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June 26, 2019 Orca Exploration confirms declaration of July 31, 2019 dividend
TORTOLA, British Virgin Islands, June 26, 2019: Orca Exploration Group Inc. ("Orca" or the "Corporation") announces that its Board of Directors has received the certificate of the Chief Financial Officer referred to in its press release of May 29, 2019 and confirms that the Board of Directors has declared a cash dividend (the "Dividend") of $0.06 (Cdn) per Class A Common Voting Share of the Company ("Class A Shares") and $0.06 (Cdn) per Class B Subordinate Voting Share of the Company ("Class B Shares") payable to the holders of Class A Shares and Class B Shares of record on June 30, 2019 and payable on or about July 31, 2019. [more...]

June 10, 2019 Orca Exploration Group Inc. announces Normal Course Issuer Bid
TORTOLA, British Virgin Islands, June 10, 2019: Orca Exploration Group Inc. ("Orca" or the "Corporation") announces its intention, subject to the approval of the TSX Venture Exchange (the "Exchange"), to initiate a Normal Course Issuer Bid (the "Bid") for purchase of its Class B Subordinate Voting Shares ("Class "B" Shares") through the facilities of the Exchange and alternative trading systems in Canada. [more...]

May 31, 2019 Orca Exploration Board of Directors rejects unsolicited non-binding proposal from Swala Oil & Gas (Tanzania) PLC
Orca Exploration Group Inc (TSX-V: ORC.A, ORC.B) announced that its board of directors has unanimously rejected an unsolicited non-binding proposal of Swala Oil & Gas (Tanzania) PLC ("Swala") to acquire Orca Exploration Group for CDN$7.50 per Class A and Class B Orca shares. [more...]

ORCA EXPLORATION GROUP

Orca Exploration's mission is to benefit our shareholders, employees and partners through the exploration and development of oil and gas resources in proven underdeveloped hydrocarbon basins.

Orca Exploration is an international public company engaged in hydrocarbon exploration, development and supply of natural gas in Tanzania and oil and gas exploration in Italy. Orca and its employees are committed to ethically, socially and environmentally responsible development.

Orca Exploration Group Inc. operates the 879 Bcf Songo Songo natural gas field under a Production Sharing Agreement (PSA) with the Tanzania Petroleum Development Corporation (TDPC). 195 Bcf is allocated for use by Songas Limited and 684 Bcf is produced, marketed and sold by Orca Exploration. The license has a total area of approximately 41,630 acres (170 km2). The blocks are located in shallow water approximately 15 kilometres off the coast and 200 kilometres south of Dar es Salaam. The license contains the large Songo Songo gas field which is positioned on and slightly offshore Songo Songo Island. The main reservoir is developed in Lower Cretaceous aged Neocomian to Albian sandstones (Neocomian), while Upper Cretaceous aged Cenomanian sands that lie unconformably on the Lower Cretaceous provide additional reservoir when developed.

As at 31 December 2011 the independent reserve evaluator, McDaniel and Associates Consultants Limited, assessed the Additional Gas proven (1P) and proven and probable (2P) Songo Songo reserves available to Orca to the end of the licence period at 469 Bcf and 584 Bcf respectively.  Orca management estimates that the total Mid Case reserves (Protected Gas plus Aditional Gas) from the Songo Songo Field and the Songo Songo North discovery is 1,079 Bcf as at 31 December 2011.

Orca operates a gas processing facility on Songo Songo Island on behalf of Songas Limited, the gas processing facility owner, on a no loss, no gain basis. The plant supplies natural gas to a 25 km 12” marine pipeline and a 207 km 16” land pipeline that extends north along the coast to Dar es Salaam. Songo Songo is Tanzania’s first natural gas development.

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