ralph.hardwick

NEWS CeraPhi Energy sign Exclusive Agreement with Oil and Gas UK to develop an Energy Hub “GeoHub” 16 December 2021 Geothermal Development Company CeraPhi Energy and UK Oil & Gas PLC (London AIM: UKOG) (“the Company”) is pleased to announce that it has signed a Heads of Terms to enter into a joint venture agreement to develop part of UK Oil and Gas Horse Hill site into a geothermal energy hub (“GeoHub”). The GeoHub, currently at a conceptual stage, is envisaged to generate and supply more than 200,000 megawatt hours per year of continuous baseload, primarily as heat energy. The project’s first phase would aim to supply significant industrial end-users in the locality with 100% green heating and cooling plus ancillary green electricity and/or hydrogen. The GeoHub concept centres around six new deep geothermal boreholes utilising CeraPhi’s proprietary “closed-loop” downhole heat exchanger technology, designed to transfer heat from the surrounding hot rocks via heat pumps to the surface. Unlike most conventional geothermal wells, the closed-loop system requires no injection or circulation of water within the rocks between boreholes, eliminating the possibility of induced seismic activity. As in established heat networks, heat from the GeoHub would be delivered to the end user via a small diameter hot water pipe and heat pump system. Subject to necessary permissions, further wells and/or sites could be added at any stage to supply a wider spectrum of end users. The GeoHub’s envisaged potential to supply continuous baseload energy with zero carbon emissions is fully in line with the UK government’s “build back greener” net-zero strategy. It is envisaged that current oil production at the site would continue to the end of economic life and then would be repurposed to add further geothermal baseload, transitioning the site into 100% renewable energy provision. Upon execution of the joint venture agreement, conceptual engineering design and preparation of a planning application are planned to commence in the New Year. Karl Farrow, CeraPhi’s Chief Executive commented: “GeoHub will hopefully be the first of many, a scalable cost-effective solution for baseload energy providing the end user the cleanest and most cost effect long term solution to energy right from under our feet using a relatively small footprint, in this case, re-using and existing Oil and Gas site which really is a sustainable energy transition. Having already undertaking the initial feasibility study for the project we are really looking forward to getting started on the conceptual development phase and working with UK Oil and Gas on the development of this project.”   Stephen Sanderson, UKOG’s Chief Executive commented: “It makes perfect sense for the UK to harness the abundant green heat energy beneath our feet to heat, cool and power our homes and industry. The envisaged GeoHub’s weather independent baseload is firmly in line with both the UK government’s “build back greener” strategy for net-zero and the Company’s ambition to transition its UK assets into sustainable green energy hubs.  We look forward to working with CeraPhi to further define and deliver the project.” Previous PostCeraPhi Energy signs the Armed Forces CovenantNext PostNorfolk green energy solution to be highlighted in Westminster About CeraPhi®  CeraPhi is a vertically integrated Geothermal Development Company with proprietary technology and a mission to unlock the thermal heat underground to deliver sustainable, continuous, and totally green 24/7 baseload energy through a “plug and Play” sustainable technology platform.  To find out more and to explore investment opportunities with CeraPhi visit www.ceraphi.com For media inquiries and further information, please contact Holly Harvey-Perdicou holly.harvey-perdicou@ceraphi.com

NEWS CeraPhi Energy signs the Armed Forces Covenant 24 November 2021 CeraPhi Energy signs the Armed Forces Covenant, a private closed door event in the MoD alongside Mission Renewable formed to harness the opportunity for skills migration from the veteran community to jobs in the renewable energy sector and Aker Offshore Wind. Signing on behalf of the Ministry of Defence was Lieutenant General Richard Wardlaw OBE MSc BEng MInstRE, MoD’s Chief of Defence Logistics and Support. CeraPhi Energy has made the pledge to support the formation of armed forces communities across the renewable sector, developing exemplars, mentors, and enabling service veterans to help each other.  Mission Renewable is also working with the MoD to develop new supported pathways for service leavers, enabling the use of MoD resettlement ‘credits’ so that service leavers are able to access funding to obtain the safety and technical qualifications required to enter, the renewable energy sector. “These are early days for the Renewable sector” said James Cameron, CEO Mission Renewable, “But what is clear is that ‘Green’ careers will become a destination of choice for our service leavers and veterans.  