88 Energy Limited · ASX:88E
88 Energy — Non-Deal Roadshow (June 2015)
23 slides from 88 Energy's roadshow presentation, Jun 29, 2015
Slide 1: Roadshow Presentation June 2015
For personal use only JUNE 2015 ROADSHOW PRESENTATION ABN 80 072 964 179
Slide 2: Project Icewine, Onshore Alaska
Project Icewine, Onshore Alaska Prime Acreage in Premier Oil Province For personal use only Alaskan Explorers: Alpine Pool (Colville River) > 500 MMBBL REC RESOURCES REPSOL Tarn ALKAID 1 PHECDA 1 WOLFBUTTON 25-6-9 X TALITHA 2 * ICEWINE #1 98,182 Spud 4Q 2015 • 88 Energy has secured 98,182 acres on C
Slide 3: Company Snapshot
Company Snapshot For personal use only 88 Energy is an E&P company focused solely on a world Key ASX:88E AIM:88E class asset on the Central North Slope of Alaska with dual statistics conventional and unconventional liquids-rich objectives Stock Price $0.017 £0.085 (18 June 15) 87.5% WI* and Operat
Slide 4: Asset Highlights
Asset Highlights For personal use only PREMIER ACREAGE POSITION IN STRATEGIC LOCATION Strategic location • Prolific region: 35 miles south of largest conventional oilfield in North America (Prudhoe Bay 15B barrels) • Operational year-round access: acreage position on Dalton Highway • Access to expor
Slide 5: High Impact Conventional Discoveries: 2015
Project Icewine, Onshore Alaska High Impact Conventional Discoveries: 2015 For personal use only • 2015 Repsol discoveries highlight significant conventional potential yet to be discovered on the North Slope • Analogous Brookian conventional play identified on Icewine leases on vintage 2D – 3D requi
Slide 6: Corporate Timeline / Upcoming Catalysts
Corporate Timeline / Upcoming Catalysts For personal use only Recent Milestones Indicative 12-Month Timeline* Completed Completed Contract Commence 3D placement of placement of drilling rig seismic shoot $1.2MM $6.9MM Spud Icewine #2 Finalize funding horizontal well for drilling June 24, 2015 2014 2
Slide 7: Unconventional Liquids Rich Play – HRZ
Unconventional Liquids Rich Play – HRZ For personal use only • Three prolific & proven shales/ source rocks Clinoform Hue/ HRZ in Icewine acreage Source Rocks • Unconventional • Hue Shale: • Hue / HRZ – primary target • includes HRZ primary target Clinoform • Kingak Shales Hue/ HRZ Hue/HRZ • Kingak
Slide 8: HRZ Liquids Rich Play in a Nutshell
HRZ Liquids Rich Play in a Nutshell For personal use only • HRZ is a liquids rich play originated using highly successful methodology utilized in Eagle Ford • Integration of comprehensive datasets including: petroleum system, thermal maturity, geologic history, geochemistry, kinetics and geophysics
Slide 9: HRZ - Unique Geologic History
HRZ - Unique Geologic History For personal use only • New unconventional play type: high-resource HRZ, Project Icewine, AK concentration backarc marine ‘shale’ Backarc; abundant volcanic ash & glass HRZ highest quality oil source on Slope • Rock composition and characteristics: X-Ray Diffraction and
Slide 10: Project Icewine: Independent Assessment
Project Icewine: Independent Assessment Unconventional Resource Potential For personal use only PROSPECT ICEWINE ESTIMATED PROSPECTIVE OIL RESOURCE * NORTH SLOPE, (HRZ, HUE, KINGAK, & SHUBLIK SHALES) RISKED ALASKA UNRISKED (41% Probability) CASE LOW AVERAGE HIGH MEAN RISKED MEAN GROSS (MMBO) 244.3 4
Slide 11: Icewine #1 High Impact Well
Icewine #1 High Impact Well For personal use only • Icewine #1 scheduled to spud 4Q 2015 • De-risk and mature HRZ liquids rich shale play • Well planning at advanced stage • Experienced Drilling Manager contracted in Anchorage, Alaska Franklin Bluffs #1 • Drill location finalised on existing Frankli
Slide 12: Icewine #1 Cross Section
Icewine #1 Cross Section HRZ liquids rich shale test For personal use only NORA Nora FEDERAL Federal - 1- 1 ICEWINE- ICEWINE-1 1 TALITHA Talitha ––22 ALKAID – 1 2015 Alkaid –1 Brookian gas Brookian gas shows shows Spud 4Q 2015 projected 2015 projected projected results results pending pending S N Nr
Slide 13: Indicative Exploration Program
Indicative Exploration Program For personal use only Program designed to fast-track evaluation of Icewine prospectivity Indicative Exploration Budget: 2H 2015 – 2016 Phase I: Underway Exploration well Icewine #1 : Project Budget Post Rebate * USD MM USD MM • Q4 2015 spud - vertical hole 15-20 2.25 -
Slide 14: Multiple Conventional Play Types
Multiple Conventional Play Types #1 Ranked Region in North America • Central North Slope ranked #1 in the USA For personal use only Brookian Topset Play *Illustrative e.g. Nanushuk sands with 4B barrels remaining potential Nanushuk Oil Pool (Repsol 2015) 100 km2 22% porosity W 650’ Oil column; 150’
Slide 15: Brookian Stratigraphic Play Example
Brookian Stratigraphic Play Example For personal use only NW SE Submarine channel sands Depositional Model DEPOSITIONAL MODEL Brookian Reservoirs Brookian Reservoirs Submarine fan sands Topsets: Fluvial, Topsets: Fluvial, Deltaic & Deltaic & Shelf sands Shelf sands Nanushuk Slope Slope Gully && Gull
Slide 16: Unconventional Success Case
Unconventional Success Case Illustrative Well Economics* *Illustrative Economics assume success, for which there is no guarantee For personal use only Assumptions Well Economics Area Gross Spacing Well EUR per Opex Metric (@US$65 oil) Value Wells (Acres) Cost well per bbl (US$m) (mmbbl) (US$) NPV10
Slide 17: Conventional Success Case
Conventional Success Case Illustrative Well Economics* *Illustrative Economics assume success, for which there is no guarantee For personal use only Assumptions Well Economics Area Gross Spacing Well EUR per Opex Metric (@US$65 oil) Value Wells (Acres) Cost well per bbl (US$m) (mmbbl) (US$) NPV10 (s
Slide 18: North Slope Conventional Success
North Slope Conventional Success Case Study: Armstrong/ Repsol For personal use only • Armstrong’s farmout deal to Repsol yielded 94 fold return on implied value of acreage • Repsol investment of US$768m vindicated by 2015 program confirming two large commercial discoveries • Preliminary development
Slide 19: Investment Highlights
Project Icewine, Onshore Alaska Investment Highlights For personal use only Located in the premier petroleum province of North America which hosts the largest oil field complex in the United States ~100,000 contiguous acre block onshore North Slope Underexplored HRZ liquids rich shale play fairw
Slide 20: Near-Term Catalysts
Near-Term Catalysts For personal use only DRIVING VALUE CREATION – 2H 2015 PROJECTED MILESTONES Execute lease contract for drilling rig Consummate financing for fast-tracked exploration and ongoing operations Secure ACES-backed debt facility on 75-85% cash rebates on exploration expenditure
Slide 21: 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 22: 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 23: 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.