Baron Oil SE Asia focus and proposed Name Change

Baron Oil Plc (LON:BOIL) has announced a proposed change of the Company’s name to reflect its strategic focus on gas in South East Asia and an update on operational activities on the TL-SO-19-16 Production Sharing Contract, offshore Democratic Republic of Timor-Leste. This follows the announcement of the Company’s results for the year ended 31 December 2023 earlier today.

Headlines:

·    Change of Company name to ‘Sunda Energy plc‘ to be put to shareholders at forthcoming Annual General Meeting

·    Name change reinforces Company’s strategic focus on gas in the South East Asia region

·    Chuditch PSC will enter Contract Year Three on 19 June 2024

·    Significant progress in operational planning for Chuditch-2 well, including:

o site survey completion

o negotiations on a drilling rig

o environmental approvals process

o well and production test design

o procurement of equipment and services

·    Good progress in discussions with potential Chuditch drill funding partners

·    Pursuing new venture gas opportunities in SE Asia with low initial cost of entry.

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