Baron entered into a six-month Joint Study Group with SundaGas Pte. Ltd. in 2016 to investigate possible new projects in Southeast Asia. Review of a range of possibilities led to an application being submitted by SundaGas for a new offshore licence over an area containing an existing gas discovery. It is hoped that the long delays on a decision to award the block may now be coming to an end. If the block is awarded to SundaGas, Baron will have the right to hold a 25% interest. In the meantime, Baron continues to discuss with SundaGas the possibility of participating in other exploration opportunities in SE Asia.
31st Offshore Licensing Round
8% -15% Interest
Baron applied in early November 2018 for additional blocks in offshore areas of the United Kingdom. If successful, Baron would be entitled to an interest of between 8% and 15% in any blocks awarded.
The results of the 31st Offshore Licensing Round are not expected to be announced until the second quarter of 2019.