As our nation moves to meet the challenges in sustainability, the fast growth of the renewable energy sector will need men and women of quality to power it.  Our Armed Forces community have much to offer, and by harnessing this national resource, industry too can benefit greatly. “Companies like CeraPhi are keen to tap into that potential.  From our work in other sectors, we’ve learnt a great deal about successful transition, and the power of advocacy, and it is now our responsibility to help promote these positive business behaviours in support of the renewable sector.” “We are in a new era of reuse and sustainability, said Karl Farrow, CeraPhi CEO, reusing skills and disciplined ability is a key part of building a sustainable foundation and supporting transition, no one deserves more recognition that those men and women throughout the globe who served their countries, keeping us safe well and healthy in our daily lives. I have been in a fortunate position to have been able to offer many of these ex-service personal from various nationalities an ability to transition from service to civvy street and we continue to support these combined efforts and look forward to working with the MoD and the Mission Renewable cause as we ourself transition.” Previous PostCeraPhi Energy supporting Antarctic Quest 21Next PostCeraPhi Energy sign Exclusive Agreement with Oil and Gas UK to develop an Energy Hub “GeoHub” About CeraPhi®  CeraPhi is a vertically integrated Geothermal Development Company with proprietary technology and a mission to unlock the thermal heat underground to deliver sustainable, continuous, and totally green 24/7 baseload energy through a “plug and Play” sustainable technology platform.  To find out more and to explore investment opportunities with CeraPhi visit www.ceraphi.com For media inquiries and further information, please contact Holly Harvey-Perdicou holly.harvey-perdicou@ceraphi.com

NEWS CeraPhi Energy supporting Antarctic Quest 21 22 November 2021 In 2012, Paul Hart (Lt Cdr RNR) Polar Maritime Survival Instructor, led a small team to cross the Antarctic Peninsula from west to east and back, undertaking scientific research to celebrate the life and achievements of Sir Ernest Shackleton . The intention of Antarctic Quest 21 is to continue the science and exploration programme on the Antarctic Peninsula by travelling over and then along the spine of the Antarctic Peninsula. In the 201st Anniversary year of the discovery of Antarctica, the team will cross the Forbidden Plateau from Portal Point to Foyn Point. At Foyn Point they will put in place and start scientific equipment that will transmit data used in climate research in real time. The team will then travel down the spine of the Peninsula and continue their data gathering for scientific research of climate change, meteorology, geology and glaciology. Of special importance will be the team’s collection of samples research into microplastics, metal and nutrient content of the snow on the Peninsula, revealing just how we are affecting the most remote areas on the planet. Furthermore, as the early pioneers to Antarctica, the team want to inform, educate and inspire the general public on the subject of Antarctica. To these ends, a comprehensive educational outreach programme will be developed, working with schools, universities and the general public to broaden knowledge and understanding about Antarctica. A Commemoration Service for Sir Ernest Shackleton on 5 January 2022 will follow the lines of a naval Service based on Shackleton being a member of the Royal Naval Reserve. As was planned for Shackleton’s Quest Expedition, the team of Antarctic Quest 21 will conduct the science projects: Gather snow samples from remote locations to measure microplastic contamination, metal and nutrient concentrations in the snowpack. Undertake Magnetotelluric measurements to determine the subsurface conductivity and composition of the Antarctic Peninsula. Measure UVB radiation dose on the ground to establish the effect of ozone depletion on harmful radiation reaching the surface of Earth. Emplace and set to work a GPS system to measure movement of the Antarctic Peninsula. Measure snow deposition rates to contribute to models that predict sea-level rise as a result of climate change. Undertake meteorological observations to identify changing weather patterns and ground-truth remote sensing measurements. Measure metallic contamination of the snow to determine metal fall out into the Southern Ocean and its impact on bio-mass in the water column. Join us in supporting this historic expedition of Science, Education and Commemoration by donating here :  https://lnkd.in/dZmP9Pd Previous PostGeothermal energy – understanding the business caseNext PostCeraPhi Energy signs the Armed Forces Covenant About CeraPhi®  CeraPhi is a vertically integrated Geothermal Development Company with proprietary technology and a mission to unlock the thermal heat underground to deliver sustainable, continuous, and totally green 24/7 baseload energy through a “plug and Play” sustainable technology platform.  To find out more and to explore investment opportunities with CeraPhi visit www.ceraphi.com For media inquiries and further information, please contact Holly Harvey-Perdicou holly.harvey-perdicou@ceraphi.com

