88 Energy Limited · ASX:88E
88 Energy — Investor Presentation (February 2017)
22 slides from 88 Energy's investor presentation, Feb 17, 2017
Slide 1: Project Icewine, North Slope of Alaska - Icewine#2 Update
PROJECT ICEWINE NORTH SLOPE OF ALASKA For personal use only PROJECT PROJECTICEWINE ICEWINEFEBRUARY FEBRUARY2017 2017 ICEWINE#2 ICEWINE#2UPDATE 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: Icewine: World Class Location, World Class Prize
Project Icewine: World Class Location, World Class Prize For personal use only 4
Slide 5: Company Snapshot
Company Snapshot Corporate For personal use only 88 Energy Limited Current 88E Board and Management Burgundy Xploration (ASX, AIM: 88E) JV Partner Shares on Issue 4,169m David Wall Managing Director Paul M. Basinski, Founder & CEO Options on Issue 698m Michael Evans Non-Exec Chairman Market Capitali
Slide 6: Icewine Highlights
Project Icewine HIGHLIGHTS Large, Strategic Acreage Position – Vast Majority of HRZ Play now Captured For personal use only • Joint Venture now controls rights to 690,000 gross acres (~400,000 acres net to 88E*, Operator) • Strategically located on infrastructure – all year access road / pipeline Pr
Slide 7: Icewine Timeline
Project Icewine Timeline For personal use only Phase I De-Risking Complete Phase II Appraisal Successful Evaluation of HRZ Icewine#2 - Stimulate & Flow Test Q2-Q3 2017 JV gross acreage Drilling results Multiple fund raisings Commenced expanded to neighbouring for A$26m permitting for 690,000 acres*
Slide 8: HRZ Unconventional: Volatile Oil Sweetspot Mapping
HRZ Unconventional: Volatile Oil Sweetspot Mapping For personal use only • Increased confidence of HRZ sweetspot based on thermal maturity, porosity, permeability, pressure and resource concentration • Drove decision to lease substantial additional acres in November 2016 • Proof of HRZ producibility
Slide 9: HRZ Unconventional: Phase II Icewine#2 Vertical Well, Stimulate & Flow Test
HRZ Unconventional: Phase II Icewine#2 Vertical Well, Stimulate & Flow Test Franklin Bluffs Drill Pad For personal use only Tundra surface • Icewine#2 Overview – Spud Early Q2 2017 Gravel fill Cellar hole Cellar Culvert Base Cellar • Single stage, multi-perforation cluster stimulation 30" Hole and p
Slide 10: HRZ Unconventional: Well Performance Analogues
HRZ Unconventional: Well Performance Analogues For personal use only • Typical performance for vertical Productivity per Rig phase of shale exploration / 1,600 10x 8,000 appraisal => 80-150bopd initial 1,400 7,000 production 1,200 34x 6,000 1,000 5,000 mcf/d bopd 800 4,000 9x • Historic uplift avera
Slide 11: Icewine Conventional Prospectivity Portfolio
Project Icewine Conventional Prospectivity Portfolio For personal use only N Icewine #2 well location ALPHA BRAVO Central Play Eastern Play Fairway Fairway Western Play Fairway 20 Miles Project Icewine 88 EnergyAcreage Position 88E - pre 2016 Licensing Round 77.5% 88E - 1H2017 post award of 2016 Lic
Slide 12: Icewine Conventional Portfolio: Prospective Oil Resources
Project Icewine Conventional Portfolio: Prospective Oil Resources- Unrisked Recoverable For personal use only PROJECT ICEWINE CONVENTIONAL LEAD SUMMARY • Leads predominantly stratigraphic Prospective Oil Resources - Unrisked Recoverable - MMBO • Alpha and Bravo Leads prominent given Net Mean to 88E
Slide 13: 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 30 years of energy management and technical experience including Petroleum. 6 years experience in financial services wit
Slide 14: Contacts
Contacts For personal use only Managing Director: Brokers: David Wall Australia dwall@88energy.com Hartleys Ltd As Corporate Advisor: Mr Dale Bryan + 61 8 9268 2829 Registered Office: Level 1, 83 Havelock St, West Perth United Kingdom WA 6005 Cenkos Securities Plc As Nominated Adviser and Broker: Mr
Slide 15: Appendix
APPENDIX For personal use only Doyon Arctic Fox DOYON DRILLING, INC. 15
Slide 16: HRZ Unconventional: What Makes a Top Tier Liquids-Rich Resource Play?
HRZ Unconventional – What Makes a Top Tier Liquids-Rich Resource Play? FLOW RATE IS KEY DRIVER–AHEAD OF OIL PRICE AND COST For personal use only WHAT CHARACTERISTICS DETERMINE FLOW RATE? HOW DOES ICEWINE MEASURE UP TODAY? VISCOSITY PRESSURE Measure of how easily hydrocarbon Reservoir energy that imp
Slide 17: HRZ Unconventional: Phase I Formation Evaluation - Complete
HRZ Unconventional: PHASE I Formation Evaluation - COMPLETE For personal use only Metric (Unit) Result Comment / Comparison Thermal Maturity Volatile Oil High rate, recovery, & performance GRI Matrix Permeability > Eagle Ford Very good for volatile oil resource plays Gross / Net Pay 197’ / 186’ Tier
Slide 18: HRZ Unconventional: Prospective Resource Assessment
HRZ Unconventional: Prospective Resource Assessment For personal use only 2.6 Billion Barrels (Liquids Only) Gross Mean Prospective Recoverable Resource from HRZ P90 P50 P10 Mean Pc# Gross Liquids Resource (mmbbl) 1,594 2,471 3,830 2,602 50% Net Attributable to 88 Energy (mmbbl) 1,236 1,916 2,970 2,
Slide 19: HRZ Unconventional: Internal Project Economics
HRZ Unconventional: Internal Project Economics# For personal use only • Cost Assumption based on Low-High cost scenarios • Resource Case based on well performance type curves over P10-P90 prospective resource estimate • Icewine#2 designed to provide additional insight into future lateral well perfor
Slide 20: Icewine Prospectivity: Conventional Analog: Tarn Oil Pool
Project Icewine Prospectivity Conventional Analog: Tarn Oil Pool For personal use only Project Icewine: N-S trending 2D seismic line with incised gullies/ feeder Tarn Depositional System (Annotated, after Helmold 2006) channel delivering sediments downslope to Western Play Fairway Leads • Project Ic
Slide 21: Icewine Conventional: Select Leads - Alpha - Eastern Play Fairway
Project Icewine Conventional: Select Leads- Alpha – Eastern Play Fairway For personal use only Alpha Project Icewine Prospectivity Map Sequence Brookian N Trap Stratigraphic pinchout to west and north Icewine #2 well location ALPHA Lobate toe of slope/ basal floor fan Play Working petroleum system B
Slide 22: Icewine Conventional: Select Leads - Bravo - Western Play Fairway
Project Icewine Conventional: Select Leads – Bravo – Western Play Fairway For personal use only Bravo Project Icewine Prospectivity Map N Sequence Brookian Icewine #2 Trap Stratigraphic pinchout to west and north ALPHA well location Turbiditic fan system on slope apron BRAVO Play Working petroleum s