Exploration Activity / United Kingdom

The Company is targeting low tax regimes with friendly governments where there is a good chance of finding and producing oil and gas for sale into either the local or the international market. Our initial focus was onshore and offshore Peru but the very slow pace of approvals and the economic and technical challenges of deep-water.exploration caused us to withdraw from offshore Block Z-34. Instead, Baron is now concentrating on drilling its remaining onshore block in Peru./Other Areas and on participating in the drilling of wells on two near-shore, low to medium risk offshore blocks in the Unite Kingdom.

Baron entered into a Joint Study Group with SundaGas in late 2016, looking for new, high potential opportunities in SE Asia. A suitable opportunity was identified, and SundaGas submitted an application, but after a promising initial response, the relevant government has become bogged down in pollical and bureaucratic issues and there is concern that the application may fail.

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