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Baron Oil completes earn in to Chuditch PSC

StockMarketWire.com

Oil and gas exploration company Baron Oil said it had completed its earn in for an increased stake in the Chuditch discovery and prospects.

Baron increased its shareholding in SundaGas from 33.33% to 85%, and thereby increased its indirect stake in the TL-SO-19-16 PSC, the Chuditch project, offshore Democratic Republic of Timor-Leste from 25% to 63.75%.

'Everything is in place to allow SundaGas Banda to undertake the PSC technical work programme activities, especially the critical 3D seismic reprocessing,' the company 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,' it added.



At 8:03am: (LON:BOIL) Baron Oil share price was 0p at 0.08p


Story provided by StockMarketWire.com