Farm-Up with TIMOR GAP becomes Unconditional

Baron Oil PLC

01 February 2024

 

1 February 2024

Baron Oil Plc

("Baron", or the "Company")

Farm-Up with TIMOR GAP becomes Unconditional

Further to the Company's announcement on 24 January 2024, Baron Oil Plc (AIM: BOIL) is pleased to confirm that, following approval of the Farm-Up by Timor-Leste's National Petroleum Authority (Autoridade Nacional do Petróleo or "ANP"), the Condition Precedent has been satisfied.

Accordingly, the Farm-Up Agreement between Baron's wholly owned subsidiary SundaGas Banda Unipessoal, Lda. ("SundaGas") and TIMOR GAP Chuditch Unipessoal Lda ("TIMOR GAP") in relation to the TL-SO-19-16 Production Sharing Contract (the "Chuditch PSC" or the "PSC"), offshore Democratic Republic of Timor-Leste, has now become unconditional.  

Completion of the Farm-Up will occur in due course.

For further information, please contact:                                                   

Baron Oil Plc                                                  [phone]

Andy Yeo, Chief Executive   

Allenby Capital Limited                                [phone]

Nominated Adviser and Joint Broker 

Alex Brearley, Nick Harriss, George Payne (Corporate Finance)     

Kelly Gardiner, Stefano Aquilino (Sales and Corporate Broking)      

Cavendish Capital Markets Limited             [phone] / [phone]

Joint Broker    

Neil McDonald, Pearl Kellie (Corporate Finance)     

Leif Powis (Sales)       

IFC Advisory Limited                                     [phone]

Financial PR and IR                                         [e-mail]

Tim Metcalfe, Florence Chandler

 

END