Baron Oil has increased its shareholding in SundaGas from 33.33 per cent to 85 per cent, and thereby increased its indirect interest in the Chuditch discovery off the coast of Timor-Leste from 25 per cent to 63.75 per cent.
The news made the shares of the company, which appropriately enough has a ticker symbol of BOIL, this week s hottest items, with a gain of 70 per cent.
Everything is in place to allow SundaGas to undertake the production sharing contract technical work programme activities, especially the critical 3D seismic reprocessing, Baron Oil said.
Warpaint London shares jumped this week after reporting strong sales in the first quarter
23 April 2021 | 12:05pm
StockMarketWire.com - The FTSE 100 was down 0.4% to 6,907.48 by midday as investors continued to weigh Covid risks and even as US futures markets suggested a recovery on Wall Street later.
US stocks were materially weaker on Thursday on the Biden administration s latest tax plans.
Back in the UK, retail sales jumped by 5.4% in March from February, the Office for National Statistics said.
Public transport company FirstGroup rose 11.5% to 96.85p after entering into an agreement to sell its First Student and First Transit businesses to EQT Infrastructure for £3.3 billion.
The company proposed to return about £365 million of the proceeds, about 30 pence per share, to shareholders during the current calendar year.
Baron ups stake in Chuditch PSC off Timor-Leste
Apr 23, 2021 8:25:am
Summary
by: Shardul Sharma
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Baron ups stake in Chuditch PSC off Timor-Leste
London-listed Baron Oil has increased its interest in the Chuditch gas discovery and prospects offshore Timor-Leste, it said on April 23.
Baron has increased its shareholding in SundaGas from 33.33% to 85%, and thereby increased its indirect interest in the Chuditch production sharing contract (PSC) from 25% to 63.75%. SundaGas was awarded operatorship of the Chuditch PSC in November 2019. Everything is in place to allow SundaGas Banda to undertake the PSC technical work programme activities, especially the critical 3D seismic reprocessing,” Andy Yeo, CEO of Baron said. “These works will enable an up-to-date assessment of the true potential of the Chuditch discovery and of the viability of drilling an appraisal well and further exploration wells in a timely manner.
23 April 2021 | 16:38pm
StockMarketWire.com - The FTSE 100 enjoyed a decent recovery in the latter part of the day on Friday, buoyed by a strong open in the US.
By the close the index was flat and above 6,900, having earlier traded firmly in the red, with the S&P 500 up 0.9% to 4,173.94 by 4.30pm UK time. Retail sales jumped by 5.4% in March from February, the Office for National Statistics said.
Public transport company FirstGroup rose 4.9% to 89.3p after entering into an agreement to sell its First Student and First Transit businesses to EQT Infrastructure for £3.3 billion.
The company proposed to return about £365 million of the proceeds, about 30 pence per share, to shareholders during the current calendar year.