Orcadian Energy Plc (GB:ORCA) has released an update.
Orcadian Energy Plc, a North Sea oil and gas exploration and development company, has encountered a delay in receiving expected funds from an industry partner, impacting their financial agreement with STASCO. Despite the setback, discussions continue with both the partner and STASCO to resolve the funding issues. Meanwhile, Orcadian remains committed to advancing its low-emissions Pilot oilfield project with Ping Petroleum and has also been offered new licences in the 33rd licensing round.
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