Investment accounts
Adult accounts
Child accounts
Choosing Fidelity
Choosing Fidelity
Why invest with us Current offers Fees and charges Open an account Transfer investments
Financial advice & support
Fidelity’s Services
Fidelity’s Services
Financial advice Retirement Wealth Management Investor Centre (London) Bereavement
Guidance and tools
Guidance and tools
Choosing investments Choosing accounts ISA calculator Retirement calculators
Share dealing
Choose your shares
Tools and information
Tools and information
Share prices and markets Chart and compare shares Stock market news Shareholder perks IPOs and placings
Pensions & retirement
Pensions, tax & tools
Saving for retirement
Approaching / In retirement
Approaching / In retirement
Speak to a specialist Creating a retirement plan Taking tax-free cash Pension drawdown Annuities Investing in retirement Investment Pathways
Baron Oil reports latest progress at SundaGas subsidiary
(Sharecast News) - Baron Oil updated the market on its operational activities at the TL-SO-19-16 production sharing contract (PSC) on Monday, offshore Timor-Leste. The AIM-traded company said its subsidiary, SundaGas, had finalised contracts to conduct a site survey at the designated drilling location for the Chuditch-2 appraisal well.
Operations for the site survey were scheduled to take place during February and early March.
The company said the primary aim of the site survey, a mandatory requirement, was to pinpoint potential hazards at the proposed well site, ensuring the safe placement of a drilling rig with minimal environmental impact.
It said the survey would comprise geophysical studies and physical investigations of the seabed and shallow geological section.
SundaGas had been actively engaging in dialogues with other companies operating in the area to identify potential operational synergies for the drilling of the Chuditch-2 appraisal well.
The discussions led to the opportunity to collaborate with a nearby operator in acquiring the site survey.
Baron said the collaboration was expected to result in significant cost savings due to shared services and vessel mobilisation, compared to standalone acquisition.
Moreover, the shared operation would enable SundaGas to obtain the site survey earlier than initially planned, expediting certain aspects of well design and environmental approval submissions.
At 1305 GMT, shares in Baron Oil were down 4.49% at 0.08p.
Reporting by Josh White for Sharecast.com.
Share this article
Related Sharecast Articles
Important information: This information is not a personal recommendation for any particular investment. If you are unsure about the suitability of an investment you should speak to one of Fidelity’s advisers or an authorised financial adviser of your choice. When you are thinking about investing in shares, it’s generally a good idea to consider holding them alongside other investments in a diversified portfolio of assets. Past performance is not a reliable indicator of future returns.
Award-winning online share dealing
Search, compare and select from thousands of shares.
Expert insights into investing your money
Our team of experts explore the world of share dealing.
Policies and important information
Accessibility | Conflicts of interest statement | Consumer Duty Target Market | Consumer Duty Value Assessment Statement | Cookie policy | Diversity and Inclusion | Doing Business with Fidelity | Fidelity gender pay report | Investing in Fidelity funds | Legal information | Modern slavery | Mutual respect policy | Privacy statement | Remuneration policy | Security | Statutory and Regulatory disclosures | Whistleblowing policy
Please remember that past performance is not necessarily a guide to future performance, the performance of investments is not guaranteed, and the value of your investments can go down as well as up, so you may get back less than you invest. When investments have particular tax features, these will depend on your personal circumstances and tax rules may change in the future. This website does not contain any personal recommendations for a particular course of action, service or product. You should regularly review your investment objectives and choices and, if you are unsure whether an investment is suitable for you, you should contact an authorised financial adviser. Before opening an account, please read the ‘Doing Business with Fidelity’ document which incorporates our client terms. Prior to investing into a fund, please read the relevant key information document which contains important information about the fund.
This website is issued by Financial Administration Services Limited, which is authorised and regulated by the Financial Conduct Authority (FCA) (FCA Register number 122169) and registered in England and Wales under company number 1629709 whose registered address is Beech Gate, Millfield Lane, Lower Kingswood, Tadworth, Surrey, KT20 6RP.
