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Chevron Makes Australian Natural Gas Find

Chevron Makes Australian Natural Gas Find
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Investegate |Baron Oil PLC Announcements | Baron Oil PLC: Chuditch PSC Update



Includes request for minimum 12-month extension
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Significant upgrade in estimated resources

Gross Mean GIIP: 4,703 BCF

Gross Mean Prospective Resources: 3,527 BCF

Mean Prospective Resources net to Baron interest: 882 BCF
 
 
Baron has a 33.33% interest in the shares of SundaGas (Timor-Leste Sahul) Pte. Ltd. ( SundaGas TLS ), the parent company of the Timor-Leste subsidiary holding the Chuditch PSC interest, with the remaining 66.67% being held by a subsidiary of SundaGas Pte. Ltd., a private E&P company based in Singapore. The sole asset of SundaGas TLS is its 100% shareholding in SundaGas Banda Unipessoal Lda., which in turn operates and holds a 75% interest in the PSC, with the remaining 25% carried interest being held by a subsidiary of the Timor-Leste state oil company (Timor Gap, E.P.). Baron therefore has an indirect 25% int ....

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