---
title: "Baron Oil PLC (AIM:BOIL) Completion of Farm-Up with TIMOR GAP"
publisher: "Share Talk"
author: "sharetalk"
published: "2024-02-08T07:49:47+00:00"
modified: "2024-02-08T07:49:47+00:00"
date: 2024-02-08
canonical: "https://www.share-talk.com/baron-oil-plc-aimboil-completion-of-farm-up-with-timor-gap/"
category: "Energy"
categories: ["Energy", "Oil and Gas"]
tags: ["3D", "Asia", "Baron Oil", "boil", "Chuditch PSC", "Dr Malcolm Butler", "Jon Ford", "Latin America", "Moray Firth", "North Sea", "NSTA", "offshore", "Seismic", "Share Talk", "SundaGas Resource", "Timor-Leste"]
image: "https://i0.wp.com/www.share-talk.com/wp-content/uploads/2024/02/BARON-OIL-750x406-1.jpg?fit=750%2C406&ssl=1"
format: "news"
language: "en-GB"
---

# Baron Oil PLC (AIM:BOIL) Completion of Farm-Up with TIMOR GAP

**Published:** February 8, 2024
**Author:** sharetalk
**Categories:** Energy, Oil and Gas
**Tags:** 3D, Asia, Baron Oil, boil, Chuditch PSC, Dr Malcolm Butler, Jon Ford, Latin America, Moray Firth, North Sea, NSTA, offshore, Seismic, Share Talk, SundaGas Resource, Timor-Leste
**Featured image:** ![](https://i0.wp.com/www.share-talk.com/wp-content/uploads/2024/02/BARON-OIL-750x406-1.jpg?fit=750%2C406&ssl=1)

---

Further to the Company’s announcements of 24 January 2024 and 1 February 2024, **Baron Oil Plc (AIM: BOIL)** is pleased to confirm that the Farm-Up Agreement between Baron’s wholly owned subsidiary SundaGas Banda Unipessoal, Lda.

(“SundaGas”) and TIMOR GAP Chuditch Unipessoal Lda (“TIMOR GAP”) in relation to the TL-SO-19-16 Production Sharing Contract (the “Chuditch PSC” or the “PSC”), offshore Democratic Republic of Timor-Leste, has completed.

As part of the Farm-Up arrangements, TIMOR GAP will make a cash payment to SundaGas of c.US$1 million to cover back costs within 30 days.

SundaGas retains operatorship of the Chuditch PSC and holds a 60% working interest. TIMOR GAP has a 40% interest, made up of a working interest of 15%, plus its original 25% interest which is carried to first gas. Henceforth, TIMOR GAP will be responsible for paying 20% of all costs in relation to the PSC, including the drilling of the planned Chuditch-2 appraisal well.

For further information, please contact:                                                   

Baron Oil Plc                                                  +44 (0) 20 7117 2849

Andy Yeo, Chief Executive

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