88 Energy Limited · ASX:88E
88 Energy — Investor Presentation (November 2019)
24 slides from 88 Energy's investor presentation, Nov 19, 2019
Slide 1: Diversified Explorer, North Slope of Alaska: November 2019 Update
For personal use only DIVERSIFIED EXPLORER NORTH SLOPE OF ALASKA NOVEMBER 2019 UPDATE www.88energy.com Nordic Rig #3 NORDIC CALISTA SERVICES
Slide 2: North Slope Oil & Gas: Recent Discoveries and Activity
North Slope Oil & Gas Recent Discoveries and Activity For personal use only Willow^5 Alpine^3 Pikka^4 Kuparuk^3 Prudhoe Bay^3 0.75BN 0.5BN 1.4BN 7BN barrels 15BN barrels barrels Greater barrels barrels Mooses Tooth Pt Thomson PROJECT ICEWINE HRZ Shale Play: 0.8^1 - 2.0^2 BBO* Conventional: YUKON Oil
Slide 3: Corporate Snapshot
88 Energy Corporate Snapshot 88 Energy Limited 88E Board Project Working Net For personal use only (ASX, AIM: 88E) Current and Management List Interest Acres Shares on Issue 6,872m David Wall Managing Director Project Icewine: Operator ~225,000 / Conventional / Options on Issue 286m Michael Evans No
Slide 4: Alaska North Slope: Multiple World Class Assets
Alaska North Slope: Multiple World Class Assets For personal use only Alaska Central North Slope: Multiple High-Quality Assets in Portfolio • 88E Operator/Manager on several exploration projects across ~250,000 net acres Project Icewine: Conventional Farm-out Executed – Drilling within 3 months • Pr
Slide 5: Project Icewine: Near Term Appraisal Drilling
Project Icewine: Near Term Appraisal Drilling Multiple Stacked Targets to be Drilled 1Q2020 For personal use only WESTERN PLAY FAIRWAY (AREA A) CENTRAL FAIRWAY EASTERN FAIRWAY Smilodon-9-4-9 (AREA B) (AREA C) Charlie-1 Malguk-1 • 486,000 contiguous acres with access to transportation corridor / Tran
Slide 6: Conventional Prospective Resource
Conventional Prospective Resource Multiple Large Appraisal / Exploration Targets For personal use only PROJECT ICEWINE CONVENTIONAL PORTFOLIO • Multiple stacked drillable Prospective Oil Resource MMBO (Unrisked) prospects identified on Icewine August 2019: Post Farm-Out Prospects & Leads Gross Net M
Slide 7: Project Icewine: Brookian Play Analysis
Project Icewine Brookian Play Analysis Brookian sandstones (Nanushuk / Torok) For personal use only MACRO<------- POROSITY -------> MICRO characterised by significant level of clay WATER (MOBILE) coating of framework grains WATER (BOUND) OIL (ALL MOBILE) • Prevents quartz overgrowth(cementation) and
Slide 8: Project Icewine: Charlie-1 Test of Brookian at Icewine
Project Icewine Charlie-1 Test of Brookian at Icewine For personal use only Horseshoe-1 Charlie-1 • Nanushuk / Torok part of same depositional system ‐ Same sediment source and environmental conditions ‐ Nanushuk is shelf edge (shallower) vs Torok channels / fans (deeper) • Nanushuk does not work on
Slide 9: Charlie-1: Primary Target - Horizons, Torok Formation
Charlie-1: Primary Target – 3 Horizons Torok Formation Torok Fan/Channel Play – Proven Oil to be Appraised by Charlie-1 in 1Q2020 For personal use only • Malguk-1 and Heavenly-1 confirmed oil in Upper Stellar, Middle Stellar and Heavenly prospects – considered discoveries for appraisal • Lower Stell
Slide 10: Stacked Torok Targets (Stellar)
Stacked Torok Targets (Stellar) Modern 3D Seismic and Petrophysics Petrophysical analysis indicates thick oil bearing section with multiple sand packages in the Torok For personal use only – Upper, Middle and Lower Stellar SE Upper Stellar Sandstones - Discovery OIL Middle Stellar Sandstones - Disco
Slide 11: Charlie-1: Secondary Target - Schrader Bluff Formation
Charlie-1: Secondary Target – 2 Horizons Schrader Bluffs Formation Significant new potential supported by 3D seismic inversion data For personal use only • Multiple prospects identified in Schrader Bluff Topsets Charlie ‐ Analogous play type, on younger clinoform, to recently successful Nanushuk dis
