4 November 2022

Baron Oil Plc

("Baron", or the "Company")

Exercise of warrants and change to total voting rights

Baron Oil Plc (AIM:BOIL), the AIM-quoted oil and gas exploration and appraisal company, announces that it has received notice for the exercise of warrants to subscribe for 117,125,001 new ordinary shares of 0.025 p each in the Company ("Ordinary Shares").  The exercise price of these warrants is 0.1 p per new Ordinary Share. The exercise of these warrants will generate proceeds of £117,125 for the Company.

Following the exercise of these warrants there will be no further warrants over Baron's Ordinary Shares. 

Application has been made for the 117,125,001 new Ordinary Shares to be admitted to trading on AIM ("Admission") and it is expected that Admission will occur on or around 9 November 2022.

Upon Admission, the Company's issued share capital will consist of 14,450,737,462 Ordinary Shares with one voting right each. The Company does not hold any Ordinary Shares in treasury. Therefore, the total number of Ordinary Shares and voting rights in the Company will be 14,450,737,462. With effect from Admission, this figure may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the FCA's Disclosure Guidance and Transparency Rules.

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