ORCADIAN ENERGY PLC (ORCA) — Pilot farm-out and portfolio update

Investor webinar replay

Replay transcript excerpt

Good afternoon, and welcome to the ORCADIAN ENERGY PLC Investor Presentation. Throughout this quarter presentation, investors will be in listen only mode. Questions are encouraged and can be dismissed at any time by the Q and A tab situated in the right corner of your screen. Just simply type in your questions and press send. The company may not be in a position to answer every question received in the meeting itself. How the company will review your questions submitted today and publish responses where it's appropriate to do so. Before we begin, I'd like to submit the following poll. And I'd now like to hand you over to Steven Brown, CEO. Good afternoon, sir. Good afternoon, everyone. I'm gonna start with a bit of an apology because I have a very husky voice, and the truth is I feel rotten. But I thought it was too important to speak to you today to give you the update on our form out deal with Ping Petroleum. So apologies that I'm not my usual abrulean self. I'm a little calmer than usual. I'll assume you've read that or will read it later. When we set the company up we actually set the company up in 2014, so it's almost ten years that the company has been going. The whole objective was to deliver a high return for investors. And the way we sought to do that is by getting our polymer flood project for pilot financed. And the deal with Ping provides a pathway for field development plan approval and then implementation of the project and, ultimately, cash flow from the remaining share of the field that we will retain once the format deal is completed. We looked at a lot of different ways of getting the project going forward, but when we met with Ping and explored how we could modify the project to fit with their their thoughts about how how it should be developed. We...