Orcadian Energy Plc · LSE:ORCA
Orcadian Energy — Investor Presentation (September 2021)
17 slides from Orcadian Energy's investor presentation, Sep 8, 2021
Slide 1: Investor Presentation September 2021
INVESTOR PRESENTATION September 2021 1
Slide 2: Disclaimer
Disclaimer This presentation and its enclosures and appendices (the “presentation”) have been prepared by Company have not since changed, and the Company does not intend, and does not assume any Orcadian Energy plc (the “Company”) exclusively for information purposes. This presentation has not oblig
Slide 3: Orcadian Team & History
Orcadian Team & History nnaker Opportunities Plc sh shell listed on London Stock Exchange, Standard List segment ● Founded in 2014 and awarded the Pilot licenc Company Steve Brow PresentationAlan Hum Greg Hardin PART I ● Awarded Blakeney & Bowhead licence in 201 CEO CFO LETTER FROM THE CHAIRMAN Tech
Slide 4: Reserves and resources summary
Reserves and resources summary Recoverable (MMbbls) Geological Chance of Recoverable Licence Accumulation Licence Accumulation chance of development (MMbbls) Low Best High success P2320 Pilot North Channel 11 50% P2244 Pilot Main Classi ed as 58 79 111 P2320 Pilot Central Channel 6 50% reserves P224
Slide 5: Asset highlights
Asset highlights Orcadian Energy Licences Oil Discoveries Oil Prospects 0 2 4 6 kilometers 8 10 W1 W5 W2 M 6 k 2A W 10Z M 1 MG3Z M 7 ● Key asset is the Pilot oilfield which has a substantial audited L 8Y W3 M 9Z Thornham 1 W4 W reserve: 79 MMbbl 2P (proven & probable 21/22a Titchwell Blakeney 5k 1 1
Slide 6: Comparison with global oil production emissions
Comparison with global oil production emissions Viscous oil doesn’t have to mean high emissions ● To be comparable with this Stanford University dataset, to our Scope 1 & 2 emissions we have added ● Scope 3 emissions from offshore logistics, oil transportation to the refinery, and polymer productio
Slide 7: A project delivering on OGA's Net Zero agenda
A project delivering on OGA’s Net Zero agenda Powered by renewable energy ● Multiple opportunities to 35 reduce emissions adopte Scope 1 Scope 2 Benchmarks 30 ● Integration of aggressive process heat management Pilot field development 25 with high efficiency back- up power generation and Kg CO2/bbl
Slide 8: Pilot field summary
Pilot field summary West 21/27a-6 East ● Fully appraised, seven reservoir penetrations, 5 Reserves Summary two tested wells, core and fluid samples held by Orcadian, two high quality 3D seismic Pilot and Pilot South 21/27a-6 Volumetric calculations have been undertaken for the Pilot discovery. A mos
Slide 9: Polymer flooding – a proven technique
the multiphase extension of Darcy’s and during polymer flooding for (a) Expe Total Pag experi- we do not expect a Darcy-type to be valid when fingers are gene formulation is not appropri covery during unsteady-state displacements. Different oil viscosities up to 303 cp and injection rates up to tify
Slide 10: Polymer flooding – Captain field
Polymer flooding – Captain field ● Completed in 2013, focused on a well pair in the Southern Upper Captain sand, separated by ≈125 ● Dramatic acceleration of waterflood reserve ● Significant increment to expected waterflood recovery (16% ● Excellent analogue to Pilot, much to learn and copy Chart ex
Slide 11: Pilot field development plan
Pilot field development plan FPP Jack-up FPSO WHP 11
Slide 12: A highly profitable project
A highly profitable project $ 1,600 m ● Pilot low salinity polymer flood is a robust and Elke & Narwhal (factored by chance of development) highly profitable project with a NPV10 Pilot breakeven below $40/bbl ● Next step is to secure development partners $ 1,200 m (oil company or an alliance of cont
Slide 13: Potential area production
Potential area production 60,000 ● Bowhead success would prompt 2U facility debottleneckin 2C 50,000 2P ● Scope for optimisation of development timin 40,000 Bowhead ● Further potential in Pilot bbls/day 30,000 channels and Elke satellites 20,000 Pilot Elke, Narwhal & Blakeney 10,000 0 Year 1 Year 3
Slide 14: Bowhead Prospect
Bowhead Prospect ● Pilot look-alike on northern side of salt swell from Pilot which shows up brightly on the top reservoir far stack amplitudes ● New seismic, which will help derisk the prospect and enable selection of the best well location available, has been license ● 43 MMbbl prospective resourc
Slide 15: Objectives and Strategy
Objectives and Strategy ● Deliver a high return for investor ● Fully finance the polymer flood project for Pilot, two parallel approaches ● Seek farm-in partner ● Structure a contractor alliance to deliver the project with a minimised equity requiremen ● Add value through focussed exploration and ap
Slide 16: Why Orcadian?
Why Orcadian? ● Substantial Proven & Probable Reserve base with significant exploration and appraisal upsid ● Pilot project well advanced and in line with OGA’s Net Zero goal ● Core projects with NPV10 of over $1.0 billion at $60/bbl and $1.4 billion at $70/bbl* ● Multiple paths forward to finance t
Slide 17: Orcadian Energy plc
Auditor: PKF Littlejohn Broker: WH Ireland Banker: Barclays 15 Westferry Circus 24 Martin Lane, Level 25, 1 Churchill Place, London E14 4HD London EC4R 0DR London, E14 5HP Lawyer: Hill Dickinson Lawyer: TandonHildebrand Registrar: Neville The Broadgate Tower, 20 Primrose Stree Labs Atrium, Chalk Far
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