Baron Oil increases interest in North Sea licence

Work on the outstanding Phase A technical work commitments is ongoing with the key component, that of 3D seismic reprocessing, expected to be delivered during the first half of 2022. The company's board believes that this will provide the partners sufficient time to mature the Dunrobin prospect and to engage with potential drilling partners in due course. Baron has the role of technical overseer in relation to the licence's remaining Phase A work commitments.

Dunrobin is evaluated by Baron to be one of the few remaining targets yet to be drilled in the UK North Sea with estimated gross mean prospective resources of the order of 100 million barrels (a non-SPE PRMS compliant estimate). The Beatrice field c.20 km north of Dunrobin produced over 140 million barrels from the same petroleum system.

Well costs are expected to be modest at c. £7 million gross as the prospect lies in shallow water of less than 100 m and the total drilling depth of the well is prognosed to be approximately 660 m.

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