Orcadian is pleased to note the recent press release from the Government of the United Kingdom that they intend to legislate to require the North Sea Transition Authority (NSTA) to invite applications for new oil and gas production licenses on an annual basis,
Orcadian Energy (AIM:ORCA), the low-emissions North Sea oil and gas development company, is pleased to announce its audited results for the twelve months ended 30 June 2023.
Orcadian is pleased to confirm it has executed a conditional Sale and Purchase Agreement (“SPA”) with Ping Petroleum UK plc (“Ping”) for the farm-out of an 81.25% interest in the Company’s flagship asset, the Pilot Development project (Licence P2244) (the “Transaction”)
Further to the announcements of 18 September 2023 and 25 October 2023 the Company provides the following update on its potential farm-out of its flagship asset the Pilot development project (Licence P2244). The Company has today agreed with the potential operator (the “Operator”) a seven day extension, from 30 November 2023 until 7 December 2023 (the “New Deadline”) for the Operator to execute definitive documentation for an overall farm out deal.
Orcadian is pleased to note the recent press release from the Government of the United Kingdom that they intend to legislate to require the North Sea Transition Authority (NSTA) to invite applications for new oil and gas production licenses on an annual basis,
Orcadian is pleased to announce that the North Sea Transition Authority (NSTA) has confirmed to the Company that the NSTA is prepared to agree an extension to the Second Term of Licence P2244,
Orcadian is pleased to announce that it has today raised gross proceeds of £350,000 through the issue of 2,916,666 new ordinary shares of the Company (the “New Ordinary Shares”) at a price per New Ordinary Share of £0.12.
Orcadian has entered into a non-binding Heads of Agreement (“HoA”) with a North Sea operator (the “Operator”), which details a potential farm-out of the Pilot development project.
Orcadian Energy plc is pleased to advise that yesterday its subsidiary, Orcadian Energy (CNS) Ltd (“Orcadian CNS”), executed an agreement to amend the repayment date in its secured, facility agreement with Shell International Trading and Shipping Company Limited (“STASCO”). The repayment date of the Loan has now been extended to 13 March 2024.
Orcadian announces that following extensive discussions with the North Sea Transition Authority (“NSTA”) that the NSTA has declined Orcadian’s request to extend Phase A of Licence P2320 (the “Licence” or “P2320”). As a consequence the Licence determined (expired) on 14 May 2023.
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)
Orcadian Energy (AIM: ORCA), the low-emissions North Sea oil and gas development company, is pleased to provide an update of its applications in the 33rd Offshore Licensing Round (“the 33rd Round”) which closed last week.
Orcadian has entered into a non-binding Heads of Agreement (“HoA”) with Rapid Oil Production Ltd (“Rapid”) to dispose of its interests in the Company’s non-core Crinan and Dandy
Management has completed an update of their estimate of technically recoverable resources for the Pilot field
Technically recoverable resources have increased 18% to 97 MMbbl for a P50 case based upon a polymer flood development scheme
Orcadian Energy (AIM:ORCA), the low-emissions North Sea oil and gas development company, is pleased to announce its audited results for the twelve months ended 30 June 2022.
Orcadian has entered into a binding Memorandum of Understanding (MoU) with SLB (formerly Schlumberger) to deliver core services for the wells on the Company’s Pilot project.
SLB made a compelling commercial and technical proposal with a strong focus on decarbonisation.
The parties now plan to develop a comprehensive Project Agreement for provision of the services.
Orcadian Energy (AIM: ORCA), the low-emissions North Sea oil and gas development company, is delighted to announce the North Sea Transition Authority (NSTA) has granted Orcadian a one-year extension to licence P2244, which contains the Pilot field.
Orcadian Energy (AIM:ORCA), the low-emissions North Sea oil and gas development company, is pleased to announce that, further to the announcement of 11 October 2021, the Company has now executed a formal agreement with Carrick Resources Limited (“Carrick”) in respect of a sub-area of Licence P2320 which covers the Carra prospect (“Carra”) (the “SPA”).
Orcadian Energy (AIM:ORCA), the low-emissions North Sea oil and gas development company, is pleased to announce that the North Sea Transition Authority (“NSTA”) published, this morning, the full report prepared by the Company and its partners, for the Platform Electrification competition launched in September 2021.
Orcadian Energy (AIM:ORCA), the low-emissions North Sea oil and gas development company, is pleased to announce a seismic licensing deal with the energy data company TGS. The agreement will provide Orcadian with high quality seismic data, revealing the reservoir structures and even the likely fluid type.
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