TORTOLA, British Virgin Islands, Aug. 07, 2024 (GLOBE NEWSWIRE) -- Orca Energy Group Inc. ("Orca" or the "Company" and includes its subsidiaries and affiliates) (TSX-V: ORC.A, ORC.B) announces that its 100% wholly-owned subsidiaries, PanAfrican Energy (Tanzania) ("PAET") and Pan African Energy Corporation (Mauritius) ("PAEM"), have issued a notice of dispute in respect of an investment treaty claim under the Agreement on Promotion and Reciprocal Protection of Investment between the Government of the Republi ...

On July 26, 2024, TPDC sent several letters to PAET and Songas in which it clearly indicated that it will continue to treat any natural gas produced from the Discovery Blocks after July 31, 2024 as Protected Gas, including its stated intention to extend the transfer and assignment to Songas of the right to explore for and develop Protected Gas. PAET has confirmed that it will not consent to such an amendment. Update on Negotiations In 2001, TPDC assigned to Songas the exclusive right to explore for and deve ...

Net Income (Loss)4 Q2 24 Q2 24 $(0.09) $8.58 Total Return 2 Q2 24 Q2 24 (1.97)% $0.36 Orchid Island Capital (NYSE:ORC) reported earnings last week where results were mostly in line with expectations. The company reported a net loss of 9 cents per share for the quarter, and its book value dropped from $9.12 to $8.58 during the quarter. The total return margin carne at -1.97%, significantly down from the previous quarter's 4.18%. Despite these worsening conditions, the company kept its dividend same as before ...

8 1 Forward-Looking Information The forward-looking statements are based on our beliefs, assumptions and expectations of our future performance, taking into account all information currently available to us. You should not place undue reliance on these forward-looking statements. These beliefs, assumptions and expectations can change as a result of many possible events or factors, not all of which are known to us. Some of these factors are described under the caption ''Risk Factors'' in our Annual Report on ...

Orchid Island Capital, Inc. (NYSE:ORC) Q2 2024 Earnings Conference Call July 26, 2024 10:00 AM ET Company Participants Robert Cauley - Chairman and CEO Hunter Haas - CFO Conference Call Participants Jason Stewart - Janney Eric Hagen - BTIG. Mikhail Goberman - Citizens Christopher Nolan - Ladenberg Thalman Jim Fowler - Kingsbarn Capital Operator Hello, good morning and welcome to the Second Quarter 2024 Earnings Conference Call of Orchid Island Capital. This call is being recorded today, July 26, 2024. At th ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Orchid Island Capital, Inc. | --- | --- | |----------------|-------| | | | | | | | | | | | | | | | | 27-3269228 | | | | | | | | | (I.R.S. | | | | | | Identification | | Securities registered pursuant to Section 12(b) of the Act: Indicate by check mark whether the registrant has submitted electronically every Interactive ...

Exhibit 99.1 ORCHID ISLAND CAPITAL ANNOUNCES SECOND QUARTER 2024 RESULTS VERO BEACH, Fla. (July 25, 2024) – Orchid Island Capital, Inc. (NYSE:ORC) ("Orchid" or the "Company"), a real estate investment trust ("REIT"), today announced results of operations for the three month period ended June 30, 2024. Second Quarter 2024 Results Other Financial Highlights Management Commentary Commenting on the second quarter results, Robert E. Cauley, Chairman and Chief Executive Officer, said, "The long-awaited pivot on t ...

Earnings Results - Orchid Island Capital (ORC) announced an unchanged monthly dividend of $0.12 per share for July 2024, consistent with June 2024, following a 25% reduction in October 2023 [6] - The company issued 12.0 million shares of common stock during Q2 2024, representing 23% of outstanding shares as of March 31, 2024, to invest in higher coupon fixed-rate agency MBS [6] - The current book value (BV) per share is projected at $8.60, with a reported BV of $8.58, indicating a slight miss of 0.23% [8] Financial Metrics - The net spread less operational expenses metric, considered a core earnings equivalent, showed a minor variance of $0.003, indicating stability in core earnings despite a modest BV loss [11] - The reported earnings per share for Q2 2024 was -$0.092, slightly better than the projected -$0.095, reflecting a 3.16% improvement [8] - The dividend yield stands at 16.90%, with a payout ratio of -1631%, indicating a significant discrepancy between earnings and dividends [9] Market Position and Valuation - ORC is considered modestly overvalued, with a recommendation to remain patient before investing until valuations improve [6] - The risk/performance rating for ORC remains at 4.5, reflecting the current market environment and expectations of "higher-for-longer" rates during 2024 [13][11] - The price to NAV ratio is 0.99, indicating that the stock is trading close to its net asset value [9] Commentary and Recommendations - Management is encouraged to provide an updated core earnings equivalent metric that includes current period hedging income for better comparability with peers [10] - The company experienced a modest quarterly BV loss due to widening agency MBS spreads, which negatively impacted sector BVs [11] - A minor increase in the company's CPR was anticipated as it shifted towards investing in higher coupon MBS, which typically have higher prepayment rates [11]

Want $2000 Per Month In Passive Income? Invest $30,000 In These Stocks Sutthiphong Chandaeng / Shutterstock.com The Monday, April 29, 2024 installment of The Wall Street Journal featured an article titled, "Priced Out of the American Dream". While homeowners are seeing the value of their homes increase due to higher interest rates and feeling current reluctance to relocate under much more expensive mortgage and rent scenarios, the younger generations who are seeking a first home or looking to move to a larg ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to ___________ Commission File Number: 001-35236 Orchid Island Capital, Inc. (Exact name of registrant as specified in its charter) (State or o ...