Projects Overview

HIGH-IMPACT, OIL AND GAS DISCOVERY AND APPRAISAL

SUCCESSFUL HICKORY-1 FLOW TEST CONFIRMS SIGNIFICANT NEW RESOURCE

Projects-Overview-Extensive-Alaskan-Acerage-Position-v3

Extensive Alaskan Acerage Position

Increasing Direct Production Exposure

NAMIBIAN FRONTIER EXPLORATION

88 ENERGY CONTINUES TO DELIVER A PIPELINE OF HIGH-IMPACT OPPORTUNITIES IN HIGHLY PROSPECTIVE REGIONS

PIPILINE OF OIL AND GAS OPPORTUNITIES IN TWO HIGHLY-PROSPECTIVE REGIONS

NAMIBIA

Project Phoenix – Contingent Resource
Net Entitlement Contingent Resources 1
ReservoirLow (1C)Best (2C)High (3C)
Shelf Margin Delta (SMD-B)72479
Upper Slope Fan System (USFS)62172
Lower Slope Fan System (LSFS)835123
Basin Floor Fan (BFF)62158367
Total Million Barrels of Oil Equivilant83239640

1.Net entitlement to 88E. Refer to the ASX release dated 18 September 2024 for full details pertaining to Contingent Resource estimate including a summary of Project Phoenix contingent resources marketable liquids estimate of Best 2C net to 88E of 251MMbbl.

Project PhoenixNet Entitlement Prospective Resource (MMBO, Unrisked) 2
ProspectsFormationLow (1U)Best (2U)Hight (3U)Mean
Shelf Margin DeltaSMD-A/C299722399
KuparukKUP24569856
Total Mean Prospective Resource155

2.Net entitlement to 88E. Refer to the ASX release dated 18 September 2024 for full details with respect to the Prospective Resource estimate, associated risking and Cautionary Statement below.

Project Leonis: Alaska North SlopeNet Entitlement Prospective Resources (MMbbls, Unrisked)3
ProspectsLow (1U)Best (2U)High (3U)Mean
Upper Schrader Bluff167338671381
Canning136259469283
Total Mean Prospective Resource3035971140664

3.Net entitlement to 88E. Refer to the ASX release dated 30 January 2025 for full details with respect to the Prospective Resource estimate, associated risking and Cautionary Statement below.

Project PeregrineNet Entitlement Prospective Resource (MMBO, Unrisked)4
ProspectsFormationLow (1U)Best (2U)High (3U)Mean
Merlin Prospective AreaNanushuk44160567260
HarrierNanushuk1365772,4951,101
Harrier DeepNanuskuk Torok944942,4531,063
Total Mean Prospective Resource2,424

4.Refer to the ASX release dated 31 July 2023 for full details with respect to the Prospective Resource estimate, associated risking and Cautionary Statement below.

Project Longhorn: Texas, USA5GossNet Entitlement
Total ReservesOil (MMBO)Gas (BCF)Total MMBOEOil (MMBO)Gas (BCF)Total MMBOE
Proved1P1.333.241.870.691.710.98
Proved + Probable2P1.904.912.720.972.561.40
Proved + Probable + Possible3P2.326.483.401.193.361.75

5.Refer to 31 December 2024 Annual Report for latest reserves and ASX release dated 11 March 2025 for full details with respect to the Prospective Resource estimate, associated risking and Cautionary Statement below.

Umiat Oil Field: Alaska, USA6GossNet Entitlement
UndevelopedOil (MMBO)Gas (BCF)Total MMBOEOil (MMBO)Gas (BCF)Total MMBOE
Proved Total1P
Proved + Probable2P123.70.0123.794.00.094.0
Proved + Probable + Possible3P180.80.0180.8137.40.0137.4

6. No changes have been made to this reserves position since ASX announcement on 11 January 2021 (2021 Reserves).

Cautionary Statement: The estimated quantities of pertroleum that may be potentially recovered by the application of a future development project relate to undiscovered accumulations. These estimates have both an associated risk of discovery and a risk of development. Further exploration, appraisal and evaluation are required to determine the existence of a significant quantity of potentially movable hydrocarbons.

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Prolific Oil ProvInce

North Slope contains some of the largest oil fields in the U.S. Prudhoe Bay is the largest onshore oilfield in North America.

ACCESS to INFRASTRUCTURE

Existing road systems and proximity to the Trans-Alaska Pipeline System.

Attractive fiscal Regime

Relatively low royalty rates and attractive incentives for new oil production.

A supportive state

The energy industry is an important source of revenue and employment for Alaska.

Pricing Premium

Alaska North Slope Crude trading at premiums to WTI.

UNDER EXPLORED

Compared to most basins, Alaska is relatively underexplored, with ~500 exploration wells on the North Slope.

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Contact Details

Ground Floor, 516 Hay Street
Subiaco WA 6008
AUSTRALIA

Tel: +61 08 9485 0990

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