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Steve Brown

UKCS License P2320 – Phase ‘A’ extension and Resource Update

By Company & Media news, Announcements

Orcadian Energy (AIM:ORCA), the North Sea focused, low emissions, oil and gas development company, is pleased to announce an extension to Phase ‘A’ of Licence P2320 and a resource update.

Highlights:
Phase ‘A’ of Licence P2320 extended to 14th May 2023 with the Initial Term also being extended to 14th November 2024
Company has completed a new interpretation of the recently reprocessed seismic data, licensed from TGS in July 2021
Company estimates that the development area oil-in-place, for Pilot, will increase by about 10% to 15%, compared to the previously estimated and audited volume

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Results for the half year ended 31 December 2021

By Company & Media news, Announcements

Orcadian Energy (AIM: ORCA), the North Sea focused oil and gas development company, is delighted to announce its unaudited results for the six months ended 31 December 2021.

Activity Focus: 

To improve the technical and commercial definition of the Pilot development project
To finance the Pilot development project
To explore every avenue to maximise the value in our satellite discoveries and prospects
To propose a practical means to electrify the Central North Sea (“CNS”) and to develop a business model enabling Orcadian to benefit from this work

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Transfer of Shareholding

By Announcements

The Company was notified today that on 17 December 2021 Stephen Brown, a director of the Company and his wife, Julia Cane-Honeysett, have transferred their entire holding of ordinary shares in the Company to a third party nominee, Ferlim Nominees Limited, for nil consideration.

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2022 Annual General Meeting

By Announcements

Orcadian Energy (AIM: ORCA), the North Sea focused oil and gas development company, announces that it has today posted to Shareholders its report and accounts for the period ended 30 June 2021 (see announcement of 16 December 2021) and also dispatched the Notice of its Annual General Meeting of the Company (the “AGM” or “Annual General Meeting”).

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