REG - Baron Oil PLC - Farm-Up with TIMOR GAP becomes Unconditional

Baron OilAnnouncement

01/02/2024 10:15

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RNS Number : 7120B  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
+44 (0) 20 7117 2849

Andy Yeo, Chief Executive

 

Allenby Capital
Limited                                +44 (0)
20 3328 5656

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             +44 (0) 131 220 6939
/ +44 (0) 207 397 8900

Joint Broker

Neil McDonald, Pearl Kellie (Corporate Finance)

Leif Powis (Sales)

 

IFC Advisory
Limited
+44 (0) 20 3934 6630

Financial PR and
IR
baronoil@investor-focus.co.uk

Tim Metcalfe, Florence Chandler

 

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