88 Energy Limited · ASX:88E
88 Energy — Investor Presentation (August 2018)
19 slides from 88 Energy's investor presentation, Aug 3, 2018
Slide 1: Project Icewine North Slope of Alaska
PROJECT ICEWINE NORTH SLOPE OF ALASKA For personal use only PROJECT88ICEWINE ENERGYFEBRUARY AUGUST 2018 2017 CONVENTIONAL RESOURCE UPGRADE ICEWINE#2 & UPDATE PORTFOLIO 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 5,557m David Wall Managing Director Michael R. McFarlane, President Options on Issue 310m Michael Evans Non-Exec Chairman Closel
Slide 6: Alaska North Slope Projects
Alaska North Slope Projects HIGHLIGHTS Icewine: Large Acreage Position Containing Two Multi Billion Barrel Oil Plays 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 •
Slide 7: Alaskan North Slope: Proven Petroleum Province for Conventional Oil
Alaskan North Slope Proven Petroleum Province for Conventional Oil • For personal use only Considered one of the most prolific petroleum provinces onshore USA • Hosts the largest US conventional oil field discovery at Prudhoe Bay • 15 Billion Barrels produced (USGS 2005) • Recent Brookian convention
Slide 8: Significant Upgrade to Conventional Prospective Resource
Significant Upgrade to Conventional Prospective Resource Multiple Large Scale Appraisal and Exploration Targets For personal use only PROJECT ICEWINE CONVENTIONAL PORTFOLIO Prospective Resources MMBO • Multiple leads promoted to drillable 2018: Post Phase 1 Icewine 3D Mapping and Interpretation Pros
Slide 9: Project Icewine: Near Term Appraisal Drilling
Project Icewine: Near Term Appraisal Drilling Substantial Unevaluated Exploration Potential For personal use only P R O J E C T I C E W I N E Western Play Fairway Central Play Fairway Eastern Play Fairway • 475,000 contiguous acres • Only 25% of project acreage currently covered by 3D seismic • 2 bi
Slide 10: Project Icewine: Western Play Fairway Prospect Portfolio
Project Icewine Western Play Fairway Prospect Portfolio For personal use only PROJECT ICEWINE CONVENTIONAL PORTFOLIO • Gross 1,477 MMBO prospective resource Prospective Resources MMBO 2018: Post Phase 1 Icewine 3D Mapping and Interpretation (mean unrisked) in Western Play Fairway Prospects and Leads
Slide 11: Stellar Appraisal Target
825 MMBO Prospective Resource Appraisal Target For personal use only • A single well location can appraise four stacked Seabee and Torok Fm sandstones, each have Lower previously been Lima demonstrated to contain hydrocarbons in P R O J E C T I C E W I N E Heavenly-1 and/or Malguk-1 Icewine 3D Heave
Slide 12: Project Icewine: Potential Exploration Drilling Location
Project Icewine Potential Exploration Drilling Location For personal use only • A single well location Icewine 3D could test three separate Brookian plays in the eastern part of the Icewine 3D: P R O J E C T I C E W I N E • Mid Schrader Bluff Topset/ transgressive sand Bravo play Upper Lima • Cannin
Slide 13: Western Blocks MMBO Prospect
Western Blocks 400 MMBO Prospect Drilling 1Q 2019 (144 MMBO net to 88E) Recent Transaction to Earn-In to Large For personal use only Seismic amplitude map Prospect to be Drilled 1Q2019 potential indicator of oil ADL 391718 filled sand extent • 88E earning 36% by paying 40% of drilling Itkillik River
Slide 14: Icewine HRZ Shale Play: Encouraging Results to Date
Icewine HRZ Shale Play: Encouraging Results to Date Project Icewine captured the HRZ sweet spot in over-pressured, low-viscosity super-critical phase oil For personal use only • Data supports move to horizontal appraisal drilling and further fairway delineation • Acreage position supports large well
Slide 15: Yukon Gold: New Acquisition
Yukon Gold: New Acquisition HIGHLIGHTS For personal use only Recent Acquisition of Existing Oil Discovery • Opportunistic, (post 2017 lease expiry), low cost bid in improving oil price environment • 88E 100% ownership of ~15,520 acres through subsidiary Regenerate Alaska, Inc • Located in close prox
Slide 16: Yukon Gold: Background
Yukon Gold: Background • Yukon Gold #1 located on the For personal use only 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 based on 3D seismic / c
Slide 17: North Slope Projects Summary
North Slope Projects Summary Project Icewine: Unconventional - HRZ For personal use only • De-risked by two wells with results to date encouraging and consistent with early stage results from other successful plays • Farm-out process underway to fund further appraisal Project Icewine: Conventional •
Slide 18: 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 19: 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