Baron Oil plc has completed its geophysical site survey at the planned drilling location for the Chuditch-2 appraisal well, offshore Timor-Leste. SEABED The company said that despite weather conditions causing operational delays its subsidiary has now incorporated the results into the geotechnical survey planning. Adverse weather also delayed the vessel due to conduct the geotechnical […]
Tag: TL-SO-19-16 – production sharing contract – Chuditch gas field Timor-Leste
Baron plans site surveys for Chuditch-2
Baron Oil plc expects to conduct site surveys during February and March at the planned drill location for the Chuditch-2 appraisal well, offshore Timor Leste. COSTS The surveys will identify potential hazards at the proposed well site to ensure minimal environmental impact when locating a drilling rig can be safely located on the TL-SO-19-16 production […]
Baron signs MoU for 15% Chuditch farm-up
Baron Oil plc has entered a proposed 15% working interest farm-up for the Chuditch production sharing contract, offshore Timor Leste. COSTS The company’s subsidiary SundaGas Banda Unipessoal Lda signed a memorandum of understanding with the country’s national oil and gas company TIMOR GAP Chuditch Unipessoal Lda. SundaGas will retain operatorship and hold a 60% working […]
Baron Oil extends Chuditch-2 drilling schedule
Baron Oil plc’s subsidiary has secured a six-month extension to the production sharing contract ahead of committing to drilling the Chuditch-2 appraisal well, offshore Timor-Leste. PREPARATIONS The PSC for the company’s wholly owned subsidiary and operator SundaGas Banda Unipessoal Lda now ends on 18 June 2024. A formal decision on whether to enter the drilling phase for […]
Baron pursues Chuditch-1 as losses double
Baron Oil plc has doubled losses while remaining focused on appraising the Chuditch gas discovery in Timor-Leste and expanding its operations. DRILL DECISION Six months to 30 June resulted in a net loss of £847,000 (H1 2022: net loss of £419,000). Administrative expenses rose to £778,000 (£497,000) and operating losses increased to £925,000 (420,000). Available cash nearly doubled […]
Baron granted more time for Chuditch decision
Baron Oil plc plc has received a six-month extension for preparations before deciding whether to drill an appraisal well on the TL-SO-19-16 ‘Chuditch’ production sharing contract (PSC), offshore Timor-Leste. EVALUATIONS The new expiry date of 18 December 2023 has been given to the company’s subsidiary and operator SundaGas Banda Unipessoal Lda. A subsequent commitment, on […]