Project Icewine

Positive Near-lease Results

Operator with ~75% working interest

  • Large independent resource post Charlie-1 well => 1.77 billion BOE2
  • De-risked by 3 wells: Icewine-1, Icewine-2 and Charlie-1.
  • The results at the near-by Talitha-A well are highly encouraging regionally for several formations that extend into Project Icewine.
  • 88E to reassess the potential across the acreage as a result of the Talitha-1′ well ahead of a planned farm-out.
  • Operator with ~75% working interest.
  • ~193K net acres.
  • Independent resource of 1.77 billion BOE2

A reassessment of the potential across the acreage has been planned ahead of an expected strategic farm-out. Results from the nearby Talitha-A well1 are encouraging and have the potential to extend into the 88E leases.

Note:
1. Talita-A well was drilled and tested by Pantheon Resources LLC in Q1 2021
2. Please refer to the ASX release dated 10 November 2020 for full details with respect to the Prospective Resource estimate, associated risking and applicable Cautionary Statement.

“ We are thrilled with the results from the Merlin exploration well, with light oil detected in the Nanushuk across three separate horizons ”

Ashley Gilbert, Managing Director

PROJECT ICEWINE MAP

PROJECT ICEWINE PROSPECTIVE RESOURCE

Prospective Oil Resource (Unrisked)MMBO
Prospects & LeadsFormation/PlayLowBestHighNet Mean to 88E
Lima ComplexSeabee/Basin Floor Fan214.2978.21622,803.81,418.9
Stellar Fan 1Torok/Basin Floor Fan7.527.280.840.4
Stellar Fan 3-1Torok/Basin Floor Fan3.110.937.217.6
Stellar Fan 4Torok/Basin Floor Fan9.935.3122.558.9
Stellar Fan 5/6Torok/Basin Floor Fan11.543.4162.973.4
Stellar Fan 2Torok/Basin Floor Fan21.557.213470.5
Stellar Fan 3-2Torok/Basin Floor Fan25.574184.794.2
TOTAL PROSPECTIVE OIL RESOURCE1,773.9

*Please refer to the ASX release dated 10 November 2020 for full details with respect to the Prospective Resource estimate, associated risking and applicable Cautionary Statement.

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Contact Details

Ground Floor, 516 Hay Street
Subiaco WA 6008
AUSTRALIA

Tel: +61 (0)8 9485 0990
Fax: +61 (0)8 9321 8990

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