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Announcements

Shell Facility Agreement

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Orcadian Energy (AIM:ORCA) announces that, further to the announcements on 22 May 2024 13 June 2024, and 1 July 2024, the funds expected from the industry partner by today have not yet arrived. The industry partner remains engaged in seeking a funding solution.

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Loan Repayment Extension

By Announcements

Orcadian Energy (AIM:ORCA) is pleased to announce that, further to the announcements on 22 May 2024 and 13 June 2024, Shell International Trading and Shipping Company Limited (“STASCO”) has agreed an extension to the repayment date to 5 July 2024.

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33rd Licensing Round Offer of Award

By Announcements, Company & Media news

Orcadian Energy (AIM: ORCA) is delighted to announce the completion of the previously announced farm-out of an 81.25% interest in licence P2244, which contains the Pilot field, to Ping Petroleum UK plc (“Ping”). Ping is focused on shallow water offshore production and development opportunities and has a significant acreage holding to the East of Pilot. This means that Orcadian Energy retains an 18.75% interest in the Pilot field development, fully carried to the first offload of oil produced from the field. Orcadian has no requirement to fund the pre-production development project work programme.

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Completion of Pilot Farm-out

By Announcements, Company & Media news

Orcadian Energy (AIM: ORCA) is delighted to announce the completion of the previously announced farm-out of an 81.25% interest in licence P2244, which contains the Pilot field, to Ping Petroleum UK plc (“Ping”). Ping is focused on shallow water offshore production and development opportunities and has a significant acreage holding to the East of Pilot. This means that Orcadian Energy retains an 18.75% interest in the Pilot field development, fully carried to the first offload of oil produced from the field. Orcadian has no requirement to fund the pre-production development project work programme.

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