REG - Orcadian Energy PLC - Change of Registered Office

Orcadian EnergyAnnouncement

11/06/2025 15:30

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RNS Number : 4527M  Orcadian Energy PLC  11 June 2025

11 June 2025

Orcadian Energy plc

("Orcadian" or the "Company")

Change of Registered Office

 

Orcadian Energy (AIM:ORCA) is pleased to announce that  with immediate effect
its registered office address has changed to Floor 2, 8 Bishopsgate, London
EC2N 4BQ.

 

For further information on the Company please visit the Company's
website: https://orcadian.energy (https://orcadian.energy/)

Contact:

 Orcadian Energy plc                                   + 44 20 7920 3150
 Steve Brown, CEO

 Alan Hume, CFO
 Zeus (Nomad and Joint Broker)                         +44 20 3829 5000
 Dan Bate / Alex Campbell-Harris (Investment Banking)

 Simon Johnson (Corporate Broking)
 Novum (Joint Broker)                                  +44 207 399 9425
 Colin Rowbury / Jon Belliss
 Tavistock (PR)                                        + 44 20 7920 3150
 Nick Elwes / Simon Hudson                             orcadian@tavistock.co.uk (mailto:orcadian@tavistock.co.uk)

 

About Orcadian Energy

Orcadian is a North Sea focused, low emissions, oil and gas exploration and
development company. Orcadian may be a small operator, but it is also nimble,
and the Directors believe it has grasped opportunities that have eluded some
of the much bigger companies. As we strike a balance between Net Zero and a
sustainable energy supply, Orcadian intends to play its part to minimise the
cost of Net Zero and to deliver reliable energy to the UK.

Orcadian's key asset is the Pilot oilfield. Pilot was discovered by PetroFina
in 1989 and has been well appraised. The field has excellent quality reservoir
and contains 263MMbbl of a viscous oil ranging in gravity from 17º API in the
South of the reservoir to 12º API in the North. In planning the Pilot
development, Orcadian has selected polymer flooding and wind power to
transform the production of viscous oil into a cleaner and greener process.
Polymer significantly reduces fluid handling requirements and hence energy
consumption as well as boosting recovery. Ithaca Energy has enjoyed consistent
success in applying polymer flood to the highly analogous Captain field in the
Inner Moray Firth. Following the recent farm-down of Pilot, the project is now
under the stewardship of Ping Petroleum UK PLC ("Ping") and is intended to
become amongst the lowest carbon emitting oil production facilities in the
world.

Ping is progressing a low-emissions, phased, field development plan for Pilot
based upon a polymer flood of the reservoir, a Floating Production Storage and
Offloading vessel (FPSO) and provision of power from a floating wind turbine
or a local wind farm.

Orcadian has an 18.75% fully carried interest in licence P2244 (block 21/27a)
and a 100% interest in licence P2482 (blocks 28/2a and 28/3a). Ping is
operator of P2244 and the Pilot development project.

Orcadian was awarded three licences in the 33(rd) round. The Mid-North Sea
High licence, P2650, contains shallow gas leads. Orcadian applied in
partnership with Triangle Energy, an Australian listed energy company.
Orcadian is licence administrator and holds 50% of the offered licence. The
Mid-North Sea High licence covers blocks 29/16, 29/17, 29/18, 29/19, 29/21,
29/22, 29/23, 29/27 and 29/28.

The Fynn licence, P2634, contains a very substantial heavy oil discovery.
About 88% of the resource on a best technical case is estimated to lie within
the area of the offered licence. Orcadian has a 50% working interest in the
Fynn licence which is now operated by Serica. The Fynn licence covers blocks
14/15a, 14/20d and 15/11a.

The SNS licence, P2680, 50% Orcadian on completion of a proposed transaction,
contains the Earlham discovery, a low-calorie gas discovery with 114bcf of
methane resources on a P50 basis, the Clover prospect which has P50
prospective resources of 153bcf, and the decommissioned Orwell field which has
redevelopment potential, alongside a number of smaller prospects. The Marine
Low Carbon Power Company Ltd, an affiliate of IPC, is intended to own the
other 50% of P2680 and will carry Orcadian to first gas.

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