ORCADIAN ENERGY PLC - Investor Update

Orcadian Energy PLC provided an investor update outlining its strategy to transform the Earlham Gigagrid project into a pioneering offshore, low-carbon AI data centre and gas-to-power development in the UK Southern North Sea. Management highlighted plans to combine the Earlham and Orwell gas fields with offshore power generation, carbon capture and storage (CCS), and hyperscale data centre infrastructure, targeting near-zero Scope 3 emissions while supplying reliable dispatchable power. The company intends to establish Earlham Gigagrid Limited to attract strategic investment from hyperscale technology companies, infrastructure investors and industry partners, while minimising shareholder dilution. Alongside this flagship opportunity, Orcadian reaffirmed the value of its broader portfolio, including its carried interest in the Pilot oil field, the Lowlander and Elke developments, and the Fynn discovery with Serica Energy. Management argued that the current market valuation significantly undervalues both its oil and gas resource base and believes the Gigagrid strategy could provide a major catalyst for a re-rating. Near-term milestones include progressing the NSTA Concept Select process, submitting a Concept Select Report (CSR), advancing the Field Development Plan (FDP) and Environmental Statement, before moving towards a Final Investment Decision (FID). The presentation reinforced Orcadian's long-term growth strategy of unlocking shareholder value through innovative, low-carbon energy infrastructure, strategic partnerships and disciplined capital allocation across its North Sea portfolio.