88 Energy Limited · ASX:88E
88 Energy — Shareholder Meeting (April 2018)
18 slides from 88 Energy's shareholder meeting presentation, Apr 18, 2018
Slide 1: Project Icewine Operations Update - AGM April 2018
PROJECT ICEWINE NORTH SLOPE OF ALASKA For personal use only 88 ENERGY ANNUAL GENERAL PROJECT MEETING ICEWINE APRIL 2018 FEBRUARY 2017 OPERATIONS ICEWINE#2UPDATE UPDATE Doyon Arctic Fox DOYON DRILLING, INC.
Slide 2: Disclaimer
Disclaimer For personal use only The information contained in these slides has been prepared by 88 Energy Limited (the “Company”). The information contained in these slides, the presentation made to you verbally and any other information provided to you (in writing or otherwise) in connection with t
Slide 3: Disclaimer (cont.)
Disclaimer (cont.) For personal use only Any failure to comply with this restriction may constitute a violation of securities laws. No action has been or will be taken by the Company that would permit a public offer of its securities in any jurisdiction in which action for that purpose is required.
Slide 4: North Slope Oil & Gas 2017/18 Recent Discoveries and Activity
North Slope Oil & Gas 2017/18 Recent Discoveries and Activity For personal use only Armstrong/ Repsol Pikka Unit 2015^4 Discovery 1.4BN barrels (2C) Prudhoe Bay^3 ConocoPhillips: Willow 2017 15 BN barrels Discovery >300M barrels rec OSH.ASX November 2017 US$850m transaction Tarn / Meltwater 140M bar
Slide 5: Company Snapshot
Company Snapshot Corporate Snapshot For personal use only 88 Energy Limited Current 88E Board and Management Burgundy Xploration (ASX, AIM: 88E) JV Partner Shares on Issue 5,097m David Wall Managing Director Michael R. McFarlane, President Options on Issue 320m Michael Evans Non-Exec Chairman Closel
Slide 6: Project Icewine Highlights
Project Icewine HIGHLIGHTS Large, Strategic Acreage Position – Vast Majority of HRZ Play now Captured For personal use only • Joint Venture controls 475,000 gross acres (~301,000 acres net to 88E, Operator*) • Strategically located on infrastructure – all year access road / pipeline Primary Target:
Slide 7: HRZ Unconventional: Phase II
HRZ Unconventional: Phase II Icewine#2 Vertical Well, Stimulate & Flowtest For personal use only • Drilling / stimulation completed on time and to date remains under budget • Two stage, multi-perforation cluster stimulation over 128’ interval • Slickwater treatment comprising 27,837 barrels of water
Slide 8: HRZ Unconventional: Phase II Icewine#2 Workover Schematic
HRZ Unconventional: Phase II Icewine#2 Workover Schematic 1 2 Nitrogen (N2) injected to lighten fluid For personal use only column inside wellbore and reduce OD ID MD Franklin Bluffs Drill Pad inch inch DF (ft) downhole pressure to improve Tundra surface production from reservoir. Base Cellar 114.00
Slide 9: HRZ Unconventional: Play Status
HRZ Unconventional: Play Status For personal use only Icewine HRZ Shale Play: Encouraging results - attractive to a farminee to progress and create world-class commercial resource Screening Capture Exploration Pilot Appraisal Pilot Early Development Technical and commercial Identify Drill and test s
Slide 10: Project Icewine Conventional Prospectivity Portfolio
Project Icewine Conventional Prospectivity Portfolio For personal use only Heavenly#1 N Lima Icewine#2 Echo Alpha Stellar Bravo Malguk#1 • Conventional Prospective Resource Potential (mean unrisked) • 1.96 BN barrels gross; 1.05 BN net to 88E* • Multiple stacked leads predominantly stratigraphic, sl
Slide 11: Project Icewine: 2D Seismic Reprocessing
Project Icewine: 2D Seismic Reprocessing Highlights Deeper Potential For personal use only • Additional play potential identified on reprocessed 2D seismic and regional well petrophysics • Stacked Torok and Seabee Fm basin floor fan sands associated with lowstand events • Analogous play type to Melt
Slide 12: Project Icewine: Conventional Portfolio
Project Icewine: Conventional Portfolio Prospective Unrisked Recoverable Resources For personal use only • Bravo & Alpha Leads prominent on modern 2D seismic • Additional potential identified on legacy 2D – recently reprocessed and interpreted • Stacked leads offer opportunity to test multiple objec
Slide 13: Yukon Gold: New Acquisition
Yukon Gold: New Acquisition HIGHLIGHTS For personal use only Recent Acquisition of Existing Oil Discovery (subject to formal award in 2018) • Opportunistic (post 2017 lease expiry), low cost bid in improving oil price environment • 88E 100% ownership of ~15,520 acres through subsidiary Regenerate Al
Slide 14: Yukon Gold: Background
Yukon Gold: Background For personal use only • Yukon Gold #1 located on the YUKON GOLD eastern margin of the North Slope of LEASES Alaska, ~50 miles East of Prudhoe 15,520 acres Bay 88E: 100% • 120 MMbbls of recoverable oil reserves estimated (AEDC, 2015*) • Volumetric review / commercialisation str
Slide 15: North Slope Projects Summary
North Slope Projects Summary For personal use only Project Icewine: Unconventional - HRZ • Flow-back clean up phase ongoing with only ~20% of frac fluid recovered vs target of >30% - recommence April/May 2018 with artificial lift • Results to date encouraging and consistent with early stage results
Slide 16: In tribute to Paul Basinski
In tribute to Paul Basinski For personal use only
Slide 17: Board and Key Management
Board and Key Management For personal use only Mr David Wall – Managing Director Dr Stephen Staley – Non-Executive Director 4 years experience in strategy and planning at Woodside 34 years of energy management and technical experience including Petroleum. 6 years experience in financial services wit
Slide 18: Contacts
Contacts For personal use only Managing Director: David Wall Brokers: dwall@88energy.com Australia Hartleys Ltd Registered Office: As Corporate Advisor: Mr Dale Bryan + 61 8 9268 2829 Level 2, 5 Ord St, West Perth WA 6005 United Kingdom Postal Address: Cenkos Securities Plc As Nominated Adviser and