Baron Oil’s subsidiary, Gold Oil Peru, has signed a seismic services contract with Houston-based GSS for the Block XXI prospect in northwest Peru.
The deal is worth $1.5million and will be subject to environmental approval by Peruvian authorities.
Bill Colvin, Baron’s chief executive, said: “In anticipation of obtaining formal EIA approval from the government, we have moved to secure the equipment and services from GSS necessary to acquire the seismic data around the Minchales well area.
“We have been working closely with GSS to design the best seismic programme around this area using the extensive data already acquired from the original well and the subsequent Fugro work.”
Baron owns a 100% stake in the block.