BOIL Baron Oil Plc

TIDMBOIL

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:

 
                                             +44 (0)1892 
Baron Oil Plc                                 838 948 
Malcolm Butler, Chairman & Chief Executive 
 Officer 
 
                                             +44 (0)20 3470 
SP Angel Corporate Finance LLP                0470 
Nominated Adviser and Broker 
Lindsay Mair, Richard Hail, Richard 
 Redmayne 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

REAAAMPTMBTBBTP

(END) Dow Jones Newswires

May 16, 2018 02:00 ET (06:00 GMT)

Baron Oil (LSE:BOIL)
Historical Stock Chart
From Apr 2024 to May 2024

Baron Oil (LSE:BOIL)
Historical Stock Chart
From May 2023 to May 2024