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Steve Brown, Orcadian's CEO, commented:
"We are delighted to have reached this agreement, which sets out a potential pathway to production for the Company's Pilot field.
"The Pilot field has a substantial proven reserve base with material upside potential in the surrounding area. We are delighted this transaction could enable Orcadian to retain a significant interest in the project and to enjoy the long-term benefits of producing oil for the UK.
"Developing energy in our own backyard contributes to the UK's Energy Security and balance of payments; delivers long-term high-quality jobs; and minimises emissions associated with satisfying the UK's need for energy.
"We look forward to progressing the next stages of this proposed transaction and providing further updates."
Https://oilnews.substack.com/p/exploration-news-17-september-2023
Purchased my shares this morning and looking forward to an eventful few months ahead.
The company’s position now looks very promising and if they reach the targets they’ve have set it should be very profitable for everyone.
Thank you for the posters on this BB who have shared their research and knowledge which have helped me understand this little gem.
Good luck to everyone and have a good weekend.
Smiler/Hms I am genuinely sorry you have been caught out by the raise that I suspected would come.
I will be taking the opportunity to buy In tomorrow and hope to make a quick buck as the share price recovers and heads back up. That’s why I invest and my comments earlier this week were not to suppress the share price but just my honest opinion.
I and everyone else on these BB’s have pretty much zero influence.
I’ve been caught out previously several times but I’ve learnt to spot the signs but still learning everyday.
The company has great potential and with the funds they will no doubt start producing very soon and hopefully make you and myself a few quid on the way. Game is as always to get the timing right which isn’t easy.
All the best on your continuing investments. It beats working for a living.
Regards.
Tell someone with money what you have found and they’ll give you some money to fix the handle so you can dig out the gold. But they will own a portion of the spade and the gold 😀
Ref 10th September your post.
I’ve mentioned twice this week already that I think a raise is likely and the market would appear to have its own concerns as well. Obviously my comment was met with hostility and I understand that.
If the production figures are realised then a raise to get us to being up and running is not an issue and is just a necessary evil. Most small companies have to go down that route for additional finance and it is a regular occurrence.
So I think your concerns are correct and as stated already my powder is being kept dry and I’ll be going full in when the opportunity arises.
You stated just a few posts back that you were not going full in here due to your worries about - liquidity !!
That to me suggests you feel the company hasn’t the finances then perhaps.
Can you explain to me why a raise isn’t on the cards then.
Company need funds to push things forward.
Raise coming and I’m keeping my powder dry until then.
The market feels the same and with the news of slight delays, hence the drop yesterday.
Raise definitely around the corner and the SP will be restrained until that is taken up by the lucky few.
Great update and moving forward nicely.
That’s good as I’ve got plenty 😀
Our resident clown very quite over at PANR there this morning. Strange that.
PRD in a brilliant position and now with massive amounts of news and potential to flow our way over the next few months. Testing news is just weeks away and then hopefully people will appreciate the value here and the company can move forward to create even further wealth for its actual shareholders. The dross will then simply then slide away.
We have a really excellent team driving things forward and I’m also very happy to also sit back and just watch with amazement as they create something rather special.
Good luck to holders.
Nice strong RNS.
Very kind of you.
No Mumbo seems to entertaining him which of course he or she is totally free to do so but I think most of us would like to see the back of him and let this BB return to the informative and pleasant place it used to be.
News soon and positivity all the way.
Much appreciated
Re your Time to Buy heading.
This company popped up my radar with the sudden increase in the SP when the RNS dropped about SpaceX. Looks very interesting.
I’ve not bought yet but am watching carefully for the opportunity and attempting to research things a little more.
Absolute hands up that this industry is not my background and I am finding it hard to understand the potential real value here and where it would come from.
Appreciate any help where you see the SP over the next 12 months and the risks attached ie raises, debts, dilutions etc, etc.
Regards.
Hopefully I’m not speaking too soon but I think our very irritating fool has been been eradicated.
Fingers crossed that the BB can return to a lovely calm and knowledgeable place to pop into every now and then.
Good work and thanks to those who made it happen.
Over 180 pages of solid information and outstanding potential. Hopefully our kind experts will assist once they’ve had a chance to digest.
Credit to the Team for juggling so much and pushing this forward. Absolutely first rate and I take my hat off to them.
Looking forward to testing in a just a few weeks time and a nice tick up in the share price. Not that I’ll be selling any just yet.
Good to see some people taking advantage of the price today and topping up or getting in for the first time.
Obviously very few people listening to the idiots Nige and Louis who seem to have forgotten that most people on here are long term holders and have an average of 6p or under. Being 100% up in just a few weeks puts a large smile on my face and what a great BB this is with some excellent posters. Than you for your continued honest and professional updates and opinions.
The idiots will bang on but they are not invested, have an agenda and are boring as hell.
Good luck to all actual share holders and enjoy the very exciting period ahead.
It was only time.