In mid-November 2019 SundaGas Pte Ltd announced that it had entered into a reverse takeover with Baron Oil Plc to combine the companies. Under the terms of the non-binding Heads of Agreement (HoA) that the companies have signed, Baron will acquire SundaGas subsidiary SundaGas (Holdings) Pte Ltd. All SundaGas shareholders will be issued two newly issued shares, in the combined company, for every current share held. Baron Oil will be renamed SundaGas Plc.  The deal is subject to the companies completing a binding sales and purchase agreement as well as other conditions.  SundaGas (Holdings) Pte Ltd holds one asset in East Timor â the recently awarded TL-SO-19-16, which it holds in a joint venture with Timor GAP. It also has asset holdings in Indonesia.  Baron Oil is a London Stock Exchange listed company focussing on opportunities in the UK, Latin America and South East Asia.
East Timor, not found