Timor Leste: Baron Oil completes Earn In to Chuditch PSC, offshore Timor Leste
23 Apr 2021
AIM-listed Baron Oil has announced the completion of its Earn In for an increased interest in the
Chuditch discovery and prospects, offshore Timor Leste.
Baron has increased its shareholding in
SundaGas (Timor-Leste Sahul) ( SundaGas TLS ) from 33.33% to 85%, and thereby increased its indirect interest in the
TL-SO-19-16 PSC ( Chuditch PSC ), offshore Democratic Republic of Timor-Leste, from 25% to 63.75%.
Location of Chuditch PSC (Source: Baron Oil)
Andy Yeo, CEO of Baron commented: We are delighted that the Earn In arrangements have now been completed with the issue of new shares in SundaGas TLS to Baron and that the Company has secured a materially increased interest in the Chuditch PSC project. Everything is in place to allow SundaGas Banda to undertake the PSC technical work programme activities, especially the critical 3D seismic reprocessing. These works will enable an up-to
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