7
May 2024
Baron Oil
Plc
("Baron", or the
"Company")
Update re. UK 33rd
Offshore Licensing Round
Baron Oil Plc (AIM:BOIL) announces
that it has been informed that its application, as a joint venture
non-operating partner, in the UK offshore 33rd Round of licensing,
conducted by the UK North Sea Transition Authority ("NSTA") (the "Licensing Round"), has been
unsuccessful and consequently the Company has not been awarded any
blocks in the Licensing Round.
Dr Andy Butler, Chief
Executive of Baron, commented:
"We note that Baron has not been offered any blocks in the
offshore UK licensing round, which, together with the previously
announced relinquishment of UK licence P2478, means that the
Company has fully withdrawn from the UK. We can now focus all our
attentions on our core area of SE Asia, where we have an exciting
and valuable asset in Timor-Leste, a highly experienced operating
team and a pipeline of material new venture opportunities across
the region."
For further
information, please
contact:
Baron Oil
Plc
+44 (0) 20 7117 2849
Dr Andy Butler, Chief Executive
Officer
Allenby
Capital
Limited
+44 (0) 20 3328
5656
Nominated Adviser and Joint
Broker
Nick Athanas, Nick Harriss, George Payne
(Corporate Finance)
Kelly Gardiner, Stefano Aquilino (Sales and
Corporate Broking)
Cavendish
Capital Markets
Limited
+44 (0) 131 220 6939 / +44 (0) 207 397 8900
Joint
Broker
Neil McDonald, Pearl Kellie (Corporate
Finance)
Leif Powis (Sales)
IFC Advisory
Limited
+44 (0) 20 3934 6630
Financial PR and
IR
baronoil@investor-focus.co.uk
Tim Metcalfe, Florence Chandler