Baron Oil (BOIL)

Sector:

Energy Producers

Index:

FTSE AIM All-Share

0.055p
   
  • Change Today:
      0.002p
  • 52 Week High: 0.14
  • 52 Week Low: 0.050
  • Currency: UK Pounds
  • Shares Issued: 25,511m
  • Volume: 594,433,741
  • Market Cap: £14.03m

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Baron Oil reports 'significant progress' in first half

By Josh White

Date: Tuesday 23 Aug 2022

LONDON (ShareCast) - (Sharecast News) - Asia and UK-focussed exploration company Baron Oil reported "considerable technical advances" on Chuditch, offshore Timor-Leste, in its interim results on Tuesday.

The AIM-traded firm, which is still pre-revenue, said its geoscience team was interpreting the improved subsurface image resulting from the TGS 3D reprocessing project, and integrating it into a revised evaluation.

At UK licence P2478, meanwhile, the 3D seismic reprocessing project and geochemical studies had been received, and re-interpretation began on schedule in July.

The company said the revised evaluation of the prospectivity of the licence, including the Dunrobin prospect, was expected to be delivered in the fourth quarter.

Baron relinquished the "legacy" Block XXI in the period, allowing for an orderly withdrawal from Peru.

A placing and subscription in April raised a gross £1.65m, which the board said was primarily to progress the Chuditch and P2478 projects towards their key milestones.

At the end of the six-month period on 30 June, the company's free cash position stood at £2.37m, up from £1.65m a year earlier.

"We believe that Baron is in a strong position to deliver value to shareholders as our two major projects move through key evaluation points at the same time as the oil & gas sector tailwinds of energy security, structural imbalances in LNG, and historically high gas prices are firmly with us," said executive chairman John Wakefield.

"Our strategy remains that of seeking and working up high potential impact exploration and appraisal opportunities at significant equity in proven hydrocarbon basins."

At 1054 BST, shares in Baron Oil were down 2.58% at 0.08p.

Reporting by Josh White at Sharecast.com.

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Baron Oil Market Data

Currency UK Pounds
Share Price 0.055p
Change Today 0.002p
% Change -3.51 %
52 Week High 0.14
52 Week Low 0.050
Volume 594,433,741
Shares Issued 25,511m
Market Cap £14.03m

Baron Oil Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
4.89% below the market average4.89% below the market average4.89% below the market average4.89% below the market average4.89% below the market average
57.89% below the sector average57.89% below the sector average57.89% below the sector average57.89% below the sector average57.89% below the sector average
Price Trend
65.37% below the market average65.37% below the market average65.37% below the market average65.37% below the market average65.37% below the market average
39.02% below the sector average39.02% below the sector average39.02% below the sector average39.02% below the sector average39.02% below the sector average
Income Not Available
Growth Not Available

Baron Oil Dividends

No dividends found

Trades for 28-Mar-2024

Time Volume / Share Price
17:08 7,000,000 @ 0.055p
16:27 16,795 @ 0.060p
16:25 718,133 @ 0.056p
16:22 2,246,666 @ 0.055p
16:22 1,818,190 @ 0.055p

Baron Oil Key Personnel

CEO Andrew Yeo
CEO Andrew (Andy) Butler

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