NEWS Geothermal energy – understanding the business case   18 November 2021 CeraPhi Energy has developed technology to repurpose oil and gas wells or failed geothermal wells to produce clean energy. The technology is applied under an energy development agreement on a licensing basis. Its founders coming from a background in the oil and gas industry.CeraPhi uses its proprietary technology together with proprietary fluids in its closed loop system, whereby the fluids are circulated down the well from the surface through a custom designed close loop system, utilising only the bottom hole temperature from the existing well, the heat is transferred to a secondary system on the surface using a binary cycle principle. The CeraPhi system eliminates the need to seek subsurface hydrothermal systems as in conventional geothermal and removes the need to produce these fluids which in turn removes the risk of environmental contamination and the controversial use of subsurface water which is a natural resource itself. Not needing subsurface fluids removes the need for hydrofracturing or hydraulic stimulation which has been associated with seismic activities under similar condition as fracking, this process is eliminated using CeraPhi system. The CeraPhi well technology also enables the production of clean thermal energy production at the same time as hydrocarbon production, meaning this can provide a suitable medium to support the decarbonisation of site operations and or addition revenue stream and a clean energy transition which can be built into an exploration development plan in advance. Click here to download the Digital Energy Journal. Previous PostIGas signs Heads of Terms with CeraPhi for repurposing Oil and Gas wells for clean energy useNext PostCeraPhi Energy supporting Antarctic Quest 21 About CeraPhi®  CeraPhi is a vertically integrated Geothermal Development Company with proprietary technology and a mission to unlock the thermal heat underground to deliver sustainable, continuous, and totally green 24/7 baseload energy through a “plug and Play” sustainable technology platform.  To find out more and to explore investment opportunities with CeraPhi visit www.ceraphi.com For media inquiries and further information, please contact Holly Harvey-Perdicou holly.harvey-perdicou@ceraphi.com

NEWS IGas signs Heads of Terms with CeraPhi for repurposing Oil and Gas wells for clean energy use 23 September 2021 IGas announce on Thursday 16th September that it has entered into a Heads of Terms (HoT) with CeraPhi Energy, a specialist in repurposing oil and gas assets for geothermal energy. IGas and CeraPhi will jointly develop geothermal energy projects utilising specific wells in IGas’s asset portfolio. The first project will be sited in the Lincoln area on one of IGas’s existing sites. The development will capitalise on IGas’s deep local knowledge, surface infrastructure and existing wells and CeraPhi’s patented technology, CeraPhiWell, a closed loop downhole heat exchanger. This path finder project will be used to demonstrate the commercial potential for geothermal energy production from repurposing existing oil and gas assets for direct heat for agriculture, residential heating and cooling, and the development of hybrid energy systems generating both heat and power. Commenting Stephen Bowler, IGas CEO, said:“The signing of the agreement with CeraPhi is another important step in IGas’s drive to diversify its operations, adding to the ongoing work on hydrogen production and carbon storage and bolstering our established geothermal offering. As local authorities and other large-scale users of heat transition away from fossil fuels we are receiving an increasing number of enquiries looking to geothermal as a solution and through this growing pipeline of development opportunities, IGas is well-positioned to deliver a solution to the long-term decarbonisation for heat in the UK.” Karl Farrow, CeraPhi Energy, CEO said:“The repurposing of oil and gas wells to access subsurface thermal heat to produce baseload clean energy has to become a primary step to developing a wider appreciation of what geothermal can provide us. This agreement with IGas is yet another demonstration of the energy transition harnessing existing skills and expertise that we have in the UK to support a net zero target.” Previous PostGeothermal Farms Could Grow Tomatoes, Melons And PineapplesNext PostGeothermal energy – understanding the business case About CeraPhi®  CeraPhi is a vertically integrated Geothermal Development Company with proprietary technology and a mission to unlock the thermal heat underground to deliver sustainable, continuous, and totally green 24/7 baseload energy through a “plug and Play” sustainable technology platform.  To find out more and to explore investment opportunities with CeraPhi visit www.ceraphi.com For media inquiries and further information, please contact Holly Harvey-Perdicou holly.harvey-perdicou@ceraphi.com

