Orcadian Energy plc announced that Christian Wilms will leave as a non-executive director (NED) on the board. The news comes as co-founder Greg Harding announced his retirement at the end of the year. The company said that Mr Wilms’ increasing executive responsibilities had made it difficult for him to dedicate the necessary time to his role […]
Tag: Orcadian Energy plc
Orcadian co-founder Greg Harding to retire
Orcadian Energy plc’s co-founder Greg Harding will retire at the end of 2022. In October 2013, he and Steve Brown established the company by screening relinquishment reports for a North Sea project of scale. “The board thanks Greg for his outstanding contribution to our understanding of the very best way to develop the Pilot field, […]
Orcadian signs farm-out for Carra prospect
Orcadian Energy plc has signed a farm-out agreement with Carrick Resources Ltd for a sub-area of licence P2320 which covers the Carra prospect, west of Aberdeen in the North Sea. TERMS The company will transfer the Carra interest to Carrick on completion of certain work milestones, not cash consideration. Carrick will review existing data, […]
Orcadian to raise £1 million via placing
Orcadian Energy plc said it is to raise £1 million gross through the placing of 2,857,143 ordinary shares to certain institutional and other investors at a price of 35 pence per share. DIRECTOR DEALING Chief financial officer Alan Hume has subscribed for 228,571 placing shares for £80,000, taking his total held to 4,036,960, representing 6.1% of the enlarged […]
Orcadian signs data deal with TGS
Orcadian Energy plc has signed a seismic licensing deal with the energy data company TGS for its North Sea licences. AGREEMENT The agreement will give Orcadian high quality seismic data, revealing the reservoir structures and likely fluid type. Data will be used to evaluate the “multitude of development opportunities and prospects”. The company added that […]
Orcadian submits draft FDP and starts Pilot farm-out process
Orcadian Energy plc said it had submitted a draft field development plan to the North Sea Transition Authority (NSTA) and started a structured farm-out process for the Pilot oilfield, off the west coast of Aberdeen. PILOT The company also noted that the new Energy Profits Levy had “transformed economics of North Sea investment for tax-paying […]