AIM-listed Baron Oil has been informed that its application, as a joint venture non-operating partner, in the UK offshore 33rd Round of licensing, conducted by the UK North Sea Transition Authority ('NSTA'), has been unsuccessful and consequently the Company has not been awarded any blocks in the Licensing Round.
Dr Andy Butler, Chief Executive of Baron, commented:
'We note that Baron has not been offered any blocks in the offshore UK licensing round, which, together with the previously announced relinquishment of UK licence P2478, means that the Company has fully withdrawn from the UK. We can now focus all our attentions on our core area of SE Asia, where we have an exciting and valuable asset in Timor-Leste, a highly experienced operating team and a pipeline of material new venture opportunities across the region.'
Source: Baron Oil
