Baron’s focus is on owning significant equity interests in high impact exploration and appraisal activities in proven oil and gas provinces. Currently we own a 60% stake in the Timor-Leste “Chuditch” PSC and 32% in the UK P2478 “Dunrobin” licence. During 2022-23 we undertook sophisticated technical studies which have progressed these projects towards potential drilling in 2024. It is timely that we are bringing these projects forward when issues of energy security and structural imbalances in supply have led to a sustained period of high prices for oil and gas.

Timor-Leste – Chuditch PSC

Shallow water offshore some 185 kilometres south of Timor-Leste with the Chuditch-1 gas discovery and offset analogous prospectivity

UKCS P2478

Just off the coast of NE Scotland with the major Dunrobin prospect being matured

Timor-Leste TL-SO-19-16 – Chuditch

Baron holds a 60% working interest and operates the TL-SO-19-16 Production Sharing Contract (“Chuditch PSC”) offshore Timor-Leste through its wholly owned subsidiary company SundaGas Banda Unipessoal Lda. (“Banda”). The main work programme obligation, to reprocess and interpret legacy 3D seismic data, is complete. A drilling location for the “Chuditch-2” appraisal well has been selected, an operational team in Baron’s Dili office is being assembled, and preparations for potential drilling around the end of 2024 are underway.

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UKCS P2478 – Dunrobin

Baron holds a 32% interest in Innovate Licence P2478 (Blocks 12/27c, 17/5, 18/1 and 18/2), which was awarded under the 31st Round of Offshore Licensing. Phase A of the licence has been extended to allow the opportunity to acquire new 3D seismic data which would complete imaging of the main Dunrobin West prospect and potentially illuminate reservoir detail ahead of any decision to progress to the drilling phase of the licence.

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