⚠ OPERATOR COMMAND CENTRE
Internal management dashboard — Orcadian Energy PLC
Cash Position
£76k
As at Dec 2024
Monthly Burn
£55k
G&A + professional fees
Runway
1.4 months
Insolvency: Feb 2025
Unfunded Obligations
£2.56m
Fynn £530k + Elke £2m + other
Portfolio NAV
$812k
FV at v2.0 model prices
CASH RUNWAY GAUGE
BELOW MINIMUM LIQUIDITY THRESHOLD
3-month opex reserve: £165,000 | Current: £75,919
⚠ CRITICAL ALERTS
INSOLVENCY RISK
£76k cash vs £55k/mo burn. 1.4 months runway.
Immediate equity raise or cost cut required.
FYNN FUNDING GAP
£530k Phase A obligation (gross), partially offset by Serica technical fees. 960 MMbbl optionality.
Negotiate Serica arrangement to minimise net cash call. Retain for STOIIP optionality.
ELKE SEISMIC UNFUNDED
£2m seismic commitment due Jul 2027. No funding path.
Farm-out 50-75% immediately.
FDP TIMELINE
Pilot FDP submission target H2 2026. Second partner not yet identified.
Monitor Ping progress.
JOA DEFAULT RISK
P2244 JOA has 60-day default clause. Any missed cash call = forfeiture.
Ensure JOA compliance at all times.
NEXT 90 DAYS
PORTFOLIO VALUE vs COST
| Asset | Fair Value | Cost to ORC | Status |
|---|---|---|---|
| Pilot (R3) | $493k | $0 (carried) | |
| Earlham (R4) | $222k | $0 (carried) | |
| Fynn (R5) | $97k | £530k unfunded | |
| Elke | TBD | £2m unfunded | |
| Q29 | TBD | £25k (low) |