Peregrine + Umiat NPRA

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

See NPRA page also

30/03/2022
Wireline Logging Results and Forward Program at Merlin-2

https://clients3.weblink.com.au/pdf/88E/02504158.pdf

25/03/2022
Wireline Truck
https://youtu.be/sqjVrtNGa6g

23/03/2022
Merlin-2 Well Reaches Total Depth
https://clients3.weblink.com.au/pdf/88E/02501901.pdf

17/03/2022
Merlin-2 Drilling Ahead
https://clients3.weblink.com.au/pdf/88E/02500212.pdf

88E16MARCHstencil.default.jpg

08/03/2022
Merlin-2 Well Spudded
https://clients3.weblink.com.au/pdf/88E/02496994.pdf
https://www.londonstockexchange.com/news-article/88E/merlin-2-well-spudded/15359047?showDisclaimer=true

01/03/2022
Merlin-2 Pre-Spud Operations On Track
https://clients3.weblink.com.au/pdf/88E/02493906.pdf

10/02/2022
Merlin-2 Permit to Drill approved
https://clients3.weblink.com.au/pdf/88E/02485246.pdf

16/01/2022
Merlin-2 Operations Update
Highlights
• Merlin-2 Permit to Drill in the final stages of review by the Bureau of Land Management (BLM)
• Snow road construction commenced ahead of Merlin-2 drilling
• Commissioning of the Arctic Fox rig commenced
• Spud of Merlin-2 remains on track for February 2022
https://clients3.weblink.com.au/pdf/88E/02476003.pdf

06/12/2021
MERLIN-2 OPERATIONS UPDATE
https://clients3.weblink.com.au/pdf/88E/02462532.pdf

29/11/2021
Merlin-2 Investor update
https://clients3.weblink.com.au/clients/_88energy/v3/headline.aspx?headlineid=61065860

24/11/2021
Merlin-2 Appraisal Well Location Selected
https://clients3.weblink.com.au/clients/_88energy/headline.aspx?headlineid=61064490

26/10/2021
MERLIN-2 APPRAISAL WELL – RIG CONTRACT EXECUTED
https://clients3.weblink.com.au/clients/_88energy/headline.aspx?headlineid=61058202
https://www.doyondrilling.com/our-rigs/arctic-fox/

04/08/2021
Umiat Update
https://clients3.weblink.com.au/clients/_88energy/headline.aspx?headlineid=61044444

15/07/2021
100% Working Interest in Project Peregrine
https://clients3.weblink.com.au/pdf/88E/02395682.pdf

14/07/2021
Merlin-1 Testing Program Update
https://clients3.weblink.com.au/clients/_88energy/headline.aspx?headlineid=61040720

24/06/2021
Merlin-1 Testing Program Update
http://clients3.weblink.com.au/clients/_88energy/headline.aspx?headlineid=61038024

SARA Analysis
A method for characterization of heavy oils based on fractionation, whereby a heavy oil sample is separated into smaller quantities or fractions, with each fraction having a different composition. Fractionation is based on the solubility of hydrocarbon components in various solvents used in this test. Each fraction consists of a solubility class containing a range of different molecular-weight species. In this method, the crude oil is fractionated to four solubility classes, referred to collectively as SARA: saturates, aromatics, resins, and asphaltenes. Saturates are generally iso- and cyclo-paraffins, while aromatics, resins, and asphaltenes form a continuum of molecules with increasing molecular weight, aromaticity, and heteroatom contents. Asphaltenes may also contain metals such as nickel and vanadium. This method is sometimes referred to as Asphaltene/Wax/Hydrate Deposition analysis
.
Volatile Analysis Service
Reservoir fluid analysis is critical for understanding oil migration occurrences and variable reservoir characteristics when designing a field development plan.

https://www.bakerhughes.com/evaluation/surface-logging-services/cuttings-gas-evaluation/volatiles-analysis-service-vas …… example only

07/06/2021
Acquisition of Interest in Project Peregrine
https://clients3.weblink.com.au/pdf/88E/02382181.pdf

25/05/2021
Operations Update
Highlights
• Encouraging evidence of oil in down hole samples being investigated in laboratory
• Additional fluorescence recorded at previously unidentified depths
• Final payment of vendors in stock to be made

https://clients3.weblink.com.au/pdf/88E/02377707.pdf

27/04/2021Highlights
• 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
https://clients3.weblink.com.au/clients/_88energy/headline.aspx?headlineid=61029816

12/04/2021
Highlights
• Sidewall cores in Merlin-1 confirm presence of oil previously observed in cuttings
https://clients3.weblink.com.au/clients/_88energy/headline.aspx?headlineid=61027932

06/04/2021
Highlights
• Initial petrophysical interpretation indicates several potential pay zones in Merlin-1
• New prospective horizon identified at Project Peregrine
• Operational issues prevent hydrocarbon samples from two most prospective zone

https://clients3.weblink.com.au/clients/_88energy/headline.aspx?headlineid=61027309

31/03/2021
Operations Update
Highlights
• Interpretation of logging while drilling data (“LWD”) indicates multiple potentially hydrocarbon
bearing zones have been encountered in the Nanushuk Formation whilst drilling Merlin-1
• Wireline logging will commence shortly to confirm whether mobile hydrocarbons are present
https://clients3.weblink.com.au/clients/_88energy/headline.aspx?headlineid=61026929

29/03/2021
Highlights
• Interpretation of logging while drilling data (“LWD”) indicates multiple potentially hydrocarbon
bearing zones have been encountered in the Nanushuk Formation whilst drilling Merlin-1
• Wireline logging will commence shortly to confirm whether mobile hydrocarbons are present
https://clients3.weblink.com.au/clients/_88energy/headline.aspx?headlineid=61026354

