88 Energy Limited · ASX:88E
88 Energy — Investor Presentation (October 2017)
18 slides from 88 Energy's investor presentation, Oct 2, 2017
Slide 1: Project Icewine, North Slope of Alaska: Icewine#2 Operations Update
PROJECT ICEWINE NORTH SLOPE OF ALASKA For personal use only PROJECT PROJECTICEWINE ICEWINE OCTOBER FEBRUARY2017 2017 OPERATIONS 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: North Slope Oil & Gas Activity 2017
North Slope Oil & Gas Activity 2017 Recent Discoveries Caelus Energy: Smith Bay 2016 For personal use only Discovery 2.4 BN barrels EUR (est.) Armstrong/ Repsol Pikka Unit 2015#4 Discovery 1.4BN barrels (2C) Prudhoe Bay #3 ConocoPhillips: Willow 2017 15 BN barrels Discovery > 300M barrels rec Tarn /
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 4,649m David Wall Managing Director Paul M. Basinski, Founder & CEO Options on Issue 769m Michael Evans Non-Exec Chairman Michael R. McFa
Slide 6: Icewine Highlights
Project Icewine HIGHLIGHTS Large, Strategic Acreage Position – Vast Majority of HRZ Play now Captured For personal use only • Joint Venture controls rights to 600,000 gross acres (~370,000 net to 88E*, Operator) • Strategically located on infrastructure – all year access road / pipeline Primary Targ
Slide 7: HRZ Shale Play Overview: Brief History and Evolution
HRZ Shale Play Overview: Brief History and Evolution • Pre-2014: opportunity identified by JV Partner, Burgundy Xploration LLC For personal use only • Utilising proven unconventional resource exploration toolbox to de-risk and identify crucial elements for success • 2015 -> mid 2016: increase lease
Slide 8: HRZ Overview: Learnings and Forward Plan
HRZ Overview: Learnings and Forward Plan Learnings For personal use only • Formation can be effectively fracture stimulated • Mass spectrometer analysis of flowback gas indicates likely reservoir products are high API oil / condensate • Revision to petrophysical analysis integrating new data from lo
Slide 9: HRZ Unconventional: Phase II
HRZ Unconventional: Phase II Icewine#2 Vertical Well, Stimulate & Flow Test For personal use only • Completed on time and remains under budget to date • Two stage, multi-perforation cluster stimulation over 128’ interval • Slickwater treatment comprising 27,837 barrels of fluid and 1 million pounds
Slide 10: Icewine Conventional Prospectivity Portfolio
Project Icewine Conventional Prospectivity Portfolio For personal use only N Icewine #2 well location ALPHA Malguk#1 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
Slide 11: Icewine: Western Play Fairway, Bravo Lead
Project Icewine: Western Play Fairway, Bravo Lead MALGUK-1 For personal use only Lowstand: Sands delivered downslope BRAVO • Bravo lead mapped on basin floor to the east of Malguk#1 • Seabee Fm: typically very fine to fine grained sandstones – medium grained in part and producible • Turbiditic seism
Slide 12: Icewine: Malguk#1 Key Well
Project Icewine: Malguk#1 Key Well Excellent Oil Shows For personal use only • Malguk#1 (1990/91) pivotal Malguk#1 Mudlog Excerpts: well for Western Play Fairway Hydrocarbon Shows with significant hydrocarbons Ca FS 4940’–4970’MD: Sandstone. Bright yellow gold fluor in 50% of sample, fair – slow • N
Slide 13: Icewine: New 2D Seismic Reprocessing Highlights Deeper Potential
Project Icewine: New 2D Seismic Reprocessing Highlights Deeper Potential Malguk#1 For personal use only W E MALGUK#1 Bravo Lead: deposited on basin floor Seabee fan sand potential Torok fan sand potential Torok fan sand play • Additional play potential seen in the deeper Torok Fm • Cycles of basin f
Slide 14: Icewine: Meltwater & Tarn Oil Field Analogues
Project Icewine: Meltwater & Tarn Oil Field Analogues For personal use only Meltwater North 2A Decker 2012, Source Phillips Alaska Inc 14
Slide 15: Icewine Conventional Portfolio
Project Icewine Conventional Portfolio Prospective Oil Resources - Unrisked Recoverable • Bravo & Alpha Leads prominent For personal use only PROJECT ICEWINE CONVENTIONAL LEAD SUMMARY Prospective Oil Resources - Unrisked Recoverable - MMBO given mapped seismic geometries and relief Net Mean to 88E L
Slide 16: Icewine Summary
Project Icewine Summary For personal use only Unconventional - HRZ • Flow-back clean up phase ongoing with only ~20% of frac fluid recovered vs target of >30% - recommence April/May 2018 with artificial lift • Results to date encouraging and consistent with early stage results from other successful
Slide 17: 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 34 years of energy management and technical experience including Petroleum. 6 years experience in financial services wit
Slide 18: 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 2, 5 Ord St, West Perth WA 6005 United Kingdom Cenkos Securities Plc As Nominated Adviser and Broker: Postal A