Ann: Invictus Energy Shareholder Briefing, page-357

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Grfe4

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24/06/24

02:50

Post #: 74450470
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Originally posted by SneakyJonny: ↑

Woops, thanks for posting that. I made the mistake of multiplying by the 60% efficiency rather than dividing by it. The efficiency being below 100% causes gas usage to increase whereas my calculation caused it to decrease. So my calculation did not make logical sense. After correcting for this mistake, my numbers roughly match that of ozblue (difference is likely due to rounding):

At 60% efficiency:

200 * 94.8 / 0.6 = 189600 cubic meters per day
189600 * 35.3 / 1000000 = 6.69 mmcf per day

At 40% efficiency:

1200 * 94.8 / 0.4 = 284400 cubic meters per day
284400 * 35.3 / 1000000 = 10.0 mmcf per day

Regarding the Upstream Online article, I still think it's a typo and was supposed to read 2 to 3 mmcf per day. Per the April 23 2024 press release, the project is starting out at 12 MW with the potential to increase to 50 MW. Using the 40% figure and adjusting for 12 MW yields the following:

12 * 24 * 94.8 / 0.4 = 68256 cubic meters per day
68256 * 35.3 / 1000000 = 2.41 mmcf per day

By pure coincidence, using the 12 MW value and 40% efficiency matches the same final result as my incorrect calculations, lol.

P.S. I like ozblue's reasoning on using the 40% efficiency and think that they will likely go with the lower capital cost option for this pilot project. Therefore, I will likely assume 40% going forward unless we hear otherwise.

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@SneakyJonny.

6.69 - 10 mmscf/d would be equivalent to approx. 0.2 - 0.3 million m3 per day. Maybe the Upstream Online Article typo error was due to missing out the decimal point?

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Ann: Invictus Energy Shareholder Briefing, page-357

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