88 Energy Limited · ASX:88E
88 Energy — Shareholder Meeting (May 2022)
20 slides from 88 Energy's shareholder meeting presentation, May 16, 2022
Slide 1: Annual General Meeting Presentation
For personal use only Annual General Meeting PResentation 16 May 2022
Slide 2: 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 made, or by
Slide 3: Corporate overview
Corporate overview For personal use only CAPITAL STRUCTURE BALANCE SHEET POSITION PROJECTS Ticker: ASX and AIM 88E Cash (31 March 2022) A$32.6M Name Working Interest Net size (Acre) Ticker: OTCQB EEENF Debt NIL NORTH SLOPE, ALASKA Shares on issue1 15,885 M Peregrine 100% ~200K Share price (13 May 20
Slide 4: Diversified U.S. Oil and Gas Producer and Explorer
Diversified U.S. Oil AND Gas Producer and Explorer For personal use only North Slope, Alaska Permian Basin, Texas • Focus remains on advancing projects in 88E’s extensive Alaskan North Slope exploration portfolio • Texas production cash flows secured to support future business activities • Acquisiti
Slide 5: Months of activity and achievements
12 months of activity and achievements Healthy financial position and strengthened technical skill depth For personal use only • A$32M cash1 plus ongoing production cash WTI CRUDE OIL PRICE flows provide strong platform post Merlin-2 140 expenditure for an active work-program • Refreshed Board and a
Slide 6: North Slope, Alaska
For personal use only Alaska North Slope,
Slide 7: A quality portfolio within the North Slope, Alaska
A QUALITY PORTFOLIO Within the North Slope, Alaska For personal use only ALASKA P Project PEREGRINE NORTH SLOPE BOROUGH Operator, 100% working interest and ~195K acres U Umiat oil field Operator, 100% working interest and ~18K acres I Project ICEWINE Operator, ~75% working interest and ~193K net acr
Slide 8: Project Peregrine
P PROJECT PEREGRINE Operator with 100% working interest For personal use only • The project area encompasses 195,373 acres with multiple large drillable prospects • On trend to successful discovered field to the north in same play type, Willow (COP 2013) • Anticipated exploration activity North (Con
Slide 9: Results Summary – Merlin-2 Well
Results Summary – Merlin-2 Well Consistent evidence of oil across all sample types For personal use only Merlin-2 1 CUTTINGS • Strong fluorescence and cut • Oily odour • Elevated C2 - C5 peaks over each package (N18–N20) 2 Mud gas • Total gas significantly above background reading • Visual fluor
Slide 10: Project Icewine
I PROJECT ICEWINE Operator with ~75% working interest For personal use only • Independent resource of 1.77 billion BOE1 • Third-party evaluation of the Shelf Margin Delta, Slope Fan and Basin Floor Fan play fairways indicate extension onto Project Icewine acreage • Recent Pantheon Resources (AIM:PAN
Slide 11: Yukon Leases
Y YUKON LEASES Operator with 100% working interest For personal use only • A historic oil discovery is located in the acreage • Discussions advanced with nearby lease owners for joint development area with due diligence ongoing PROSPECTIVE RESOURCE (MMBO, UNRISKED) Prospects Formation Low Best High
Slide 12: Umiat Oil Field
U UMIAT OIL FIELD Operator with 100% working interest For personal use only • 88 Energy acquired a 100% WI in Umiat in January 2021 • 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 8
Slide 13: Permian Basin, Texas
For personal use only Texas Permian basin,
Slide 14: Project Longhorn, Texas
Project Longhorn, Texas Acquisition of attractive central basin platform acreage in Andrews & Ector Counties For personal use only Key statistics Current gross Over 450 Boe production; per Day4 ~70% oil ~73% MAJORITY Lonestar operator and owner of ~24% WORKING average interest interest3 Net 2P 2.1 m
Slide 15: Project Longhorn forecasted production and cash flow
Project Longhorn Gross forecasted annual average production BOE per day Attractive production growth forecast 1P 2P 3P Potential Acquisitions For personal use only 2000 • Planned capital development activities have been certified Proven Reserves given their low risk nature 1500 • Differences between
Slide 16: Looking forward: an active work program
For personal use only Looking forward: an active work program
Slide 17: Key focus areas 2022
Key focus 1 Advance Alaskan acreage with significant upside remaining areas: • Seek to Unlock the potential of the Shelf Margin Delta, Slope For personal use only Fan and Basin Floor Fan play fairways on Project Icewine 2022 • Continued assessment and due diligence on Peregrine, Yukon and Umiat acre
Slide 18: Responsible operations
Responsible operations Delivering on our commitment to social and environmental responsibility For personal use only • Partnership with SALA MEDICAL at M2 - proactive OHSE and COVID protocols - to keep our people safe • Drilling programs providing employment to local Alaskans • Strict environmental
Slide 19: Contact
For personal use only Contact: Brokers: Share Registry: Australia ASX: Computershare Managing Director: Euroz Hartleys Ltd As Corporate Advisor: Investor Services Pty Ltd Ashley Gilbert Mr Dale Bryan + 61 8 9268 2829 ASX: 88E Registered Office: United Kingdom AIM: Computershare Ground Floor, 516 Hay
Slide 20: For personal use only
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