Conventional Drills - Icewine

please note readers should be aware that not all statements may be factual or correct, please verify and research independently where possible

Stephen Staley:
Is this working? Can you hear me? It is working. Very good. I'm just going to go back a few slides, folks, to that one. I'm going to talk about the conventional. I'm the one who's got a tie on, so that's what you'd expect, I suppose. We're down here. Obviously, we've seen this slide before. Dave mentioned the green blobs here. Now, back in 2013, the US Geological Survey estimated that there was about 2.1 billion barrels to come out of what's called Brookian or the Brookian system, which is the conventional here. It extends into our acreage. Since then in those very few years with these three discoveries. Caelus there in the northwest, Armstrong and Repsol here, and ConocoPhillips earlier this year, they've already almost doubled that estimate. There's an awful lot of potential here. They haven't, by any means, found everything there is to find.

Way down here, the system extends down here. Tarm/Meltwater here. It's an existing field. That's one of our analogs for what we've got out here and across our acreage in terms of potential conventional play. Very exciting on the conventional side as well. I'll take it forward to where we were before. This now is a map of the acreage. The green blobs are, and you've probably seen these, they've been released. These are the conventional leads that we found. We can't call them prospects yet. We have more work to do on them before we can call them prospects. Very exciting.

You saw Alpha. If you came to the last one of these, we show you a little graphic of Alpha. We've moved further west. This is based on the 2D seismic that we acquired early last year, and processed and interpreted and we continued to work on. As you can probably see from this, we've got stacked plays. Here, we've got India/Juliet, et cetera. Over in the west, picked out just Bravo. We've also got Charlie. Charlie and Bravo overlap. Each of those is quite significant. We got well control over in the west here with Malbec, Smilodon, and Wolfbutton wells.

What do we think we've got? In broad terms, we've done an initial pass on this. Net to us, net to 88, probably about 1.14 billion, about one-and-a-half altogether billion barrels. Very significant. It's not quite as big as the unconventional, but by anybody's terms, that's a very large number to have sitting in your acreage. Now, this requires more work. We need to build in to our analysis, the data from the wells that we've got already over in the west there. We'll be working up what's the right way to approach this, where do we want to drill this.

If we have a look at this list here, then from east to west and we group them, you can see the size of what we've got. Alpha, we estimate in total about 118 million barrels. Then, through the centre, so pretty big ones as well. There's Golf and India. As we get to the west, if you look at Bravo and Charlie, the size of those both net to 88 Energy, over 200 million barrels each. There's a potential there to drill both with one well. Also in the west, one can keep going deeper with a single well and also get down to the HRZ. You got a lot of potential for getting a lot value out of a single well. We can start to do more things with the data. We can pull out seismic attributes and start to work on that, especially in the east where we've got access already to some of the 3D data. I think in summary, I'd say very exciting and watch the space. Dave?
London Presentation Feb, 2017

Selection of Drilling Location in Icewine East following Interpretation of available 3D Seismic data set
Application Package

Project Icewine East Prospective Resource Estimate

Project Icewine East: Maiden Independent Prospective Resource Estimate
of 1.03 Billion Barrels

Projects Update: Icewine East & Longhorn

Project Icewine – Independent Third-Party Mapping Complete

Project Icewine - Preliminary Mapping Complete, Resource Update Pending, Farm-In Discussions Advancing

Project Icewine Update

• Testing commenced on sidewall cores, cuttings, mud gas and fluid samples from Merlin-1
o Results expected over next 2 – 10 weeks
• Initial mapping of additional prospective zones encountered in Merlin-1 encouraging
• Results on acreage adjacent to Icewine have positive implications

• Rig commissioning complete - mobilisation commenced for Merlin-1 drilling
• Drilling scheduled to commence 1st week of March 2021
• Nearby Talitha-A well early results encouraging – potential for extension into 88E leases

Operations Update
· Snow road construction commenced for Project Peregrine drilling

· Rig 111 commission underway

· Spud on track for mid to late February 2021

· Drilling on neighbouring acreage January 2021

· Commercialisation options being explored for gas discovered at Project Icewine

PROJECT PEREGRINE UPDATE (include Icewine data)

Rig Contract Executed, Project Icewine Lease Rationalisation

Large Independently Assessed Resource at Project Icewine

Icewine Working Interest Increase Ahead of Resource Estimate

Final Petrophysical Interpretation Substantially Upgrades Charlie-1 Net Pay

Charlie-1 well yields vital data, providing 88E with new opportunities from 1min,39secs

