Orcadian Energy plc has issued 273,749 ordinary shares to settle £35,000 of the face value of the December 2025 loan amount. TVRs Following the conversion, a total of £317,500 in aggregate face value of CLNs remains outstanding. On admission, the company’s total voting rights will be 80,260,726 ordinary shares. Orcadian holds oil and gas licence interests in the […]
Tag: Pilot oil field
Orcadian issues 781,634 shares
Orcadian Energy plc has issued 781,634 ordinary shares, which settles £100,000 of the face value convertible loan amount from December 2025. TVRs Following the conversion, a total of £352,500 face value CLNs remains outstanding. On admission, the company’s voting rights will be 79,986,977 ordinary shares. Orcadian holds UK North Sea oil interests which include the Pilot field, Elke […]
Orcadian to receive £500,000 in CLNs
Orcadian Energy plc has received £322,500 of a total £500,000 in unsecured convertible loan notes from existing and new investors. USES The explorer said it had agreements in place to sell the balance of the CLNs, with the proceeds expected by the end of January 2026. Arranged by the company, the CLNs mature on 31 […]
Orcadian given three more years for Pilot field
Orcadian Energy plc has been granted a three-year extension until 1 December 2028 to the second term of licence P2244, containing the Pilot field, in the UK central North Sea. POTENTIAL The company has an 18.75% carried interest in the licence, with Ping Petroleum UK plc holding 81.25% of the project. The Malyasian operator is […]
Orcadian given more time for Narwhal seismic
Orcadian Energy plc has secured more time to gather new 3D seismic data on the Narwhal field on licence P2482, east of Aberdeen in the central North Sea. HUB The phase B work on the licence, which also contains the Elke discovery, is now extended until 14 July 2027. Energy data firm TGS will shoot […]
Orcadian completes Pilot farm-out
Orcadian Energy plc has completed the 81.25% farm-out of central North Sea licence P2244, containing the Pilot oil field, to Malaysian operator Ping Petroleum UK plc. TECHNOLOGY Discovered in 1989, appraisal of Pilot showed “excellent quality reservoir and contains 263MMbbl of a viscous oil”. Orcadian said that Ping, focused on shallow water offshore production and […]