Baron Oil focuses on southeast Asia with potential rebrand to Sunda Energy
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Dr. Andy Butler, CEO of
Dr. Andy Butler, CEO of Baron Oil, presented an update on the company’s activities and strategic direction. Baron Oil, with a market capitalisation of approximately 30 million USD, is focused on Southeast Asia, particularly Timor-Leste. The company is undergoing significant changes, including a potential rebranding to "Sunda Energy," subject to shareholder approval at the upcoming AGM. The rebranding reflects their commitment to the Southeast Asian market, driven by significant demand and resource opportunities in the region.
Dr. Butler highlighted the importance of natural gas in Southeast Asia, where liquefied natural gas (LNG) usage is growing. The region's strong economic growth correlates with increased energy demand. Baron Oil’s primary asset in Timor-Leste is the Chuditch gas field, which is undergoing further appraisal and development. The company plans to drill an appraisal well and has already reprocessed seismic data, upgrading the gas estimates significantly.
Timor-Leste provides a supportive operating environment with favourable fiscal terms and strong government alignment. Baron Oil's partner, Timor Gap, increased its stake in the Chuditch field, demonstrating confidence in the project. The development plan for Chuditch includes a phased approach, aiming to produce significant quantities of gas to meet regional demand. Dr. Butler also emphasised the company's commitment to local content and sustainable development in Timor-Leste.
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14 ساعت پیش
در تاریخ 1403/07/07 منتشر شده
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