88 Energy Limited · ASX:88E
88 Energy — Investor Presentation (February 2025)
18 slides from 88 Energy's investor presentation, Feb 18, 2025
Slide 1: High-impact oil and gas exploration and appraisal
For personal use only HIGH-IMPACT oil and gas EXPLORATION AND APPRAISAL INVESTOR UPDATE | February 2025 Namibia: Texas, U.S.A: Frontier Exploration production North slope, Alaska: Big-hit exploration AND appraisal drilling
Slide 2: Disclaimer
DISCLAIMER This presentation (Presentation) has been prepared 88 Energy Limited (the Company or 88 Energy) solely for information purposes only to a limited number of persons. By reading the presentation slides, you agree to be bound by the following limitations. This Presentation is being supplied
Slide 3: Corporate Overview
88 ENERGY | HIGH-IMPACT oil and gas EXPLORATION AND APPRAISAL Total Gross Contingent Resource (2C) + Gross Untested Additional Prospective Resource Upside (unrisked Mean) CORPORATE OVERVIEW a proven exploration framework, underpinned by technical expertise and strategic partnerships CAPITAL STRUCTUR
Slide 4: Pipeline of oil and gas opportunities in two highly-prospective regions
88 ENERGY |HIGH-IMPACT oil and gas EXPLORATION AND APPRAISAL PIPELINE OF OIL AND GAS OPPORTUNITIES IN TWO HIGHLY-PROSPECTIVE REGIONS 1. Alaska, north slope: PRIORITY PROJECTS 2. ONSHORE Namibia: pel93 For personal use only U.S.A. Naingopo Well DEADHORSE Proposed tiri-1 exploration well HEMI SPRINGS
Slide 5: Growing value as technical and developmental de-risking milestones are achieved
88 Energy| HIGH-IMPACT oil and gas EXPLORATION AND APPRAISAL GROWING VALUE AS TECHNICAL AND DEVELOPMENTAL DE-RISKING MILESTONES ARE ACHIEVED EARLY EXPLORATION EXPLORATION AND APPRAISAL DEVELOPMENT AND PRODUCTION CLOSURE For personal use only Indicative project value ACQUISITION DEVELOPMENT Project S
Slide 6: Alaska, North Slope: Project Leonis and Project Phoenix
1. ALASKA, NORTH SLOPE PROJECT LEONIS AND PROJECT PHOENIX | TWO OPPORTUNITIES OF SIGNIFICANT QUALITY AND SCALE For personal use only “ We have something that no other manufacturing nation will ever have: the largest amount of oil and gas of any country “ on Earth … and we are going to use it. ALASKA
Slide 7: Project Leonis: Tiri-1 exploration well planned for Q1 CY26
1. PROJECT LEONIS: Tiri-1 exploration well PLANNED FOR q1 cy26 FOCUSED ON REFINING DRILLING LOCATION & DELIVERING MULTI-ZONE WELL OF SCALE PROJECT LEONIS | ALASKA, NORTH SLOPE Project LEONIS : A MULTI-zone opportunity of considerable scale ► Recently expanded acreage position: New leases targeted fo
Slide 8: Proposed Tiri-1 well location to be optimised for a dual zone test
1. PROJECT LEONIS: Tiri-1 exploration well PLANNED FOR q1 cy26 PROPOSED TIRI-1 WELL LOCATION TO BE OPTIMISED FOR A DUAL ZONE TEST USB PROSPECT SWEET SPOTS cANNING FORMATION SWEET SPOTS SEISMIC CROSS-SECTION For personal use only N N INDICATIVE TIRI-1 WELL LOCATION USB PROSPECT CANNING FORMATION ► To
Slide 9: Tiri-1 exploration well to target untested Canning
