88 Energy Limited · ASX:88E

88 Energy — Investor Presentation (April 2024)

25 slides from 88 Energy's investor presentation, Apr 17, 2024

  1. Slide 1: 88 Energy Investor Update April 2024

    For personal use only 88 ENERGY INVESTOR UPDATE April 2024

  2. Slide 2: 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

  3. Slide 3: Resources and Reserves Estimates and Disclosures

    Resources and reserves estimates AND Disclosures PROJECT PHOENIX – prospective resource PROJECT ICEWINE WEST 2. Net Entitlement to 88E. Refer to the ASX release dated 10 November 2020 for full details with respect to the Prospective 1. Pre-drilling net entitlement to 88E. Refer to the ASX release da

  4. Slide 4: Successful Hickory-1 flow test confirms significant new resource

    SUCCESSFUL HICKORY-1 FLOW TEST confirms significant For personal use only new resource I. FLOW TESTs OF UPPER SFS AND SMD-B reservoirs completed via small 20ft perforated sections in vertical well  USFS test produced a peak flow rate over 70 bopd1  SMD-B test produced a peak flow rate ~50 bopd2 II

  5. Slide 5: Multiple Commercialisation Pathways

    MULTIPLE COMMERCIALISATION PATHWAYS Successful Hickory-1 flow test delivers platform for monetisation of Project Phoenix CONFIRMED DISCOVERIES POST FLOW TEST ACTIVITIES COMMERCIALISATION INDEPENDENT CONTINGENT For personal use only SMD-B RESERVOIR A RESOURCE DECLARATION SMD-B delivered peak flow rat

  6. Slide 6: Multiple Exploration and Appraisal Projects

    multiple EXPLORATION AND appraisal projects 88E continues to deliver a pipeline of high-impact opportunities in highly prospective regions For personal use only A Alaska, north slope N Namibia, pel93 Exploration (Operator): Peregrine, Leonis, Icewine West Appraisal (Operator): Phoenix (Hickory-1 dis

  7. Slide 7: Attractive and Balanced Portfolio Mix

    ATTRACTIVE AND BALANCED PORTFOLIO MIX Pre-development, appraisal and exploration assets supported by stable cash flows For personal use only New venture / frontier Advanced APPRAISAL / growing exploration PRE-DEVELOPMENT Production  NAMIBIA PEL 93 provides large scale, frontier exploration  Projec

  8. Slide 8: Corporate Snapshot

    Corporate SNAPSHOT ASX:88E | AIM:88E | OTC:EEENF CAPITAL STRUCTURE PLANNED ACTIVITY Share price1 A$0.006  Project Phoenix: Progress post-well testing and analysis, independent Contingent Resource declaration for For personal use only Shares on issue2 25,124M the SFS and SMD reservoirs and commence

  9. Slide 9: Project Phoenix, Alaska

    For personal use only Project phoenix , Alaska HICKORY-1 discovery Successful Flow testing of multiple reservoirs

  10. Slide 10: Project Phoenix: Hickory-1 discovery well

    Project phoenix For personal use only HICKORY-1 discovery well “The Hickory-1 discovery and production tests represent a significant milestone for 88 Energy and its shareholders. The success moves us significantly closer to achieving our ambitions of developing and producing from our high-impact Ala

  11. Slide 11: Upper SFS Flow Test Successful

    Upper SFS FLOW TEST successful Quality and deliverability of the USFS reservoir confirmed  Successful light oil discovery at Hickory-1.  Upper SFS (USFS) flow rates achieved from low For personal use only volume frac over small 20ft vertical interval.  Rates in line with expectations and those ob

  12. Slide 12: SMD-B Flow Test

    SMD-B FLOW TEST Second light oil discovery result (Left): Light oil fluid sample from Hickory-1 SMD-B flow test temperature  Dual reservoir success at Hickory-1 with second corrected API of 39 light oil discovery at the SMD-B reservoir1. OIL degrees, (right): oil For personal use only cut in gradua

