Angus Energy Plc · LSE:ANGS
Angus Energy — Proactive One2One Virtual Forum (June 2021)
16 slides from Angus Energy's conference presentation, June 2021
Slide 1: Transitioning with Conventional Resources Toward a More Sustainable Future
Transitioning with Conventional Resources Toward a More Sustainable Future 1 Angus Energy June 2021
Slide 2: Challenges and Sum of Parts
Challenges and Sum of Parts • Saltfleetby £20m low risk, • Lidsey £15m moderate risk • Geothermal £8m higher risk • Management view of SoTP: £43m vs Market Cap of £7.75m • Key challenges: o Ever tougher licensing, planning and permitting environment o Access to finance for O&G difficult particularly
Slide 3: Transition Strategy
Transition Strategy 9.7 m bbl OIIP Lidsey 18 BCF Gross Gas Saltfleetby Aim c. 60MW Geothermal Electric Data Sourced From IEA 3 Angus Energy
Slide 4: Saltfleetby Gas Field (net 2P Post Tax NPV10 £25m)
Saltfleetby Gas Field (net 2P Post Tax NPV10 £25m) Low Risk Development plan with £12m funding in place 4 Angus Energy
Slide 5: The Asset Valued Feb 2020
The Asset Valued Feb 2020 P90 P50 P10 5 Angus Energy
Slide 6: Current State of Play
Current State of Play • Original CPR worked on c. 39p/therm. Presently gains from mix of hedged (43p) and unhedged (average forward 48p) prices offsets higher capex and associated funding costs • All items of process and analysis plant under construction/detailed design • Core item of 2 compressor/e
Slide 7: Oil Assets
Oil Assets 7 Angus Energy
Slide 8: Low Impact Site + A27 Links
Low Impact Site + A27 Links Lidsey 9.7mmbbl OOIP 8 Angus Energy
Slide 9: Lidsey: 9.7mbbl+ OOIP
Lidsey: 9.7mbbl+ OOIP Legacy Previous operators never performed Map depth conversion on the original seismic in the early 1980s. With depth conversion, the revised structure indicates a substantially larger Licence area reservoir area than that which gave rise boxed in red to 9.7m bbl OOIP Note a ve
Slide 10: Next Steps
Next Steps • Further seismic lines acquired and to be reprocessed alongside original lines • Reinterpretation of of existing lines indicates larger reservoir area. Consideration of further competent person update. • Application for planning and EA permitting consent for further sidetrack from one of
Slide 11: Geothermal
Geothermal Target to deliver 60 MW by 2028 11 Angus Energy
Slide 12: Deep Geothermal Potential in UK up to 8,000 GWhr baseload
Deep Geothermal Potential in UK up to 8,000 GWhr baseload Data Sourced From IEA 12 Angus Energy
Slide 13: What, where and how?
What, where and how? 13 Angus Energy
Slide 14: How will it work?
How will it work? • Initial aim is to develop 3 sites with c 20MW each • Total of 60MW over six years - potential £300m revenue stream over 20 years • The key is to derisk the drilling and subsurface challenges o Multilateral wells o Improved drilling programme o Downhole technology and well design
Slide 15: Next Steps
Next Steps • 8 sites identified, 3 probable, heads of terms advanced with one • Engagement begun with Environment Agency and local authorities • Engagement with REA and other bodies on joint lobbying • Establishing partnerships with two universities • Outline feasibility study on surface heat conver
Slide 16: Contact
Contact Angus Energy Plc www.angusenergy.co.uk Managing Director: George Lucan T: 0208 899 6380 info@angusenergy.co.uk
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