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, […]
Tag: time extension
Scirocco secures more time to sell Ruvuma interest
Scirocco Energy plc has secured an extension to the long stop date for the sale of its 25% interest in the Ruvuma gas project in Tanzania. CONDITIONS PRECEDENT The company and purchaser ARA Petroleum Tanzania (APT) agreed to amend the date of the proposed $16 million transaction from 31 August 2023 to 30 September 2023. […]
Tullow granted more time for Gabon licences
Tullow Oil plc has increased its resource base in Gabon with the extension of several of its licences until 2046. TCHATAMBA The company said that government approval will add some 5mmbbls net 2P reserves that will deliver 100% 2P reserves replacement this year. “This activity is in line with the group’s strategy to focus on […]