The seismic data has produced some encouraging results and the Company representatives met with Perupetro in Lima on 3 March to review these results and inform Perupetro that we will extend the licence period for a further 18 months and also relinquish 20% of the licence area as required under the terms of our exploration contract.   The seismic data and subsequent analysis has shown several interesting indicators:   ·     located to the north east of the original Minchales well bore there appears to be a small gas accumulation of up to 5bcf in sands at around 4,425 feet subsurface. ·     perhaps more significantly, the seismic data clearly shows several gas chimneys which we believe are the source of a 10 ft gas zone identified in a shallow sand at 2,535 feet subsurface in the original Minchales well and the apparent accumulation to the north east. We believe that gas is leaking up from fractured basement rock at around 6,000 feet subsurface, causing the gas chimney effect.  Gas shows were encountered in the electric logs at the igneous basement level at the bottom of the original Minchales well.

Needs drilling news - not just hope.

Always are. Because you are selling and buying the margin is much lower and comes in lower than the average buy/sell price.

I agree. I have stayed well clear.

Reabold resources continue to suggest Q2 drilling. Https://reabold.com/investor-relations/faqs/

Due in half an hour.........

If everything comes in - including SE Asia, I have a target price of 10P by the end of the year. Having said that, if there is no news before easter it will drop down in the short term. As the CEO is in Peru I am obviously hoping for the news update. Colter news could be very soon too.

Couldn't agree more. Hopefully we will get ate for drilling El Barco and Colter in the next week or two. Followed by SE Asia news.

That's all we need to get this £500 million project going.

We will have to see on Z34. I don't think Tullow will touch it until infrastructure is really well established in Peru. At least 18 months away.

I agree Ben

Why the exodus?

Likely update on El Barco soon. CEO in Peru tomorrow according to comments on ADVFN. Hopefully progress will be made on preparing the drill site and news of farm-in being signed. Perhaps by the end of March.

The presentation does not seem to have introduced a stream of buyers......

Price holding up well despite the sellers.

You could be right, but the CEO is going to Peru later this month, hopefully to get a farm-in partner signed up and the well site prepared. The original blocker was a punitive tax levied which would have made drilling un-viable. I believe that issue is now resolved. hopefully we will hear more about this at next week weeks presentation or by the end of the month following the visit.