Baron Oil Plc announced certain changes to its Board of Directors to reflect the Company's current strategic focus on its South East Asian business where Baron has an experienced and capable team, with a genuinely material asset in the Chuditch gas project in Timor-Leste. Mr. John Wakefield, Non-Executive Chairman, and Mr. Andy Yeo, Chief Executive Officer, have both informed the board of their intentions to resign from their positions on the Board. Dr. Andy Butler (currently Director Asia-Pacific) is taking on the role of Chief Executive Officer with immediate effect.

Andy Yeo will remain on the Board until the end of March 2024 to ensure an orderly transition of responsibilities to the new Chief Executive Officer. John Wakefield will step down from the Board once a new Non-Executive Chair has been appointed. The process for the appointment of a new Non-Executive Chair is underway, with suitable candidates already under consideration by the Board.

Any such appointment to the board will be subject to, inter alia, the customary due diligence and appropriateness checks by the Company's nominated adviser regarding the suitability of new directors and Board composition as required under the AIM Rules for Companies and the AIM Rules for Nominated Advisers.