In a positive move, Baron Oil has announced a restructuring of the ownership of the high-impact Chuditch natural gas project in the Timor Sea. Baron’s indirect interest rises from 25.0% to 63.75%. In exchange, Baron will finance a $3.5m work programme through to the drill or drop decision in November 2022. Financing has been underpinned by the recent £3m equity raise. Baron has effectively acquired an incremental 228mm boe net of un-risked prospective resources for a nominal 1.5 cts/boe. Followi ....
25 Mar 2021
Chuditch interest increased, financing underpinned
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Chuditch interest increased, financing underpinned
Baron Oil Plc (BOIL:LON) | 0.1 0 4.0% | Mkt Cap: 16.6m
- Published:
25 Mar 2021 -
Author:
Peter J Dupont -
Pages:
14
In a positive move, Baron Oil has announced a restructuring of the ownership of the high-impact Chuditch natural gas project in the Timor Sea. Baron’s indirect interest rises from 25.0% to 63.75%. In exchange, Baron will finance a $3.5m work programme through to the drill or drop decision in November 2022. Financing has been underpinned by the recent £3m equity raise. Baron has effectively acquired an incremental 228mm boe net of un-risked prospective resources for a nominal 1.5 cts/boe. Followi ....