18th Jan 2016 09:44
LONDON (Alliance News) - Baron Oil PLC on Monday said the initial interpretation of the seismic data acquired from its Block XXI project in Peru is good.
Baron said the initial findings showed a good sized, closed structure at the project, though the acquisition of the in-fill seismic lines is ongoing.
The company said the work on the project is now focused on understanding the significance of gas shows in the original well, which should allow the company to make a more definitive determination on the size and potential of the structure.
Shares in Baron were untraded on Monday, having last traded at 0.400 pence.
By Sam Unsted; [email protected]; @SamUAtAlliance
Copyright 2016 Alliance News Limited. All Rights Reserved.
Related Shares:
BOIL.L