NEWS Geothermal Farms Could Grow Tomatoes, Melons And Pineapples   23 August 2021 East Anglia could be transformed into a super-sustainable food production powerhouse growing crops like tomatoes, watermelons and pineapples by drawing heat from deep underground. That is the message from a geothermal business seeking farming partners across Norfolk and Suffolk who want to scale up to year-round crop cultivation, modelled on the success of the Netherlands. Great Yarmouth-based company CeraPhi Energy says its “game-changing technology” could transform the east of England’s food production capacity in greenhouse “villages” warmed by plentiful supplies of cheap, clean heat from the earth’s crust. Chief executive Karl Farrow, said: “Using heat as energy in its primary form, instead of using boilers to burn a fuel and generate that heat, could achieve a transformation in the way we produce and process our food.  “Why are there pineapples from South Africa and avocados from Mexico in our shops when we could be growing them ourselves? Why are we flying in tomatoes? “We could be growing Norfolk and Suffolk strawberries and watermelons, the best fruit you can grow per hectare – three cycles a year means a harvest of 40,000kg a year that could sell for £2.99 a kilo bringing in £120,000 a year – 12 months of the year.” Mr Farrow said Norfolk and Suffolk were ideal places for this technology as they had good ground gradients, especially in North Norfolk, and high temperatures aren’t needed for agriculture and food processing. Geothermal technology can also use heat to desalinate water used in agriculture, he added. The use of geothermal energy has helped catapult the Netherlands to become the second largest agricultural exporter in the world and the largest EU agri-food exporter. CeraPhi Energy, a business built on decades of expertise from the oil and gas industry, says it has developed technology to support similar expansion in East Anglia. Mr Farrow said: “Within just six years of tapping into deep heat from beneath their feet, the Dutch were exporting $111bn worth of agricultural goods, including $10bn of flowers and $7.4bn of vegetables. “Simple deep geothermal technology is heating hundreds of hectares of greenhouses to grow stacked agriculture for 12 months of the year without interruption. “Norfolk and Suffolk’s fortunes could follow Holland’s by using the clean and plentiful primary source of heat beneath our feet and decarbonise the industry at the same time.” Previous PostEnvironmental Social Governance Stakeholder Engagement Expert Joins CeraPhi Energy AdvisorsNext PostIGas signs Heads of Terms with CeraPhi for repurposing Oil and Gas wells for clean energy use About CeraPhi®  CeraPhi is a vertically integrated Geothermal Development Company with proprietary technology and a mission to unlock the thermal heat underground to deliver sustainable, continuous, and totally green 24/7 baseload energy through a “plug and Play” sustainable technology platform.  To find out more and to explore investment opportunities with CeraPhi visit www.ceraphi.com For media inquiries and further information, please contact Holly Harvey-Perdicou holly.harvey-perdicou@ceraphi.com

NEWS Environmental Social Governance Stakeholder Engagement Expert Joins CeraPhi Energy Advisors 10 August 2021 Geothermal delivery business CeraPhi Energy is building its strong focus on environmental social governance (ESG) with its latest appointment. Ilse Bermudez takes a seat on its Advisory Board as an ESG stakeholder engagement expert. Bermudez, who has been with Wood for 13 years in business development, brings a wealth of energy expertise to the board with an engineering career that has taken her around the world on offshore platforms and floating production, storage, and offloading vessels (FPSOS), and was one of the first female engineers to be hired to work in a processing facility. “I strongly feel that geothermal energy is key to improving the lives of people worldwide, and that CeraPhi is committed to this mission that I share. I am also fascinated by innovation and the endless possibilities for the usage of geothermal energy that are still to come.   “Not only am I personally committed to the 2050 Net Zero goal, but also to improve the quality of life for future generations. I want to be a part in a company that I believe in, and I believe that CeraPhi is investing in a technological leap for clean energy and human existence.”  