Orcadian Energy PLC - oil and gas development company - Further to announcements in May, June and earlier this month, company says the funds expected from the industry partner by Friday have not yet arrived. The industry partner remains engaged in seeking a funding solution. Shell International Trading and Shipping Co Ltd has written to the company reserving their rights under the facility agreement and other finance documents. Orcadian has kept STASCO fully informed of the status of the funding arrangements and discussions continue with both the partner and STASCO.

Current stock price: 8.39 pence

12-month change: up 124%

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