Slide 12: Western Play Fairway Mid Schrader Bluff: Indigo Oil Discovery
Western Play Fairway Mid Schrader Bluff Indigo Oil Discovery – Topset Indigo Discovery For personal use only Smilodon 9-4-9 Malguk 1 NW SE Ratty Mid Schrader Bluff sandstones with good shows and up to 50% oil saturation Updip pinch- out of reservoir 49ft Mid Schrader Bluff sandstones with Better dev
Slide 13: Charlie Prospect - Untested Topset
Western Play Fairway Mid - Schrader Bluff Charlie Prospect - Untested Topset Charlie-1 Gross mean prospective resource For personal use only • 210 MMBO (63 MMBO net to 88E) • Charlie prospect not intersected by historic wells • 3D seismic inversion predicts good quality, oil filled sands • Stratigra
Slide 14: Charlie-1: Tertiary Target - Seabee Formation
Charlie-1: Tertiary Target – 2 Horizons Seabee Formation Good Oil Saturation Interpreted in Seabee Formation on Icewine Acreage Successful For personal use only Tarn Oil Field located on Trend to the North within the Seabee Fm • 220’ sand interval encountered in Malguk-1 (Lower Lima) with up to 60%
Slide 15: Charlie-1 Summary: Seven Stacked Targets
Charlie-1 Summary: Seven Stacked targets Charlie-1 Charlie-1 • 7 stacked targets – oil proven in 4 For personal use only • 3 play types • 1.6 BBO gross mean prospective resource • 480 MMBO net to 88E • February 2020 spud Indigo Charlie Schrader Bluff Fm. Upper Lima Seabee Fm. Lower Lima Upper Stella
Slide 16: Yukon Leases Highlights
Yukon Leases Highlights Existing historic oil discovery on acreage - Yukon For personal use only • YUKON YUKON LEASES Gold-1 (1993/ 94) LEASES 14,194 acres 14,194 acres • Oil saturations interpreted across two intervals in 88E WI: 100% 88E: 100% PROJECT ICEWINE multiple sands within the Tertiary Can
Slide 17: Yukon Leases 3D Mapping
Yukon Leases 3D Mapping Cascade Prospect Canning Fan Play Final results from modern 3D processing (2018) For personal use only • Cascade: channelised fan feature mapped updip of Yukon Gold-1, historic oil discovery Distributary • Yukon Gold-1 located in interpreted distal fan channels and splay faci
Slide 18: Western Blocks: Winx Results and Forward Plan
Western Blocks Winx Results and Forward Plan Winx-1 Drilling Results Area of focus for post Winx-1 evaluation For personal use only • Topset sequences intersected as expected in primary target Nanushuk Formation • Moderate quality oil and gas shows observed throughout the Nanushuk Formation • In add
Slide 19: Icewine HRZ Shale Play: Encouraging Results to Date
Icewine HRZ Shale Play: Encouraging Results to Date Project Icewine captured the HRZ sweet spot in over-pressured, low-viscosity super-critical phase oil For personal use only • Data supports move to horizontal appraisal drilling and further fairway delineation • Insights into kerogen transformation
Slide 20: North Slope Projects Summary
North Slope Projects Summary Project Icewine: Conventional For personal use only • Multiple stacked prospects identified on 2018 3D seismic: 1,009 MMBO net to 88E (total Project Icewine) • Farm-out executed: Charlie-1 appraisal well to be drilled in 1Q2020 testing 7 stacked objectives totalling 1.6
Slide 21: Board and Key Management
Board and Key Management For personal use only Mr David Wall – Managing Director Erik Opstad – General Manager Alaska Operations 4 years experience in strategy and planning at Woodside 37 years of energy project management and technical Petroleum. 6 years experience in financial services industry as
Slide 22: 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 23: 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 24: Contacts
Contacts For personal use only Managing Director: David Wall Brokers: Share Registry: dwall@88energy.com Australia ASX: Computershare Registered Office: Hartleys Ltd As Corporate Advisor: Investor Services Pty Ltd Level 2, 5 Ord St, Mr Dale Bryan + 61 8 9268 2829 ASX: 88E West Perth WA 6005 United K