Market's view on Baron Oil
Published on April 2024
- Baron Oil is actively seeking investors for a low-risk appraisal drilling campaign at the Chuditch gas field offshore East Timor, with potential interest from large entities such as Eni, Inpex, Santos, Petronas, and Chinese national oil companies.
- Stock watchers are speculating that Baron Oil’s stock price might see an increase upon securing funding, with expectations targeting around 0.20p.
- Observations suggest market makers are manipulating the stock’s visibility, with significant purchases not being disclosed, hinting at potential upward movement in stock prices.
- A stock watcher notes the clearing of an overhang and anticipates a move into the 0.080p - 0.10p price zone.
- News updates are anticipated imminently, including announcements about a rig contract and partnerships for drilling and farm-out, which could significantly revalue the company.
- There is speculation about a major new development coming from Timor which could impact the market.
- Stock watchers outline the sequential steps expected from the company, including rig contract, farm-out, environmental approvals, rig mobilisation, well spud, and flow test results.
- Recent board and executive changes have been positively received due to the strong backgrounds of the new appointees, which include experienced professionals from the financial and natural resources sectors.
- A stock watcher expresses hope for substantial news to emerge from the company following repeated promises and delays, emphasizing the necessity for a strong partner or a complete buyout.
- The revamped board and executive team at Baron Oil are focused on enhancing shareholder value and advancing the Chuditch project, with ongoing discussions with potential funding partners.
- Share price targets are optimistic, with predictions of significant rises based on successful drilling operations.