Angus Energy PLC · LSE:ANGS
Angus Energy — Investor Presentation (February 2021)
24 slides from Angus Energy's investor presentation, February 2021
Slide 1: Transition Angus
Transition Angus Clean Gas in a Developed Country – presently net 2P reserves 16 bcf Deep Geothermal in UK – target 50 MW in 7 years Legacy Oil Producing Assets (Brockham and Lidsey) – 12.5 mmbbl OIP Long term strategic interests – storage, biomass and waste to energy Shareholder Update February 202
Slide 2: UK Electricity Generation is getting greener
UK Electricity Generation is getting greener Data Sourced From IEA
Slide 3: Overall UK Energy Mix not so green
Overall UK Energy Mix not so green Data Sourced From IEA
Slide 4: Transition for Angus
Transition for Angus • Realist: Hydrocarbons still needed but produced to the highest ESG standards • Innovator: Significant improvement in the Energy Mix needs CH4 to H2 conversion • Steward: The Transition begins with the proper operation of the existing energy assets and the responsible developme
Slide 5: Angus in Transition
Angus in Transition • Our Deep Geothermal Project provides the baseload generation which wind and solar cannot do without and contains many innovative, risk reducing elements for partners and investors alike. • At Brockham we continue to investigate biomass heat and power generation and geothermally
Slide 6: Saltfleetby Gas Field
Saltfleetby Gas Field (net 2P Reserves 16 BCF) Development plan with funding in documentation
Slide 7: Timeline to Saltfleetby first gas
Timeline to Saltfleetby first gas: • First gas forecast for Q3 2021. • Field Development subject to completion of documentation. • Revised development schedule is based on Closing of the Aleph Energy Ltd funding facility during March.
Slide 8: Saltfleetby Facilities Progress Update
Saltfleetby Facilities Progress Update • Final stages of the detailed design is underway. • Safety and environmental considerations are at the core of the design philosophy. • The twin compressor trains have been secured and designs completed for their duty at Saltfleetby. • Metering and dew point c
Slide 9: Key Suppliers/Manufacturers
Key Suppliers/Manufacturers • Compression drivers – Caterpillar • Compression – Ariel • Flare – Uniflare • Metering and analysis – Honeywell • Dew point control dehydration – Croft • Pipe work – Delta
Slide 10: Weather and lack of infrastructure leads to power disruption and demand for gas
Weather and lack of infrastructure globally leads to power disruption and continued demand for gas Natural gas in the U.S. was trading for as much as $500 per million British thermal units at the beginning of the week (15th February) as demand for heating and power plant fuel soared amid cold winter
Slide 11: Geothermal
Geothermal Target to deliver 50 MW by 2028
Slide 12: Natural Transition For An Oil & Gas Company
Natural Transition For An Oil & Gas Company In support of the 2016 Paris Agreement and the UK government’s pledge to achieve Net Zero by 2050 Angus Energy is progressing a scalable geothermal power project in South West England. • Geothermal Energy is complementary to our business: • Utilises Angus’
Slide 13: Hot Rock Geothermal Background
Hot Rock Geothermal Background • Total global geothermal electrical energy generation capacity in 2019 was approximately 14 GW • This is minute when compared with 7000TW of renewables in total the bulk of which is hydroelectricity. But Hydroelectricity is limited and can be environmentally damaging.
Slide 14: Geothermal is a known technology
Geothermal is a known technology Heat flow map of the UK • To provide significant geothermal electrical power in the UK the SW of England is the ideal location. • The technology was experimented with decades ago with pioneering work carried out in South West England. • This technology has now return
Slide 15: How can we exploit this resource?
How can we exploit this resource? • The granites of the South West have very high heat production. We have looked at this evidence and selected a site to access one of these areas. • It is also important that heat flows effectively through the granite otherwise we would simply create a cold spot. Th
Slide 16: Well Location
Well Location • Successful geothermal wells need to be placed in or adjacent to a major fault because granite naturally has very poor permeability, so water will not flow through it and provide the rates needed for power generation. • We have selected locations where a major fault intersects the gra
Slide 17: How does geothermal work?
How does geothermal work? • Our wells will target superheated water at temperatures of around 200 degrees C from depths of around 5km. • The superheated water is produced to surface and steam turbines are used to generate electricity. • The cooled water from the steam turbines is pumped back into th
Slide 18: What is the status of the project?
What is the status of the project? • Angus have identified an area with the highest heat flow in SW England. • This area lends itself to a method of drilling which should reduce the cost of the well (the largest component of cost). • The area has faulted granites at a suitable depth and a large enou
Slide 19: When could this happen and what form would it take?
When could this happen and what form would it take? • Based on past experience in oilfield planning, adjusted for geothermal activities, the Company expects that design, engineering planning and site preparation would take around 18 months enabling drilling to commence in H2 2022. • The pilot projec
Slide 20: Oil Assets
Oil Assets Good Husbandry in Transition
Slide 21: The Lidsey Field – Appliance of Science
The Lidsey Field – Appliance of Science • Lidsey Field is located just north of Bognor Regis addresses the Great Oolite formation – the focus of much UK oil production in the 1980s and 1990s. Estimated OIP was 9.7m bbls. • Two wells: X1 drilled 1987 and X2 drilled 2017 – both disappointed, the latte
Slide 22: Brockham – Hope Reinjected
Brockham – Hope Reinjected • The Brockham BRX-4 well producing from the Kimmeridge Layer encountered water • However the Portland wells, presently shut in, should remain productive and with water injection the recoveries can be expected to increase. Portland OIP estimated at 2.8 million bbls • Plann
Slide 23: Balcombe – A sensitive development
Balcombe – A sensitive development • Balcombe 1 drilled in 1986. Well tested in 2018. Problems with leftover drilling fluid but definitive Oil Show. • Angus has applied for a 1 year Extended Well Test. • Planning recommendation received in February for the application (5 planning applications have b
Slide 24: Disclaimer
Disclaimer This document is a confidential investor presentation which has been prepared by, and is the sole responsibility of, the directors of Angus Energy plc (the "Company") and has been prepared in connection with the proposed placing of ordinary shares in the capital of the Company (the "Trans