Baron Oil Plc (LON:BOIL), the AIM-quoted oil and gas exploration and appraisal company, has announced an update on the TL-SO-19-16 Production Sharing Contract (PSC), offshore Democratic Republic of Timor-Leste.
Baron’s wholly owned subsidiary, SundaGas Banda Unipessoal Lda., which operates the Chuditch PSC, has been granted a further six-month extension to Contract Year Two of the PSC by the Autoridade Nacional do Petróleo (“ANP”), I.P. a Timor-Leste public institution, created under Decree Law No. 62/2023 of 6th September 2023, 3rd amendment of Decree Law No. 20/2008 of 19th June, on the establishment of the ANP.