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Baron Oil PLC (BOIL)

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Monday 17 September, 2018

Baron Oil PLC

Wick Rig Site Survey Completed

RNS Number : 9438A
Baron Oil PLC
17 September 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.

 

17 September 2018

 

Baron Oil Plc

("Baron Oil" or "the Company")

 

Wick Prospect: Rig Site Survey Completed

 

Baron Oil (AIM: BOIL) is pleased to note that Corallian Energy Limited ("Corallian"), operator of UK Seaward Production Licence P2235 (Block 11/24b) containing the Wick Prospect, has confirmed the successful completion of the rig site survey over the proposed location of the Wick exploration well. 

Corallian expects drilling of the Wick well to take place in Q4 2018, once outstanding regulatory approvals and consents have been received. Baron Oil holds a 15% interest in Licence P2235.

 

 Malcolm Butler, Chairman & CEO of Baron Oil Plc, said:

"The rig site survey is a necessary preliminary step to ensure the placement of the jackup rig on a stable seabed.  The Wick well is currently planned to be the first in our two well Q4 programme offshore UK, subject to the timing of receipt of the necessary regulatory approvals.  We look forward to updating the market on an exciting few months ahead."

 

For further information, please contact:

 

Baron Oil Plc

+44 (0)1892 838 948

Malcolm Butler, Chairman & Chief Executive Officer




SP Angel Corporate Finance LLP

+44 (0)20 3470 0470

Nominated Adviser and Broker


Lindsay Mair, Richard Hail, Richard Redmayne


 


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