Tangram Energy

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Energy Rediscovered

Assets

North Sea Oil & Gas Assets

Tangram has acquired a number of licences in the UK’s 32nd Offshore Licensing Round. The company is presently working on 4 assets and has built a dedicated team with access to a pool of expert advice to further each of these projects according to the terms agreed with the North Sea Transition Authority.

Cirrus P2512

Cirrus P2512

The P2512 licence work programme has been completed for Initial term Phase A including PSTM seismic reprocessing

1

Thunderball P2517

Thunderball P2517

Thunderball is located in the Moray Firth Area in the Upper Jurassic Burns Sandstone. It was first discovered in 1997 with the 14/26b-05 well.

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4

Eldon P2585

Eldon P2585

The P2585 licence work programme has been completed for Initial term Phase A including PSTM seismic reprocessing

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2

Cirrus P2512

Cirrus P2512

The P2512 licence work programme has been completed for Initial term Phase A including PSTM seismic reprocessing

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3

Charlie-Mimas P2584

Charlie-Mimas P2584

The P2584 licence work programme has been completed for Initial term Phase A including PSDM seismic reprocessing

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1

Thunderball P2517

Thunderball P2517

Thunderball is located in the Moray Firth Area in the Upper Jurassic Burns Sandstone. It was first discovered in 1997 with the 14/26b-05 well.

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2

Cirrus P2512

Cirrus P2512

The P2512 licence work programme has been completed for Initial term Phase A including PSTM seismic reprocessing

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3

Charlie-Mimas P2584

Charlie-Mimas P2584

The P2584 licence work programme has been completed for Initial term Phase A including PSDM seismic reprocessing

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4

Eldon P2585

Eldon P2585

The P2585 licence work programme has been completed for Initial term Phase A including PSTM seismic reprocessing

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Strategy

Focus
Identify and license low-risk, previously relinquished undeveloped discoveries. For instance, the decision makers at that time did not have the benefit of additional local infrastructure or pipeline ullage that has been added since. We then deploy new, reprocessed, and higher resolution data that is now available to reaffirm the economic viability of the discovery, and eventually synthesise a development plan using innovative techniques and software tools.Aim to acquire mature production assets that are closer to the beginning of their decommissioning phase where we can leverage other assets in the region to extend its life and capitalise on our ability to structure the financing of the decommissioning liability in a unique and cost effective manner.Through joint ventures and partnerships, it is our goal to create alignment of interest in the region to extend the life of the local infrastructure thereby enhancing the viability of several other blocks in the region that may not be otherwise economical to develop.
Access to Capital
Tangram is fully capitalised through shareholder funds and has access to highly sophisticated market participants that are able to tap into their vast network of investors and financiers. The Management team is able to deliver efficient corporate capital structure to obtain optimum risk reward for the shareholders.
Collaboration with JV Partners
Tangram Energy is eager to partner with like-minded, well-funded partners that echo the philosophy of the management team and are committed to generating significant shareholder value through innovation, technology and creative approaches.
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Company

Tangram Energy is a fast emerging player in the UK North Sea that focuses on developing mature fields and undeveloped discoveries

Overview

In recent years, various macro-economic factors have transformed the competitive landscape in the UK Oil & Gas industry and Tangram believes that a remarkably differentiated strategy is required to be a successful energy company. Tangram aims to utilise technology and innovative approaches to maximize hydrocarbon recoveries in fields that have previously been overlooked or under-invested in. In addition, Tangram is evaluating acquisition targets for production assets that provide synergy and support to its strategy in the North Sea.

Value Creation

Tangram participated in 32nd UKCS licensing rounds and was awarded several licenses 2017-18 that contain undeveloped discoveries. Team Tangram re-analyses these blocks through new sets of available data, software tools and overlays its perspective to create a viable development plan generating significant economic value. Work program carried out by the team on its awarded licenses has resulted in a significant uplift in the economic viability of the license blocks and Tangram is highly confident in its ability to take them to the next stage of the development plan.

Philosophy

The re-use and life-extension of existing infrastructure, and effective utilization of previous economic and environmental consumption is a better sustainable approach to oil and gas exploration and production than the imposition of new greenfield burdens. It not only makes good economic sense but is also kinder to the environment. Tangram therefore drives a culture of innovation, effectiveness and conscientious behaviour to effect its philosophy. Decisions are made through a collective process which overlays existing data, infrastructure and other assets that are looked through a new lens and refined by further technical analysis to deliver the broader corporate strategy.