Press / Press Releases

Baron Oil reports funds not yet received from Union Oil & Gas Group

Date: 17 Mar 2017

THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED BY BARON OIL PLC TO CONSTITUTE INSIDE INFORMATION AS STIPULATED UNDER THE MARKET ABUSE REGULATION (EU) NO. 596/2014 (“MAR”). ON THE PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE (“RIS”), THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.

 

 Baron Oil plc

 

Baron Oil reports funds not yet received from Union Oil & Gas Group

Baron Oil PLC (AIM:BOIL) reports that its Peruvian subsidiary, Gold Oil Peru SAC, did not receive the $2 million due from Union Oil & Gas Group (UOGG) by the date specified in the Farm In Agreement.  Discussions are underway with UOGG in an attempt to resolve this issue.

For further information on the Company, visit www.baronoilplc.com or contact:

 

Baron Oil Plc:                                                              Tel: +44 (0)1892 838948

Malcolm Butler (CEO)

 

Cantor Fitzgerald (Nominated Advisor and Joint Broker):     Tel: +44 (0)20 7894 7000

Sarah Wharry (Corporate Finance)

Alex Pollen (Corporate Broking)

 

SP Angel (Joint Broker)                                                 Tel: +44 (0)20 7470 0470

Richard Hail / Richard Redmayne

 

The person making this notification on behalf of Baron Oil plc is Geoff Barnes, the Chief Financial Officer and Director of the Company.