8 January 2021 | 10:06am
StockMarketWire.com - Oil and gas exploration company Baron Oil reported a significant upgrade in estimated resources from the Chuditch PSC after SundaGas, which owns 75% of the PSC, mapped a new lead, Chuditch North East, within the area.
SandaGas TLS, in which Baron has a 33% stake, had requested a minimum 12-month extension to the current, initial licence phase of Chuditch.
SandaGas estimated the Chuditch North East lead to contain a gross Mean GIIP of 1,544 BCF.
That would take the aggregate estimated gross mean volumes within the Chuditch PSC including Chuditch-1 discovery, Chuditch North and Chuditch North East lead, to 4,703 BCF GIIP.