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 […]
Tag: Shell International Trading and Shipping Company Ltd
Orcadian secures further six months to repay $1m loan
Orcadian Energy plc has agreed a six-month extension to repay a £1 million loan to Shell International Trading and Shipping Company Ltd. OPTIONS The North Sea oil and gas company’s deadline for the third extension is now 13 March 2024. Orcadian, which currently holds £92,000 cash and a monthly burn rate of less than £20,000, […]
Orcadian agrees more time to repay £1m loan to Shell
Orcadian Energy plc has secured an extension to the repayment date of its $1 million loan plus interest to Shell International Trading and Shipping Company Ltd (Stasco). PILOT FIELD The deadline for repayment has been extended from today to 13 September 2023. Orcadian, which currently holds £95,000, said it was in discussions with Stasco for […]