88 Energy Limited · ASX:88E
88 Energy — Investor Presentation (January 2019)
22 slides from 88 Energy's investor presentation, Jan 31, 2019
Slide 1: Diversified Explorer: North Slope of Alaska, Winx-1 Pre-Spud Presentation
DIVERSIFIED EXPLORER NORTH SLOPE OF ALASKA 88 ENERGY JANUARY 2019 WINX-1 PRE-SPUD PRESENTATION Nordic Rig #3 NORDIC CALISTA SERVICES
Slide 2: Disclaimer
Disclaimer 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 the Company and its bus
Slide 3: Disclaimer (cont.)
Disclaimer (cont.) 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. No offers of securitie
Slide 4: North Slope Oil & Gas Recent Discoveries and Activity
North Slope Oil & Gas Recent Discoveries and Activity Armstrong/ Repsol Pikka Unit 2015^4 ConocoPhillips: Willow 2017 Discovery 1.4 BN barrels (2C) Prudhoe Bay^3 Discovery 400-750 MMBO^5 15 BN barrels ENI / Caelus Transaction ConocoPhillips: Narwhal 2017 August 2018 Discovery 100-350 MMBO ^5 Tarn /
Slide 5: 88 Energy Corporate Snapshot
88 Energy Company Snapshot Corporate Snapshot 88 Energy Limited Current 88E Board and Management Project List Working Net (ASX, AIM: 88E) Interest Acres Shares on Issue 6,332m David Wall Managing Director Project Icewine 67%, Options on Issue 286m Michael Evans Non-Exec Chairman (Conventional / Oper
Slide 6: Alaska North Slope: Multiple World Class Assets
Alaska North Slope: Multiple World Class Assets Alaska Central North Slope: Multiple High Quality Assets in Portfolio • 88E Operator/Manager on 4 active Exploration Projects across 355,000 net acres • Game changing near-term activity: drilling imminent (Winx -1Q19); two farm-outs pending (Icewine Co
Slide 7: Alaska North Slope: 88E Prospects De-Risked by Recent Discoveries
Alaska North Slope 88E Prospects De-Risked by Recent Discoveries Project Icewine Acreage 88E PROSPECTS Nanushuk (Topset) discoveries Victor/ Indigo/ Charlie Pikka/Horseshoe: 1,400 MMBO Topset Narwhal: 100-350 MMBO 554 MMBO Willow: 500-700 MMBO Winx-1 Nanushuk Topset B Seabee/Torok Fan R 400 MMBO (Sc
Slide 8: Alaska North Slope Activity: Multiple Significant High Impact Events
Alaska North Slope Activity Multiple Significant High Impact Events 88 ENERGY NORTH SLOPE ALASKA: UPCOMING SIGNIFICANT EVENTS OPERATIONS & FORWARD PROGRAM 2018 2019 2020 TOTAL RESOURCE POTENTIAL RANGE: 3.25 - 4.45 BNBO 4Q 1Q 2Q 3Q 4Q 1Q 2Q WESTERN BLOCKS: WINX-1 NANUSHUK PLAY ICEROAD/ PAD CONSTRUCTI
Slide 9: Alaskan North Slope: Winx-1 Location / Nanushuk Fairway
Alaskan North Slope Winx-1 Location / Nanushuk Fairway WINX #1 PIKKA UNIT Western Leases Nanushuk Primary Objective Spud ~Feb 15 2019 QUGRUK 301: Nanushuk Fm flowed 2160 BOPD QUGRUK 8: Nanushuk Fm flowed 4600 BOPD PIKKA-B PUTU STONY HILL HORSESHOE 1/1A TARN OIL POOL (Seabee Fm) NANUSHUK TRENDS P R O
Slide 10: Brookian Sequence Distinctive Topset Amplitude Response
Brookian Sequence Distinctive Topset Amplitude Response ✓ Shoreface sands + Oil Shows + Seismic Amplitude = Viable Strat Trap Play! Amplitudes corresponding to lowstand sands perched on TOPSETS incised outer shelf/ upper slope SLOPE DOWNDIP LOCATION OF POTENTIAL SLOPE AND SANDS BASAL FLOOR FAN SAND
Slide 11: Winx-1 spud 1Q 2019: 400 MMBO
