Update on Final Assignment for Block Z-34 Peru

RNS Number : 7942X

Baron Oil PLC

24 February 2017

 

THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED BY BARON OIL PLC TO CONSTITUTE INSIDE INFORMATION AS STIPULATED UNDER THE MARKET ABUSE REGULATION (EU) NO. 596/2014 ("MAR"). ON THE PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE ("RIS"), THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.

Baron Oil plc

Update on Final Assignment for Block Z-34 Peru

Baron Oil PLC (AIM:BOIL) ("Baron") is very pleased to announce that the Public Deed, the final document effecting the farm out to Union Oil & Gas Group ("UOGG") of the interest in Block Z-34 in Peru, has now been signed by the Central Bank of Peru.  UOGG is now liable to pay Baron the sum of US$2 million, on which Baron will have to pay Peruvian tax at 32%.

For further information on the Company, visit www.baronoilplc.com or contact:

Baron Oil Plc:                                                                                Tel: [phone]

Malcolm Butler (CEO)                                                                                                                       

Cantor Fitzgerald (Nominated Advisor and Joint Broker):     Tel: [phone]

Sarah Wharry (Corporate Finance)                                       

Alex Pollen (Corporate Broking)

SP Angel (Joint Broker)                                                               Tel: [phone]

Richard Hail / Richard Redmayne

The person making this notification on behalf of Baron Oil plc is Geoff Barnes, the Chief Financial Officer and Director of the Company.

 

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