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Even a few of our detractors have now come around
The last 6 months has seen a push and pull between two opposing views – the “need” for green energy and the real need for cheap energy. The former does not result in the later – far from it. Despite what the BBC and many others, would claim these are two largely incompatible objectives, unless we change the society we live in. At some point progress has to be made to reconcile the two opposing views and face the reality – we need new oil and gas UK based production of scale. I see Orcadian Energy (ORCA) leading the way in illustrating how we can achieve this outcome.
I wrote about Orcadian Energy (ORCA) when it first listed on the AIM market in the summer. It has substantial 2P reserves in the Pilot field and significant 2C in the surrounding acreage. It’s looking to farm out a secondary asset for others to input the time and cost to move it forward, leaving the company to focus on core projects. In my opinion this outline deal is a smart move.
Since WH Ireland listed this company on AIM a month or so ago it is biased. And since I own a few shares and the CEO Steve Brown is a good chap from God's chosen lands of Ulster, I too am biased. But if you want to read the note and WH Ireland's logic it is below.
It has come to my attention that Steve Brown, the CEO of Orcadian Energy (ORCA) is the latest victim of the MSM obsession with closing down debate about climate change. Steve has deleted his twitter account following a report by Channel 4 (https://www.channel4.com/news/revealed-north-sea-oil-company-chief-exec-claims-climate-emergency-is-fake) that his personal twitter account expressed views about climate change and global warming which did not accord with the worshiping of Greta. History informs and teaches us and explains why my blood boils at this latest manifestation of the “cancel culture”.
Today has seen a new entrant to the AIM oil & gas sector of the market – Orcadian Energy (ORCA). I am a self-declared Victor Meldrew – grumpy odd sod who sees the only rain later when the sun is shining, and any downside has to be highlighted. But I know a genuine “Buy One Get One Free” deal when I see it. Not those marketer driven “pump the price then make the offer” deals so many supermarkets like. I mean the genuine miss-priced bargain deals. In my view Orcadian is in this special category of miss-pricing and I am likely to be buying as you are reading this article.