Investor Presentation - July 2020

Operations Update (Charlie-1 results)

Petrophysical Interpretation Confirms Pay in Torok and Seabee

• Preliminary petrophysical interpretation indicates hydrocarbon pay in Torok and Seabee Formations
• Initial lab results related to gas condensate analysis and core testing expected in weeks


• Condensate discovery confirmed in Torok Formation
• Economic review underway to assess commerciality

see embedded video

• Total Depth of 11,112’ reached in the Kuparuk Formation
• Logging While Drilling results largely consistent with Malguk-1
• Wireline logging underway


• Drilling of production hole to commence imminently


• Surface hole complete to ~3,500’ depth
88 Energy confirms that the Charlie-1 appraisal well has reached 3,500’ depth and casing will now be run, as planned, in the 12.25” hole prior to commencing drilling the 8.5” production hole.


Highlights • Charlie-1 appraisal well drilling commenced
Detail 88 Energy confirms that the Charlie-1 appraisal well commenced drilling at 0600 on the 2nd March 2020, Alaska time.

Rig move down Dalton Highway

Investor Presentation 02/2020

• Ice road now >80% complete
• Permit to Drill approved for Charlie-1 appraisal well
• Spud on track for late February

• Ice road construction underway – base layer ~25% complete
• Permit to Drill submitted – approval expected in January 2020
• Operational activity for Charlie-1 progressing to plan for February 2020 spud


New Corporate Presentation

24/10/2019 - as usual do own research.

Charlie-1 Update.

Permit Application Charlie-1

By constructing an ice road, using approved prepacking and snow amendment techniques, the route can meet tundra opening standards (-5C at 30 cm depth, and snow depth requirements) prior to the general tundra opening. This is the main reason why the ice road season is longer than the general winter tundra travel season.

Premier Oil PLC has signed a Sale and Purchase Agreement with 88 Energy and Burgundy Xploration LLC to farm-in for a 60 per cent interest in Area A of their conventional Project Icewine acreage in the proven Alaska North Slope basin. This acreage lies close to the Trans-Alaska Pipeline and the Dalton Highway. The transaction provides Premier with a cost effective entry point into an emerging play, following recent advances in drilling and completion techniques, within a proven oil province and one which has the potential to deliver significant organic growth opportunities for the Group.

Exclusivity agreement executed by 88 Energy and Burgundy Xploration, LLC (together, the “JV Parties”) with preferred bidder to facilitate near term operational activity whilst final terms are agreed on the proposed farmout agreement:
o Exclusivity granted by the JV Parties until 31st August 2019, with customary exclusivity undertakings;
o US$500,000 payment (the “Exclusivity Fee”) by the preferred bidder to the JV Parties to facilitate incurring of initial agreed costs associated with the 2020 drilling program;
o Exclusivity Fee non-refundable unless the farmout agreement is not finalised owing to an act or omission of the JV Parties.

• Farminee internal approvals complete, including Board sign-off
• Farm-out deal now subject to: o execution of closing documents o standard conditions precedent, mainly related to transfer of working interests
• Well planning and permitting required for 2020 drilling now ramping up

condition precedent
n. 1) in a contract, an event which must take place before a party to a contract must perform or do their part. 2) in a deed to real property, an event which has to occur before the title (or other right) to the property will actually be in the name (vest) of the party receiving title. Examples: if the ship makes it to port, the buyer agrees to pay for the freight on the ship and unload it; when daughter Gracella marries she shall then have full title to the property.


Project Icewine – Icewine 3D
The Icewine 3D seismic survey, approximately 450 km2 in area and covering several large leads identified on 2D seismic, was completed on the 28th March – on schedule and within budget. Infield quality control, overseen by head office, has ensured that the data acquired is as clean as possible to enable fast track processing. Processing of shipments of data from the initial areas of the acquisition has commenced and early products, namely post stack migration, will be available in June 2018. This will allow confirmatory mapping of the stratigraphic / structural elements of the leads already identified in the conventional prospectivity portfolio.


3D commenced on Icewine


Bravo Charlie Permit Approval

12/01/18 3D Permit Approval

15/12/2017 ICEWINE 3D Contract award

Iceroad Permit Application Oct, 2017

Unless otherwise stated, the content of this page is licensed under Creative Commons Attribution-ShareAlike 3.0 License