OGA Approval Granted for Wick Farm-In

RNS Number : 1966O

Baron Oil PLC

16 May 2018

 

Market Abuse Regulation (MAR) Disclosure

Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.

16 May 2018

Baron Oil Plc

("Baron Oil" or "the Company")

OGA approval received for assignment of 15% interest in P2235 to Baron

Baron Oil (AIM: BOIL) is pleased to announce that it has been informed by Corallian Energy Limited, as operator of UK Seaward Production Licence P2235 (UKCS Block 11/24b), that the Oil & Gas Authority ("OGA") has approved the assignment to the Company of a 15% interest in this licence, which contains the Wick Prospect.

Malcolm Butler, Chairman & CEO of Baron Energy PLC, said:

"This approval enables Baron to formalise its 15% interest in the licence holding the Wick Prospect and become a full voting party under the Joint Operating Agreement, which is now being prepared and will govern operations on the licence."

For further information, please contact:

Baron Oil Plc	[phone]
Malcolm Butler, Chairman & Chief Executive Officer
SP Angel Corporate Finance LLP	[phone]
Nominated Adviser and Broker
Lindsay Mair, Richard Hail, Richard Redmayne

 

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