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Steve Brown

Share Price Movement Update

By Announcements

Orcadian notes the significant rise in the Company’s share price today. The Board confirms that it is not aware of any specific reason for this increase. The Directors are aware of the positive support given by the UK Government on 31 July 2023 to the future of the oil and gas industry focussed on the UK Continental Shelf.

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Results for the Half Year ended 31 Dec 2022

By Company & Media news, Announcements

Completed a revision of the technical resources on Pilot which resulted in an 18.4% upgrade to the P50 case
Entered into a Memorandum of Understanding with SLB (formerly Schlumberger) for the exclusive provision of drilling and completion services and equipment for the Pilot project
Progressed the reprocessing of the Catcher North seismic survey with TGS and started quantitative interpretation work
Prepared 33rd Round applications (submitted 12 January 2023) which included a 114 bcf gas discovery and a 153 bcf near drill-ready prospect.
Identified two new low-risk exploration prospects with P50 prospective resources of 120 MMbbl and 70 MMbbl (after the reporting period)

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