Baron Oil announces JV with SundaGas in Southeast Asia

Source: www.gulfoilandgas.com 9/23/2016, Location: Asia

AIM-listed Baron Oil has entered into a Joint Venture with SundaGas, a Singapore-based company, to search for new business opportunities in Southeast Asia.

SundaGas is a new exploration and production company, founded by Dr Andy Butler, formerly VP Business Development at Mitra Energy Inc. Its management has many years of experience as an operator in SE Asia, where a number of material transactions were completed. SundaGas has already identified a portfolio of potential opportunities, ranging from new PSC applications to purchases of existing production. The company also has the great advantage of being able to bring an operating capability in SE Asia to the table.

Baron will pay SundaGas a monthly fee for an initial period of six months from 1 October 2016, after which the arrangement will be reviewed. In the event that opportunities that have already been identified by SundaGas or are identified during the initial period come to fruition, Baron will have the right to take an interest in them on the same terms as SundaGas.

Bill Colvin, Chairman of Baron, said: 'This offers a great opportunity for Baron to open up a new operation in one of the few areas of the World where there is both strong demand for oil and gas and the clear support of governments to make exploration and production easy to achieve. We are particularly interested in gas opportunities because of the stable, long-term pricing environment. Having access to the experience and deal flow of the SundaGas team gives Baron a head start that would take years to achieve if built from scratch.'


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Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 


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