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 […]
Tag: non-binding heads of agreement
Orcadian agrees non-binding deal to sell Crinan-Dandy
Orcadian Energy plc has entered into a non-binding heads of agreement with Rapid Oil Production Ltd to sell its interests in the Crinan and Dandy discoveries. NON-CORE ASSETS Mobil discovered Crinan and Dandy in 1987 and 1990 respectively, before they were appraised by Monument in 1998. Crinan straddles the boundary between Orcadian’s block of 21/28a and […]