BARON OIL PLC is an independent oil and gas exploration and production company incorporated in the UK in April 2004 and focused on identifying oil and gas interests in Latin America, in particular Peru, and Colombia. Our company will explore for, appraise, develop and produce oil and natural gas and build up the capital value of its projects to a point where it can be monitised.
The Directors believe that their broad collective experience in the area of mergers and acquisitions and corporate and financial management as well as a profound business experience and knowledge of the South American environment in relation to small and medium sized businesses will assist them in the identification and evaluation of acquisition opportunities.
Highlights / Colombia
Nancy Burdine Maxine - onshore production (29.5% working interest and Operator of the Union Temporal) thorough the company´s 50% owned affiliate Invepetrol. The field is currently producing 400 bbls per day.
Ecopetrol have now advised the company that they will terminate the Invepetrol production licence on 16 October 2015 and they will take over the field operatorship and full responsibility for this producing field from that date. This expiry date was as per the original licence agreement for the field.
Highlights / Peru
Block Z34 - offshore exploration (20% interest after farm- out and sale of Plectrum Petroleum Limited). A Farm Out Agreement and a Joint Operating Agreement with Uruguayan company Union Oil & Gas Group Corp has been signed under which Baron Oil will be carried in the 3 remaining Exploration phases of the license contract.
Baron Oil will receive a total of $6 million for the Farm-out of which it will receive $4 million by selling Plectrum Petroleum Limited. Plectrum is 100% owned by Gold Oil and has a 50% participation in Block Z-34. Gold Oil will receive the remaining $2 million when Union Oil & Gas has been qualified by Perupetro for the additional 30% participation interest in Z-34.
Baron Oil has acquired in 2009 a 2D survey of about 2000 km and a 3D Seismic acquisition using the Vessel BGP Pioneer of about 800 sqkm over both the northern and southern parts of the block in Q3 2011. Processing of the data was contracted to Veritas.
Block XXI - onshore exploration (100% interest). In September 2014 Baron Oil signed as Farm-out Agreement (FOA) with Vale Oil and Gas, Peru in which Vale trasnfers their entire 70% working interest in the Block back to Baron (Gold Oil Peru SAC) their entire 70% plus pay Baron Oil US$3.5 million. Baron Oil is now the owner of a 100% working interest in Block XXI.
Copyright 2009 - Baron Oil PLC – All rights reserved
Malecón 28 de Julio 455 Office 902, Miraflores 18, Lima - Perú +51(01)4442900 / Fax: +51(01)2419253.