  13. Slide 13: Next Steps at Project Phoenix

    Next Steps At Project Phoenix 1H 24 2H 24 1H 25 2H 25 1H 26 2H26 Hickory-1 Successful Hickory-1 flow test Post-well testing and analysis    Targeting farmout   For personal use only The successful Hickory-1 flow test creates multiple paths for 88 Energy and its Joint Venture partner to commerci

  14. Slide 14: Project Leonis, Alaska

    For personal use only Project LEONIS, Alaska Proven producing play DRILL READY USB APPRAISAL TARGET

  15. Slide 15: Project Leonis Overview

    PROJECT LEONIS OVERVIEW Well-defined sedimentary basin with proven oil charge, reservoirs and seals HIGH VALUE INFRASTRUCTURE ACCESS PROVIDES POTENTIAL FOR HIGHLY ATTRACTIVE ECONOMICS AT LOW For personal use only POTENTIAL OIL PRICES THE UPPER SCHRADER BLUFF (USB) IS A PROVEN Proven PRODUCER – WITH

  16. Slide 16: North Slope Upper Schrader Bluff

    north slope UPPER SCHRADER BLUFF Multiple producing fields proximal to Leonis drill target analogues LEONIS Unit POLARIS ORION WEST SAK (estimates) Reservoir Upper Schrader Bluff Formation For personal use only UNDER EUR (2P/2C) MMbbls 51 53 - 209 280 - 540 ASSESSMENT Depth ft TVDss 5,000 4,400 4,00

  17. Slide 17: Onshore Namibian Oil and Gas Exposure

    For personal use only ONSHORE NAMIBIAN OIL AND GAS EXPOSURE UNDEREXPLORATED FRONTIER EXPLORATION

  18. Slide 18: Onshore Namibian Oil and Gas Exposure

    ONSHORE Namibian One of THE WORLD’S HIGHLY AFRICA oil and gas EXPOSURE PROSPECTIVE NEW EXPLORATION For personal use only REGIONs ANGOLA EARNING-IN TO Highly compelling acreage 88 Energy holds a 20% Working Damara Fold Belt Interest in PEL Prospect L, expected  Massive acreage position 93 covering N

  19. Slide 19: Significant new structural play identified

    Significant new structural play identified Well-defined sedimentary basin with proven oil charge, reservoirs and seals  A series of large, anticlinal structures have For personal use only been identified in the onshore Owambo Basin, collectively expected to represent a multi- billion-barrel explora

  20. Slide 20: Namibian Forward Work Program

    NAMIBIAN FORWARD work-program Clear exploration plan leading to targeted near-term drilling  88E’s farm-in enables fast-track near-term drilling, with the first exploration well planned for as early as 2H 2025  Initial program focused on the southern opportunity of the large acreage position, with

  21. Slide 21: Project Longhorn, Texas

    For personal use only PROJECT LONGHORN, texas STABLE PRODUCTION POSITIVE CASHFLOWS support EXPLORATION AND APPRAISAL ACTIVITIES

  22. Slide 22: Provides growing production potential

    provides growing production potential Stable cashflows support high impact exploration and appraisal  Majority (~64%) net working interest in onshore production assets, Texan Permian Basin For personal use only  Upon successful completion of the 2024 WP&B – Longhorn gross production expected to re

  23. Slide 23: Multiple Value Catalysts Across the Entire Portfolio

    multiple value catalysts across the entire portfolio For personal use only TAPS project phoenix and project LEONIS farm- Success of the hickory-1 Completion of 2D seismic, out campaigns targeting new partners flow tests PROVIDES multiple paths TO maiden prospective resource and for future phase acti

  24. Slide 24: Contacts

    CONTACTS COMPANY: Managing Director: Share Registry: ASX: Computershare Investor Services Pty Ltd Ashley Gilbert ASX: 88E Registered Office: AIM: Computershare Ground Floor, 516 Hay St, Investor Services Pty Ltd For personal use only Subiaco WA 6008 AIM: 88E Postal Address: PO Box 352, Subiaco WA 69

  25. Slide 25: For personal use only

    For personal use only

88 Energy — Investor Presentation (April 2024) on 6ix