19 June 2023
Baron Oil Plc
("Baron" or the "Company")
Proposed appointment of Director
Baron Oil Plc (AIM:BOIL), the AIM-quoted oil and gas exploration and appraisal company, announces the proposed appointment of Dr Andrew (Andy) Butler to the Board of the Company as Director, Asia Pacific, which is expected to take place on 1 July 2023.
Andy has over 27 years of experience in the oil and gas sector and will bring relevant expertise to the Company's Board. Andy is the CEO of SundaGas Pte Ltd ("SGPL"), which is an exploration and production company he co-founded in 2016. Andy currently manages the Company's Timor Leste project and has had involvement with Baron since 2016, when the Company entered into a joint venture agreement with SGPL, which ultimately led to the signing in 2019 of the Timor-Leste TL-SO-19-16 Production Sharing Contract ("Chuditch PSC"). He has been a person discharging managerial responsibilities (PDMR) of the Company since 2021 and is a director of Baron's two subsidiaries in Asia.
Andy was formerly vice president of business development at Mitra Energy Ltd (subsequently renamed Jadestone Energy Plc) and new ventures manager and a principal consultant geologist at BG Group. Andy is currently the First Vice President of the South-East Asia Petroleum Exploration Society (SEAPEX) and is a Fellow of the Geological Society of London, a member of the Geoscience Energy Society of Great Britain, the Society of Petroleum Engineers, the Association of International Energy Negotiators and the Singapore Institute of Directors. He has a Ph.D in Geology from the University of Cambridge and a B.A. in Geology from the University of Oxford.
A further announcement will be made on Mr Butler's appointment.
Andy Yeo, Chief Executive of Baron, commented:
"Having worked closely with Andy on the Chuditch PSC prior to and since its award in 2019, we are delighted to be welcoming him to the Board. He adds technical and commercial capacity as well as providing access and expertise in Asia. Following the recent extension to the current phase of the Chuditch PSC, Andy will continue to manage the Timor-Leste project where discussions with third parties regarding participation in the Chuditch appraisal well and future activities are ongoing."
For further information, please contact:
| Baron Oil Plc Andy Yeo, Chief Executive | +44 (0) 20 7117 2849
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| Allenby Capital Limited Nominated Adviser and Joint Broker Alex Brearley, Nick Harriss, George Payne (Corporate Finance) Kelly Gardiner (Sales and Corporate Broking) | +44 (0) 20 3328 5656 |
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| Cenkos Securities Plc Joint Broker Neil McDonald, Pearl Kellie (Corporate Finance) Leif Powis (Sales) | +44 (0) 131 220 6939 / +44 (0) 207 397 8900 |
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| IFC Advisory Limited Financial PR and IR Tim Metcalfe, Florence Chandler | +44 (0) 20 3934 6630 baronoil@investor-focus.co.uk
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