Peru Block XXI – Release of Guarantee Bond

RNS Number : 2342O

Baron Oil PLC

09 June 2022

9 June 2022

BARON OIL PLC

("Baron Oil" or the "Company")

Peru Block XXI - Relinquishment and Release of Guarantee Bond

Further to the Company's announcement of 19 April 2022, Baron Oil (AIM: BOIL), is pleased to announce the relinquishment of its legacy Licence Block XXI in Peru and the release and successful return of its US$160,000 Bank Guarantee.

Through its fully owned subsidiary in Peru, Gold Oil Peru SAC, the Company continues to work with Perupetro SA (the Peruvian national Oil & Gas Agency and Licensing Authority) to establish and file an Abandonment Plan.

As previously announced, the Company will be holding its Annual General Meeting ("AGM") on 28 June 2022, and it intends to issue an AGM Statement on the day of the AGM. Following the conclusion of the formal business of the AGM, the Company will be holding a question and answer session for those attending.

For further information, please contact:

Baron Oil Plc		+44 (0) 20 7117 2849
Andy Yeo, Chief Executive

Allenby Capital Limited		+44 (0) 20 3328 5656
Nominated Adviser and Broker
Alex Brearley, Nick Harriss, Nick Athanas (Corporate Finance) Kelly Gardiner (Sales and Corporate Broking)
IFC Advisory Limited		+44 (0) 20 3934 6630
Financial PR and IR
Tim Metcalfe, Florence Chandler

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