1. PROJECT LEONIS: Tiri-1 exploration well to target untested canning INDICATIVE TIRI-1 WELL LOCATION TO OPTIMALLY TEST USB AND CANNING TARGETS Inversion result- canning hydrocarbon probability Inversion result- canning + USB hydrocarbon probability INDICATIVE TIRI-1 For personal use only CHANNEL TH
Slide 10: Project Phoenix: de-risked with oil flow to surface at Hickory-1
1. Project PHOENIX: de-risked with OIL FLOW TO SURFACE at hickory-1 A MATURED MULTI-RESERVIOR DISCOVERY SET FOR A CARRY THROUGH PRODUCTION TESTING PROJECT PHOENIX | ALASKA, NORTH SLOPE Project PHOENIX : DE-Risking A High Potential Development Opportunity ► Significant multi-reservoir discovery For p
Slide 11: Multi-reservoir contingent resource comprises SFS and SMD-B reservoirs
1. Project PHOENIX: de-risked with OIL FLOW TO SURFACE at hickory-1 MULTI-RESERVOIR CONTINGENT RESOURCE COMPRISES SFS AND SMD-B RESERVIORS HICKORY-1 FLOWED LIGHT CRUDE OIL IN SMD-B AND UPPER SFS RESERVIORS Project Phoenix Gross (100%) Contingent Resources 4 For personal use only Reservoir 153 Audito
Slide 12: Farm-out agreed for Project Phoenix horizontal test well
1. PROJECT PHOENIX: de-risked with Oil Flow to surface at hickory-1 FARM-OUT AGREED FOR PROJECT PHOENIX HORIZONTAL TEST WELL TRANSACTION HIGHLIGHTS indicative project phoenix development timeline and upcoming milestones ► Carry secured for up to US$29M for up to 50% For personal use only H1-25 H2-25
Slide 13: Namibia, onshore: a new frontier of exploration
2. Namibia, onshore A NEW FRONTIER OF EXPLORATION IS BEING RAPIDLY UNLOCKED MONITOR EXPLORATION RECONNAISSANCE ENERGY AFRICA For personal use only 88 ENERGY’s PARTNER NEAR NEIGHBOUR AND PEL 93 OPERATOR ACTIVELY DRILLING successful completion OF 200 line-km of Encountered over 50 m net reservoir in t
Slide 14: PEL93 Namibia: big-hit frontier exploration
2. PEL93 NAMIBIA: BIG-HIT FRONTIER EXPLORATION ONE OF THE WORLD’S MOST PROSPECTIVE NEW EXPLORATION REGIONS PEL 93 | OWAMBO BASIN Well-defined sedimentary basin with proven oil charge, reservoirs and seals For personal use only PEL93 | OWAMBO BASIN CURRENT 20% WI WITH OPTION TO EARN UP TO 45% with A
Slide 15: Ten independent leads confirmed with seismic interpretation
2. PEL93 NAMIBIA: BIG-HIT FRONTIER EXPLORATION TEN INDEPENDENT LEADS CONFIRMED WITH SEISMIC INTERPRETATION PROPOSED LEAD INVENTORY OUTLINED ON A 3D VIEW OF INTERPRETED 2D SEISMIC DATA MULTI-BILLION BARREL EXPLORATION OPPORTUNITY ► A series of large, anticlinal structures identified For personal use
Slide 16: Independent upcoming catalysts at all projects
88 ENERGY |HIGH-IMPACT, oil and gas DISCOVERY AND APPRAISAL INDEPENDENT UPCOMING CATALYSTS AT ALL PROJECTS SET TO SUPERCHARGE VALUE PROJECT LEONIS PROJECT PHOENIX Pel93 NAMBIA For personal use only 1 2 3 Tiri-1 exploration well LONG-TERM HORIZONTAL PRODCUTION UNCOVERING NEW FRONTIER oil and PLANNED
Slide 17: The premium oil and gas exploration exposure
88 ENERGY | the PREMIUM OIL AND GAS EXPLORATION EXPOSURE For personal use only TAPS High impact ALASKAN INFRASTRUCTURE-LED frontier Namibian acreage position appraisal program onshore exploration Contiguous TO MULTI-BILLION PRODUCTION CASHFLOWs MODERN HIGH QUALITY 2D BARREL OIL RESOURCE SUPPORT OVER
Slide 18: For personal use only
For personal use only