Karl Farrow, CeraPhi founder and CEO, has known Ise for many years since meeting her in Africa when he was international business director at WOOD on a politically sensitive and challenging project.  “Ilse has just what CeraPhi needs to build on our already strong ethic around ESG to help us deliver our holistic values to energy food and water where I am sure she will play an instrumental role in the day-to-day strategic growth of the business.” Previous PostThird Energy Turns To Well Reuse For Clean Energy TransitionNext PostGeothermal Farms Could Grow Tomatoes, Melons And Pineapples About CeraPhi®  CeraPhi is a vertically integrated Geothermal Development Company with proprietary technology and a mission to unlock the thermal heat underground to deliver sustainable, continuous, and totally green 24/7 baseload energy through a “plug and Play” sustainable technology platform.  To find out more and to explore investment opportunities with CeraPhi visit www.ceraphi.com For media inquiries and further information, please contact Holly Harvey-Perdicou holly.harvey-perdicou@ceraphi.com

NEWS Third Energy Turns To Well Reuse For Clean Energy Transition Third Energy UK is working with renewable energy developer CeraPhi Energy to investigate reusing its non-producing gas wells for geothermal energy. Third has turned to CeraPhi Energy’s expertise and proprietary technology to assess the viability and commercial potential of repurposing wells at its north Yorkshire sites. Both companies say the results could be game-changing for geothermal ‘s role in the energy transition and have a revolutionary impact on the UK onshore oil and gas sector’s late life and ‘orphaned’ wells. Feasibility and conceptual studies for reusing the wells will start next month initially looking at MN4, KM3 and KM8 wells in the Vale of Pickering under the new head of terms signed with Third. The CeraPhi team’s focus will be on assessing the wells’ development potential for its patented technology CeraPhiWell™, a closed loop dowhole heat exchanger that draws up subsurface heat to be used for different applications for scalable baseload energy including: Direct heat for agriculture Residential heating/cooling Downhole green hydrogen production Incorporation of heat pumps for enhanced heat recovery A combination of heat and power CeraPhiWell™ is at the heart of CeraPhi’s strategy to de-risk geothermal energy scale-up using end-of-life and non-producing oil and gas wells and prove the “huge commercial potential” for geothermal energy production to achieve the 500GW of additional geothermal energy in the next 30 years in line with Paris 2050 Climate Accord for carbon reduction. CeraPhi CEO Karl Farrow Said:“This is a step change approach and to look at energy transition differently using older non-productive oil and gas assets to produce clean energy and help the decarbonisation process. “We have been discussing this with Third for more than nine months and it’s a great example of clean energy transition by an operator who can see a clear benefit and wants to lead by example.” Russell Hoare, Third Managing Director Said:“We have been assessing the possibility of repurposing our wells for geothermal energy and other uses for more than a year now, and as a continuation of the feasibility work already completed, we are excited to be engaging with CeraPhi on these specific projects with a view to developing those assets for the Net Zero future.” Third Energy aim is to diversify its existing power generation assets and develop new sources of energy consistent with the UK Government’s Net Zero 2050 targets. Mr Farrow said: “A baseload energy working alongside other renewables like wind and solar will make a significant contribution towards carbon reduction target. Also, repurposing oil and gas wells represents a new tool for the management of plugging and abandonment obligations and liabilities. “Geothermal energy production is simply the use of heat and the heat is everywhere. We know from oil and gas that the deeper you drill the hotter it gets and so he right temperatures can be accessed anywhere.” Third EnergyThe Third Energy team is proactively playing a part in innovative energy solutions and energy development in the transition from fossil fuels to sustainable energy. It is transforming its facilities into a multi-purpose energy park and research centre. Third Energy is a privately-owned group of power generation and onshore gas exploration companies based in North Yorkshire. Third Energy is owned by Alpha Energy, a U.S. based energy investor. Alpha has expertise in managing and developing energy assets in Europe and the U.S. Previous PostKen Seymour Joins CeraPhiNext PostEnvironmental Social Governance Stakeholder Engagement Expert Joins CeraPhi Energy Advisors About CeraPhi®  CeraPhi is a vertically integrated Geothermal Development Company with proprietary technology and a mission to unlock the thermal heat underground to deliver sustainable, continuous, and totally green 24/7 baseload energy through a “plug and Play” sustainable technology platform.  To find out more and to explore investment opportunities with CeraPhi visit www.ceraphi.com For media inquiries and further information, please contact Holly Harvey-Perdicou holly.harvey-perdicou@ceraphi.com

