Baron Oil (BOIL)

Sector:

Energy Producers

Index:

FTSE AIM All-Share

 0.053p
   
  • Change Today:
      0.000p
  • 52 Week High: 0.17
  • 52 Week Low: 0.050
  • Currency: UK Pounds
  • Shares Issued: 25,511m
  • Volume: 233,170,215
  • Market Cap: £13.39m

Baron Oil reveals plans for Chuditch appraisal well

By Josh White

Date: Wednesday 11 Oct 2023

LONDON (ShareCast) - (Sharecast News) - Baron Oil announced further details on the planned Chuditch-2 appraisal well in the Chuditch gas field on Wednesday, on the TL-SO-19-16 production sharing contract offshore Timor-Leste.
The AIM-traded firm said the selected drilling site for the well would be 4.8 kilometres from the initial Chuditch-1 discovery well - a substantial step-out underscoring both the expansive size of the gas field and Baron Oil's confidence in the reprocessed seismic datasets.

It said the new well would target a gas column of over 100 metres, significantly surpassing the 30-metre column discovered at Chuditch-1 in 1998.

It was expected to use a simple vertical well design facilitated by improved subsurface imaging derived from reprocessed 3D seismic data, ensuring operational simplicity and cost-efficiency.

Expected to be drilled in late 2024, contingent on securing drill financing, the Chuditch-2 appraisal well would use a jack-up drilling rig, with the drilling operation projected to span 21 days and an additional 15 days allocated for logging and a drill stem test.

The well would explore a water depth of 60 metres and drill down to 3,020 metres below mean sea level.

"In relation to drilling planning, Baron has recruited a well operations manager and scheduled planning workshops with government regulator ANP and joint venture partner TIMOR GAP," the board explained.

"Baron is also in discussions with other regional operators to identify potential logistical and operational cost-saving synergies, and has submitted first phase documentation to ANP for environmental permits."

At 1414 BST, shares in Baron Oil were up 2.3% at 0.08p.

Reporting by Josh White for Sharecast.com.

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Baron Oil Market Data

Currency UK Pounds
Share Price 0.053p
Change Today 0.000p
% Change 0.00 %
52 Week High 0.17
52 Week Low 0.050
Volume 233,170,215
Shares Issued 25,511m
Market Cap £13.39m

Baron Oil Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
3.36% below the market average3.36% below the market average3.36% below the market average3.36% below the market average3.36% below the market average
60.53% below the sector average60.53% below the sector average60.53% below the sector average60.53% below the sector average60.53% below the sector average
Price Trend
69.3% below the market average69.3% below the market average69.3% below the market average69.3% below the market average69.3% below the market average
40.74% below the sector average40.74% below the sector average40.74% below the sector average40.74% below the sector average40.74% below the sector average
Income Not Available
Growth Not Available

Baron Oil Dividends

No dividends found

Trades for 01-Mar-2024

Time Volume / Share Price
16:28 1,000,000 @ 0.054p
16:24 2,604 @ 0.054p
16:22 20,000,000 @ 0.054p
16:20 1,017,900 @ 0.052p
16:19 10,000,000 @ 0.053p

Baron Oil Key Personnel

CEO Andrew Yeo

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