Last checked at 28 Dec 2023 07:00
28 December 2023
Dial Square Investments plc
Change of name to EnergyPathways plc
Change of registered address
Dial Square Investments plc (LON:EPP) is pleased to announce that, in line with its intention set out in its AIM admission document and in its announcement of 20 December 2023, it has changed its name to EnergyPathways plc ("EnergyPathways" or the "Company). The name change took effect on 22 December 2023 and the Company's ticker (EPP), ISIN and SEDOL remain unchanged.
The Company's registered address has also been changed to: Highdown House, Yeoman Way, Worthing, West Sussex BN99 3HH.
NOTICE OF INVESTOR EVENT
Investor Presentation via Investor Meet Company: 9:30am Tuesday 16 January
EnergyPathways is pleased to announce that Ben Clube (Managing Director) and Mark Steeves (Chairman) will provide a live presentation relating to the Investor Presentation via Investor Meet Company on 16 January 2024 at 9:30am GMT.
The presentation is open to all existing and potential shareholders. Questions can be submitted pre-event via your Investor Meet Company dashboard up until 9am the day before the meeting or at any time during the live presentation.
Investors can sign up to Investor Meet Company for free and add to meet EnergyPathways via:
https://www.investormeetcompany.com/energypathways-plc/register-investor
Investors who already follow EnergyPathways on the Investor Meet Company platform will automatically be invited.
Enquiries:
EnergyPathwaysBen Clube / Ben Hodges
| Tel: +44 (0)207 466 5000, c/o Buchanan (Financial PR) Email : info@energypathways.uk |
Cairn Financial Advisers LLP (Nominated Adviser) Jo Turner/Louise O'Driscoll/ Sandy Jamieson | Tel: +44 (0)20 7213 0880 |
Optiva Securities Limited (Joint Broker) Christian Dennis / Daniel Ingram | Tel: +44 (0)20 3137 1903 |
Global Investment Strategy UK Limited (Joint Broker) Callum Hill / James Sheehan | Tel: +44 (0)20 7048 9000 |
Buchanan (Financial PR) Ben Romney / Barry Archer | Tel: +44 (0)207 466 5000Email: energy@buchanan.uk.com |
For further information on EnergyPathways visit www.energypathways.uk and @energy_pathways on X (formerly Twitter).
BACKGROUND
EnergyPathways is an integrated energy transition company and plans to generate shareholder value by playing a wide role in providing the UK with energy security and low emission energy solutions. It is initially targeting UK gas assets, that can be brought into production in the near term providing critical supply to ensure domestic energy security as well as reducing the UK's carbon footprint.
EnergyPathways holds, via its wholly-owned subsidiary EnergyPathways Irish Sea Limited, a 100 per cent. interest in block 110/4a in Seaward Licence P2490 that contains the Marram gas field (the "Marram Field" or "Marram Gas Project"), located 30km west of mainland UK, and lies approximately 15-25km from existing offshore gas infrastructure including the Morecambe gas complex in the UK waters of the Irish Sea Basin.
The Marram Field, which was discovered in 1993, is estimated to contain 35.3 Bcf of undeveloped gas 2P Reserves. EnergyPathways considers the field to be a fully appraised, 'ready-to-go' gas development asset with low sub-surface technical risk. It has potential to be brought into production in a relatively short cycle time, due to its shallow water location and its potential to be tied-in to nearby existing infrastructure that has available capacity.
EnergyPathways' proposed development plan for the Marram Gas Project comprises two sub-sea horizontal wells and a tie back to the existing infrastructure. The Company hopes the project will generate high rates of return and a prompt payback. EnergyPathways is targeting first production from the Marram Gas Project in 2025.
The Directors consider that natural gas will be a bridging fuel in the UK energy transition to net zero and that natural gas will have a critical role to play in the UK's energy market for decades to come. Gas power generation is set to have a critical role in providing flexible energy supply as intermittent renewable wind energy generation in the UK increases. It is the Director's view that a successful development of the Marram Gas Project can supply low emission gas to the UK making a favourable contribution towards reducing UK's carbon footprint as well as providing energy security to the UK.
EnergyPathways' internal estimates suggest that there may be up to 2 Tcf gas potential in the UK Irish Sea region. The Company believes these resources have potential to be developed in relatively short time frames and provide the UK with increased energy security and low emission energy supply. EnergyPathways is actively exploring opportunities to expand its resource base and has a number of licence requests under consideration with the Government regulator.
The UK Irish Sea region is ideally suited for integrating undeveloped UK gas resources with the co-located clean energy technologies and assets of the region to provide reliable, secure and affordable low emission energy supply. The UK Irish Sea region contains major renewable wind generation capacity, reservoirs suited to natural gas and hydrogen energy storage and CCUS and existing energy infrastructure, and the UK's leading hydrogen hub development is nearby which will be driven initially by using gas feedstock, gas reforming technologies and CCUS.