Baron Oil Regulatory News (BOIL)

26 January 2022

Baron Oil Plc

("Baron" or the "Company")

Investor Presentation Today

Baron Oil Plc (AIM:BOIL), the AIM-quoted oil and gas exploration company, is pleased to confirm, as previously announced, that the Company's Chief Executive Andy Yeo, Technical Director Jon Ford and Andy Butler (Managing Director of SundaGas Banda, the Chuditch PSC Operator), will provide a live investor presentation today at 6.00 p.m. London time.

Presentation Highlights

The presentation will focus on the Company's PSC TL-SO-19-16, offshore Timor-Leste (the "Chuditch PSC"), in which Baron holds a 75% working interest and is operator. A copy of the presentation will shortly be available on the Company's website at:

https://www.baronoilplc.com/investors/reports-presentations/

The presentation includes an updated technical overview, a description of the overall commercial context, potential options for future gas export and strategies for the handling of carbon dioxide and CCS (carbon capture and storage). It highlights, inter alia:

• Chuditch is believed to be a substantial gas discovery on a proven trend with upside

• LNG (liquified natural gas) is viewed by the Company as a critical ingredient in Asia's energy transition away from coal balanced with its requirements for stable energy supplies

• 3D Seismic reprocessing and other studies are progressing well

• final 3D PSDM (pre-stack depth migration) data on track for delivery in Q2 2022

• Q4 2022 decision point for potential high impact drilling in 2023

• A preliminary design for a Chuditch appraisal well

• Multiple export solutions for gas have been identified which are not dependent on any single concept/route 

• Pipeline to LNG production facility

• Beaço LNG via Greater Sunrise

• Darwin LNG via multiple pathways

• Standalone solutions

• Floating LNG

• Fixed Platform LNG

• CNG (compressed natural gas)

• Development strategies for handling carbon dioxide include Carbon Capture and Storage (CCS) at Bayu Undan and potential CCS solutions within the PSC

• The Company continues to evaluate options to secure investment for appraisal drilling. As part of this initiative, it commenced a farmout process in September 2021 and is currently in contact with multiple potentially interested parties

Live Presentation

The presentation at 6.00 p.m. is open to all existing and potential shareholders. Those wishing to attend should register via the following link after which they will be provided with log in details:

https://us02web.zoom.us/webinar/register/WN_LAznTXlvSYeoOxGxSc0_3w

There will be the opportunity for participants to ask questions at the end of the presentation. Questions can also be emailed to baronoil@investor-focus.co.uk up to 4.00 p.m. London time today.

Qualified Person's Statement

Pursuant to the requirements of the AIM Rules - Note for Mining and Oil and Gas Companies, the technical information contained in this announcement has been reviewed by Jon Ford BSc, Fellow of the Geological Society, Technical Director of the Company. Mr Ford has more than 40 years' experience as a petroleum geoscientist. He has compiled, read, and approved the technical disclosure in this regulatory announcement.

For further information, please contact: