Atlantic Petroleum, together with Iona Energy UK Limited (Iona) the Orlando Field Operator, has signed all necessary agreements with CNR International (U.K.) Limited ('CNR') the Operator of the Ninian Central Platform ('NCP') securing the offtake arrangements for the Orlando field development (Atlantic Petroleum 25% interest, and Iona 75% interest).
Orlando is a single well development which will tie-back to the NCP. The Field Development Plan was approved in April 2013. Orlando will initially deliver approximately 2,600 boe/d net to Atlantic Petroleum. The proven plus probable reserves were estimated by the independent reserves auditor Gaffney Cline Associates in 2013 to be 3.8MMboe net to Atlantic Petroleum.