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Baron Oil report says East Timor gas development appears viable

Dow Jones - February 28, 2023

Joe Hoppe – Baron Oil PLC said Tuesday that a competent person's report for the Chuditch-1 gas discovery, offshore East Timor, shows the project is likely to be economically viable.

The London-listed oil and gas company – which has a 75% operated effective interest in Chuditch – said the report estimates Chuditch-1 contains 1,084 billion standard cubic feet of gas.

The report also attributed aggregated gross prospective gas resources 1,562 billion standard cubic feet of gas to the license.

The company said the assignment of contingent resources to the Chuditch-1 discovery sets the foundation for the next stage of the project cycle, and management believes the contingent resources are likely to be large enough to be economically viable to be developed standalone or together with other developments in the region.

"Our focus now is on assessing the viability of drilling for both a Chuditch appraisal well in Timor-Leste and a Dunrobin West exploration well in the U.K.," Technical Director Jon Ford said.

Source: https://www.marketwatch.com/story/baron-oil-report-says-east-timor-gas-development-appears-viable-287c530