88 Energy Limited · ASX:88E
88 Energy — Investor Presentation (November 2021)
19 slides from 88 Energy's investor presentation, Nov 30, 2021
Slide 1: Merlin-2 Investor update November 2021
For personal use only Merlin-2 Investor update November 2021
Slide 2: 88 Energy is an oil and gas company focused on North Slope of Alaska
For personal use only 88 Energy IS AN oil and gas company FOCUSED ON unlocking value from a portfolio of world class assets on the North Slope OF ALASKA the merlin-2 appraisal well Merlin-2 Merlin-1 scheduled for Q1 2022 is targeting 652 million N14 N19 N20 barrels1,2 N18 1. Mean unrisked resource -
Slide 3: Investment Highlights
INVESTMENT 1 World class portfolio of Alaskan acreage HIGHLIGHTS Combined portfolio with 3.4 billion BOE* 2 prospective resource For personal use only and 2P reserves of 94 million barrels of oil* 1 2 Merlin-2 appraisal well planned q1 2022 Follow up to the successful Merlin-1 exploration well in Q1
Slide 4: North Slope, Alaska: Major discoveries and 88 Energy acreage map
NORTH SLOPE, Alaska Bn BBL Major discoveries and 88 Energy acreage map For personal use only RECENT Local DISCOVERIES Brookian sequence 1.40 BBO 0.75 BBO Pikka, 20162 Willow, 20183 88 Energy acreage Conventional prospective resource 1.62 BBO 1.77 BBO Project Peregrine1,4,5 Project Icewine1,4,5 2 Mer
Slide 5: North Slope activity 2022
North Slope activity 2022 Delivering exceptional opportunities to shareholders year-on-year For personal use only • 88 Energy has an exceptional track record of delivering exploration wells year-on-year, providing shareholders with exposure to multiple significant exploration opportunities • Merlin-
Slide 6: Project Peregrine and Merlin-2 appraisal well
For personal use only Project Peregrine AND Merlin-2 appraisal well
Slide 7: Project Peregrine
PROJECT PEREGRINE Operator with 100% working interest For personal use only • The project area encompasses 195,373 acres with multiple large drill-ready prospects • On trend with the proven, Willow oil field to the north (COP 2013) • The Merlin-1 well drilled in Q1 2021, demonstrated; • the presence
Slide 8: Project Peregrine: Merlin-1 confirmed petroleum system
Project Peregrine Merlin-1 confirmed petroleum system For personal use only • Results indicated evidence of PETROLEUM SYSTEM ELEMENTS hydrocarbons in all three primary Merlin-2 targets (high resolution Source Hue/HRZ shale gas chromatography) • Biomarker analysis demonstrates Reservoirs Nanushuk F
Slide 9: Merlin-2 appraisal well: Drilling location selected
Merlin-2 appraisal well Drilling location selected For personal use only • Selected from the three locations initially permitted for the appraisal program • Target drilling location situated east and downdip of Merlin-1 • Expected to display; • Thicker reservoir sections and higher permeability/poro
Slide 10: Project Peregrine: Significant upside with the Merlin-2 appraisal well
Project Peregrine Significant upside with the Merlin-2 appraisal well For personal use only • 652 MMBO mean unrisked net MEAN RISKED NET entitlement to 88 Energy MERLIN UNRISKED NET ENTITLEMENT TO 88 ENERGY GEOLOGICAL ENTITLEMENT TO 88 ENERGY RESERVOIR CHANGE OF • 364 MMBO mean risked net INTERVAL P
Slide 11: Merlin-2 objectives
Merlin-2 Appraisal well Merlin-2 objectives For personal use only • Merlin-1 proved the petroleum system and primary targets • Drilling eastward along seismic line targeting higher energy (higher porosity and permeability) facies proximal to the shelf break • Primary objective is to recover fluids f
Slide 12: Merlin-2 appraisal well: Production test planned
Merlin-2 appraisal well Production test planned For personal use only • Production test program for the Merlin- 2 well designed and on standby during initial wellsite operations • Testing is contingent upon the wireline program results, in particular the MDT results. The program and length of the te
Slide 13: Strong Investment Case
For personal use only Strong INVESTMENT CASE
Slide 14: Strong position ahead of Merlin-2
Strong position ahead of Merlin-2 Healthy financial position and strengthened technical skill depth For personal use only • Zero debt 90 WTI CRUDE OIL PRICE • A$36M net cash1 80 • Refreshed Board and appointment 70 of COO with extensive technical 60 and commercial experience 50 • Advanced in permitt
Slide 15: Responsible operations
Responsible operations Delivering on our commitment to social and environmental responsibility For personal use only • Partnership with SALA MEDICAL - proactive OHSE and COVID protocols - to keep our people safe • Drilling programs providing employment to local Alaskans • Strict environmental adhere
Slide 16: Compelling investment case
Compelling 1 PEREGRINE: follow up appraisal well investment For personal use only • Merlin-2 appraisal well planned for Q1 2022 targeting gross case mean prospective resource of 652 million barrels1, 2 2 UMIAT: commercialisation potential • Additional upside at the Umiat oil field identified • Revie
Slide 17: Contact
For personal use only Contact: Brokers: Share Registry: Australia ASX: Computershare Managing Director: Euroz Hartleys Ltd As Corporate Advisor: Investor Services Pty Ltd Ashley Gilbert Mr Dale Bryan + 61 8 9268 2829 ASX: 88E Registered Office: United Kingdom AIM: Computershare Ground Floor, 516 Hay
Slide 18: 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 19: For personal use only
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