Baron Oil PLC Award to SundaGas of Chuditch PSC, Timor-Leste (8317S)
08 Noviembre 2019 - 6:00AM
UK Regulatory
TIDMBOIL
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
(END) Dow Jones Newswires
November 08, 2019 07:00 ET (12:00 GMT)
Baron Oil (LSE:BOIL)
Gráfica de Acción Histórica
De Mar 2024 a Abr 2024
Baron Oil (LSE:BOIL)
Gráfica de Acción Histórica
De Abr 2023 a Abr 2024