Slide 1: Engineers in Energy Transition
Engineers in Energy Transition October 2022
Slide 2: Shareholder Structure
Shareholder Structure Issued share capital of Angus Energy Plc consists of 2,764,264,264* Ordinary Shares of £0.002 each *Disclosed Shareholdings in Angus Forum Energy Energy greater than 3% Services Limited 20% Market Cap: c. £58 million Aleph Fin C Limited (as at 4th October2022) 9% Knowe Free Flo
Slide 3: Angus in Snapshot
Angus in Snapshot • 2016: IPO as an E&P focused on Southern England (Weald Basin) • Three Oil Fields (Brockham, Lidsey, Balcombe) modest barrelage • 2019: Acquired 51% of Saltfleetby Gas Field in East Midlands (Lincolnshire) • UK’s largest onshore gasfield with P90 reserves of 180 mllion therms and
Slide 4: Acquisition of remaining 49% of Saltfleetby
Acquisition of remaining 49% of Saltfleetby • Even on October 2021’s CPR’s modest forward prices c. 62p/therm, the other half of the field was acquired on manifestly good terms. • Forward prices out to end 2025 are more than 4x the prices used in that CPR. 4 Angus Energy
Slide 5: Forthcoming Operations
Forthcoming Operations • October 2022: Sidetrack of Well SF07 • Accelerates recoveries – no new reserves sought • Hand in hand with second compressor due 1 Dec 2022 • Q1 2023: Reperforation of Brockham Oil Field • To raise production from <50 bbl/day to >150 bbl/day • Q1-Q2 2023: 3D Seismic mapping
Slide 6: Wholesale Gas Prices – Winter 2022
Wholesale Gas Prices – Winter 2022 • Source: Catalyst Commercial 6 Angus Energy
Slide 7: Wholesale Gas Prices – Summer 2023
Wholesale Gas Prices – Summer 2023 • Source: Catalyst Commercial 7 Angus Energy
Slide 8: Wholesale Electric Prices
Wholesale Electric Prices 8 Angus Energy
Slide 9: Impact on Geothermal Economics
Impact on Geothermal Economics • Assuming a 4 producer well pad with a 200C reservoir then result from £70m investment together with connection is best summarised by the following graphs • We are targeting efficiency rates of around 12%, but the economics work even with efficiencies as low as 6% on
Slide 10: The Problem of Energy Source vs Distribution
The Problem of Energy Source vs Distribution A major upgrade of the local distribution and national transmission network is required for the UK to meet its decarbonization goals on transport and heating. Consider some time lines • HS1 first authorized in 1996. Status: completed in 2007 • HS2 first a
Slide 11: Uncertain Policy Backdrop
Uncertain Policy Backdrop Increasing regulation, inflating costs, an unrestrained environmental lobby, low hydrocarbon prices (with no support from government) followed by high hydrocarbon prices (with punitive taxes), uncertain commitment to specialist technologies such as fracturing – the persiste
Slide 12: Strategic Goals – Remaining Relevant
Strategic Goals – Remaining Relevant • Angus will continue to invest in legacy oil and transition gas as this will be important for at least the next decade and will maintain an accessible onshore feedstock for essential materials • Angus will steadily build up its geothermal projects and expertise
Slide 13: Disclaimer
Disclaimer This presentation is solely intended to inform existing and potential shareholders of the activities of the Company and the views of management on those activities. It is not intended to form part of any invitation by the Company to subscribe for shares and has not been prepared in connec