TORTOLA, BRITISH VIRGIN ISLANDS – July 11, 2022: Orca Energy Group Inc. (“Orca” or the “Company” and includes its subsidiaries and affiliates) (TSX-V: ORC.A, ORC.B) today announces an operational update.
Jay Lyons, Chief Executive Officer, commented:
“We are very pleased with Orca’s strong operational performance year-to-date and the wider operational progress being made on a range of proactive investment opportunities, that will underpin our current production and our increased production capacity in the near to medium term. We remain focused on maintaining a strong liquidity position, while also balancing the attractive growth opportunities at Songo Songo field and returning value to our stakeholders. The second half of 2022 will be an intense period operationally, with the acquisition of 3D seismic over the Songo Songo licence to provide greater clarity on the contingent and prospective resource potential in the first half of 2023. With record additional gas sales, increased market share and accelerating gas demand into 2023, we have initiated a number of projects to potentially accelerate and sustain production potential to align with the burgeoning Tanzanian economy.”