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UK: Orcadian Energy announces intention to float on AIM
09 Jun 2021
Orcadian Energy, the North Sea focused, oil and gas development company, has announced its intention to seek admission of its shares to trading on the AIM market of the London Stock Exchange. Orcadian is also seeking to raise gross proceeds of c. £5 million to progress its assets.
Key highlights:
Orcadian is seeking Admission to support progress towards the commercialisation of its viscous oil assets located in the UK North Sea.
The Company’s key asset is the 100% interest in the Pilot oilfield, with audited proven and probable reserves of 78.8 million barrels (audited by Sproule BV).