Baron Oil PLC Update on Block Z-34 Peru (4481W)
09 February 2017 - 8:21PM
UK Regulatory
TIDMBOIL
RNS Number : 4481W
Baron Oil PLC
09 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
Block Z-34 Public Deed executed by Gold Oil Peru, Union Oil
& Gas Group and PeruPetro
Baron Oil PLC (AIM: BOIL) is pleased to announce that the Public
Deed effecting the assignment of a 30% interest in the Block Z-34
Production Sharing Contract from Baron's subsidiary, Gold Oil Peru
("GOP"), to Union Oil & Gas Group ("UOGG") has been executed by
GOP, UOGG and PeruPetro. This document finalises the farmin
transaction between GOP and UOGG. It will now be taken by the
Notary to the Central Bank for signature and the Deed formally
issued. It is estimated that Completion will take place within 10
days and the sum of $2 million will be payable to GOP by UOGG. As
previously noted, this amount will be subject to Peruvian tax at a
30% rate.
For further information on the Company, visit
www.baronoilplc.com or contact:
Baron Oil Plc: Tel: +44 (0)1892 838948
Malcolm Butler (CEO)
Cantor Fitzgerald (Nominated Advisor and Joint Broker): Tel: +44 (0)20 7894 7000
Sarah Wharry (Corporate Finance)
Alex Pollen (Corporate Broking)
SP Angel (Joint Broker) Tel: +44 (0)20 7470 0470
Richard Hail / Richard Redmayne
This information is provided by RNS
The company news service from the London Stock Exchange
END
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