Baron Oil has announced the proposed assignment of a 15% working interest in the Chuditch PSC to TIMOR GAP, its existing JV partner on the PSC and a wholly owned subsidiary of the Timor-Leste national oil and gas company. In consideration, TIMOR GAP will pay 20% of all costs, including the drilling of the planned Chuditch-2 appraisal well, and the reimbursement of back costs, which in aggregate total cUS$8.5m. TIMOR GAP’s decision to increase its participation in Chuditch through a paying intere ....
18 Dec 2023
Baron Oil - Farm Out Agreement with Timor Gap
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Baron Oil - Farm Out Agreement with Timor Gap
Baron Oil Plc (BOIL:LON) | 0.1 0 (-3.6%) | Mkt Cap: 17.2m
- Published:
18 Dec 2023 -
Author:
James McCormack -
Pages:
5
Baron Oil has announced the proposed assignment of a 15% working interest in the Chuditch PSC to TIMOR GAP, its existing JV partner on the PSC and a wholly owned subsidiary of the Timor-Leste national oil and gas company. In consideration, TIMOR GAP will pay 20% of all costs, including the drilling of the planned Chuditch-2 appraisal well, and the reimbursement of back costs, which in aggregate total cUS$8.5m. TIMOR GAP’s decision to increase its participation in Chuditch through a paying intere ....