NEWS Ken Seymour Joins CeraPhi 20 May 2021 CeraPhi Energy is pleased to announce the appointment of Dr. Ken Seymour to head up its Geothermal Development Business Unit in Sub-Saharan Africa. Dr. Ken Seymour has >40 years’ experience in the energy sector, studying with a Shell Scholarship at University of Leeds where he obtained a first-class honour in degree in Mining Engineering and a PhD in Rock Mechanics. Commencing his career with BP in the late 1970’s as a Drilling Engineer moving on to Danbury and Ranger Oil as Drilling Superintendent, Drilling Manager, General Manager and Director. He obtained an MBA in 1994 from the Aberdeen Universities. “After working in Africa for thirty years, I find myself at the end of the hydrocarbon age, facing what seem to be a common trend in a shift in the way we use energy. I am excited by this opportunity to apply my experience in a Clean Energy space specifically the application and innovation behind CeraPhi’s geothermal technologies which can play a big part of energy security and the economic benefits within the Sub-Saharan region.” said Ken. Ken was the Director of Business Development when Ranger was sold to Canadian Natural Resources and went on as an executive board member of a six strong management committee that transformed CNR International’s management system and portfolio. He left CNR in 2003 to work as an independent consultant and has undertaken an interim management assignments for ROC Oil Company as their General Manager in Angola, Equator Exploration in Nigeria and E.ON Ruhrgas Nigeria. Since 2011 he has provided business development and drilling advisory services to Seplat Petroleum Development Ltd, ERHC Energy Incorporated, Genel Energy, Nordic Energy plc, MontD’Or Petroleum and others in recent years focusing on energy transition. “It’s great to have Ken onboard, and timing couldn’t be better with a number of projects entering FID evaluation with different partners in the African region. Our plug and play baseload energy solution can be game changer in that region bringing affordable energy and other valuable resources like access to clean water in communities where they really need it.” said Karl Farrow, CEO CeraPhi Energy. Previous PostRig Zone's Interview With CeraPhi Energy CEO Karl Farrow On Geothermal Energy A Different Kind Of Renewable ResourceNext PostThird Energy Turns To Well Reuse For Clean Energy Transition About CeraPhi®  CeraPhi is a vertically integrated Geothermal Development Company with proprietary technology and a mission to unlock the thermal heat underground to deliver sustainable, continuous, and totally green 24/7 baseload energy through a “plug and Play” sustainable technology platform.  To find out more and to explore investment opportunities with CeraPhi visit www.ceraphi.com For media inquiries and further information, please contact Holly Harvey-Perdicou holly.harvey-perdicou@ceraphi.com

NEWS Rig Zone’s Matthew Veazey Interview With CeraPhi Energy CEO Karl Farrow On Geothermal Energy – A Different Kind Of Renewable Resource   13 May 2021 A topic that has received considerable interest in the oil and gas community recently is exploiting geothermal energy. In April Rigzone presented one company’s insights on the potential for tapping into geothermal via some abandoned oil and gas wells. Given recent curiosity about geothermal, and to explore geothermal-oil and gas collaboration opportunities, Rigzone has sought out additional perspectives on the renewable resource and will present them in the coming days. One such voice is Karl Farrow, CEO of the geothermal project development firm CeraPhi Energy. “Geothermal energy is the next and future source of baseload energy and it’s not a struggle against oil and gas,” Farrow told Rigzone. “It’s an important tool in the evolution of how we will produce energy with results and benefits we now demand for a sustainable future.” Farrow also offered Rigzone his observations on a unique characteristic of geothermal among renewables, who could benefit from sourcing geothermal from abandoned oil and gas wells, and more. Read on for his insights. Rigzone: What makes geothermal stand out as a renewable resource? Karl Farrow: Geothermal is the only 24/7 100% clean source of baseload energy, meaning that it can provide continuous energy in theory forever. There are more than 6 billion years of stored energy under our feet, which is primarily the heat from the earth’s core