📋 About: 88 Energy (ASX: 88E | LON: 88E | OTC: EEENF) is an early stage oil explorer that operates in the North Slope of Alaska.

Project Peregrine: 1.6 billion barrel gross mean unrisked recoverable prospective resource on the North Slope of Alaska.

Project Icewine: Operator on majority of ~260,000  contiguous acres (~200,000 net) onshore Alaska in prolific oil-rich province with multiple objectives

🌏 Macro Theme: Oil & Gas was unloved in 2020 during COVID-19 pandemic and a rebound is expected in 2021

88 Energy Company Milestones

These lists show past milestones achieved by the company, and Next Investors opinion on possible future milestones that we think would add value

✅ Portfolio Initiation: Next Investors Commentary
✅ Acquired Project (Peregrine): Next Investors Commentary
✅ Drilling Results (Icewine, Charlie-1): Next Investors Commentary
✅ Capital Raise $10M @0.6c: Next Investors Commentary
✅ Resource Upgrade (Icewine): Next Investors Commentary
✅ Farmout Agreement Secured (Peregrine): Next Investors Commentary
✅ Acquired Project (Umiat): Next Investors Commentary
✅ Drilling Permit Secured (Peregrine, Merlin-1): Next Investors Commentary
✅ Drilling Commenced (Peregrine, Merlin-1): Next Investors Commentary
✅ Drilling Complete (Peregrine, Merlin-1): Next Investors Commentary
✅ Initial Lab Results (Peregrine, Merlin-1): Next Investors Commentary
✅ Buy back of 100% of Project Peregrine from APDC: Next Investors Commentary
🔲 Further Lab Results (Peregrine, Merlin-1)
🔲 Final Petrophysical Interpretation (Peregrine, Merlin-1)
🔲 Planning for a second well, Harrier-1 or other location (Peregrine)
🔲 Planning for a possible in-fill 2D or 3D seismic (Peregrine)
🔲 Assessment of potential development options for asset (Umiat)
🔲 Positive results from neighbour Pantheon Resources drilling (Icewine)
🔲 [NEW] Farmout Peregrine to new partner
🔲 Farmout of acreage to fund an appraisal well (Icewine)
🔲 Commercialisation Opportunities (Icewine, Charlie-1)
🔲 Unexpected Positive Announcement 1
🔲 Unexpected Positive Announcement 2
🔲 Unexpected Positive Announcement 3

Next Investors Exploration Investment Milestones

1st Key Drilling Event - Feb 2021

✅ Initial Investment: @0.5c (≈9 months before key drilling event)
✅ Increase Investment: @0.6c (≈6 months before key drilling event)
✅ Price increases 500% from initial entry
✅ Price increases 1000% from initial entry
🔲 Price increases 2000% from initial entry
✅ Free Carry (days before key drilling event)
✅ Take Some Profit (days before key drilling event)
✅ Hold position for key drilling event
✅ Decide New Investment Plan after results of key drilling event

[NEW] 2nd Key Drilling Event - Feb 2022?

✅ Increase Investment: @2.5c (≈9 months before key drilling event)
🔲 Increase Investment
🔲 Increase Investment
🔲 Price increases 500% from investment
🔲 Price increases 1000% from investment
🔲 Price increases 2000% from initial entry
🔲 Free Carry (days before key drilling event)
🔲 Take Some Profit (days before key drilling event)
🔲 Hold position for key drilling event
🔲 Decide New Investment Plan after results of key drilling event

"Expected Company Milestones" are based on the company's publicly available execution plan and some assumptions made by our team on potential announcements that should de-risk the investment. “Our investment milestones” show our current long-term investment plan. Early stage investments are risky and there is no guarantee that the expected events will occur. The lists are not in sequential order.

Key

🔲 Expected Milestone
✅ Achieved Milestone
🟥 Negative Result
🌎 Macro Event