RCS - Orcadian Energy PLC - Investor Presentation via Investor Meet Company

Orcadian EnergyAnnouncement

04/04/2024 11:15

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20240404:nRSD3435Ja&default-theme=true

RNS Number : 3435J  Orcadian Energy PLC  04 April 2024

 

4 April 2024

Orcadian Energy plc

("Orcadian Energy", "Orcadian" or the "Company")

Investor Presentation via Investor Meet Company

 

Orcadian Energy plc is pleased to announce that Stephen Brown (CEO) will
provide a live presentation via Investor Meet Company on 10 Apr 2024, 12:00
BST.

The presentation is open to all existing and potential shareholders. Questions
can be submitted pre-event via your Investor Meet Company dashboard up until
09 Apr 2024, 09:00 BST, or at any time during the live presentation.

Investors can sign up to Investor Meet Company for free and add to meet
ORCADIAN ENERGY PLC via:

https://www.investormeetcompany.com/orcadian-energy-plc/register-investor
(https://www.investormeetcompany.com/orcadian-energy-plc/register-investor)

Investors who already follow Orcadian Energy plc on the Investor Meet Company
platform will automatically be invited.

For further information on the Company please visit the Company's website:
https://orcadian.energy (https://orcadian.energy)

 

Contact:

 Orcadian Energy plc                                   + 44 20 7920 3150
 Steve Brown, CEO

 Alan Hume, CFO
 Zeus (Nomad and Joint Broker)                         +44 20 3829 5000
 Dan Bate / Alex Campbell-Harris (Investment Banking)

 Simon Johnson (Corporate Broking)
 Novum (Joint Broker)                                  +44 207 399 9425
 Colin Rowbury / Jon Belliss
 Tavistock (PR)                                        + 44 20 7920 3150
 Nick Elwes / Simon Hudson                             orcadian@tavistock.co.uk (mailto:orcadian@tavistock.co.uk)

 

About Orcadian Energy

Orcadian is a North Sea focused, low emissions, oil and gas exploration and
development company. Orcadian may be a small operator, but it is also nimble,
and the Directors believe it has grasped opportunities that have eluded some
of the much bigger companies. As we strike a balance between Net Zero and a
sustainable energy supply, Orcadian intends to play its part to minimise the
cost of Net Zero and to deliver reliable energy to the UK.

Orcadian's key asset is the Pilot oilfield, Pilot was discovered by PetroFina
in 1989 and has been well appraised. The field has excellent quality reservoir
and contains 263MMbbl of a viscous oil ranging in gravity from 17º API in the
South of the reservoir to 12º API in the North. In planning the Pilot
development, Orcadian has selected polymer flooding and wind power to
transform the production of viscous oil into a cleaner and greener process.
Polymer significantly reduces fluid handling requirements and hence energy
consumption as well as boosting recovery. Ithaca Energy, operator of the
Captain field in the Inner Moray Firth, has enjoyed consistent success in
applying polymer flood to the highly analogous Captain field. The Pilot
project is now under the stewardship of Ping Petroleum UK PLC ("Ping") and is
intended to be amongst the lowest carbon emitting oil production facilities in
the world.

Ping is progressing a low-emissions, phased, field development plan for Pilot
based upon a polymer flood of the reservoir, a Floating Production Storage and
Offloading vessel (FPSO) and provision of power from a floating wind turbine
or a local wind farm.

Orcadian has an 18.75% fully carried interest in licence P2244 (block 21/27a)
and a 100% interest in licence P2482 (blocks 28/2a and 28/3a). Ping is
operator of P2244 and the Pilot development project.

Orcadian has also been offered two licences in the 33(rd) licensing process
and expects formal issues of these licences in due course.

The Mid-North Sea High licence contains shallow gas leads Orcadian applied in
partnership with Triangle Energy, an Australian listed energy company.
Orcadian would be licence administrator and would hold 50% of the offered
licence. The Mid-North Sea High licence covers blocks 29/16, 29/17, 29/18,
29/19, 29/21, 29/22, 29/23, 29/27 and 29/28.

The Fynn licence contains a very substantial heavy oil discovery. About 88% of
the resource on a best technical case is estimated to lie within the area of
the offered licence. Orcadian has been offered a 50% working interest in the
Fynn licence to be operated by the Parkmead Group. The Fynn licence covers
blocks 14/15a, 14/20d and 15/11a.

This information is provided by Reach, the non-regulatory press release distribution service of RNS, part of the London Stock Exchange. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  NRABGGDSDGGDGSS