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Colter & Wick - Drill Rigs Letter of Intent Signed
Colter & Wick - Drill Rigs Letter of Intent Signed.
About this update from Sunda Energy Plc
[{"type":"text","content":"\n \nRNS Number : 0361O Baron Oil PLC 15 May 2018 \n\nMarket Abuse Regulation (MAR) Disclosure\nCertain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.\n \n15 May 2018\n \nBaron Oil Plc\n(\"Baron Oil\" or \"the Company\")\n \nLetter of Intent signed for provision of rig to drill Colter and Wick Prospects\n \n \nBaron Oil (AIM: BOIL) is pleased to note the announcement made yesterday evening by Corallian Energy Limited (\"Corallian Energy\"), as operator of UK Seaward Production Licences P1918 (UKCS Block 98/11a) and P2235 (UKCS Block 11/24b), that it has entered into a letter of intent for the provision of a jack-up rig to drill the Colter and Wick wells.\nCorallian Energy's announcement stated:\n\"Corallian Energy has entered into a letter of intent (LOI) with UK based drilling contractor Ensco U.K. Ltd for the provision of a jack-up drilling unit to drill its Colter and Wick wells. Within the LOI the parties have agreed, subject to approvals and consents, headline terms for a suitable unit to conduct drilling operations in Q3/4 2018.\"\nEnsco U.K. Limited\nEnsco U.K. Ltd, a subsidiary of Ensco plc, is a global provider of offshore drilling services to the petroleum industry. The Ensco Group's extensive fleet of 64 offshore units is the world's largest and includes drillships, dynamically-positioned semisubmersibles, moored semisubmersibles and jack-up rigs. Ensco plc is quoted on the New York Stock Exchange and is headquartered in London, with offices around the world.\nMalcolm Butler, Chairman & CEO of Baron Energy PLC, said:\n\"The signature of this letter of intent with Ensco represents an important step in preparing to drill the exciting Colter and Wick Prospects later this year. We will keep shareholders informed of progress as we move towards the commencement of operations.\"\n \nFor further information, please contact:\n\n\n\nBaron Oil Plc\n\n\n+44 (0)1892 838 948\n\n\n\n\nMalcolm Butler, Chairman & Chief Executive Officer\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nSP Angel Corporate Finance LLP\n\n\n+44 (0)20 3470 0470\n\n\n\n\nNominated Adviser and Broker\n\n\n\n\n\n\n\nLindsay Mair, Richard Hail, Richard Redmayne \n\n\n\n\n\n\n \n\nThis informat...