Orcadian Energy plc has agreed an extension until 13 June 2024 to pay the US$1 million loan to Shell. AGREEMENTS The original repayment was 23 August 2023 which was twice extended to 13 March 2024. The company said that the new extension allowed time to process the $3.1m sale of a 81.25% interest in its […]
Tag: Licence P2244
Orcadian granted conditional further two years for Pilot
Orcadian Energy plc has been granted a conditional two-year extension to the second term of production licence P2244 containing the Pilot oil field. FARM-OUT Based on Orcadian’s and the proposed operator’s intended work, the North Sea Transition Authority will change the licence’s expiry date from 30 November 2023 to 30 November 2025. The company last […]
Orcadian agrees non-binding 81.25% farm-out for Pilot
Orcadian Energy plc has agreed a non-binding, 81.25% farm-out with an as yet unnamed North Sea operator for the potential development of the Pilot project. TERMS The company, which now holds £90,000 and six months to repay $1m million to Shell, has granted the operator an exclusive period until 30 November 2023 to complete the […]
Orcadian licenses 3D seismic data for Pilot-Blakeney-Bowhead
Orcadian Energy plc has licensed a 3D seismic dataset covering the Pilot and Blakeney discoveries and the Bowhead prospect within block 21/27 in the North Sea. POTENTIAL The dataset received from TGS was shot during 2011 and 2012 and reprocessed to focus on the Tay discoveries and prospects during 2018 and 2019. Orcadian said that […]