Carrick has signed a non-binding heads of terms (HoT) with Orcadian Energy plc regarding a sub-area of Orcadian’s 100% P2320 Licence covering the Carra prospect in Block 21/28a. In return for an option for 50% interest in the Licence sub-area, Carrick undertakes to purchase new seismic data relating to the Carra prospect, work up the Carra prospect to drill-ready status, and manage a joint further farm-out process on the prospect.