ORCADIAN ENERGY PLC (ORCA) — Investor Presentation

Investor webinar replay

Replay transcript excerpt

Good morning and welcome to the ORCADIAN ENERGY PLC Investor Presentation. Throughout today's recorded presentation, investors will be in listen only mode. Questions are encouraged and could be submitted at any time by the Q and A tab situated on the right hand corner of your screen. Simply type in your questions and press send. Before we begin, I'd like to submit the following poll. And I'd like to hand you over to Steven Brown, CEO. Good morning, sir. Good morning, and welcome everyone to our portfolio update. We thought it's time to refresh everyone's memory on the licenses we hold and what we intend to do with them. And, really, the operative word in that intro is portfolio. We have a portfolio of assets, all of whom could deliver a lot of value to our shareholders. So let's start with what our strategy is. Firstly, we aim to license or maybe buy for low cost, certainly not for high cost, discovered reservoirs that need an innovative development plan. We we really prefer fields with great rocks, and we prefer to innovate around how we deal with the fluids. Fields with great rocks and easy fluids just don't come up very often in licensing rounds. And if they do, say Pegasus in the Southern North Sea, bigger companies can easily outcompete us by promising to drill wells. We also target what we call post transition hydrocarbons, say, to par with CCS or the oil and fin buly, which can be used to make synthetic graphite for EV anodes. I always say that strategy is the combination of opportunity and capability. And for us, the opportunities have been in license rounds, and our capability our core capability is transforming resources into reserves. Those are two very important words. Resources mean barrels in the ground. Reserves are barrels that have a clear pathway to...