Baron Oil plc has exited the UK after failing to secure new North Sea blocks in the 33rd licensing round and the earlier relinquishment of the Dunrobin-Golspie joint venture licence.
Chief executive Dr Andy Butler said: “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.”
Baron recently completed surveys before choosing a new drill location for the offshore Chuditch-2 appraisal well.