88 Energy Limited · ASX:88E
88 Energy — Shareholder Meeting (May 2021)
15 slides from 88 Energy's shareholder meeting presentation, May 21, 2021
Slide 1: Annual General Meeting May 2021 Update
For personal use only ANNUAL GENERAL MEETING MAY 2021 UPDATE www.88energy.com All American Oilfield Rig 111 MERLIN-1 DRILLING OPERATIONS
Slide 2: Corporate Snapshot
Corporate Snapshot 88 Energy Ltd Board and Alaskan Working Net For personal use only (ASX, AIM: 88E) Current Management Project List Interest Acres Shares on Issue 12.57 Bn Managing Director Ashley Gilbert Operator Project Icewine ~193,000 ~75% Options & Performance 204 M Non-Exec Chairman Michael E
Slide 3: North Slope Oil & Gas Major Discoveries and Acreage Map
North Slope Oil & Gas Major Discoveries and Acreage Map For personal use only Alpine^3 Pikka^4 0.5BN 1.4BN Kuparuk^3 Prudhoe Bay^3 Willow^5 barrels barrels 7BN barrels 15BN barrels 0.75BN Greater barrels Mooses Tooth Pt Thomson Oil Search ASX PROJECT ICEWINE November 2017 US$850m transaction Convent
Slide 4: Portfolio of Multiple World Class Assets
Portfolio of Multiple World Class Assets 88 Energy has a combined portfolio with 3.4 billion BOE* prospective resource and 2P reserves of 94 million barrels of oil** For personal use only Project Peregrine Exploration • Acquired Q2 2020 • Farmed-out Q4 2020 Project Yukon • Q1 2021 Merlin-1 well dril
Slide 5: Project Peregrine
Project Peregrine Operator & 50% W.I. • Project Peregrine acreage was For personal use only acquired by 88 Energy via an off market takeover of XCD Energy Ltd in August 2020 • Project area encompasses 195,373 acres of which a number of untested topset play opportunities exist • Multiple, independent
Slide 6: Project Peregrine: Merlin-1
Project Peregrine: Merlin-1 • Drilled on seismic amplitudes in the For personal use only NPRA, Merlin-1 reached TD (5267ft) on March 28th, 2021 • The well returned numerous shows over multiple intervals within the Nanushuk Fm, with fluorescence, streaming cuts and petroliferous odours observed • Ope
Slide 7: Umiat Oil Field
Umiat Oil Field Operator & 100% W.I. • Umiat is an historic oil discovery, made in For personal use only 1945 in shallow Brookian (Nanushuk) sandstones, located immediately adjacent to southern boundary of Project Peregrine • The Umiat-23H well was flow tested at a sustained rate of 200 barrels per
Slide 8: Project Icewine
Project Icewine Operator & ~75% W.I. • Large independent resource post Charlie-1 For personal use only well => 1.77 billion BOE* • De-risked by 3 wells: Icewine-1, Icewine-2 and Charlie-1 • The results at the near-by Talitha-A well are highly encouraging regionally for several 2000m formations that
Slide 9: Yukon Leases
Yukon Leases Operator & 100% W.I. • Existing historic oil discovery on acreage - Yukon Gold-1 (1993/ 94) For personal use only • Oil saturations interpreted across two intervals in multiple sands within the Tertiary Canning Fm • Mapped on modern 3D seismic (88E, 2018) • Yukon leases located in close
Slide 10: Outlook: 2021 and Beyond
Outlook: 2021 and Beyond 88 Energy will continue to have an active exploration and appraisal program across all Projects throughout 2021 and into 2022/23 For personal use only • Testing results on sidewall cores, cuttings, mud gas and fluid samples from Merlin-1 due June / July • Planning for a seco
Slide 11: North Slope Projects Summary
North Slope Projects Summary Project Peregrine – Merlin-1 confirmed the potential of the acreage For personal use only • The oil shows and other encouragement seen in the Merlin-1 well bodes well for the potential at Project Peregrine and with the results from the laboratory analysis due over the co
Slide 12: Board and Key Management
Board and Key Management For personal use only Mr Ashley Gilbert – Managing Director Erik Opstad – General Manager Alaska Operations Previously CFO and Company Secretary of 88E, with over 20 37 years of energy project management and technical years experience in commerce and public practice. Prior r
Slide 13: 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 For personal use only delivered for information purposes only to a limited number of persons. By attending the meeting where
Slide 14: Disclaimer (cont.)
Disclaimer (cont.) For personal use only These statements are subject to certain risks and uncertainties and may be based on assumptions that could cause actual results to differ materially from those anticipated or implied in the forward-looking statements. New factors emerge from time to time and
Slide 15: Contacts
Contacts For personal use only Managing Director: Brokers: Share Registry: Ashley Gilbert Australia ASX: Computershare Euroz Hartleys Ltd As Corporate Advisor: Investor Services Pty Ltd Mr Dale Bryan + 61 8 9268 2829 ASX: 88E Registered Office: Ground Floor, 516 Hay St, United Kingdom AIM: Computers