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Pin to quick picksBaron Oil Regulatory News (BOIL)

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Award to SundaGas of Chuditch PSC, Timor-Leste

8 Nov 2019 12:00

RNS Number : 8317S
Baron Oil PLC
08 November 2019
 

Market Abuse Regulation (MAR) Disclosure

Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.

 

8 November 2019

 

 

Baron Oil Plc

("Baron" or "the Company")

 

Award to SundaGas of Chuditch PSC, offshore Timor-Leste

 

Baron Oil Plc, the AIM quoted oil and gas exploration and production company focused on opportunities in the UK, Latin America and SE Asia notes the provisional award on 8 November 2019 of the Timor-Leste offshore Chuditch Petroleum Sharing Contract (the "Chuditch PSC") by Autoridade Nacional do Petróleo e Minerais ("ANPM") to SundaGas Banda Unipessoal, Lda. ("SundaGas UL") a subsidiary of SundaGas Pte Ltd ("SundaGas"). The award will give SundaGas UL a 75% interest in the Chuditch PSC, with a carried 25% interest being held by TIMOR GAP, E.P. the national oil company of Timor-Leste. The PSC does not become effective until certain conditions have been fulfilled, including the posting of a Performance Bond

As shareholders will be aware Baron is entitled to be issued a 33.3% shareholding in the intermediate parent company of SundaGas UL. The Company is awaiting the full details of the PSC that was signed today and shareholders will be updated accordingly.

Dr Malcolm Butler, Executive Chairman of Baron, commented:

"Baron's entitlement to shares in the intermediate parent of SundaGas UL has the potential to add significant value to Baron and its shareholders. We look forward to receiving details of how SundaGas intends to move forward with this exciting project."

For further information, please contact:

 

Baron Oil Plc

+44 (0)20 7117 2849

Malcolm Butler, Executive Chairman

 

Andy Yeo, Managing Director

 

 

 

SP Angel Corporate Finance LLP

+44 (0)20 3470 0470

Nominated Adviser and Joint Broker

 

Stuart Gledhill, Richard Hail, Richard Redmayne

 

 

 

 

 

Turner Pope Investments (TPI) Limited

+44 (0)20 3621 4120

 

Joint Broker

 

 

Andy Thacker

 

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
 
END
 
 
MSCEAFFPESSNFFF
Date   Source Headline
28th Mar 20247:00 amRNSUK Licence P2478 Update
27th Mar 20248:00 amRNSUpdate on Chuditch PSC Operations and IR Materials
15th Mar 202412:00 pmRNSChanges to Board of Directors
29th Feb 20245:00 pmRNSTotal Voting Rights
16th Feb 20247:00 amRNSResult of WRAP Retail Offer & Result of Fundraise
15th Feb 20245:01 pmRNSWRAP Retail Offer
15th Feb 20245:00 pmRNSPlacing and Subscription to raise £3 million
8th Feb 20247:00 amRNSCompletion of Farm-Up with TIMOR GAP
1st Feb 202410:14 amRNSFarm-Up with TIMOR GAP becomes Unconditional
24th Jan 20247:00 amRNSFarm-Up Signed with Timor Gap
18th Dec 20237:00 amRNSMOU signed for Chuditch Farm-Up with Timor Gap
5th Dec 202310:07 amRNSChuditch PSC Update – 6 Month Extension Granted
30th Nov 20237:00 amRNSChuditch Operational Planning Update
13th Nov 20233:30 pmRNSChange of Joint Broker
11th Oct 20237:00 amRNSPlanned Chuditch-2 Appraisal Well Location
25th Sep 20237:00 amRNSInterim Results
12th Jul 20237:00 amRNSUK Licence P2478– 2 Year Phase A Extension Granted
3rd Jul 20237:00 amRNSDirector Appointment
29th Jun 202312:46 pmRNSResult of AGM
29th Jun 20237:00 amRNSAGM Statement
19th Jun 20237:00 amRNSProposed appointment of Director
9th Jun 20237:00 amRNSChange of Adviser
8th Jun 20237:00 amRNSOnline Investor Q&A
2nd Jun 20237:00 amRNSChuditch PSC Update – 6 Month Extension Granted
23rd May 20237:00 amRNSFinal Results for the Year Ended 31 December 2022
27th Mar 20234:35 pmRNSPrice Monitoring Extension
28th Feb 20235:00 pmRNSTotal Voting Rights
28th Feb 202311:05 amRNSSecond Price Monitoring Extn
28th Feb 202311:00 amRNSPrice Monitoring Extension
28th Feb 20239:05 amRNSSecond Price Monitoring Extn
28th Feb 20239:00 amRNSPrice Monitoring Extension
28th Feb 20237:00 amRNSCompetent Person's Report on the Chuditch PSC
20th Feb 20231:06 pmRNSExercise of options and total voting rights
16th Feb 20237:00 amRNSCompetent Person's Report on UK Licence P2478
15th Feb 20234:35 pmRNSPrice Monitoring Extension
15th Feb 20231:24 pmRNSHolding(s) in Company
15th Feb 202310:20 amRNSHolding in Company
14th Feb 20234:40 pmRNSSecond Price Monitoring Extn
14th Feb 20234:35 pmRNSPrice Monitoring Extension
14th Feb 20232:48 pmRNSHolding(s) in Company
25th Jan 202311:05 amRNSSecond Price Monitoring Extn
25th Jan 202311:00 amRNSPrice Monitoring Extension
23rd Jan 202311:05 amRNSSecond Price Monitoring Extn
23rd Jan 202311:00 amRNSPrice Monitoring Extension
20th Jan 202311:05 amRNSSecond Price Monitoring Extn
20th Jan 202311:00 amRNSPrice Monitoring Extension
19th Jan 20237:00 amRNSUK 33rd Offshore Licensing Round and Asset Update
21st Dec 20221:40 pmRNSHolding(s) in Company
1st Dec 202211:06 amRNSSecond Price Monitoring Extn
1st Dec 202211:00 amRNSPrice Monitoring Extension

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