88 Energy Limited · ASX:88E

88 Energy — Investor Presentation (February 2023)

24 slides from 88 Energy's investor presentation, Feb 2, 2023

  1. Slide 1: Investor presentation February 2023

    For personal use only Investor presentation February 2023

  2. Slide 2: Disclaimer

    disclaimer This presentation (“Presentation”) has been prepared 88 Energy Limited (the “Company” or “88 Energy”) solely for informational meetings relating to it and is being delivered for information purposes only to a limited number of persons. By attending the meeting where this Presentation is m

  3. Slide 3: Alaska - Resources and reserves estimates & Disclosures

    Alaska - Resources and reserves estimates & Disclosures Phoenix Umiat Oil Field 1. Net entitlement to 88E. Refer to the ASX release dated 23 August 2022 for full details with respect 3. Refer to ASX Announcement on 11 January 2021 for further detail in relation to pricing For personal use only to th

  4. Slide 4: Corporate overview

    Corporate overview High impact Hickory-1 exploration well to spud in Q1 2023 targeting Alaskan For personal use only ALASKA 647 MMBO unrisked net mean prospective oil resources1 exploration SUPPORTED BY conventional U.S.A. TEXAN production Texan Permian Basin Texas assets Q4 2022 ~420 BOE per day2 1

  5. Slide 5: A premium E&D exposure

    88 ENERGY: A PREMIUM E&D EXPOSURE High impact Alaskan exploration supported by conventional Texan production assets For personal use only TAPS High impact ALASKAN INFRASTRUCTURE-LED MODERN HIGH QUALITY 2d acreage position EXPLORATION and 3D seismic ANALYSIS Contiguous TO MULTI-BILLION PRODUCTION CAS

  6. Slide 6: Investment highlights

    INVESTMENT HIGHLIGHTS Quality portfolio of Alaskan exploration projects supported by conventional Texan production For personal use only 1. Hickory-1 2. EXTENSIVE ALASKAN 3. Increasing DIRECT EXPLORATION WELL ACERAGE POSITION PRODUCTION exposure 6

  7. Slide 7: Corporate snapshot

    Corporate SNAPSHOT ASX:88E | AIM:88E | OTC:EEENF For personal use only CAPITAL STRUCTURE PLANNED ACTIVITY Q1 2023 Share price1 A$0.012  Planning, permitting and spud of the Hickory-1 exploration well at Project Phoenix Shares on issue2 18,266M  Project Leonis acreage final adjudication / lease pay

  8. Slide 8: 1. Hickory-1 exploration well

    For personal use only 1. Hickory-1 exploration well

  9. Slide 9: Hickory-1 optimal drilling location adjacent to TAPS

    1. Hickory-1 OPTIMAL DRILLING LOCATION adjacent to taps Hickory-1 vertical well to test SMD, SFS, BFF and KUP formations reservoir units1 drilling location INFORMED BY For personal use only Theta West-1 HICKORY-1 Deadhorse approx. 25 DRILLING miles AN ANAYSIS OF AN EXTENSIVE LOCATION Talitha-A Talit

  10. Slide 10: Project Phoenix: Re-focus on shallow, proven oil-bearing conventional reservoirs

    1. Extensive ALASKAN ACREAGE POSITION Project Phoenix: Re-focus on shallow, proven oil-bearing conventional reservoirs For personal use only  Icewine 1 and 2 (88 Energy) were designed and drilled to test a deep unconventional exploration play  Positive drilling results within the shallower Brookia

  11. Slide 11: Hickory-1 informed by analysis of an extensive data suite

    1. Hickory-1 informed by ANALYSIS OF AN EXTENSIVE DATA SUITE High quality 2D and 3D seismic data interpretation supported by AVO analysis1 For personal use only  Access to an extensive 2D seismic database facilitated initial determination of prospective volumes  The Franklin Bluffs 3D seismic data

  12. Slide 12: Corporate overview: Hickory-1 well to spud in Q1 2023

    Corporate overview Hickory-1 well to “Hickory−1 well location is selected to test significant fluid factor anomalies in the spud in Q1 2023 SMD−C to SMD−A interval.” For personal use only – Independent geophysical consultants QEYE targeting 647 MMBO 1,2 Hickory-1 Icewine-1 “Importantly, the Hickory-