22/03/2021
Highlights
• Merlin-1 production hole drilling to commence imminently
• At market share subscription agreement executed
http://clients3.weblink.com.au/pdf/88E/02355881.pdf

*https://themarketherald.com.au/merlin-delays-bump-up-costs-for-88-energy-asx88e-2021-03-11/**

10/03/2021
Operations Update
https://www.asx.com.au/asxpdf/20210311/pdf/44tk29tw1mt3f4.pdf

01/03/2021
Operations Update
https://clients3.weblink.com.au/clients/_88energy/headline.aspx?headlineid=61022690
Rig Mobilisation Underway
Spud Scheduled for 8th March

23/02/2021
PROJECT PEREGRINE PROSPECTIVE RESOURCES REPORT
http://clients3.weblink.com.au/clients/_88energy/headline.aspx?headlineid=61021400

18/02/2021
Highlights
• 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
https://clients3.weblink.com.au/pdf/88E/02343348.pdf

10/02/2021
The Spud of Merlin-1 is now expected in late February / early March 2021 and is targeting 645 million barrels of gross mean prospective resource#. Subject to the result of the Placing and adequate funding being secured, the Company plans to conduct a flow test of the Merlin-1 well (at a cost of approximately US$2.0 net to 88E) in the event of a successful discovery and, if scheduling and permit approvals allow, commence drilling of a second well, Harrier-1, immediately following completion of drilling and testing operations at Merlin-1. Harrier-1 is targeting gross mean prospective resource of 417 million barrels#. Harrier-1 is expected to cost ~US$7m (~US$3.5m net to 88E).
https://www.lse.co.uk/rns/88E/proposed-placing-to-raise-up-to-a12m-gduccqqitlbb13j.html

31/01/2021
Operations Update
Permit to Drill for the Merlin-1 well approved
• Field operations fully underway
• Rig commissioning almost complete, mobilisation expected within days
• Well spud expected in late February / early March 20
https://clients3.weblink.com.au/pdf/88E/02336184.pdf

27/01/2021
Operations Update
https://clients3.weblink.com.au/clients/_88energy/headline.aspx?headlineid=61016935
https://www.proactiveinvestors.co.uk/companies/news/939594/88-energy-rallies-as-company-readies-for-permit-and-start-of-merlin-well-operations-939594.html
24/01/2021
Operations Update
https://clients3.weblink.com.au/clients/_88energy/headline.aspx?headlineid=61016708

22/01/2021
Operations Update
http://clients3.weblink.com.au/clients/_88energy/headline.aspx?headlineid=61016485
https://www.lse.co.uk/rns/88E/operations-update-ff6zk01i3agb8ci.html

21/01/2021
Operations Update
https://www.lse.co.uk/rns/88E/operations-update-x281hs8o1e8pjif.html
https://www.proactiveinvestors.co.uk/companies/news/939084/88-energy-continues-to-advance-icewine-and-peregrine-opportunities-939084.html

11/01/2021
Umiat Oil Field Purchase
http://clients3.weblink.com.au/clients/_88energy/headline.aspx?headlineid=61015127
http://www.searchanddiscovery.com/abstracts/html/2009/arctic/abstracts/huckabay.htm
https://finfeed.com/small-caps/energy/88-energy-acquires-strategically-situated-umiat-oil-field/amp/
Well Data available at https://dggs.alaska.gov/gmc/seismic-well-data.php
https://www.petroleumnews.com/pdfarch/496392442.pdf
https://www.alaskajournal.com/business-and-finance/2015-01-07/linc-energy-wont-need-access-road-umiat-field-project

06/01/2020
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
https://www.londonstockexchange.com/news-article/88E/operations-update/14815558
https://clients3.weblink.com.au/pdf/88E/02328771.pdf

10/12/2020
PROJECT PEREGRINE UPDATE
https://clients3.weblink.com.au/clients/_88energy/headline.aspx?headlineid=61011836

07/12/2020
Rig Contract Executed, Project Icewine Lease Rationalisation
https://clients3.weblink.com.au/clients/_88energy/headline.aspx?headlineid=61011230
http://www.allamericanoilfield.com/

04/12/2020
Project Peregrine Farmout Executed
http://clients3.weblink.com.au/clients/_88energy/headline.aspx?headlineid=61010960

24/11/2020
Bulls & Bears Interview
https://www.youtube.com/watch?v=FRU_YHLQU9M&ab_channel=BullN%27Bears

09/11/2020
Peregrine Farm-Out Progresses - Preferred Bidder Selected
https://clients3.weblink.com.au/clients/_88energy/headline.aspx?headlineid=61006187

Project Peregrine
The Company is pursuing the highly prospective Nanushuk trend on the North Slope of Alaska (“Project Peregrine”), with the Willow discoveries to the north of Project Peregrine currently being appraised and developed by ConocoPhillips (see map below).

Lease-XCD-Energy-ConocoPhillips-Harpoon-Prospect-Willow-Oil-Field-map.jpg

19/10/2020
Icewine Working Interest Increase Ahead of Resource Estimate
https://clients3.weblink.com.au/clients/_88energy/headline.aspx?headlineid=61001850

23/09/2020
Seismic Attribute Analysis Increases Confidence at Peregrine
http://clients3.weblink.com.au/pdf/88E/02283978.pdf

https://finfeed.com/small-caps/energy/promising-seismic-reprocessing-88es-project-peregrine/?utm_campaign=88E-20200923&utm_source=twitter.com&utm_medium=social

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

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