Icewine HRZ

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

23/07/2020
Investor Presentation - July 2020
http://clients3.weblink.com.au/clients/_88energy/headline.aspx?headlineid=6987655

23/05/2019
http://clients3.weblink.com.au/clients/_88energy/headline.aspx?headlineid=6931527
Highlights:

Project Icewine Unconventional: advanced FIB-SEM* and HAWK** analysis significantly advances understanding of HRZ shale play

Majority of acreage remains within revised prospectivity fairway

Additional application of FIB-SEM underway to validate fairway revision

Franklin Bluffs (Icewine#2 location) considered to be marginally outside revised fairway

Formal farm-out process deferred to 2H 2019 - soft farm-out underway with continued third party interest

Focused ion beam scanning electron microscope, **hydrocarbon analyser with kinetics - Oil & Gas Education page

Icewine#2V 2017

Icewine#2 Overview –Spud Early Q2 2017
•Single stage, multi-perforation cluster stimulation and production test over 160’ interval (HRZ and basal Hue Shale)
•Estimated 30-45 days to drill, log and conduct micro stimulation
•Main stimulation will then be refined over 1-2 week period before execution
•Flow test results expected mid 2017 (late June - July)
•All major permits secured as planned
•Permit To Drill being finalised & on track
•Well cost estimated at US$17.7m* (net US$14m)
•88E funded from current cash position (US$20m) for Icewine#2
•Franklin Bluffs Pad location –year round access via Dalton Highway

C-XQRMKXcAAfLuj.jpg

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

31/01/18 Investor Presentation http://clients3.weblink.com.au/pdf/88E/01945500.pdf

Icewine#1 2016: Oil samples extracted from HRZ core

(Click image to enlarge)

Flasks%20of%20Light%20Oil%20-%20HRZ%20Icewine1

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Icewine#1 2015

http://dog.dnr.alaska.gov/Permitting/Documents/NorthSlope/OperationPlans/2015/AccumulateEnergyAlaska-IcewineExplorationDrillingProgram.pdf

Kuukpik Drilling LLC selected for Icewine#1 Q42015

http://kuukpikdrilling.org/

Kuukpik%20Rig%205%20.jpg

Icewine#2 Q1-17
http://clients3.weblink.com.au/pdf/88E/01775668.pdf

The primary goal of the Icewine #1 exploration well is to derisk a potentially world class unconventional oil exploration play in the HRZ shale horizon that,
if successful, could yield over a billion barrels of recoverable oil across the
Project Icewine acreage, based on internal modelling. Further details on the drilling and evaluation schedule will be released on
spud.
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Spud commenced 22nd October, 2015 at 17:45 hrs AK time.
Drill Contractor Kuukpik Drilling LLC

http://clients3.weblink.com.au/pdf/88E/01675681.pdf

Spud Finished 24th December, 2015

http://clients3.weblink.com.au/pdf/88E/01700073.pdf

http://clients3.weblink.com.au/pdf/88E/01710487.pdf

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