14th Jul 2021 19:36
Baron Oil PLC - oil & gas explorer in UK and Peru - Independent review of the Chuditch production sharing contract indicates gross mean prospective resources of 592 million barrels of oil equivalent.
The subsurface risks for prospects and lead is estimated to be low as they share analogous geological characteristics to the Chuditch-1 and other gas discoveries in adjacent Timor-Leste and Australian waters.
The ongoing 3D seismic reprocessing has the potential to reduce the range of volumetric uncertainty, including investigating the single large accumulation concept, reducing subsurface risk, and providing multiple drilling location candidates. On completion of this work and associated studies, some or all of the resources in the Chuditch-1 discovery may be reclassified from prospective to contingent," says Technical Director Jon Ford.
Current stock price: 0.078 pence
Year-to-date change: up 11%
By Dayo Laniyan; [email protected]
Copyright 2021 Alliance News Limited. All Rights Reserved.
Related Shares:
BOIL.L