Announcement regarding Woodburn Forest

RNS Number : 2350Y

Baron Oil PLC

13 May 2016

 

13 May 2016

Baron Oil plc

("Baron" or "the Company")

Announcement regarding Woodburn Forest

The Board of Baron notes the announcement released today by InfraStrata plc ("Infrastrata") regarding recent press comment on the Woodburn Forest project in Northern Ireland Petroleum Licence PL1/10 ("PL1/10"). Under the terms of the Farmout Agreement announced on 19 January 2016, Baron will earn a 10% interest in PL1/10. The drilling of the well is expected to commence in May 2016.

The Infrastrata announcement is repeated in full below:

"Re Press Comment on Woodburn Forest

InfraStrata plc (AIM:INFA), the independent petroleum exploration and gas storage company, notes recent press comment on the Woodburn Forest project and that an individual has been granted leave for a judicial review with the local authority regarding the Woodburn Forest site. InfraStrata is a notice party. A date for a hearing has not yet been set. A further request by the individual to seek an injunction to stop the drilling has not been pursued and the Company continues to progress with its drilling programme and will update the market as necessary.

The Company has no further information on the matter at this stage, although it is aware of ongoing protest regarding the site. The local authority and other agencies have been and are addressing complaints from the individual and protesters regarding the Company's operations on the site and the Company has provided all possible co-operation in that respect. InfraStrata has all of the required statutory approvals and consents to drill the well and will continue to comply with these and ensure that the operations are safe and the environment is protected."

For further information:

Baron Oil Plc

Bill Colvin (Chairman & CEO)                                         Tel: [phone]

Cantor Fitzgerald Europe 

Nominated Adviser and Broker

Sarah Wharry (Corporate Finance)                                 Tel:  [phone]

 

END

 

 

MSCUORURNSAVAAR