H3 Energy Limited · ASX:H3E

H3 Energy — 2019 Good Oil Conference

11 slides from H3 Energy's conference presentation, Sep 11, 2019

  1. Slide 1: Whitebark Investor Presentation: Rex-2 Continues to Outperform

    Whitebark Investor Presentation Rex-2 Continues to Outperform 11 September 2019 Updated Rex-2 Flow rate continues to exceed initial expectations Whitebark Energy (ASX : WBE) is pleased to provide an updated investor presentation for the 2019 Good Oil Conference. The attached presentation includes an

  2. Slide 2: Growth through disciplined execution

    Growth through disciplined execution Good Oil September 2019 Slide 1

  3. Slide 3: Investment Highlights

    INVESTMENT HIGHLIGHTS 1 Successful execution of Wizard Lake Drilling Program  Rex-1 Discovery Dec 2018 – facilities and pipeline June 2019  Rex-2 stellar result of over 800 boe/d >50% oil (gross) in September 2019  Now targeting >1,500 boe/d production (>70% oil) from Wizard Lake CY2020  Rex-3 t

  4. Slide 4: Corporate Overview

    CORPORATE OVERVIEW ABOUT WHITEBARK ENERGY SHARE PRICE PERFORMANCE  Whitebark is an ASX listed Company, focused on 70 1.2 the development of Canadian oil and gas assets  Growing current net production 500 boe/d to a 60 1 targeted 1,500+ boe/d in CY2020  Current economic climate presenting signific

  5. Slide 5: Developing a Track Record of Successful Execution

    DEVELOPING A TRACK RECORD OF SUCCESSFUL EXECUTION Exploration  Drilled two horizontal wells at Wizard Lake during FY 2018/19*  On budget and on schedule  Rex-1 December 2018, Rex-2 August 2019, Rex-3 planning underway, targeting spud before end of CY2019 Development  Installed cost effective mod

  6. Slide 6: Rex-2 – Peak Rate of 865 boe/d

    REX-2 – PEAK RATE OF 865 BOE/D - NATURAL FLOW Rex-2 drilled and fracced in August, tested in September 2019  Initial (constrained) peak production 865 boe/d* − 540 bbls/d oil − 2 mmscf/d gas  Elevated porosity levels of up to 21% recorded through the sand (Rex-1: 18%)  Toe Vertical Depth 1,572 me

  7. Slide 7: Rex-2 Production Test Operations

    REX-2 PRODUCTION TEST OPERATIONS*  Well flowing under pump Day 1 - 2  First oil production  Pump was disengaged and well began to Day 3 free flow  Peak rate of 865 boe/d. Decision made to choke back well due to noise levels being Day 4 exceeded by the flare. Oil and gas rates continue to increas

  8. Slide 8: Q4 Next Steps – Pipeline, Facilities and Rex-3

    Q4 NEXT STEPS – PIPELINE, FACILITIES AND REX–3 Infrastructure  ~3km pipeline to be built to connect to local gas network to sell Wizard gas  Upgrade of modular facilities to ensure higher gas and oil production rates can be managed safely and efficiently Rex-3  WBE Working Interest 50% after comp

  9. Slide 9: Investment Summary – Participate in a 2019 Growth Story

    INVESTMENT SUMMARY – PARTICIPATE IN A 2019 GROWTH STORY Transformational Period for the Business  Secured Wizard Lake opportunity  First two successful wells drilled on time and on budget  Results above expectations  Modular and scaleable infrastructure  Speedy approvals, quick implementation 

  10. Slide 10: Disclaimer

    DISCLAIMER No representation or warranty, expressed or implied, is made by Whitebark Energy Ltd that the material contained in this presentation will be achieved or prove to be correct. Except for statutory liability which cannot be excluded, Whitebark Energy, their officers, employees and advisers

  11. Slide 11: Thank you

    Thank you David Messina Managing Director E: david.messina@whitebarkenergy.com Slide 10

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