Baron Completes Phase-1 of Production Enhancement Program

Baron has completed Phase-1 of its production enhancement program. Baron also has begun the evaluation process for a number of bolt-on acquisition opportunities.

Management Comments

Ronnie L. Steinocher, CEO, commented, "We are moving along on our production enhancement program and have already completed Phase-1, which consisted of returning two wells to production. Phase-2 will add additional produced fluid capacity and water disposal to select producing wells which will also add to our daily production. Phase-3 will be to bring a few shut-in wells back on stream. Our plan is to have all Phases completed by the end of August. The enhancement goal is to increase current production by 20-30%."

Mr. Steinocher further noted, "We have recently been in contact with a few sellers about acquiring production within our existing area of operations and have started to evaluate these opportunities. Any new production acquisitions would be accretive and operated by Baron. We are targeting bolt-on opportunities that will increase our current production by 25-50%."