  13. Slide 13: 2. Extensive Alaskan acreage position

    For personal use only 2. extensive ALASKAN acreage position

  14. Slide 14: Premium quality oil exploration assets

    2. Extensive ALASKAN ACREAGE POSITION Premium quality oil exploration assets For personal use only Project Phoenix Operator, ~75% working interest and ~62K net acres I Project Icewine West Operator, ~75% working interest and ~122K net acres P Project Peregrine * Operator, 100% working interest and ~

  15. Slide 15: Project Phoenix | Operator, ~75% WI

    2. Extensive ALASKAN ACREAGE POSITION Project Phoenix | Operator, ~75% WI For personal use only  Formerly referred to as Project Icewine East  Infrastructure led exploration – adjacent to TAPS and Dalton Highway  Benefiting from historic on-block drilling and logging data  Offset drilling result

  16. Slide 16: Project Icewine West | Operator, ~75% WI

    2. Extensive ALASKAN ACREAGE POSITION I Project Icewine West | Operator, ~75% WI For personal use only  Charlie-1 discovery well drilled in 2020 recovered hydrocarbons during wireline operations with an API gravity between high-40 to low-50 (Torok formation)  Targeting a follow-up appraisal well i

  17. Slide 17: Project Peregrine | Operator, 100% WI

    2. Extensive ALASKAN ACREAGE POSITION P Project Peregrine | Operator, 100% WI For personal use only  Project area encompasses 195,373 acres Harrier-1 proposed Harrier-1 proposed (N14N & N15) (N14N & N15)  Multiple independent drill-ready targets remain untested within the acreage (Harrier-1 and Me

  18. Slide 18: Umiat Oil Field | Operator, 100% WI

    2. extensive ALASKAN ACREAGE POSITION U Umiat Oil Field | Operator, 100% WI For personal use only  Located immediately adjacent to Project Peregrine  Historic flow testing demonstrated a sustained rate of 200 barrels per day with no water (with a maximum rate of 800 barrels of oil per day)  Recen

  19. Slide 19: Yukon Leases | Operator, 100% WI

    2. extensive ALASKAN ACREAGE POSITION Y Yukon Leases | Operator, 100% WI For personal use only  Historic oil discovery located in the acreage  Discussions with nearby lease owners for joint development area with due diligence ongoing  Remaining Yukon acreage retained on State lands after relinqui

  20. Slide 20: New acreage | Project Leonis

    2. EXTENSIVE ALASKAN ACREAGE POSITION New acreage | Project Leonis For personal use only  In November 2022, 88E was declared the highest bidder for 10 leases covering 25,600 contiguous acres immediately south of Prudhoe Bay1 TAPS  Preliminary interpretation of modern Storms 3D seismic identified t

  21. Slide 21: 3. Increasing direct production exposure

    For personal use only 3. INCREASING DIRECT PRODUCTION EXPOSURE

  22. Slide 22: Project Longhorn delivering solid cash flows from increased production

    3. INCREASING DIRECT PRODUCTION EXPOSURE Project Longhorn delivering solid cash flows from increased production  Circa 73% average net working interest in onshore For personal use only established production assets located in the Permian Basin, Texas2  Net 2.1 MMBOE 2P independently certified rese

  23. Slide 23: A premium E&D exposure

    88 ENERGY: A PREMIUM E&D EXPOSURE High impact Alaskan exploration supported by conventional Texan production assets For personal use only TAPS High impact ALASKAN INFRASTRUCTURE-LED MODERN HIGH QUALITY 2d acreage position EXPLORATION and 3D seismic ANALYSIS Contiguous TO MULTI-BILLION PRODUCTION CAS

  24. Slide 24: Corporate overview: Contacts

    Corporate overview CONTACTS COMPANY: Share Registry: ASX: Computershare Managing Director: Investor Services Pty Ltd Ashley Gilbert ASX: 88E For personal use only Registered Office: AIM: Computershare Ground Floor, 516 Hay St, Investor Services Pty Ltd Subiaco WA 6008 AIM: 88E Postal Address: PO Box

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