radiating out trying to naturally escape. Geothermal is effectively the core’s heat connecting with natural subsurface water systems that create natural thermal gradients. In a market context, as a baseload resource geothermal energy is the only renewable resource that does not require ancillary services in order to be integrated into the grid – which is a significant cost and output issue for all variable dispatch resources, including wind and solar. In fact, the ability to produce geothermal energy either inside or within close proximity to populated areas will actually serve to reduce the demand for long-distance transmission and ancillary services. Rigzone: We keep hearing the term “energy transition.” Where do you see geothermal fitting in with the energy transition, particularly in North America? Farrow: The exploration of oil and gas has revolutionized the last 100 years of development on earth in both technology and infrastructure. Oil and gas is possibly one of the largest economic sectors globally, with most countries having some kind of business related to it. As we have scaled our global economy over the last 100 years, we have seen a natural negative effect on the environment specifically through energy demand and production. This activity continues. The transition now away from fossil-burning fuels is a natural turning point resulting from our wider understanding of sustainability. Renewable energy provides the commercial alternative that fills the gap, and geothermal further fills the gap as a baseload source of energy. Importantly, geothermal development is enabled by and relies upon all the expertise and technologies developed within the oil and gas sector over the last century, meaning the existing supply chains, resources and expertise will drive and support this particular element of the energy transition. We will always need oil and gas for certain essential purposes, but if we can position ourselves in a carbon-neutral environment with geothermal as a baseload energy provider, from an energy perspective then a massive shift into a real positive energy transition will occur. Rigzone: In the context of converting orphaned oil and gas wells to geothermal, who do you see as the primary end-users among industrial, residential, and/or commercial markets? Farrow: All of the above, specifically with utilization of heat. We currently use a vast amount of energy from electricity to produce heat and cooling. If we were to use just the heat from geothermal efficiently for industrial, commercial, and residential uses more effectively, that in itself would make a significant impact on our ability to decarbonize. Having a baseload energy working alongside other forms of renewables such as wind and solar will make a significant contribution towards immediate carbon reduction targets, while additionally, the repurposing of oil and gas wells represents a new tool for the management of plugging and abandonment (P&A) obligations and liabilities. Within the energy sector geothermal can provide targeted energy services across upstream, midstream, and downstream sectors, while from the investment perspective they place hard assets in the ESG (Environmental, Social, and corporate Governance) column which addresses a clear and present mandate. Finally, stranded well sites and/or fields offer energy supply solutions which could support the development of micro-grid and/or small energy hubs which, as mentioned above, can significantly reduce the cost, stability, and reliability issues with the power grad and transmission system. Rigzone: What are some misconceptions that someone in the oil and gas sector might have regarding geothermal? In other words, what might seem far-fetched about geothermal but actually is not? Farrow: I think there are three key points to mention with respect to misconceptions about geothermal energy. Perhaps the biggest misconception is that geothermal energy can only be produced where volcanic and natural fault systems are present. This assumption is primarily due to the fact that most conventional geothermal projects have been historically developed where thermal gradients are relatively shallow. However, geothermal energy production is simply the use of heat and the heat is everywhere. We have drilled millions of wells around the earth over 100-plus years in oil and gas, and we know from logging these wells that the deeper you drill the hotter it gets and thus accessing the right temperatures anywhere can be achieved. In simple terms, by just focusing on accessing and transferring heat and inducing an activator fluid you then produce thermal energy through vapor expansion which is sufficient to turn a turbine. The hotter the temperature, the greater the thermal reaction when fluid is introduced. Second, there are misconceptions that stem from the “hybrid” structure of geothermal energy production: the oil and gas sector