88 Energy Limited · ASX:88E

88 Energy — Corporate Update (April 2023)

12 slides from 88 Energy's corporate update, Apr 19, 2023

  1. Slide 1: Project Phoenix Hickory-1 Initial Summary of Results and Forward Plan

    For personal use only PROJECT PHOENIX HICKORY-1 Initial Summary of Results and forward plan April 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: Project Phoenix pre-drill Resource estimates

    Project phoenix pre-drill Resource estimates Project Phoenix North Slope Alaska For personal use only Unrisked Net Entitlement to 88E1,6 Prospective Oil Resources (MMstb)4,5 Prospects (Probabilistic Method) Low (1U) Best (2U) High (3U) Mean COS3 Shelf Margin Delta (SMD A, B & C) 44 140 326 145 81% S

  4. Slide 4: Hickory-1 Summary

    (88E ~75% Working Interest ) PROJECT PHOENIX (88E Nil Working Interest) For personal use only Hickory-1 Summary I. petrophysical interpretation confirmed presence of multiple hydrocarbon bearing pay zones across all pre-drill targets, in addition to identification of the new Upper SFS reservoir. II.

  5. Slide 5: Hickory-1 data indicates multiple zones of interest to be tested

    Hickory-1 data indicates multiple zones of interest to be tested Multiple hydrocarbon bearing pay zones identified across all pre-drill targets and the new Upper SFS PRE-DRILL ASSESSMENT POST-DRILL INITIAL OBSERVATIONS For personal use only UNRISKED NET ENTITLEMENT TO 88E2 PROSPECTIVE OIL RESOURCES

  6. Slide 6: Summary of Initial Results and Observations

    Summary of Initial Results and Observations Hickory-1 well cased and suspended in preparation for flow test in 2023/2024 Shelf Margin Delta (SMD) For personal use only 1  Presence of hydrocarbons evidenced by fluorescence under ultraviolet light in cuttings; noted by both RPS wellsite geologists an

  7. Slide 7: Work program: flow testing of the Hickory-1 program

    WORK PROGRAM flow testing of the Hickory-1 program Drilling and logging complete Q1 23 Q2 23 Q3 23 Q4 23 Q1 24 Hickory-1 well For personal use only Analysis of well results commenced   Flow test designs underway   scheduled for Permitting and mobilisation Flow testing     2023/2024 Alaskan P

  8. Slide 8: Offset drilling results provide confidence in flow testing

    OFFSET DRILLING RESULTS provide confidence in flow testing Hickory-1 scheduled for flow testing as early as possible in 2023/2024 Alaskan winter season Alkaid 1 (2015 – vertical well) For personal use only (88E ~75% Working Interest ) (88E Nil Working Interest) - Alkaid Sand primary zone of interest

  9. Slide 9: Hickory-1 results compare favourably with analogue field

    Hickory-1 results compare favourably with analogue field Initial pre-drill expectations met or exceeded with further post well analysis to confirm For personal use only  The producing Codell1 field is a Unit CODELL SANDSTONE PROJECT PHOENIX DJ BASIN NORTH SLOPE strong developed analogue delivering

  10. Slide 10: Project Phoenix: High impact Alaskan exploration supported by Texan production

    PROJECT PHOENIX High impact Hickory-1 exploration Alaskan For personal use only ALASKA well flow test planned for 2023/2024 winter exploration season. Pre-drill unrisked net mean prospective oil resources. 647 MMBO1 SUPPORTED BY conventional U.S.A. TEXAN production Texas Texan Permian Basin assets 1

  11. Slide 11: Premium exploration and development exposure

    PREMIUM EXPLORATION AND DEVELOPMENT 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 DATA ANALYSIS Contiguous TO MULTI-BILLION PRODUC

  12. Slide 12: Contacts

    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 352, Subiaco WA 69

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