Last updated on 15 July 2021
AIM Rule 26
Company’s admission document
Please click on the following link to find the company’s admission documents:
Description of business
Orcadian Energy (AIM:ORCA) is a North Sea focused oil and gas development company. The Company’s key asset is the 100% interest in the Pilot oilfield, with proven and probable reserves of 78.8 million barrels (audited by Sproule BV). The Company also has 77.9 million barrels of 2C contingent resources (development on hold) in the Elke, Narwhal and Blakeney discoveries.
The Group’s strategy is to identify discovered resources, preferably well appraised and most likely on the UKCS; to secure access to those resources; and to create a profitable field development plan which attracts finance either from oil industry partners or financial investors.
Orcadian is listed on the Alternative Investment Market (“AIM”) of the London Stock Exchange under the stock symbol ORCA.
Main country of operation
Orcadian Energy plc’s main country of operation is the United Kingdom.
Number of AIM securities
| Capital Structure | Number of Shares | Percentage |
|---|---|---|
| Issued share capital | 63,755,174 | 100% |
| Shares in issue but not in public hands | 42,004,752 | 66% |
| Free float | 21,750,422 | 34% |
Significant shareholders
| Directors and Significant shareholders | Number of Shares | Percentage |
|---|---|---|
| Stephen Brown and his wife, Julia Cane-Honeysett | 29,164,683 | 45.7% |
| Greg Harding | 8,191,680 | 12.8% |
| RAB Capital Holdings Ltd and connected parties | 5,357,143 | 8.4% |
| Alan Hume | 3,808,389 | 6.0% |
| Janus Henderson* | 2,150,000 | 3.4% |
| Joe Darby | 420,000 | 0.7% |
| Christian Wilms | 420,000 | 0.7% |
Board of directors
Stephen Brown
Chief Executive Officer
Alan Hume
Chief Financial Officer
Greg Harding
Technical Director
Joe Darby
Non-Executive Chairman
Christian Wilms
Non-Executive Director
Tim Feather
Non-Executive Director
Stephen Brown
Chief Executive Officer
- Petroleum engineer with nearly forty years of experience with BP, Halliburton, Challenge Energy, Petrofac and Setanta Energy.
- Commercial, project development and operational background.
- Led Harding pre-project team for BP and was the first Andrew operations manager during the project execution phase.
- Founder of Challenge Energy (now part of SLR), Exile Resources (now Oando Energy Resources), Setanta Energy and Orcadian Energy.
Alan Hume
Chief Financial Officer
- A highly expert and experienced CFO with a diverse background in the oil and gas exploration and production sector as well as the broader energy market.
- Held senior finance, commercial and operational roles in the oilfield services, engineering, construction and energy production sectors.
- Significant experience with both private equity backed companies and publicly listed entities.
- A Fellow of the Chartered Institute of Management Accountants.
- Halliburton, Brown & Root, Rockwater, Xtract Energy plc, Elko, Zenith Energy, Edison Mission Energy.
Greg Harding
Technical Director
- Chartered engineer with over thirty years of experience as a petroleum and reservoir engineer.
- Broad oil and gas industry experience including offshore production operations, reservoir development planning, feasibility studies, asset evaluation and joint venture asset management.
- BG, Gaffney Cline, Union Texas, Kerr McGee, Challenge Energy & Setanta Energy.
Joe Darby
Non-Executive Chairman
- Former Chief Executive of LASMO plc.
- Worked for Shell Petroleum before becoming Managing Director of Thomson North Sea Ltd. He has held a number of senior roles in the oil & gas business.
- Mr Darby is currently a Non-Executive director at Gulfsands Petroleum plc and was the senior independent director at Premier Oil plc for six years.
- He has held non-executive roles at Alkane Energy plc, Nordaq Energy plc, British Nuclear Fuels plc, Mowlem plc, Bowleven plc and Centurion Energy Inc.
- He was Chairman of Mowlem plc (2005-2006) and Faroe Petroleum plc (2003-2007) and an advisor to the board of Setanta Energy (2011-2013).
Christian Wilms
Non-Executive Director
- Senior Vice-President Subsurface & Field Development MOL Group accountable for development projects, reserves and providing functional leadership to MOL’s subsurface staff.
- Previously 21 years with Shell International E&P in different technical and leadership roles covering various geographies including Netherlands, Nigeria, Qatar, USA and UK.
- Experienced in complex field developments including water flooding and enhanced oil recovery including steam drive and polymers.
Tim Feather
Non-Executive Director
- Trained as a lawyer and now a Qualified Chartered Accountant with 30 years of experience in the financial industry.
- Currently the Chief Financial Officer of Sumner Group Mining plc, and previously Business Development Director within the same group.
- Previously Corporate Finance Director at WH Ireland where he was a Qualified Executive for AIM and acted as retained adviser for a portfolio of AIM quoted clients in a wide range of sectors including mining, oil and gas, healthcare and technology.
- A co-founder of Westhouse Securities, Mr. Feather also previously worked for Brown Shipley & Co. Limited, Henry Cooke Lumsden and Touche Ross (now Deloitte).
Details of key advisers
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Constitutional documents
The Articles of Association of the Company are available to download below.
Notifications
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Details of other exchanges
Orcadian Energy plc is quoted on the London Stock Exchange (AIM) with the stock symbol ORCA. The Group does not have any other securities admitted or traded on any other Exchanges or Trading Platforms.
Corporate governance code
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UK city code on takeovers and mergers
The Company is subject to the UK City Code on Takeovers and Mergers