Western Blocks Winx-1 spud 1Q 2019: 400 MMBO Earn-In to Prospective Acreage by Drilling Horseshoe - 1 Oil Discovery Winx-1 Nanushuk 4 and 5 Nanushuk 3 Primary Objectives Q1 2019 Extension of Pikka Unit • Nanushuk Topset Play • Gross best estimate unrisked prospective resource 400 MMBO ; 144 MMBO net
Slide 12: Winx-1 Multiple Objectives
Western Blocks Winx-1 Multiple Objectives Stacked primary targets in proven Nanushuk play fairway WINX-1 Inline WINX-1 Crossline SSW NNE WNW ESE Tuluvak Fm Seabee Fm Nanushuk 5 Nanushuk 4 Torok Stacked Targets • Additional stacked potential in the Seabee and Torok Formations • Further upside with ta
Slide 13: Primary Targets: Nanushuk Seq 4 & 5
Western Blocks Primary Targets: Nanushuk Seq 4 & 5 Nanushuk 5 Topset: Nanushuk 4 Topset: RMS Fullstack +/- 15ms Widespread bright RMS Fullstack +/- 15ms amplitude event at Nanushuk WINX-1 Location Topset objectives –interpreted as corresponding to lowstand sands Nanushuk 5 Topset: Nanushuk 4 Topset:
Slide 14: Primary Targets: Nanushuk Seq 4 & 5
Western Blocks Primary Targets: Nanushuk Seq 4 & 5 • Sealing shales interpreted petrophysically and seismically above the Nanushuk topset 4 and 5 sequences – good sealing potential anticipated • Nanushuk 4 and Nanushuk 5 topsets at Winx location - strong amplitude response associated with small stru
Slide 15: Primary Targets: Nanushuk Seq 4 & 5
Western Blocks Primary Targets: Nanushuk Seq 4 & 5 • Similar amplitude response to successful Horseshoe#1/1A well – 4 miles away • Seal, in the form of shale, interpreted above both the target Nanushuk sequences • Subtle structural closure mapped on time/depth conversion – 4 way closure • Widespread
Slide 16: Winx Secondary Target
Western Blocks: Winx Secondary Target Seabee Fm: Basin Floor Fan • Stratigraphic trap: turbidites, basin floor fan sands within the Lower Seabee Fm • Upper limit of sand thickness ~ 40ft thick • Seal: Seabee shales, intraformational • Oil shows recorded at same horizon at Itkillik River Unit-1 – dis
Slide 17: Secondary Target: Torok Channelised Fan
Western Blocks Secondary Target: Torok Channelised Fan • 500 ft thick sequence from the mapped top Strike line through BFF of the ‘Basin Floor Fan’ to the base Base of • Mounded geometry, bi-directional downlap slope feeder channel and differential compaction consistent with Basin floor fan coarse c
Slide 18: Western Blocks Operations – Ice Road Construction
Western Blocks Operations – Ice Road Construction 18
Slide 19: Operations Summary – Spud Imminent
Western Blocks Operations Summary – Spud Imminent • Conductor installation underway • Ice road construction 99% complete • Ice pad construction 95% complete • Rig mobilisation imminent • Spud scheduled for ~15th February Calista Nordic Rig#3 - Stock photo 19
Slide 20: North Slope Projects Summary
North Slope Projects Summary Western Blocks • 400 MMBO prospective resource, gross mean unrisked, 3D seismic defined prospect in successful Nanushuk Play • Drilling scheduled to commence ~15th Feb 2019 Project Icewine: Conventional • Interim 3D seismic interpretation led to large upgrade to conventi
Slide 21: Board and Key Management
Board and Key Management 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 with Conoco and BP. Dr St
Slide 22: Contacts
Contacts 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 Broker: PO Box 1674, W