Baron Oil Announces Extension Request for the Chuditch PSC

Source: 2/26/2021, Location: Asia

Baron Oil Plc (BOIL), the AIM-quoted oil and gas exploration company, is delighted to announce that SundaGas Banda Unipessoal Lda. ("SundaGas"), in which Baron is an indirect 33.33% shareholder and which operates the TL-SO-19-16 PSC (the "Chuditch PSC") in Timor-Leste, has been granted a 12-month extension to Contract Year 1 of the Chuditch PSC. Accordingly, the new expiry date of Year 1 of the 3 year initial licence phase ("Initial Period") is now 8 November 2021.

This extension to the PSC timeline comes alongside significant progress being made towards resolving issues around data access which is expected to allow SundaGas to be able to complete the commitment work programme in a timely manner.

Andy Yeo, Chief Executive of Baron Oil, Commented:

"We are delighted that SundaGas has been able to get the Chuditch project back on track, with Baron's support and in collaboration with ANPM. We look forward to updating shareholders as we move forward with this exciting and material investment."

Sierra Leone >>  2/21/2024 - Sierra Leone (PDSL), will promote the country’s upstream opportunities and available blocks at the upcoming Invest in African Energy (IAE) forum in Pa...
Colombia >>  2/20/2024 - Arrow Exploration Corp. (AIM: AXL; TSXV: AXL) ("Arrow" or the "Company"), the high-growth operator with a portfolio of assets across key Colombian hyd...

Pakistan >>  2/19/2024 - The Oil and Gas Development Company Limited (OGDCL) is honored to announce a significant gas-condensate discovery from its exploration efforts at Khar...
Namibia >>  2/16/2024 - The sixth edition of the Namibia International Energy Conference takes place April 23-25 in Windhoek.

Namibia expects to produce first oil ...

Norway >>  2/16/2024 - Exploration well 35/11-28 S "Harden sør" in the North Sea proved to be dry. Equinor Energy AS is the operator of production licence 248 C.


Norway >>  2/16/2024 - The Norwegian Ocean Industry Authority (Havtil) has granted Equinor consent for exploration drilling in the North Sea.

Operator: Equinor

Gulf Oil and Gas
Copyright © 2023 ICT All rights reserved. - Terms of Service - Privacy Policy.