Baron Oil raises £3.26 million to advance drilling of the Chuditch-2 appraisal well

Baron Oil plc (LON:BOIL), the AIM-quoted oil and gas exploration and appraisal company, has confirmed, further to the announcements made on 15 February 2024, the result of its Fundraise at the Issue Price of 0.05 pence per share. The Company announces that it has raised aggregate gross proceeds of approximately £0.26 million pursuant to the WRAP Retail Offer, alongside the previously announced Placing and Subscription. Accordingly, the Company will issue a total of 528,023,360 new Ordinary Shares at the Issue Price pursuant to the WRAP Retail Offer.

In total, the Placing and Subscription and the WRAP Retail Offer have raised gross proceeds of approximately £3.26 million for the Company, via the Placing and Subscription of 6,000,000,000 Placing and Subscription Shares and the 528,023,360 WRAP Retail Offer Shares.

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