AIM-listed Orcadian Energy, the North Sea focused oil and gas development company, has announced its unaudited results for the six months ended 31 December 2025.
Highlights:
- Secured a three-year extension to the Second Term of the Pilot Licence
- Completed the transfer of polymer flood reservoir modelling knowledge to the Ping sub-surface team
- Identified the potential to develop the Lowlander field as a tieback to local infrastructure
- Defined the scope of the Earlham development to include the sale of unprocessed gas to The Marine Low Carbon Power Company Ltd
- Cash position as at 31 December 2025 of £319,903
Post period Highlights:
- As previously announced on 30 December 2025, the Company has continued to receive funding through its convertible loan notes ("CLNs") investors of which £450,000 has now been received to date, with a balance of £50,000 outstanding
- Reached an in-principle agreement with Albion Labs Canada to issue royalties in return for cash as announced on 9 February 2026
Activity Focus:
- To support Ping in the sub-surface evaluation of Pilot
- To assist Ping in the preparation of a Concept Select Report for the Pilot development
- To support our partners in securing finance for the power station at the Earlham field
- To explore financing opportunities for the company by issuing royalty-based cash flow streams
Source: Orcadian Energy
