88 Energy Limited · ASX:88E
88 Energy — Investor Presentation (July 2023)
21 slides from 88 Energy's investor presentation, Jul 31, 2023
Slide 1: Investor Update July 2023
For personal use only Investor Update july 2023
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
Slide 3: Resources and reserves estimates & Disclosures
Resources and reserves estimates & Disclosures PROJECT PHOENIX 1. Pre-drilling net entitlement to 88E. Refer to the ASX release dated 23 August 2022 for full details PROJECT ICEWINE WEST 2. Net Entitlement to 88E. Refer to the ASX release dated 10 November 2020 for full details with respect with res
Slide 4: Project Phoenix
PROJECT PHOENIX High impact Hickory-1 exploration Alaskan appraisal ALASKA well flow test planned for For personal use only 2023/2024 winter program season. Pre-drill unrisked net mean prospective oil resources. 647 MMBO1 SUPPORTED BY conventional U.S.A. TEXAN production Texas Texan Permian Basin as
Slide 5: Premium Exploration & Development Exposure
88 ENERGY | PREMIUM Exploration & Development EXPOSURE High impact Alaskan exploration & appraisal supported by conventional Texan production For personal use only TAPS High impact ALASKAN INFRASTRUCTURE-LED MODERN HIGH QUALITY 2d acreage position appraisal program and 3D seismic ANALYSIS Contiguous
Slide 6: Corporate Snapshot
Corporate SNAPSHOT ASX:88E | AIM:88E | OTC:EEENF CAPITAL STRUCTURE PLANNED ACTIVITY 2HY 2023 Share price1 A$0.007 Project Phoenix: For personal use only Shares on issue2 20,108M Finalise evaluation of all data obtained from the Hickory-1 exploration well Finalise planning, permitting and desig
Slide 7: Extensive Alaskan Acreage Position
Extensive ALASKAN ACREAGE POSITION Premium quality oil exploration assets Project Phoenix For personal use only Operator, ~75% working interest and ~62K net acres I Project Icewine West Operator, ~75% working interest and ~122K net acres L Project Leonis Operator, 100% working interest and ~25K net
Slide 8: Project Phoenix: Hickory-1 Success
For personal use only Project phoenix HICKORY-1 SUCCESS
Slide 9: Hickory-1 Summary
PROJECT PHOENIX Hickory-1 Summary For personal use only 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. Estimated net pay calculated from wireline data of OVER
Slide 10: Hickory-1 multiple zones of interest tested
Hickory-1 multiple zones of interest tested Multiple hydrocarbon bearing pay zones identified across all pre-drill targets and the new Upper SFS PRE-DRILL ASSESSMENT POST-DRILL INITIAL OBSERVATIONS UNRISKED NET ENTITLEMENT TO 88E2 PROSPECTIVE OIL RESOURCES (MMSTB)3,4 HICKORY-1 For personal use only
Slide 11: Hickory-1 post well testing update
Hickory-1 post well testing update Post well analysis and testing ongoing with positive outcomes to date • 14/18 sidewall core extracts revealed evidence For personal use only of hydrocarbons in High Resolution Gas Chromatographs • Further geochemical testing will help to reveal which source rocks a
Slide 12: Work Program: Hickory-1 flow testing
WORK PROGRAM High impact flow Hickory-1 program Drilling and logging complete Q1 23 Q2 23 Q3 23 Q4 23 Q1 24 testing of multiple Analysis of well results commenced For personal use only Flow test designs underway zones in the Permitting and mobilisation Flow testing Hickory-1 well Pla
Slide 13: Hickory-1 results compare favourably with analogue field
Hickory-1 results compare favourably with analogue field Initial pre-drill expectations met or exceeded with post well analysis underway The producing Codell1 field is a strong Unit CODELL SANDSTONE PROJECT PHOENIX developed analogue delivering robust DJ BASIN NORTH SLOPE For personal use only eco
Slide 14: Phased, Scalable Development approach
Phased, SCALABLE DEVELOPMENT approach Positive exploration drilling and flow test results to expedite extended horizontal well test Phased future For personal use only development strategy to minimise upfront investment hurdles Multiple conceptual development scenarios generated to inform future tes
Slide 15: Extensive Alaskan exploration & appraisal acreage
For personal use only Extensive ALASKAN exploration & appraisal ACREAGE
Slide 16: Project Leonis strategic new acreage
PROJECT LEONIS strategic NEW ACREAGE Project Leonis | 100% WI In November 2022, 88E was declared the highest bidder for 10 leases covering ~25k contiguous acres immediately south of Prudhoe Bay, with formal award in April 2023. For personal use only Preliminary interpretation of modern Storms 3D
Slide 17: Alaskan State Lands exploration acreage
Alaskan State Lands exploration ACREAGE Project Icewine West | Operator, ~75% WI Charlie-1 discovery well drilled in 2020 recovered hydrocarbons during Work commenced on For personal use only wireline operations with an API conceptual development gravity between high-40 to low-50 scenarios for fut
Slide 18: Alaskan NPRA (Federal) exploration acreage
Alaskan npra (FEDERAL) exploration ACREAGE Project Peregrine and Umiat Oil Field | Operator, 100% WI Project Peregrine Large project area of ~126k acres in a proven petroleum province For personal use only Resources are split across 3 prospects: Merlin (Nanushuk Topset), Harrier (Nanushuk Topset
Slide 19: Project Longhorn: Cashflows support Alaskan operations
For personal use only PROJECT LONGHORN CASHFLOWS SUPPORT Alaskan operations
Slide 20: Project Longhorn
PROJECT LONGHORN Solid cash flows from increased production support high impact exploration Circa 62% average net working interest in onshore established production assets located in the Permian Basin, Texas. Net 2.98 MMBOE 2P independently certified For personal use only reserves1,2,3 40 Produc
Slide 21: Contacts
CONTACTS COMPANY: Share Registry: ASX: Computershare Managing Director: Investor Services Pty Ltd Ashley Gilbert ASX: 88E Registered Office: AIM: Computershare Ground Floor, 516 Hay St, Investor Services Pty Ltd For personal use only Subiaco WA 6008 AIM: 88E Postal Address: PO Box 352, Subiaco WA 69