16 May 2018 07:00
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.
16 May 2018
Baron Oil Plc
("Baron Oil" or "the Company")
OGA approval received for assignment of 15% interest in P2235 to Baron
Baron Oil (AIM: BOIL) is pleased to announce that it has been informed by Corallian Energy Limited, as operator of UK Seaward Production Licence P2235 (UKCS Block 11/24b), that the Oil & Gas Authority ("OGA") has approved the assignment to the Company of a 15% interest in this licence, which contains the Wick Prospect.
Malcolm Butler, Chairman & CEO of Baron Energy PLC, said:
"This approval enables Baron to formalise its 15% interest in the licence holding the Wick Prospect and become a full voting party under the Joint Operating Agreement, which is now being prepared and will govern operations on the licence."
For further information, please contact:
Baron Oil Plc | +44 (0)1892 838 948 |
Malcolm Butler, Chairman & Chief Executive Officer | |
SP Angel Corporate Finance LLP | +44 (0)20 3470 0470 |
Nominated Adviser and Broker | |
Lindsay Mair, Richard Hail, Richard Redmayne |
Baron Oil (BOIL)